Leaving Cert Financial Maths Set A Questions - L.C. Maths

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Start with the quiz…

Knowledge Check Quiz

EXAMS.IE

Financial Maths

Hint

We are given information about a sample.

1 / 5

If \(30\) people out of a sample of \(200\) people are vegan, we can infer that \(15\%\) of the population is vegan.

True

False

This is instead true about the sample, not the population.

That's right!

This is instead true about the sample, not the population.

Hint

\(\hat{p}\) represents a proportion.

2 / 5

If \(30\) people out of a sample of \(200\) people are vegan, which of the following is \(\hat{p}\)?

\(30\)

\(\dfrac{30}{200}\)

\(\dfrac{30}{200}\times100\)

\(200\)

\(\hat{p}\) represents a proportion.

That's right!

\(\hat{p}\) represents a proportion.

Hint

The margin of error is \(\dfrac{1}{\sqrt{n}\), where \(n\) is the sample size.

3 / 5

If \(30\) people out of a sample of \(200\) people are vegan, which of the following is the margin of error for a \(95\%\) confidence interval?

\(\dfrac{1}{\sqrt{30}}\)

\(\dfrac{1}{30}\)

\(\dfrac{1}{\sqrt{200}}\)

\(\dfrac{1}{200}\)

The margin of error is \(\dfrac{1}{\sqrt{n}\), where \(n\) is the sample size.

That's right!

The margin of error is \(\dfrac{1}{\sqrt{n}\), where \(n\) is the sample size.

Hint

The standard error is \(1.96\sqrt{\dfrac{\hat{p}(1-\hat{p})}{n}}\).

4 / 5

If \(30\) people out of a sample of \(200\) people are vegan, which of the following is the standard error for a \(95\%\) confidence interval?

\(\sqrt{\dfrac{0.15(1-0.15)}{200}}\)

\(1.96\sqrt{\dfrac{0.15(1-0.15)}{200}}\)

\(\sqrt{\dfrac{0.3(1-0.3)}{200}}\)

\(1.96\sqrt{\dfrac{0.3(1-0.3)}{200}}\)

The standard error is \(1.96\sqrt{\dfrac{\hat{p}(1-\hat{p})}{n}}\).

That's right!

The standard error is \(1.96\sqrt{\dfrac{\hat{p}(1-\hat{p})}{n}}\).

Hint

The standard error includes more variables that we know.

5 / 5

The margin of error is considered to be more accurate than the standard error.

True

False

The opposite is instead true.

That's right!

The opposite is instead true.

Your score is

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