3. Statistical Methods
Sampling And Estimation — Quiz
Test your understanding of sampling and estimation with 5 practice questions.
Practice Questions
Question 1
What is the main purpose of creating a confidence interval in estimation?
Question 2
Which of the following factors would lead to a wider confidence interval, assuming all other factors remain constant?
Question 3
A business analyst wants to estimate the average time customers spend on their website. They collect data from a random sample of 100 customers and find a sample mean of 15 minutes with a sample standard deviation of 5 minutes. If they want to construct a 90% confidence interval for the true average time, what would be the critical value (z-score) used, assuming a large enough sample size for a z-distribution?
Question 4
What is the primary advantage of using stratified random sampling over simple random sampling?
Question 5
When constructing a confidence interval for a population mean, what happens to the margin of error as the sample size increases, assuming the confidence level and standard deviation remain constant?