Q1) Calculate population mean margin of error for 99% confidence interval when sigma is 4 and sample size is 36.

A) ± 1.7166...

B) ± 1.0966...

C) ±1.3066...

D) None of these

Q2) An auditor wishes to evaluate what proportion of bank's commercial loan files is incomplete. Auditor wishes to be within 4% of true proportion when using a 95% confidence level. How many files should auditor sample? No estimate of proportion is available, so use 0.5 for population proportion.

Q3) Standard IQ test has mean of 98 and standard deviation of 16. We wish to be 90% certain that we are within 8 IQ points of true mean. Find out sample size.

a)11

b) 10

c) None of these

d) 27

Q4) Let us suppose you have taken 100 samples of size 64 each from normally distributed population. Compute the standard deviation of sample means if population's variance is 49.

Q5) In standard normal distribution standard deviation is always ___

a) 0

b) 2

c) 1

d) None of these