A 90% Confidence Interval Estimate of the Population Mean $\mu$ Can Be Interpreted to Mean That:
A) If We Repeatedly

question 68

Multiple Choice

A 90% confidence interval estimate of the population mean $\mu$ can be interpreted to mean that:

• A) if we repeatedly draw samples of the same size from the same population, 90% of the values of the sample means \(\bar { x }\) will result in a confidence interval that includes the population mean \(\mu\).
• B) there is a 90% probability that the population mean \(\mu\) will lie between the lower confidence limit (LCL) and the upper confidence limit (UCL).
• C) we are 90% confident that we have selected a sample whose range of values does not contain the population mean \(\mu\).
• D) We are 90% confident that 10% the values of the sample means \(\bar { x }\) will result in a confidence interval that includes the population mean\(\mu\).

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Definitions:

Full Retirement Age

Age at which a person receives full retirement Social Security benefits.

IRA

An Individual Retirement Account, a saving tool that allows individuals to set aside money for retirement with tax advantages.

401k

A retirement savings plan that is sponsored and set up by an employer for its employees; like other retirement plans, there are strict rules as to when the money can be withdrawn without a penalty and strict contribution limits which change from year to year.

Mortality Table

A statistical table showing the probability of death for each age, used primarily by insurance companies to determine premiums.