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Oromia State University College of Finance and Management Studies Department of Management Business Statistics Mid Exam. For Weekend Students

This document contains a midterm exam for business statistics students studying at Oromia State University. The exam has two parts: 1) A true/false section testing concepts related to sampling methods, sampling distributions, and estimating population parameters. 2) Multiple choice and worked problems related to sampling distributions of means and proportions, confidence intervals, and determining appropriate sample sizes. The exam tests students' understanding of key statistical concepts like random sampling, sampling error, sampling distributions, and how to estimate population values from sample data.

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181 views2 pages

Oromia State University College of Finance and Management Studies Department of Management Business Statistics Mid Exam. For Weekend Students

This document contains a midterm exam for business statistics students studying at Oromia State University. The exam has two parts: 1) A true/false section testing concepts related to sampling methods, sampling distributions, and estimating population parameters. 2) Multiple choice and worked problems related to sampling distributions of means and proportions, confidence intervals, and determining appropriate sample sizes. The exam tests students' understanding of key statistical concepts like random sampling, sampling error, sampling distributions, and how to estimate population values from sample data.

Uploaded by

Jaatoo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Oromia State University

College of Finance and Management Studies

Department of Management

Business Statistics Mid Exam. For weekend Students


Max Mark: 25%

Time Allowed: 40 Minutes

True/ False Choose


1. 2. 3. 4. 5 1 2. 3. 4. 5.
6. 7. 8. 9. 10
Name: _______________________ ID No: __________ Section:___________ Center:___________

Part I. Write true if the statement is correct and write false if the statement is incorrect

1. A sample selected so that each item or person in the population has the same chance of
being included is systematic random sampling.
2. In a stratified sampling method a population is divided into groups using naturally
occurring geographic or other boundaries.
3. Sampling error refers to the difference between a sample statistic and its corresponding
population parameter.
4. Sampling distribution of the sample mean is a probability distribution of all possible
sample means of a given sample size.
5. The mean of sampling distribution of sample proportion is equal with the sample
proportion
6. The standard deviation of sample mean is given by √ pq/n
7. The standard error of the mean measures the variation in the sampling distribution of the
sample mean.
8. If the population follows a normal distribution, the sampling distribution of the sample
mean will also follow the normal distribution for samples of any size.
9. Regardless of the nature of population, for large sample the sampling distribution of
sample statistic will follows normal distribution.
10. If σ unknown, n-small, population is normal, student’s t distribution is used to estimate
the population mean.

Part II. Choose the correct answer from the given alternatives

1. Non-sampling errors are


A. the errors that occur because the sample size is too large in relation to the
population size
B. the errors made while collecting, recording, and tabulating data
C. the errors that occur because an untrained person conducts the survey
D. All
2. The condition for the standard deviation of the sample mean to be σ/√n is that
A. n/N ≤ 0.05 B. n/N > 0.05 C. n ≤ 0.05 N D. A&B E. A & C
3. The condition for the standard deviation of the sampling distribution of the sample
proportion to be √p*q/n is:
A. np >5 and nq> 5 B. np < 5 and nq > 5 C. n <30 D. n>
30
4. When samples are selected from a non-normally distributed population, the sampling
distribution of the sample mean has an approximately normal distribution
A. n< 30 B. n> 30 C. n/N < 0.05 D. n/ N > 0.05 E. All
5. For A sample of 300 observations taken from a population produced a sample
proportion of .63. What is confidence interval for p at a 95% confidence level?
A. 0.575 ≤µ ≤ 0.685 B. 0.5 ≤µ ≤ 0.6 C. 0.55 ≤µ ≤ 0.65 D. None

Part II. Workout questions

1. Attempt the following questions

a. A sample of 1100 observations taken from a population produced a sample proportion


of.32. Make a 98% confidence interval for p.

b. Another sample of 1100 observations taken from the same population produced a sample
proportion of .36. Make a 95% confidence interval for p.

c. A third sample of 1100 observations taken from the same population produced a sample
proportion of .30. Make a 90% confidence interval for p.

2, Determine the most conservative sample size for the estimation of the population
proportion for the following

a. E =0 .5, confidence level = 95%

b. E =0 .25, confidence level = 90%

c. E =0 .15, confidence level = 98%

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