This quiz is a part of the CFA Level 1 reading 'Sampling and Estimation'. 

Sampling and Estimation

Only receiving responses from half of the people in the sample. 

Conducting interviews by telephone instead of in person. 

Using a random sample of students at a university to estimate the proportion of people who think that the work experience requirement to become a CFA charterholder should be reduced.

The standard error measures, roughly, the average difference between the statistic and the population parameter. 

The standard error can never be a negative number. 

The standard error increases as the sample size(s) increases

A confidence interval is an interval of values computed from sample data that is likely to include the true population value. 

A confidence interval between 20% and 40% means that the population proportion lies between 20% and 40%. 

A 99% confidence interval procedure has a higher probability of producing intervals that will include the population parameter than a 95% confidence interval procedure.

The sampling distribution will be positively skewed

The sampling distribution will be normally distributed

The standard deviation of sampling distribution will be equal to the standard deviation of population

Its shape is characterized by the degrees of freedom.

As the sample size increases, it approaches the normal distribution.

Sampling and Estimation

Sampling and Estimation

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