I If We Want to Determine Which Treatment Means Differ

question 47

Multiple Choice

i. If we want to determine which treatment means differ, one method is confidence intervals.
ii. If the confidence interval includes 0, there is a difference in the pair of treatment means.
iii. If both end points of a confidence interval are of the same sign, it indicates that the treatment
Means are not different.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (i) is a correct statement but not (ii) or (iii).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Midpoint Formula

A method used in economics to calculate the elasticity of a variable, such as demand, by averaging the initial and final values.

Price-elasticity-of-demand Coefficient

A measure that calculates the responsiveness of the quantity demanded of a good to a change in its price.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded, typically downward sloping.