If Excel Estimated the 95 Percent Confidence Interval for a Slope

question 50

Multiple Choice

If Excel estimated the 95 percent confidence interval for a slope coefficient for the price to run from - 15.50 to - 12.30, which of the following is true?

• A)You are 95 percent confident that in response to dollar increase in price, consumers will decrease the quantity demanded by an amount greater than 12.30.
• B)You are 95 percent confident that in response to dollar increase in price, consumers will increase the quantity demanded by an amount that lies between 12.30 and 15.50.
• C)You are 95 percent confident that in response to dollar increase in price, consumers will decrease the quantity demanded by an amount that lies between 12.30 and 15.50.
• D)You are 95 percent confident that in response to dollar increase in price, consumers will decrease the quantity demanded by an amount less than 15.50.

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Definitions:

IQ

A measure of a person's intelligence as indicated by an intelligence test, expressed as a score relative to a statistically normal curve.

WAIS

The Wechsler Adult Intelligence Scale, a commonly used test for assessing adult intelligence.

Verbal

Pertaining to the use of words and language for communication.

Performance

The act of carrying out a task or function, often evaluated in terms of effectiveness, efficiency, or quality.