# Business Analytics Exam 2 Review

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Topics of this game:
• A population is normally distributed with mean 50 and standard deviation 12. What is the probability that a sample of size 9 will have a mean between 48 and 52?
• The average price of gasoline at all U.S. gas stations was \$3.00. Assume that the population standard deviation of gas prices is \$1.75. We plan to take a random sample of 36 gas stations. What is the sampling distribution of x-bar?
• The average price of gasoline at all U.S. gas stations was \$3.00. Assume that the population standard deviation of gas prices is \$1.75. We plan to take a random sample of 16 gas stations. The sampling distribution of x-bar will be normal only if
• The average price of gasoline at all U.S. gas stations was \$3.00 with a standard deviation of \$1.75. Find the probability that a random sample of 36 gas stations will provide an average gas price that is more than \$3.50.
• The average price of gasoline at all U.S. gas stations was \$3.00 with a standard deviation of \$1.75. Find the probability that a sample of 36 gas stations will provide an average gas price that is within \$0.50 of the population mean.
• The probability in the preceding question would _______ if we were to increase the smaple size to 72.
• Census indicates that the proportion of adult women in the United States is 51%. We plan to take a random sample of 400 U.S. adults. What is the sampling distribution of p-bar?
• The critical value (CV) used for a 95% interval estimate is
• It is always better to have a 99% confidence interval than a 90% confidence interval
• A 95% confidence interval is wider than a 90% confidence interval
• A medical researcher would like to estimate the average height of 4th grade girls to within 1 inch. The standard deviation is known to be 4 inches. How many 4th grade girls must be measure to obtain a 98% confidence level?
• Which of the following will not result in a narrower confidence interval?
• If the p-value is larger than 10%, we assume that the null hypothesis is true.
• A company is considering increasing the workload of its employees because it feels they are not working a 40-hour week. Which pair of hypotheses should the company use to validate its position?
• Suppose the average household income in a certain city is \$27,000 with a standard deviation of \$5,500. What is the probability that a sample of 100 households will have a mean income of less than \$26,000?
• In a poll 1000 American adults, 44% approve the job that Obama was doing handling the economy. The standard error is
• In a poll 1000 American adults, 44% approve the job that Obama was doing handling the economy. The critical value (CV) needed for 90% confidence interval estimation is
• In a poll 1000 American adults, 44% approve the job that Obama was doing handling the economy. The 90% confidence interval estimate is
• In a poll 1000 American adults, 44% approve the job that Obama was doing handling the economy. However, a political commentator claims that Obama's approval is 50%. In light of the sample evidence and at 10% level of significance
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