Liberty University - BUSINESS BMAL 590 ALC 9

Liberty University - BUSINESS BMAL 590

ALC 9.2

1)A website poll is accurate 99 times out of 100, which means ______.

2. Sixty percent of a company’s customers are females. What is the probability that a random sample of 200 customers is greater than 64 percent female?

3. The ____ can be the derivative of the sampling distribution.
4. The _____ sample involves dividing the population into groups, then randomly selecting some of the groups and taking either a sample or a census of their members.
5. The sole variable in the z-statistic is the ______, which changes with different samples.
6. If when using the confidence interval estimator of a proportion the researcher finds that there is no chance of finding a success in the population, adding the number of 4 to the sample size could be part of the solution, which refers to ______.
7. The expected value of perfect information is the same as ______.
8. For a given level of significance, if the sample size increases, the probability of a Type II error will ______.
9. A type II error is defined as
10. A Type I error occurs when we
11. A marketing research firm selects a random sample of adults and asks them a list of questions regarding their beverage preferences. What type of data collection is involved here?
12. Statistics is best described as a ______ to help analyze numbers.
13. A confidence interval is defined as ______.
14. Which of the following statements involve inferential statistics as opposed to descriptive statistics?
15. A federal auditor for nationally charted banks from a random sample of 100 accounts found that the average demand deposit balance at the First National Bank of small town was $549.82. if the auditor needed a point estimate for the population mean for all accounts at this bank, what would she use?
16. The average sales per customer at a home improvement store during the past year is $75 with a standard deviation of $12. The probability that the average sales per customer from a sample of 36 customers, taken at random from this population, exceeds $78 is ______.
17. Which of the following would not be considered a state of nature for a business firm?
18. A sample of 500 athletes is taken from a population of 11,000 Olympic athletes to measure work ethic. As a result, we _____.
19. Though not the most effective method, rolling four dice enough times will result in theoretical probabilities being similar to _____.
20. Which of the following is a rule violation in hypothesis testing?
21. Assume an investment is made a significant number of times using the same probabilities and payoffs. In this case, the average payoff per investment represents _____.
22. Which of the following is false?
23. As a general rule, the normal distribution is used to approximate the sampling distribution of the sample proportion only if ______.
24. Consider a probability tree for selecting two puppies without replacement. The joint probability of two branches of the probability tree where the first selection is P(F) = 2/7 and the second selection P(F[F) =3//10 is ______.
25. Which of the following represents behavior of risk avoidance?
26. The standard error is _____?
27. Which of the following is not a goal of the descriptive statistics?
28. The t-distribution approaches the normal distribution as the ______.
29. ____ are utilized to make inferences about certain population parameters.          
30. The average number of customers that visited a particular store during the past year is 160 per day and a standard deviation of 25 customers per day. A random sample of 64 days is chosen from this population. The standard deviation of the sample means equals _____.