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Statistics
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Basic Business Statistics Study Set 4
Quiz 7: Sampling Distributions
Path 4
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Question 1
Multiple Choice
Which of the following is true about the sampling distribution of the sample mean?
Question 2
Multiple Choice
Major league baseball salaries averaged $3.26 million with a standard deviation of $1.2 million in A certain year in the past.Suppose a sample of 100 major league players was taken.Find the Approximate probability that the mean salary of the 100 players exceeded $4.0 million.
Question 3
Multiple Choice
If the expected value of a sample statistic is equal to the parameter it is estimating, then we call That sample statistic
Question 4
True/False
True or False: The amount of time it takes to complete an examination has a left skewed distribution with a mean of 65 minutes and a standard deviation of 8 minutes.If 64 students were randomly sampled, the probability that the sample mean of the sampled students exceeds 71 minutes is approximately 0.
Question 5
Multiple Choice
Sales prices of baseball cards from the 1960s are known to possess a right skewed distribution With a mean sale price of $5.25 and a standard deviation of $2.80.Suppose a random sample of 100 cards from the 1960s is selected.Describe the sampling distribution for the sample mean sale Price of the selected cards.
Question 6
Multiple Choice
The Central Limit Theorem is important in statistics because
Question 7
True/False
True or False: The Central Limit Theorem is considered powerful in statistics because it works for any population distribution provided the sample size is sufficiently large and the population mean and standard deviation are known.