From 1973 to 1995 the Growth Rate of Labor Productivity

question 36

Multiple Choice

From 1973 to 1995 the growth rate of labor productivity in the U.S.was approximately

• A)−0.8%.
• B)1.4%.
• C)2.9%.
• D)5.1%.

---

Definitions:

Interval Estimate

An interval estimate is a range of values derived from sample statistics that is likely to contain the value of an unknown population parameter.

Population Parameter

A numerical value summarizing the entire population that can often be estimated by a statistic derived from a sample.

Margin of Error

The maximum expected difference between the true population parameter and a sample estimate of that parameter.

Estimator's Squared Bias

The squared difference between an estimator's expected value and the true value of the parameter being estimated.