The Width of a Confidence Interval Estimate of the Population

question 152

Multiple Choice

The width of a confidence interval estimate of the population mean increases when the:

• A)level of confidence increases
• B)sample size decreases
• C)value of the population standard deviation increases
• D)All of these choices are true.

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Definitions:

Quantity

The amount or number of a material or immaterial good or service.

Average Fixed Cost

The fixed costs of production (expenses that do not change with the level of output) divided by the quantity of output produced.

Output

The total quantity of goods and services produced by an economy or a firm.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the quantity of output produced, a measure of per unit cost.