This quiz works best with JavaScript enabled. Home > Finance > Economics > Agricultural Economics > Agricultural Statistics And Economics > Agricultural Statistics And Economics – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Agricultural Statistics And Economics Quiz 3 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A random sample of 100 visitors to a popular theme park spent an average of $ 142 on the trip with a standard deviation of $ 47.5. Which of the following would be the 98% confidence interval for the mean money spent by all visitors to this theme park? A) ($ 132.69, $ 151.31). B) ($ 132.57, $ 151.43). C) ($ 130.77, $ 153.23). D) ($ 140.88, $ 143.12). Show Answer Correct Answer: C) ($ 130.77, $ 153.23). 2. One reason for using a t distribution instead of the standard Normal curve to find critical values when calculating a level C confidence interval for a population mean is that A) Z can be used only for large samples. B) Z requires that you know the population standard deviation. C) Z requires that you can regard your data as an SRS from the population. D) Z requires that the sample size is at most 10% of the population size. E) A z critical value will lead to a wider interval than a t critical value. Show Answer Correct Answer: B) Z requires that you know the population standard deviation. 3. , 31, 37, 46, 29, 38What is the interquartile range of the data? A) 9. B) 13. C) 8. D) 21. Show Answer Correct Answer: B) 13. 4. All qualitative variables are measured on a nominal scale. A) Data. B) Ordinal Data. C) Ratio Scales. D) Nominal Data. E) Interval Scales. Show Answer Correct Answer: D) Nominal Data. 5. In a crash test of 15 troopers, collision repair costs are found to have a distribution that is approximately normal, with a mean of $ 1800 and a standard deviation of $ 950. Construct a 99% confidence interval for the repair cost. A) (1070, 2530). B) (1273, 2326). C) (1799, 1801). D) None of these. Show Answer Correct Answer: A) (1070, 2530). 6. A keyboarding instructor at a community college collected data comparing a student's age and their typing speed. The equation for the line of best fit is given as:y =-1.4x + 117.8 If you are 25 years of age (x), what is your typing speed (y)? A) 102 words per minute. B) 83 words per minute. C) 63 words per minute. D) 153 words per minute. Show Answer Correct Answer: B) 83 words per minute. 7. One who provides service to others for a payment is known as- A) Service holder. B) Consumer. C) Employee. D) Service provider. Show Answer Correct Answer: D) Service provider. 8. Until the scale was changed in 1995, SAT scores were based on a scale set many years ago. For math scores, the mean under the old scale in the 1990's was 470 and the standard deviation was 110. In 2009, the mean was 515 and the standard deviation was 116. What is the standardized score (z-score) for a student who scored 530 on the old SAT scale? A) 525.73. B) 0.55. C) -0.55. D) 0.13. Show Answer Correct Answer: B) 0.55. 9. High school textbooks don't last forever. The lifespan of all high school statistics textbooks is approximately Normally distributed with a mean of 9 years and a standard deviation of 2.5 years. What percentage of books last more than 10 years? A) 34.5%. B) 11.5%. C) 69%. D) 65.5%. Show Answer Correct Answer: A) 34.5%. 10. Scores on a certain standardized test have a mean of 500, and a standard deviation of 100. How common is a score between 600 and 700? Calculate the probability. A) 16%. B) 13.5%. C) 2.5%. D) 2.35%. Show Answer Correct Answer: B) 13.5%. 11. What is the critical value (t*) for a sample of 55 for 88% confidence? A) 1.580. B) -2.54. C) .239. D) -1.118. Show Answer Correct Answer: A) 1.580. 12. A sample of 20 cupcakes found the interval for calories to be (150, 350). Which is the correct interpretation of the 95% confidence interval? A) We are 95% confident that the true mean calorie content can be found with a sample of 150 to 350 cupcakes. B) We are 95% confident that the true mean calorie content in cupcakes is between 150 and 350 calories. C) We are 95% confident that a sample of 20 cupcakes will find 250 calories per cupcake. D) In repeated sampling, 95% of the calories in the cupcakes will be between 150 and 350. Show Answer Correct Answer: B) We are 95% confident that the true mean calorie content in cupcakes is between 150 and 350 calories. 13. What are the distinguishing features of simple random sampling? A) Random numbers determine which elements are included in the sample. B) Each element in the population has a known and equal probability of selection. C) A sampling frame must be compiled in which each element has a unique identification number. D) Each possible sample of a given size has a known and equal probability of being the sample actually selected. E) All of the above. Show Answer Correct Answer: E) All of the above. 14. In a factory, the weight of the concrete poured into a mold by a machine follows a normal distribution with a mean of 1150 pounds and a standard deviation of 22 pounds. Approximately 95% of molds filled by this machine will hold weights in what interval? A) 1106 to 1194 pounds. B) 1106 to 1150 pounds. C) 1128 to 1172 pounds. D) 1084 to 1216 pounds. Show Answer Correct Answer: A) 1106 to 1194 pounds. 