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An Economist Is Interested in Studying the Incomes of Consumers

question 83

Multiple Choice

An economist is interested in studying the incomes of consumers in a particular country. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in a mean income of $15,000. What is the width of the 90% confidence interval?


Definitions:

Herbert Hoover

The 31st President of the United States (1929-1933), known for his handling of the Great Depression, his humanitarian efforts, and his engineering career.

Economy Assessment

The process of analyzing various economic indicators, trends, and data to gauge the overall health and performance of an economy.

Fear Itself

An abstract concept implying that fear, especially unfounded or irrational fear, can be as dangerous or debilitating as the object of that fear.

Fundamentals

The most basic, core, or essential aspects or principles of a subject, concept, or skill.

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