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21) Which of the following may be used to estimate a “best,” “pessimistic,” and “optimistic,” value of market potential? A) mean, median, mode B) a confidence interval C) hypothesis test (three) D) the theoretical market potential estimator E) intuitive hypothesis tests (three) 22) Which of the following refers to a statistical procedure used to accept or reject some exact specification as to what the population parameter is based on sample information? A) confidence analysis B) acceptance testing C) hypothesis testing D) support analysis E) inference testing 23) Which of the following is NOT used to test hypotheses? A) sample finding B) parameter C) standard error of the sample finding D) hypothesized parameter value E) desired level of confidence 24) A statement about the population parameter based on prior knowledge, assumptions, or intuition is called a(n): A) hypothesis. B) estimator. C) alternative. D) acceptor. E) guess. 25) In ____________ hypothesis testing, someone uses something observed to see if it agrees with or goes against the belief about that topic. A) observation B) descriptive C) visual D) subjective E) intuitive 26) Which of the following is an example of a directional hypothesis? A) The population percentage is equal to 60%. B) The population percentage is not equal to 60%. C) The population mean is equal to $50. D) The population percentage is less than 70%. E) The population mean is equal to 100. 27) In hypothesis testing, given the standard error of the percentage (or mean) remains constant, the closer the hypothesized value is to the sample statistic: A) the smaller the z. B) the larger the z. C) the more likely the z is to approach 100. D) the z nears 0. E) the z nears 2.58. 28) A toy store owner hypothesizes that parents spend less than $100 on toys per visit to her store. This is a(n): A) hypothesis. B) directional hypothesis. C) negative hypothesis. D) positive hypothesis. E) alternative hypothesis. 29) If we make a hypothesis and wish to be 95 percent confident in testing the hypothesis, a z score that supports the hypothesis will fall ________ of + 1.96: A) inside B) outside C) near, but not inside D) near, but not alongside E) within some multiple 30) The sample finding and hypothesized population parameter are compared because in a hypothesis test, one tests the __________ hypothesis, a formal statement that there is no difference. A) sample B) alternative C) null D) parameter E) directional

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