Construct and Interpret Confidence Intervals Regarding the Difference of Two $95 \%$

question 79

Multiple Choice

Construct and Interpret Confidence Intervals Regarding the Difference of Two Independent Means
-Construct a $95 \%$ confidence interval for $\mu _ { 1 } - \mu _ { 2 }$ . Two samples are randomly selected from normal populations.
The sample statistics are given below.
$\begin{array} { l l } \mathrm { n } _ { 1 } = 10 & \mathrm { n } _ { 2 } = 12 \\ \overline { \mathrm { x } } 1 = 25 & \overline { \mathrm { x } } 2 = 23 \\ \mathrm {~s} _ { 1 } = 1.5 & \mathrm {~s} _ { 2 } = 1.9 \end{array}$

• A) \(( 0.360,3.640 )\)
• B) \(( 1.335,3.012 )\)
• C) \(( 1.413,3.124 )\)
• D) \(( 1.554,3.651 )\)

Identify the role of cross-price elasticity in determining the relationship between goods.

Grasp the economic principles underlying pricing strategies in competitive markets.

Understand the concept of diminishing returns and its effect on marginal and average product.

Describe the relationship between marginal cost and average cost, and their implications for cost behavior.

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