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17. An economist increases the confidence level from 90% to 99% assuming all else stays the same. What happens to the confidence interval?

21. If the sample size being used to calculate confidence is increased from 100 to 900, while everything else stays the same, which of the following is true about the margin of error?

34. If the actual satisfaction rate is 70% (p = 0.70), what is the approximate power of the test? Round your answer to nearest number in terms of percentage

9. A population distribution of household income is heavily right-skewed. A student observes this data and notes: “Sample averages from samples of size n=100 will also be heavily skewed.” Which response is the best?

Use the following scenario to answer questions 32-35. A restaurant chain claims that at least 75% of its customers are satisfied with their dining experience.  A business analyst wants to test this claim.  A random sample of 200 customers is surveyed and 140 report being satisfied.  The analyst provides the power curve shown below.                                              32. What is the correct alternative hypothesis?

19. A 95% confidence interval for the proportion of consumers delaying major purchases is (0.41, 0.49). Which statement is correct?

22. To conduct the hypothesis test about the population proportion, once the hypotheses are stated, we always begin the test by assuming

Cumulative Standard Normal.pdf   Student_t_Table.pdf   BUSOBA2320_Sharpe_Formulas_SP25.pdf

1. A production manager tracks daily manufacturing output and finds that the dataset has a variance of exactly 0. Which interpretation is MOST meaningful for a business analysis?

16. A survey estimates that 48% of small businesses plan to hire more workers. If a 95% confidence interval based on this estimate has a margin of error of 4 percentage points, how many small businesses were surveyed (i.e., what was the sample size)?