BUS 204 Week 8 Quiz

BUS 204 Week 8 Quiz | MiraCosta College 

Question 1

Sampling error is the difference between the sample statistic and the population parameter.

True  

False

Question 2

Suppose the mean balance of checking accounts at Regions Bank is known to be $4320. A random sample of 10 accounts yields a total of $41,490. This means the sampling error is -$171.

True  

False

Question 3

When sampling from a population, the sample mean will:

always be closer to the population mean as the sample size increases.  

likely be equal to the population mean if proper sampling techniques are employed.

typically exceed the population mean.  

likely be different from the population mean.

Question 4

Which of the following statements is false?

There is no way to prevent sampling error short of taking a census of the entire population. 

Increasing the sample size will always reduce the size of the sampling error when the sample mean is used to estimate the population mean.  

Sampling error can occur when   differs from μ due to the fact that the sample was not a perfect reflection of the population. 

Increasing the sample size will reduce the potential for extreme sampling error.

Question 5

Which of the following statements is not consistent with the Central Limit Theorem?

The Central Limit Theorem applies without regard to the size of the sample.  

The Central Limit Theorem indicates that the mean of the sampling distribution will be equal to the population mean.  

The Central Limit Theorem indicates that the sampling distribution will be approximately normal when the sample size is sufficiently large.  

The Central Limit Theorem applies to non-normal distributions.

Question 6

A sample of 25 observations is taken to estimate a population proportion π. The sampling distribution of sample proportion p is:

approximately normal because   is always normally distributed.  

not normal since n < 30.  

approximately normal if np ≥ 5 and n(1 - p) ≥ 5. 

approximately normal if p approaches 0.50.

Question 7

The proportion of items in a population that possess a specific attribute is known to be 0.70. If a simple random sample of size n = 100 is selected and the proportion of items in the sample that contain the attribute of interest is 0.65, what is the sampling error?

0.01  

-0.05 

-0.03 

0.08