1. A value that gives the maximum possible deviation between the point estimate of a parameter and the true value of the parameter.

A. Standard Error of the Mean

B. Degree of Confidence

C. Margin of Error

D. Minimum Sample Size

2. Consistency is key. Whenever we say that a product is of better quality, it refers to the variability in production. Say it is expected that a set of batteries should approximately last 20 hours with a variability of 1-2 hours. I want to test if the quality of a new brand of batteries is comparable to the average. What test should I perform?

A. One sample chi-square test

B. One sample proportion z-test

C. Two sample proportion z-test

D. Two sample F-test

3. The manufacturer of a patent medicine claimed that it was 90% effective in relieving an allergy for period of 8 hours. He then proves this claim by selecting a simple random sample of allergy patients. To test the legitimacy of the manufacturer's claim, what test of hypothesis should we use?

A. One sample t-Test

B. Two sample t-Test for paired samples

C. Two sample z-Test for proportions

D. One sample z-Test for proportions

4. Which of the following is a characteristic of a confidence interval?

A. It is constructed using the point estimate, standardized statistic, and standard deviation

B. A higher confidence level results to a narrower interval

C. A confidence interval presents a range which shows the only values a point estimate can take.

D. A confidence interval of a population will always be consistent.