An Economist Is Interested in Studying the Incomes of Consumers

question 36

Multiple Choice

An economist is interested in studying the incomes of consumers in a country.The population standard deviation is known to be $1,000.A random sample of 50 individuals resulted in a mean income of $15,000.What is the upper end in a 99% confidence interval for the average income?

• A)$15,052
• B)$15,141
• C)$15,330
• D)$15,364

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Definitions:

Mental Health Professional

A healthcare practitioner who offers services for the purpose of improving an individual's mental health or to treat mental disorders.

Psychodynamic Therapy

A therapeutic approach emphasizing unconscious processes and past experiences affecting current behavior, derived from Freudian psychology.

Lithium Treatment

The use of lithium, a mood stabilizer medication, in the management of mood disorders, especially bipolar disorder, to reduce the frequency and severity of manic and depressive episodes.

Psychotherapy Component

An element within psychotherapy, such as cognitive-behavioral techniques or psychodynamic insights, used during treatment.