Construct a 99% Confidence Interval for Data Sets a and B

question 80

Multiple Choice

Construct a 99% confidence interval for data sets A and B. Data sets A and B are random and dependent, and the populations are normally distributed. Round to the nearest tenth. $$\begin{array} { l | l l l l l } \text { A } & 5.8 & 6.8 & 8.7 & 5.7 & 5.8 \\\hline \text { B } & 8.2 & 7.1 & 7.0 & 6.9 & 8.3\end{array}$$

• A)(-4.5, 2.6)
• B)(-25.1, 5.8)
• C)(-21.3, 19.0)
• D)(-15.1, 15.1)

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Definitions:

Representativeness Bias

A cognitive bias where individuals incorrectly assess the probability of an event based on similarities to existing prototypes in their mind, rather than on actual evidence.

Availability Bias

A cognitive bias where individuals overestimate the importance of information that is readily available to them.

Adjustment Bias

A cognitive bias that affects the decision-making process, leading individuals to make decisions based on adjustments from a reference point.

Lack-of-participation Error

Describes a situation where the absence of employee involvement in decision-making leads to decreased morale, motivation, and potentially suboptimal outcomes.