A 99% Confidence Interval Estimate Can Be Interpreted to Mean

question 30

Multiple Choice

A 99% confidence interval estimate can be interpreted to mean that

• A)if all possible sample sizes of n are taken and confidence interval estimates are developed,99% of them would include the true population mean somewhere within their interval.
• B)we have 99% confidence that we have selected a sample whose interval does include the population mean.
• C)Both of the above.
• D)None of the above.

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Definitions:

MPC

Marginal Propensity to Consume, indicating the increase in personal consumer spending (consumption) that occurs with an increase in disposable income.

Internally Held

Pertains to public debt that is owed to lenders within a country rather than external lenders.

Public Debt

The total amount of money that a country's government has borrowed by various means, including foreign governments and international organizations.

Productive Capacity

The maximum output that an economy can achieve when using its resources fully and efficiently.