ECO3411 test 1 – Flashcards
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The level of significance
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is 1 - confidence level
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The closer the sample mean is to the population mean
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the smaller the sampling error
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After computing a confidence interval, the user believes the results are meaningless because the width of the interval is too large. Which one of the following is the best recommendation
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Increase the sample size
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In general, higher confidence levels provide
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wider confidence intervals
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Parameters are
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numerical characteristics of a population
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Convenience sampling is an example of
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nonprobabilistic sampling
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As the sample size increases, the
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standard error of the mean decreases
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The sample statistic, such as x, s, or p, that provides the point estimate of the population parameter is known as
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a point estimator
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Cluster sampling is
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a probability sampling method
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The absolute value of the difference between the point estimate and the population parameter it estimates is
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the sampling error
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Whenever the population standard deviation is unknown and the population has a normal or near-normal distribution, which distribution is used in developing an interval estimation
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t distribution
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As the sample size increases, the margin of error
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decreases
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In determining the sample size necessary to estimate a population proportion, which of the following information is not needed
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the mean of the population
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What type of error occurs if you fail to reject Ho when, in fact, it is not true
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Type II
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The p-value is a probability that measures the support (or lack of support) for the
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null hypothesis
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The error of rejecting a true null hypothesis is
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a Type I error
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If a hypothesis is not rejected at the 5% level of significance, it
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will also not be rejected at the 1% level
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Whenever the population standard deviation is known which distribution is used in developing an interval estimation?
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z distribution
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A probability distribution for all possible values of a sample statistic is known as
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a sampling distribution
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A population characteristic, such as a population mean, is called
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a parameter
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A sample statistic, such as a sample mean, is known as
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a statistic
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The standard deviation of a point estimator is called the
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standard error
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A single numerical value used as an estimate of a population parameter is known as
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a point estimate
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A theorem that allows us to use the normal probability distribution to approximate the sampling distribution of sample means and sample proportions whenever the sample size is large is known as the
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central limit theorem
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The purpose of statistical inference is to provide information about the
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population based upon information contained in the sample
