Independent Samples from Two Different Populations Yield the Following Data $\bar { x } 1 = 677 , \bar { x } 2 = 211$

question 88

Multiple Choice

Independent samples from two different populations yield the following data. $\bar { x } 1 = 677 , \bar { x } 2 = 211$ , $\mathrm { s } _ { 1 } = 30 , \mathrm {~s} _ { 2 } = 30$ . The sample size is 245 for both samples. Find the $80 \%$ confidence interval for $\mu _ { 1 } - \mu _ { 2 }$

• A) \(460 < \mu _ { 1 } - \mu _ { 2 } < 472\)
• B) \(466 < \mu _ { 1 } - \mu _ { 2 } < 466\)
• C) \(463 < \mu _ { 1 } - \mu _ { 2 } < 469\)
• D) \(462 < \mu _ { 1 } - \mu _ { 2 } < 470\)

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Definitions:

Endowment

The initial allocation of goods, services, or wealth that an individual or entity possesses before entering any trade or transaction.

Budget Line

A graphical representation showing the combination of two goods that a consumer can afford given their income and the prices of the goods.

Going Prices

Going prices refer to the current rates or charges for goods and services in a market.

Utility Function

A mathematical representation of how different quantities of goods or services can provide varying levels of satisfaction or utility to an individual.