Statistics and Probability - Estimations and Confidence Interval

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31 questions

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- Q1What is a confidence interval?A range of values that is likely to contain the true population parameter with a certain level of confidenceThe standard deviation of the populationThe exact value of the population parameterA range of values that is unlikely to contain the true population parameter with a certain level of confidence30s
- Q2What is a point estimate?The exact value of the population parameterA range of values that is likely to contain the true population parameter with a certain level of confidenceThe standard deviation of the populationA single value that is used to estimate the population parameter30s
- Q3What is the formula to calculate a confidence interval for the population mean?sample mean ± (t-score x standard error)sample mean ± (z-score x standard deviation)sample mean ± (z-score x standard error)sample mean ± (t-score x standard deviation)30s
- Q4What is the formula to calculate the standard error?standard deviation x sqrt(sample size)sqrt(standard deviation / sample size)sample size / sqrt(standard deviation)standard deviation / sqrt(sample size)30s
- Q5What is the level of confidence typically used for confidence intervals?99%95%90%100%30s
- Q6What is the purpose of a confidence interval?To reduce the standard deviation of the populationTo quantify the uncertainty in the point estimate and provide a range of plausible values for the population parameterTo provide an exact value for the population parameterTo increase the sample size30s
- Q7What happens to the width of a confidence interval if the sample size increases?It decreasesIt increasesIt stays the sameIt depends on the level of confidence30s
- Q8What is the critical value for a 90% confidence interval?2.3261.9601.2821.64530s
- Q9What is the critical value for a 99% confidence interval?2.5761.9602.3261.64530s
- Q10Which of the following is not a factor that affects the width of a confidence interval?The level of confidence.The sample size.The margin of error.The standard deviation of the population.30s
- Q11What is the margin of error?The amount by which the confidence interval overestimates the population parameter.The amount by which the point estimate overestimates the population parameter.The amount added and subtracted to the point estimate to form a confidence interval.The amount by which the point estimate underestimates the population parameter.30s
- Q12What is the level of confidence?The probability that the population parameter is exactly equal to the point estimate.The probability that the sample mean is equal to the population mean.The probability that the population parameter falls outside the confidence interval.The probability that the population parameter falls within the confidence interval.30s
- Q13What is the formula for the margin of error?Margin of error = Z* (Standard deviation/Square root of sample size).Margin of error = Z* (Standard deviation * Square root of sample size).Margin of error = Z/ (Standard deviation/Square root of sample size).Margin of error = Z/ (Standard deviation * Square root of sample size).30s
- Q14What is the formula for the confidence interval?Point estimate - Margin of error.Point estimate * Margin of error.Point estimate ± Margin of error.Point estimate / Margin of error.30s
- Q15What is the minimum sample size required for a 95% confidence interval with a margin of error of 0.05, and a standard deviation of 2?245.385.495.125.30s