The Purpose of Statistical Inference Is to Provide Information About

question 69

Multiple Choice

The purpose of statistical inference is to provide information about the

• A) sample based upon information contained in the population.
• B) population based upon information contained in the sample.
• C) population based upon information contained in the population.
• D) mean of the sample based upon the mean of the population.

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Definitions:

APC (Average Propensity to Consume)

The fraction of income that households plan to spend on goods and services; it is the ratio of total consumption to total disposable income.

Disposable Income

Refers to the amount of money that households have available for spending and saving after income taxes have been accounted for.

APS (Average Propensity to Save)

The fraction of total income that is saved by the average household.

Disposable Income

The amount of money an individual or household has to spend or save after income taxes have been deducted.