1.

Which of the following statements is correct?

Select one:

A. Increasing the sample size has no effect on sampling error.

B. Increasing the sample size, decreases bias.

C. Increasing the sample size does not decrease bias.

D. Increasing the sample size does not decrease sampling error.

2.

Which of the following best describes the Central Limit Theorem?

Select one:

A. The sampling distribution of the sample mean is approximately normal for samples n ? 30.

B. The sampling distribution of the sample mean is approximately normal for samples n ? 300.

C. The distribution of a random variableX will always be normal.

D. IfXis normal, thenXwill be normal.

3.

An analyst is researching the relationship between thedaily sales revenue($000's) of a store and thenumber of hoursthe store isclosed,theannual advertising expenditure($) and thenumber ofstaffemployed in the store.The Excel output is shown below.

Regression Statistics Multiple R 0.908 R Square 0.824 Adjusted R Square 0.772 Standard Error 2.230 Observation 14 Coefficients Standard P- t Stat Lower Upper error value 95% 95% Intercept 15.827 5.976 2.648 0.024 2.510 29.145 Hours closed -1.505 0.695 -2.162 0.055 -3.055 0.045 Advertising 0.073 0.030 2.452 0.034 0.003 0.140 Staff 4.326 1.347 3.211 0.009 1.325 7.328