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1 of 3 7/9/2008 2:40 PM
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1.
The z value for a 96.6% confidence interval estimate for a population mean is:
a. 2.12
b. 1.82
c. 2.00
d. 1.96
2.
A point estimate is defined as:
a. the average of the sample values.
b. the average of the population values.
c. a single value that is the best estimate of an unknown population parameter.
d. a single value that is the best estimate of an unknown sample statistic.
3.
In developing an interval estimate for a population mean, the population standard deviation was assumed to be 10. The interval
estimate was 50.92 2.14. Had equaled 20, the interval estimate would be:
a. 60.92 2.14
b. 50.92 12.14
c. 101.84 4.28
d. 50.92 4.28
4.
A 99% confidence interval estimate of the population mean can be interpreted to mean:
a. if all possible sample are taken and confidence interval estimates are developed, 99% of them would include the true population
mean somewhere within their interval.
b. we have 99% confidence that we have selected a sample whose interval does include the population.
c. we estimate that the population mean falls between the lower and upper confidence limits, and this type of estimator is correct
99% of the time.
d. all of these choices.
5.
A financial analyst wanted to determine the mean annual return on mutual funds. A random sample of 60 returns shows a mean of 12%.
If the population standard deviation is assumed to be 4%, estimate with 95% confidence the mean annual return on all mutual funds.
_________
