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Free CFA-Level-I Exam Braindumps (page: 204)

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PDF with 3963 Questions

All possible samples of size n are selected from a population and the mean of each sample is determined.
What is the mean of the sample mean?

  1. Cannot be estimated in advance
  2. None of these answers
  3. Exactly the same as the population mean
  4. Larger than the population mean
  5. Smaller than the population mean

Answer(s): C

Explanation:

If we selected all possible samples from the population, then the sample mean will be equal to the population mean. Only when we cannot select all possible samples will be a difference.



What deposit today is needed to have $2,000 in 4 years, assuming the money will earn interest at 6% per year, compounded monthly?

  1. $1,934.02
  2. $1,290.81
  3. $1,574.20
  4. $1,384.57
  5. $1,900.00

Answer(s): C

Explanation:

On the BAII Plus, press 48 N, 6 divide 12 = I/Y, 0 PMT, 2000 FV, CPT PV. On the HP12C, press 48 n, 6 ENTER 12 divide i, 0 PMT, 2000 FV, PV. Make sure the BAII Plus has the P/Y value set to 1.



A bell-shaped, symmetrical frequency distribution has a mean of 50. If 68% of the observations in the distribution fall between 40 and 60, what's the range within which 99% of the observations in the distribution fall?

  1. [19.79; 80.21]
  2. [23.1; 76.9]
  3. [30; 70]
  4. [24.2; 75.8]

Answer(s): D

Explanation:

For a bell-shaped, symmetrical frequency distribution, approximately 68% of the observations lie within one standard deviation of the mean. The mean equals (40 + 60)/2 = 50. Therefore, the standard deviation equals 50
- 40 = 10. Now, by the normal rule, 99% of the observations lie within 2.58 standard deviations of the mean.
Hence, the requisite range equals [50 - 2.58*10, 50 + 2.58*10] = [24.2, 75.8].



The significance level of a test is usually equal to which of the following:

  1. The power of a test.
  2. The probability of a Type I error.
  3. None of these answers is correct.
  4. The probability of a Type II error.
  5. More than one of these answers is correct.
  6. (1 - the probability of a Type I error).

Answer(s): B

Explanation:

The standard method of hypothesis testing involves stating the significance level as equal to the probability of incorrectly rejecting the null hypothesis. This action is defined as a Type I error. The converse of a Type I error, in which the null hypothesis is incorrectly rejected, is a Type II error, in which a false null hypothesis is mistakenly accepted.






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