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Statistics for Business and Economics Study Set 3
Quiz 8: Interval Estimation
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Question 21
Multiple Choice
A machine that produces a major part for an airplane engine is monitored closely. In the past, 6% of the parts produced would be defective. With a .95 probability, the sample size that needs to be taken if the desired margin of error is .04 or less is
Question 22
Multiple Choice
We are interested in conducting a study to determine the percentage of voters of a state would vote for the incumbent governor. What is the minimum sample size needed to estimate the population proportion with a margin of error of .05 or less at 95% confidence?
Question 23
Multiple Choice
In a random sample of 144 observations,
= .7. The 95% confidence interval for p is
Question 24
Multiple Choice
A random sample of 64 observations has a mean of 20, a median of 21, and a mode of 22. The population standard deviation is known to equal 4.8. The 95.44% confidence interval for the population mean is
Question 25
Multiple Choice
The ability of an interval estimate to contain the value of the population parameter is described by the
Question 26
Multiple Choice
In general, higher confidence levels provide
Question 27
Multiple Choice
A random sample of 49 statistics examinations was taken. The average score, in the sample, was 84 with a variance of 12.25. The 95% confidence interval for the average examination score of the population of the examinations is