QNT275-Estimation is a procedure by which we assign a numerical

1. Estimation is a procedure by which we assign a numerical value or numerical values to the:Asample statistic based on the information collected from a populationBpopulation parameter based on the information collected from a sampleCpopulation parameter based on the information collected from a populationDsample statistic based on the information collected from a sample2. A sample of size 100 from a population having standard deviation?= 6 produced a mean of 47. The 99% confidence interval for the population mean (rounded to two decimal places) is:The lower limit is _____The upper limit is _____3. The mean federal income tax paid last year by a random sample of 40 persons selected from a city was $4267. Suppose the standard deviation of tax paid in this city is ? = $978. The 95% confidence interval for the population mean (rounded to two decimal places) is:The lower limit is $_____The upper limit is $_____4.A researcher wants to test if the mean price of houses in an area is greater than$145,000. The alternative hypothesis for this example will be that the population mean is:Agreater than or equal to $145,000Bnot equal to $145,000Cgreater than $145,000Dequal to $145,0005. A researcher wants to test if elementary school children spend less than 30 minutes per day on homework. The alternative hypothesis for this example will be that the population mean is:Anot equal to 30 minutesBless than 30 minutesCless than or equal to 30 minutesDequal to 30 minutes6. Thep-value is the:Asmallest significance level at which the null hypothesis can be rejectedBsmallest significance level at which the alternative hypothesis can be rejectedClargest significance level at which the null hypothesis can be rejectedDlargest significance level at which the alternative hypothesis can be rejected7. The following four steps must be taken to perform a hypothesis test using thep-value approach:1. Calculate thep-value.2. Select the distribution to use.3. Make a decision.4. State the null and alternative hypotheses and determine the significance level.The correct order for performing these steps is:A4, 2, 1, 3B3, 2, 1, 4C4, 1, 2, 3D2, 3, 1, 48. A random sample of 88 customers, who visited a department store, spent an average of$75 at this store. Suppose the standard deviation of expenditures at this store is?=$22. The 98% confidence interval for the population mean (rounded to two decimal places) is:The lower limit is $_____The upper limit is $_____9. The mean IQ score of a sample of 62 students selected from a high school is 89. Suppose the standard deviation of IQ’s at this school is ? = 7.2. The 99% confidence interval for the population mean (rounded to two decimal places) is:The lower limit is _____The upper limit is _____10. For a two-tailed test, thep-value is:Athe area under the curve between the mean and the observed value of the sample statisticBtwice the area under the curve between the mean and the observed value of the sample statisticCthe area in the tail under the sampling distribution curve beyond the observed value of the sample statisticDtwice the area in the tail under the the sampling distribution curve beyond the observed value of the sample statistic