TMA2/ECO254

My TMA Home TMA Results My Pending TMA Quick Help TMA Quiz Questions TMA: TMA2/ECO254 Matric Number:  SCORE=10.00 ECO254 - Statistics For Economist II Mr. Olusanya Samuel Olumuyiwa (oolusanya@noun.edu.ng ) 1 Rejection of the null hypothesis is a conclusive proof that the alternative hypothesis is TRUE FALSE Neither None of the above 2 Parametric test, unlike the non-parametric tests, make certain assumptions about The population size The underlying distribution The sample size All of the above 3 The level of significance can be viewed as the amount of risk that an analyst will accept when making a decision TRUE FALSE Neither None of the above 4 By taking a level of significance of 5% it is the same as saying We are 5% confident the results have not occurred by chance We are 95% confident that the results have not occurred by chance We are 95% confident that the results have occurred by chance We are 99% confident that the results have occurred by chance 5 One or two tail test will determine If the two extreme values (min or max) of the sample need to be rejected If the hypothesis has one or possible two conclusions If the region of rejection is located in one or two tails of the distribution None of the above 6 Two types of errors associated with hypothesis testing are Type I and Type II. Type II error is committed when We reject the null hypothesis whilst the alternative hypothesis is true We reject a null hypothesis when it is true We accept a null hypothesis when it is not true We reject alternative hypothesis when it is true 7 ___ occurs when/if an hypothesis (Null hypothesis) is rejected when it should be accepted alternative hypothesis type two error type one error All of the above 8 In our day to day business activities, type 1 error is known as Transation cost consumer risk Producer risk Production cost 9 In business activities, type two error is known as Cost analysis Business cost Business risk Consumer risk 10 If a murderer is taken to court and the judge frees him, he has committed a ___ error type three type two type one All of the above 11 Assuming a study director in NOUN who is supposed to raise alarm when a student presents forged certificates then make a false alarm which indicate he is rejecting a true hypothesis, this shows that he has committed a _____ error type one type two type three None of the above 12 Using the information in question 11, a missed alarm implies that he is accepting that the certificate is genuine when he should reject it and thus committing a _____ error type four type two type one None of the above 13 If the Ikeja study center director of NOUN affirm that EBOLA patient was found among NOUN students in the center and which was later found out that the information was false, which mean accepting what is not true. This is an example of type one error type two error type three error type four error 14 Level of significance means _____ the maximum probability of risking a type 1 error the maximum probability of risking a type 2 error the minimum probability of risking a type 1 error the minimum probability of risking a type 2 error 15 ____ is a statistical test in which the critical area of a distribution is one-sided so that it is either greater than or less than a certain value one tailed test two tailed test hypothesis test All of the above 16 ____is a statistical test in which the critical area of a distribution is two sided and tests whether a sample is either greater than or less than a certain range of values two tailed test one tailed test three tailed test None of the above 17 The mean of 25 samples selected from a population of mean, μ and variance 100 is 59. Test the hypothesis〖 H〗_0: μ=56 vs H_1: μ>56 at 0.05 level of significance. 1.3 1.44 1.5 none of the above 18 A midwife claims that the mean weights of babies delivered at her maternity clinic is 3.7kg. A statistician takes a sample of 6 babies and obtains the following weights: 2.7, 2.4, 3.1, 3.4, 3.6, 2.6. Test the midwife’s claim at 0.05 level of significance 0.32 38.1 32.1 None of the above 19 2.7, 2.4, 3.1, 3.4, 3.6, 2.6, 3.9, 4.4, 3.8, 3.5. Test the midwife’s claim at 0.05 level of significance 13.33 and 22.88 16.99 and 23.87 16.96 and 23.84 14.96 and 23.77 20 In a statistics examination for Secondary School, 22 females used in the study has a mean score of 81 and a variance of 12 while the 20 males used had a mean score 78 and a variance of 10. Compute the confidence intervals at 0.05 0.92 and 5.08 0.99 and 4.32 088 and 4.08 None of the above