Which of the Following Is an Example of an Intermediate

question 40

Multiple Choice

Which of the following is an example of an intermediate good?

• A)a new boat purchased by your brother for vacation purposes
• B)purchase of lumber by a property developer to be used in building a new house
• C)payments to military personnel
• D)a professor's salary

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Definitions:

Margin of Error

An indicator of the precision of an estimate in statistics, showing the range within which the true value is expected to lie with a certain level of confidence.

Confidence Interval

A range of values that is used to estimate the true value of a population parameter with a certain level of confidence.

Standard Deviation

An index used to assess the extent of variation or scatter among data points.

Sample Size

The number of observations or individuals in a subset collected from a population for the purposes of statistical analysis.