Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Business Statistics > Exam 3 - Study Guide > Flashcards

Exam 3 - Study Guide Flashcards

1
Q

A sample statistic is a point estimator of…

A
  • A population parameter
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The mean, median, and mode have the same value for which probability distribution…

A
  • Normal
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

The probability density function for a uniform distribution ranging between 2 and 6 is…

A
  • .25
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

A standard normal distribution is a normal distribution with…

A
  • A mean of 0 and a standard deviation of 1
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

If the mean of a normal distribution is negative…

A
  • NONE OF THESE ANSWERS ARE CORRECT
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

For a standard normal distribution, the probability of obtaining a z value of less than 1.6 is…

A
  • 0.9452
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

For the standard normal probability distribution, the area to the left of the mean is…

A
  • 0.5
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

95% of the data in a normally distributed data set falls within how many standard deviations…

A
  • 2
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The standard deviation of a sample proportion is referred to as the…

A
  • Standard error of the proportion
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The purpose of statistical inference is to provide information about the…

A
  • Population based on information in the sample
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

A continuous random variable may assume…

A
  • All values in an interval or collection of intervals
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

For a continuous random variable x, the probability density function f(x) represents…

A
  • The height of the function at x
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

For a uniform probability density function, the height of the function…

A
  • Is the same for each value of x
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

A normal probability distribution…

A
  • Is a continuous probability distribution
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Which of the following is not a characteristic of the normal probability distribution?

A
  • The standard deviation must be 1
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

The highest point of a normal curve occurs at…

A
  • The mean
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

In a standard normal distribution, the range of values of z is from…

A
  • Minus infinity to infinity
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

As the degrees of freedom increase, the t distribution approaches the…

A
  • Normal distribution
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

If the margin of error in an interval estimate of the pop. mean is 4.6, the interval estimate =

A
  • Sample + - 4.6
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

The certainty associated with an interval estimate is called the…

A
  • Confidence coefficient
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

An interval estimate is used to estimate…

A
  • A population parameter
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

The t distribution uses the following value with sampling when pop. std. dev. is unknown…

A
  • N - 1 degrees of freedom
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

The standard deviation of a point estimator is the…

A
  • Standard Error
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

As the sample size increases, the variability among the sample means…

A
  • Decreased
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

In determining sample size for estimating true population proportion, what is NOT needed…

A
  • Mean of the popluation
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Uniform Probability Distribution

A
  • A continuous probability distribution for which the probability that the random variable will assume a value in any interval is the same for each interval of equal length
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Probability Density Function

A

-

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

How to Calculate Probability

A

-

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

How to Calculate Expected Value

A

-

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

How to Calculate Variance

31
Q

How to Calculate Standard Deviation

32
Q

Normal Probability Distribution

A
  • A continuous probability distribution. Its probability density function is bell shaped and determined by its mean and standard deviaiton
33
Q

What Different Shapes of a Bell Curve Mean

A
  • Normal Curve
    • Highest Point: Mean
    • Symmetric
    • Stdev determines flat and wide
34
Q

How to Create a Bell Curve

A
  • 68.3% of data in one stdev
  • 95.4% of data in two stdev
  • 99.7% of data in three stdev
35
Q

How to Calculate Probability: Left-Tail

36
Q

How to Calculate Probability: Between

37
Q

How to Calculate Probability: Right-Tail

38
Q

How to Calculate: Z-Score

39
Q

How to Use Z-Score

40
Q

What “Z” Represents

41
Q

How to Find X from Probability

42
Q

Sampling and Sampling Distributions

43
Q

Element

44
Q

Sample

45
Q

Population

46
Q

Sampled Population

47
Q

Frame

48
Q

Population Parameters

A
  • A numerical characteristic of a population, such as a population mean, a population standard deviation, a population proportion, and so on
49
Q

Simple Random Sample

A
  • A sample selected such that each possible sample has the same probability of being selected
50
Q

Sampling from Finite Populations

51
Q

Sampling from Infinite Populaitons

52
Q

How to Select a Simple Random Sample from a Population

53
Q

Point Estimation

A
  • The value of a point estimator used in a particular instance as an estimate of a population parameter
54
Q

Inference

55
Q

Sample Statistic

A
  • A sample characteristic, such as a sample mean, a sample standard deviation, a sample proportion, and so on
56
Q

Target Population

A
  • The population for which statistical inferences such as point estimates are made
57
Q

Sample Mean

58
Q

Sample Proportion

59
Q

Standard Deviation of x - (standard error)

60
Q

How to Compute Standard Error for a Sample Mean

61
Q

How to Compute Standard Error for a Sample Proportion

62
Q

How to Calculate Probabilities of Sampling Error Using the Standard Error

63
Q

Interval Estimation

64
Q

Margin of Error

65
Q

Confidence Level

66
Q

Confidence Coefficient

67
Q

Confidence Interval

68
Q

Level of Significance

69
Q

How to Calculate the Interval Estimate when Standard Deviation is Known

70
Q

How to Calculate the Interval Estimate when Standard Deviation Is not Known

71
Q

T Distribution

72
Q

Degrees of Freedom

73
Q

Determining Sample Size

Business Statistics (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions