Statistics for Business: Decision Making and Analysis, 3rd Edition

Exercises

Mix and Match

Match each item on the left with its correct description on the right.

1. $\overline{y}\pm 2\text{se}\left(\overline{y}\right)$	(a) Sampling distribution of $\overline{X}$
2. $\widehat{p}\pm \text{se}\left(\widehat{p}\right)$	(b) Margin of error
3. $2\text{se}\left(\overline{X}\right)$	(c) 100% confidence interval for p
4. N(μ, σ2/n)	(d) Estimated standard error of $\overline{Y}$
5. $s/\sqrt{n}$	(e) Estimated standard error of $\widehat{p}$
6. $\sigma /\sqrt{n}$	(f) An interval with about 95% coverage
7. 1/(0.05)2	(g) Actual standard error of $\overline{Y}$
8. [0, 1]	(h) About 2 for moderate sample sizes
9. $\sqrt{\widehat{p}\left(1-\widehat{p}\right)/n}$	(i) An interval with 68% coverage
10. t0.025,n − 1	(j) Sample size needed for 0.05 margin of error

True/False

Mark each statement True or False. If you believe that a statement is false, briefly explain why you think it is false.

11. All other things the same, a 90% ...