The 99% Confidence Interval Estimate for a Population Variance When

question 50

Multiple Choice

The 99% confidence interval estimate for a population variance when a sample standard deviation of 12 is obtained from a sample of 10 items is

• A)4.58 to 62.25
• B)46.53 to 422.17
• C)54.94 to 747.01
• D)62.04 to 562.89

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Definitions:

Price Floor

A government-imposed limit on how low a price can be charged, usually above the equilibrium price, which can prevent the market from clearing.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or resource, usually intended to protect consumers from prices deemed excessively high.

External Benefits

Benefits derived from a product or service that affect parties who did not choose to incur that benefit.

Efficient Level

The optimal point of operation where resources are used in such a way that maximizes productivity and minimizes waste.