There Are Two Types of Contingent Valuation Estimates That Are

question 14

Multiple Choice

There are two types of contingent valuation estimates that are practiced:

• A) valuing environmental amenities and valuing health outcomes.
• B) valuing protective regulation and valuing protective sanctions.
• C) valuing time preferences and estimating risk aversion.
• D) identifying respondent groups and estimating sampling procedures.

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Definitions:

Mean

The mean, often referred to as the average, is a statistic that represents the central or typical value in a set of data, calculated by dividing the sum of all values by the number of values.

Population Standard Error

A measure that estimates the variability of sample means around the population mean if multiple samples were taken from the population.

Confidence Interval

A band of values, yielded by analyzing sample data, which has a good chance of capturing the value of an unknown population variable.

Mean

The average value obtained by dividing the sum of all values in a set by the number of values.