RES-ECON EXAM-3

The null and alternative hypotheses should be constructed so that they are mutually exclusive and ------. Proportional Parameterized Collectively exhaustive Standardized

Collectively exhaustive

A(n) ----------- is the value of the ----------- when evaluated with a particular sample. Observation, Estimator Estimator, Population Mean Estimate, Estimator Estimator, Estimate Population mean, Estimator

ESTIMATE, ESTIMATOR

Compared to the standard normal distribution, the Student's t distribution is narrower. True False

False

If a population is with mean μ and standard deviation σ, then the random variable X approaches a normal distribution with mean μ and standard deviation as the sample size gets large, regardless of whether the population distribution is distributed normal. True False

False

Which of the following is a valid alternative hypothesis? H1: μ ≤ 0 H1: μ ≠ 0 H1: μ ≥ 0 H1: μ = 0

H1: μ ≠ 0

The standard error of the sample mean ------------ as the sample size ------------. Increases, decreases Decreases, decrease Increases, increase

Increases, decreases

Which of the following is not a characteristic of the t distribution? It is a symmetric distribution It is a continuous distribution It has mean of zero It approaches the normal distribution as the degrees of freedom decreases None of the Above

It approaches the normal distribution as the degrees of freedom decreases

Which of the following is NOT true about the normal distribution? The mean tells you where its center is Its shape looks like a rectangle It is a continuous random variable It is symmetrical

Its shape looks like a rectangle

The Following is an example of a ---------- hypothesis test. H0: μ ≥ μ0 H1: μ < μ0 Right-Tailed Test Null-Tailed Test Two-Tailed Test Left-Tailed test Alternative-Tailed Test

LEFT-TAILED TEST

The ------------- is the difference between the sample mean and sampling error. Bias Estimate Population mean Sample standard deviation Range

POPULATION MEAN

For a given level of confidence, the larger the sample size, the Larger the standard error Greater the confidence interval width. Smaller the confidence interval width. Larger the margin of error.

Smaller the confidence interval width.

Which type of values must you be working with if the population standard deviation is unknown? W-values Z-values T-values X-values

T-VALUES

The width of a confidence interval for μ is not affected by: The standard deviation. The sample size. The confidence level. The sample mean.

The sample mean.

Which of the following is not true about a continuous random variable? The total area under the curve is equal to 1 We know exactly what the distribution looks like for any continuous random variable The probability of any single point occurring is 0 The probability of any interval occurring is non-negative

We know exactly what the distribution looks like for any continuous random variable