Which Is True About a 95% Confidence Interval Based on a Given

question 564

Multiple Choice

Which is true about a 95% confidence interval based on a given sample?
I. The interval contains 95% of the population.
II. Results from 95% of all samples will lie in the interval.
III. The interval is narrower than a 98% confidence interval would be.

• A) none of these
• B) III only
• C) II only
• D) I only
• E) II and III only

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Equilibrium Price

The market price at which the supply of an item matches its demand, leading to a stable market where there is no surplus or shortage.

Adam Smith

An 18th-century Scottish economist and philosopher, often considered the father of modern economics, best known for his work "The Wealth of Nations" which promotes the idea of free markets and the invisible hand guiding economic activity.

Public Interest

The welfare or well-being of the general public; often used to justify government actions or policies intended to protect or benefit the population as a whole.