Test Bank For BSTAT2 2nd Edition By Gerald Keller
CHAPTER 1: WHAT IS STATISTICS?
TRUE/FALSE
- The significance level measures the proportion of the time an inference about a population will be correct in the long run.
ANS: F NAT: Analytic; Statistical Inference
- A summary measure that is computed from a sample is called a statistic.
ANS: T NAT: Analytic; Statistical Inference
- The confidence level is the proportion of times that an estimating procedure will be wrong in the long run.
ANS: F NAT: Analytic; Statistical Inference
- A resort employs 3,500 managers and staff. To ascertain their employees’ opinions of a proposed health insurance plan, 350 employees are surveyed at random. The proportion of the 350 employees who favor the health insurance plan represents a parameter in this scenario.
ANS: F NAT: Analytic; Statistical Inference
- In a sample of 350 students selected from a large college of business, 25% are found to be marketing majors. The 25% is a statistic.
ANS: T NAT: Analytic; Statistical Inference
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