If the Lower and Upper Confidence Limits of the Population $\mu$

question 131

Multiple Choice

If the lower and upper confidence limits of the population mean $\mu$ ,using a sample of size 100,are 225 and 280,respectively,then the lower and upper confidence limits of the total of a population of size 3000 are respectively

• A) 652,500 and 812,000
• B) 675,000 and 840,000
• C) 697,500 and 868,000
• D) 652,862 and 812,452

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Definitions:

Commodity Bundle

A specific collection of goods or services that is considered as a single unit for analytical purposes in microeconomics.

Convex Preferences

A characteristic of consumers' preferences indicating that they prefer mixes or combinations of goods over extreme amounts of either one, depicted by a convex shape in utility analysis.

Indifferent

Having no particular interest or sympathy; being unconcerned or neutral towards a specific outcome or item.

Transitive Preferences

A principle in which if an individual prefers option A over B, and B over C, then they also prefer A over C.