QNT275-Estimation is a procedure by which we assign

1.Estimation is a procedure by which we assign a numerical value or numerical values to the:population parameter based on the information collected from a samplepopulation parameter based on the information collected from a populationsample statistic based on the information collected from a populationsample statistic based on the information collected from a sample2.A sample of size 83 from a population having standard deviation ? = 6 produced a mean of 45. The 99% confidence interval for the population mean (rounded to two decimal places) is:A.The lower limit is =B.The upper limit is =3.The mean federal income tax paid last year by a random sample of 35 persons selected from a city was $4314. Suppose the standard deviation of tax paid in this city is ? = $789. The 95% confidence interval for the population mean (rounded to two decimal places) is:A. The lower limit is $=B. The upper limit is $=4.A researcher wants to test if the mean price of houses in an area is greater than $145,000. The alternative hypothesis for this example will be that the population mean is:equal to $145,000not equal to $145,000greater than or equal to $145,000greater than $145,0005.A researcher wants to test if elementary school children spend less than 30 minutes per day on homework. The alternative hypothesis for this example will be that the population mean is:not equal to 30 minutesequal to 30 minutesless than 30 minutesless than or equal to 30 minutes6. The p-value is the:largest significance level at which the alternative hypothesis can be rejectedsmallest significance level at which the alternative hypothesis can be rejectedsmallest significance level at which the null hypothesis can be rejectedlargest significance level at which the null hypothesis can be rejected7. The following four steps must be taken to perform a hypothesis test using the p-value approach:1. Calculate the p-value.2. Select the distribution to use.3. Make a decision.4. State the null and alternative hypotheses and determine the significance level.The correct order for performing these steps is:3, 2, 1, 44, 2, 1, 32, 3, 1, 44, 1, 2, 38. A random sample of 107 customers, who visited a department store, spent an average of $70 at this store. Suppose the standard deviation of expenditures at this store is ? = $17. The 98% confidence interval for the population mean (rounded to two decimal places) is:A. The lower limit is $=B. The upper limit is $=9. The mean IQ score of a sample of 55 students selected from a high school is 92. Suppose the standard deviation of IQ’s at this school is ? = 8.1. The 99% confidence interval for the population mean (rounded to two decimal places) is:A. The lower limit is =B. The upper limit is =10. For a two-tailed test, the p-value is:the area under the curve between the mean and the observed value of the sample statistictwice the area in the tail under the sampling distribution curve beyond the observed value of the sample statistictwice the area under the curve between the mean and the observed value of the sample statisticthe area in the tail under the sampling distribution curve beyond the observed value of the sample statistic