Which of the Following Is True About a 95% Confidence

question 3

Multiple Choice

Which of the following is true about a 95% confidence interval of the mean:

• A)95 out of 100 confidence intervals will contain the population mean.
• B)95 out of 100 sample means will fall within the limits of the confidence interval.
• C)95% of population means will fall within the limits of the confidence interval.
• D)There is a 0.05 probability that the population mean falls within the limits of the confidence interval.

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Definitions:

Expected Monetary Value

This calculates the predicted value of a financial decision by weighing possible outcomes by their probabilities and summing the results.

Additional Information

Data or details provided that supplement the main information, offering more context or depth.

Prior Probabilities

The probabilities assigned to events or hypotheses before any empirical data is taken into account.

Posterior Probabilities

Probabilities that are updated after considering new evidence, often used in Bayesian statistics.