One year, the distribution of salaries for professional sports players had mean 1.6 million and standard deviation 0.8 million. Suppose a sample of 400 major league players was taken.
Find the approximate probability that the average salary of the 400 players that year exceeded 1.1 million.
A) .7357 B) approximately 0 C) .2357 D) approximately 1
Q. 2What is the confidence coefficient in a 95 confidence interval for ?
A) .025 B) .05 C) .95 D) .475
Q. 3A __________ is a numerical quantity computed from the data of a sample and is used in reaching a decision on whether or not to reject the null hypothesis.
A) parameter B) significance level C) test statistic D) critical value
Q. 4We believe that 95 of the population of all Business Statistics students consider statistics to be an exciting subject. Suppose we randomly and independently selected 30 students from the population.
If the true percentage is really 95, find the probability of observing 29 or more students who consider statistics to be an exciting subject. Round to six decimal places.
A) 0.446458 B) 0.553542 C) 0.338903 D) 0.214639
Q. 5What is the probability associated with not making a Type II error?
A) B) C) (1 - ) D) (1 - )
Q. 6The confidence level is the confidence coefficient expressed as a percentage.
A) True B) False
Q. 7We believe that 86 of the population of all Business Statistics students consider statistics to be an exciting subject.
Suppose we randomly and independently selected 32 students from the population and observed fewer than five in our sample who consider statistics to be an exciting subject. Make an inference about the belief that 86 of the students consider statistics to be an exciting subject.
A) The 86 number is exactly right.
B) The 86 number is too high. The real percentage is lower than 86.
C) The 86 number is too low. The real percentage is higher than 86.
D) It is impossible to make any inferences about the 86 number based on this information.
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