Examlex

Solved

The Confidence Interval for the Mean of Y Is Always

question 202

True/False

The confidence interval for the mean of Y is always narrower than the prediction interval for an individual response Y given the same data set,X value,and confidence level.


Definitions:

APC

Average Propensity to Consume, indicating the percentage of income that an individual or average consumer spends rather than saves.

Disposable Income

The total amount of money available for an individual or household to spend or save after taxes have been deducted.

Consumption

The use of goods and services by households, constituting one of the major components of GDP.

APC

Average Propensity to Consume, which is the fraction of income that is consumed rather than saved.

Related Questions