Assume That the Following Confidence Interval for the Difference in the Mean

question 170

Multiple Choice

Assume that the following confidence interval for the difference in the mean time (in minutes) for male students to complete a statistics test (sample 1) and the mean time for female students to complete a statistics test (sample2) was constructed using independent simple random samples. $- 0.2 \text { minutes } < \mu _ { 1 } - \mu _ { 2 } < 2.7 \text { minutes }$ What does
The confidence interval suggest about the difference in length between male and female test completion times?

• A) Male students take longer to complete a statistics test.
• B) Female students take longer to complete a statistics test.
• C) There is no difference in the length of time for statistics test completion between male and female students.

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Definitions:

Laissez-Faire

The philosophy that the private economy should function without any government interference.

Classical Theory

An economic theory proposing that free markets can regulate themselves through the relationship of supply and demand without government intervention.

Interest Rate

The percentage charged on a sum of money borrowed or earned on a sum of money invested, typically expressed as an annual percentage rate.

Saving

The portion of income not spent on current consumption but set aside for future use, often put into investments or deposit accounts.