ADMS 2320 Study Guide - Midterm Guide: Statistical Inference, Cengage Learning, Descriptive Statistics
26 Apr 2015
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True/false: the significance level measures the proportion of the time an inference about a population will be correct in the long run. Obj: sfme. kell. 15. 01. 01: a descriptive measure that is computed from a sample is called a statistic. Obj: sfme. kell. 15. 01. 01: the confidence level is the proportion of times that an estimating procedure will be wrong in the long run. Obj: sfme. kell. 15. 01. 01: 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. In a sample of 350 students selected from a large college of business, 25% are found to be marketing majors. Obj: sfme. kell. 15. 01. 01: 35% of a sample of 300 professional baseball players indicated that their parents did not play baseball.
