In Developing a 90% Confidence Interval for the Average Value

question 85

True/False

In developing a 90% confidence interval for the average value of y from a simple linear regression problem involving 12 observations, the appropriate table value would be 1.796.

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Definitions:

Simple Random Sample

A sample in which each member of the population has an equal chance of being selected, ensuring that the sample accurately reflects the population from which it is drawn.

Probability

The quantification of the probability of an event happening, represented by a numerical value ranging from 0 to 1.

Central Limit Theorem

A statistical theory stating that the distribution of sample means approximates a normal distribution as the sample size becomes sufficiently large.

Sample Mean

The average of a sample set of numbers, calculated by adding up all the numbers and dividing by the count of numbers in the set.