15. Learning process, measurement and evaluation, educational studies, environment, management and finance. A) Economics. B) Education. C) Agriculture. D) Business. E) Automatic Data Processing. Show Answer Correct Answer: B) Education. 16. A quality control specialist at a glass factory must estimate the mean clarity rating for a new batch of glass using a sample of 18 glass sheets from the batch. Past investigations show that clarity ratings are normally distributed. The specialist decides to use a t-distribution rather than a z-distribution because ..... A) The sample size is too small for a z-distribution. B) Clarity ratings for the entire bacth are normally distributed. C) The t-distribution will create a narrower interval than z. D) The standard deviation for the batch is unknown. Show Answer Correct Answer: D) The standard deviation for the batch is unknown. 17. ..... defines economics as the study of man in the ordinary business of life. A) Alfred Marshall. B) Paul krugman. C) Milton friedman. D) Adam Smith. Show Answer Correct Answer: A) Alfred Marshall. 18. The most fundamental economic problem is A) Health. B) Security. C) Export and import. D) Scarcity. Show Answer Correct Answer: D) Scarcity. 19. Which of the following does NOT have an affect on the width of a confidence interval? A) Sample mean. B) Confidence Level. C) Sample standard deviation. D) Sample size. Show Answer Correct Answer: A) Sample mean. 20. A famous medical experiment was conducted by the Nobel Laureate Linus Pauling who believed that vitamin C prevents colds. His subjects were 279 French skiers who were randomly assigned to receive vitamin C or a placebo. Of the 139 given vitamin C, 17 got a cold. Of the 140 given the placebo, 31 got a cold. Find and interpret a 95% confidence interval for the difference of two proportions. A) 2-sample t-interval (difference in means). B) 1-proportion z-interval. C) 1-sample t-interval(mean difference). D) 2-proportion z-interval. Show Answer Correct Answer: D) 2-proportion z-interval. 21. Which type of sample does a researcher deliberately set the proportions of levels of members chosen within a sample? A) Random sample. B) Stratified sample. C) Quota sample. D) Convenience sample. Show Answer Correct Answer: B) Stratified sample. 22. Which of the following are true statements? I. Correlation requires that there are clearly-identified explanatory and response variables.II. Scatterplots require that both variables be quantitative.III. Every least-squares regression line passes through $ \left(\overline{x}, \ \overline{y}\right)$ A) I and II. B) I and III. C) I, II, and III. D) III. E) II and III. Show Answer Correct Answer: E) II and III. 23. The 99% confidence interval for a proportion is (0.54, 0.72). What is the point estimate? A) Pi=0.18. B) P-hat=0.63. C) P-hat=0.09. D) Pi=0.63. Show Answer Correct Answer: B) P-hat=0.63. 24. When we test np and n(1-p) to ensure they are both greater than or equal to 10, what are we trying to determine? A) The standard deviation. B) The test statistic. C) If any bias is present. D) If the data is normal. Show Answer Correct Answer: D) If the data is normal. 25. When p-value is greater than alpha we: A) Fail to reject Ho. B) Accept Ha. C) Reject Ho. D) Accept Ho. Show Answer Correct Answer: A) Fail to reject Ho. 26. If 5 is added to every value in a data set, how does this affect the measure of center? A) Increases by 5. B) 5 times as large. C) Stay the same. D) Decreases by 5. Show Answer Correct Answer: A) Increases by 5. 27. Which of the following statement is incorrect? A) Resources have alternative uses. B) Macroeconomics studies large aggregates. C) All numbers are statistics. D) Statistics studies only the aggregate of quantitative facts. Show Answer Correct Answer: C) All numbers are statistics. 28. What type of sampling? Twenty-five students are randomly selected from each grade level at a high school and surveyed about their study habits. A) Simple Random sample. B) Convenience sample. C) Stratified Random sample. D) Cluster Sample. Show Answer Correct Answer: C) Stratified Random sample. 29. The correlation between the heights of fathers and the heights of their (fully grown) sons isr = 0.52. This value was based on both variables being measured in inches. If fathers'heights were measured in feet (one foot equals 12 inches), and sons' heights were measuredin furlongs (one furlong equals 7920 inches), the correlation between heights of fathers andheights of sons would be A) Much smaller than 0.52. B) Slightly smaller than 0.52. C) Unchanged:equal to 0.52. D) Slightly larger than 0.52. E) Much larger than 0.52. Show Answer Correct Answer: C) Unchanged:equal to 0.52. 30. What is the critical value z* for a 99% confidence interval? A) -2.58. B) 1.96. C) -1.64. D) 2.58. Show Answer Correct Answer: D) 2.58. ← PreviousNext →Related QuizzesAgricultural Economics QuizzesEconomics QuizzesAgricultural Statistics And Economics Quiz 1Agricultural Statistics And Economics Quiz 2Agricultural Statistics And Economics Quiz 4Agricultural Statistics And Economics Quiz 5Agricultural Statistics And Economics Quiz 6Agricultural Statistics And Economics Quiz 7Agricultural Statistics And Economics Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books