Question

In the space provided write either “true” or “false.” If the statement is false then explain why.

1. A point estimate, also called a statistic, is a single value that describes the population of interest, with the sample mean being the most common.

2. The margin of error is the width of the confidence interval between the lower limit and the upper limit.

3. The alternative hypothesis represents the status quo and involves stating the belief that the population parameter is ≤, =, or ≥ a specific value and is always associated with the equal sign.

4. A z-score measures the number of standard deviations a value is from its median.

5. Suppose Nike’s average stock price this year is $15.00 with a standard deviation of $3.00, and Under Armour’s average stock price this year is $24.00 with a standard deviation of $4.00. According to this data, Nike’s stock price is more consistent than Under Armour’s stock price.

6. The Central Limit Theorem states that sample means, drawn from a normally distributed population, will be normally distributed.

Answer 1

its mandatory to answer only first four parts as HOMEWORKLIB RULES policy

1) true

Point estimate of a parameter is a single value, that is the most sensible value for population parameter.

2) false

Margin of error is half the confidence interval, from point estimate to lower or upper limit

3) false.

Only null hypothesis represents the status quo.

Alternative hypothesis is belief against which the null hypothesis is tested

4) false

Z score measure number of standard deviation from its mean value