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A sales manager for a company that makes commercial ovens 1. Consider the frame of 50 full-time employees of Computer Technologies, Inc (CTI). CTI’s human resources manager has collected annual salary figures for all employees and she has calculated a mean of $47,723, a median of $41,082 and a standard deviation of $24,167. A simple random sample of 10 employees is presented below (salary is in $1,000’s). Compute the mean, m ...

Other / Other 16 Apr 2016

The accuracy of the point estimate is measured by 1. The standard deviation of is usually called the a. standard error of the mean c. standard error of the population b. standard error of the sample d. randomized standard error 2. The opportunity for nonsampling error is increased by: a. larger sample sizes c. affluent samples b. smaller sample sizes d. educated samples 3. When a portion of the sample does not r ...

Other / Other 16 Apr 2016

Sally Bird of Big Rapids Realty has received data on 60 houses NARRBEGIN: SA_96_102 The manager of a small computer company has collected current annual salaries and number of years of post-secondary education for 52 full-time employees. The data are shown below: Current annual salaries: Number of years of post-secondary education: NARREND 1. (A) Compute the mean, median, and standard deviation of the annual salarie ...

Other / Other 16 Apr 2016

The sampling distribution of the mean will have the same standard deviation True or false: 1. It is customary to approximate the standard error of the sample mean by substituting the sample standard deviation s for in the formula: SE( ) = . 2. An estimator is said to be unbiased if the mean of its sampling distribution equals the value of the population parameter being estimated. 3. Estimation is the process of inferr ...

Other / Other 16 Apr 2016

The current plan is to make the bonds non-callable 1. Under normal conditions, which of the following would be most likely to increase the coupon rate required for a bond to be issued at par? a. Adding additional restrictive covenants that limit management's actions. b. Adding a call provision. c. The rating agencies change the bond's rating from Baa to Aaa. d. Making the bond a first mortgage bond rather than a debenture. e. Addin ...

Other / Other 16 Apr 2016

The reason the Central Limit Theorem 1. The approximate 95% confidence interval for a population mean is: a. c. b. d. 2. The finite population correction factor, , should generally be used when: a. N is any finite size b. n is less than 5% of the population size N c. n is greater than 5% of the population size N d. n is any finite size 3. The reason the Central Limit Theorem (CLT) is such an impor ...

Other / Other 16 Apr 2016

The sampling method in which a population is divided into blocks 1. Which of the following statements correctly describe estimation? a. It is the process of inferring the values of known population parameters from those of unknown sample statistics. b. It is the process of inferring the values of unknown sample statistics from those of known population parameters. c. It is the process of inferring the values of known sample statistics ...

Other / Other 16 Apr 2016

Cluster sampling is often less convenient and more costly True or false: 1. In stratified sampling, the population is divided into relatively homogeneous subsets called strata, and then random samples are taken from each stratum. 2. Stratified samples are typically not used in real applications because they provide less accurate estimates of population parameters for a given sampling cost. 3. In stratified sampling with ...

Other / Other 16 Apr 2016

Selecting a random sample from each identifiable subgroup within a population 1. Selecting a random sample from each identifiable subgroup within a population is called: a. random sampling b. systematic sampling c. stratified sampling d. cluster sampling e. None of these options 2. Potential sample members, called sampling units, are: a. people c. households b. companies d. All of these options 3. In sampling, a ...

Other / Other 16 Apr 2016

Bonds A, B, and C all have a maturity of 10 years 1. Which of the following statements is CORRECT? a. If the Federal Reserve unexpectedly announces that it expects inflation to increase, then we would probably observe an immediate increase in bond prices. b. The total yield on a bond is derived from dividends plus changes in the price of the bond. c. Bonds are generally regarded as being riskier than common stocks, and therefore bond ...

Other / Other 16 Apr 2016