Multiple Choice
In the context of statistics, which of the following best describes a confidence interval?
7. Sampling Distributions & Confidence Intervals: Mean
Introduction to Confidence Intervals
Back7. Sampling Distributions & Confidence Intervals: Mean
Introduction to Confidence Intervals
- Multiple ChoiceWhich of the following best describes the purpose of a confidence interval in statistics?
- Multiple ChoiceWhich of the following analytical techniques is primarily used to estimate a population parameter based on sample data?
- Multiple ChoiceGiven the following forecast and actual demand data for four periods: Forecasts = [100, 120, 130, 110], Actual Demands = [110, 115, 125, 120], what is the Mean Absolute Percentage Error (MAPE) for these periods?
- Multiple ChoiceBased on the analysis of the Classic Burger sales by coupon usage, which of the following statements is correct?
- Multiple ChoiceWhich of the following is NOT a valid method for increasing the precision of a confidence interval?
- Multiple ChoiceA Net Promoter Score (NPS) would be used to measure which of the following outcomes?
- Multiple Choice
Find for a 90% confidence interval.
- Multiple Choice
A market analyst is estimating the average monthly spending on online subscriptions among young adults. The point estimate y for the average monthly spending is , with a margin of error of at a confidence level. Write and interpret a Confidence Interval for the average monthly spending.
- Multiple Choice
Find the critical value, , for an 80% confidence interval.
- Multiple Choice
A company is interested in estimating lunch costs in their cafeteria, so they survey employees asking for their monthly lunch expenses. The staff calculated a 95% confidence interval for the mean amount of money spent on lunch to be ($580, $720). What are the point estimate and margin of error for this sample data?