If Excel Estimated the 95 Percent Confidence Interval for a Slope

question 3

Multiple Choice

If Excel estimated the 95 percent confidence interval for a slope coefficient for the price to run from - 25.50 to - 22.30, 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 that lies between 22.30 and 25.50.
• B)You are 95 percent confident that in response to dollar increase in price, consumers will decrease the quantity demanded by an amount greater than 25.50.
• C)You are 95 percent confident that in response to dollar increase in price, consumers will decrease the quantity demanded by an amount greater than 22..30.
• D)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 22.30 and 25.50.

---

Definitions:

Simple Statement

A clear and straightforward declaration or expression, often consisting of only one clause.

Natural Language

Human languages, including both spoken and written forms, capable of expressing an infinite variety of ideas and emotions.

Logic of Declarative Statements

The formal principles governing the truth or falsehood of statements that declare facts.

Conditional

A grammatically correct construction used to assert that if an antecedent statement is true, then a consequent statement is true.