(Direction 1 - 2) Answer the following question. Each question carries 2 marks.
Q. A Life Insurance Company has 1500 policies averaging Rs.2000 on lives at age 30. From experience, it is found that out of 100,000 alive at age 30, 99,000 survive at age 31. What is the lower value of the amount that the company will have to pay in insurance during the year?
If it is known that the 95% LCL and UCL to population mean are 48.04 and 51.96 respectively, what is the value of the population variance when the sample size is 100?
Statistical data may be collected by complete enumeration called
Statistical data may be collected by partial enumeration called
The primary object of sampling is to obtain —————— information about population with ————— effort.
A —————— is a complete or whole set of possible measurements/data corresponding to the entire collection of units.
A —————— is the set of measurement/data that are actually selected in the course of an investigation/enquiry.
Sampling error is —————— proportional to the square root of the number of items in the sample.
Two basic Statistical laws concerning a population are
The —————— the size of the sample more reliable is the result.
Sampling is the process of obtaining a
By using sampling methods we have
Under —————— method selection is often based on certain predetermined criteria.
——————— sampling is similar to cluster sampling.
Value of a —————— is different for different samples.
A statistic is a ——————— variable.
The distribution of a —————— is called sampling distribution of that ——————.
A ——————— distribution is a theoretical distribution that expresses the functional relation between each of the distinct values of the sample statistic and the corresponding probability.
Sampling distribution is a frequency distribution.
Sampling distribution approaches ——————— distribution when the population distribution is not normal provided the sample size is sufficiently large.
The Standard deviation of the ————————— distribution is called standard error.
The difference of the actual value and the expected value using a model is
The measure of divergence is ——————— as the size of the sample approaches that of the population.
The distribution of sample —————— being normally or approximately normally distributed about the population.
The standard error of the —————— is the standard deviation of sample means.
There are ————— types of estimates about a population parameter.
To estimate an unknown population parameter
When we have an idea of the error that might be involved, we use
The estimate which is used in making estimation of a population parameter is
A —————— estimate is a single number.
A range of values is
If we do not have any knowledge of population variance, then we have to estimate it from the
The sample standard deviation may be a good estimate for population standard deviation in case of ——————— samples.
The sample standard deviation is a biased estimator of population standard deviation in case of —————— samples.
If the expected value of the estimator is the value of the parameter of estimation then a good estimator shall be
The difference between sample S.D and the estimate of population S.D is negligible if the sample size is
Finite population multiplier is
Sampling fraction is
The standard error of the mean for finite population is very close to the standard error of the mean for infinite population when the sampling fraction is
The finite population multiplier is ignored when the sampling fraction is