Estimating Parameters and Determining Sample Sizes 7-1

The process of estimating a population proportion is known as:

• Sampling

• Hypothesis Testing

• Estimation

• Regression Analysis

How do you estimate a population mean?

• By using a sample mean

• By using a sample median

• By using a sample mode

• By using a sample range

What methods are used for estimating a population standard deviation or variance?

• Sample standard deviation

• Population mean

• Sample mean

• Population variance

Explain the concept of bootstrapping and how technology is used for estimates.

• Bootstrapping is a statistical method that uses resampling to estimate the distribution of a statistic.

• Bootstrapping is a method of starting a business with minimal resources.

• Bootstrapping is a technique in computer science for optimizing algorithms.

• Bootstrapping is a financial strategy for leveraging debt.

What is the best point estimate of the population proportion?

• Sample mean

• Sample proportion

• Population mean

• Population proportion

How can we use a sample proportion to construct a confidence interval estimate of the true value of a population proportion?

• By using the sample proportion as an estimate and applying the standard error formula.

• By calculating the mean of the sample and using it as the population proportion.

• By using the sample proportion to determine the population mean.

• By applying the sample proportion directly as the population proportion without adjustments.

Why is it important to know how to find the sample size necessary to estimate a population proportion?

• To ensure the sample accurately represents the population

• To save time and resources

• To avoid bias in data collection

• To comply with statistical regulations

• point estimate

• interval estimate

• population mean

• sample variance

The Chapter Problem included reference to a Sallie Mae survey of 950 undergraduate college students, and 53% of them said that they take online courses. Based on that result, find the best point estimate of the proportion of all undergraduate college students who take online courses.

• 53%

• 47%

• 50%

• 55%

The sample proportion is considered the best point estimate of the population proportion in the context of estimating the percentage of undergraduate college students who take online courses because:

• it is unbiased and has the smallest variance among all unbiased estimators.

• it is always equal to the population proportion.

• it is easier to calculate than other estimators.

• it is the only estimator available.