Which of the Following Statements Best Describes the Advantages of Confidence

question 5

Multiple Choice

Which of the following statements best describes the advantages of confidence intervals over p‐values?

• A)Confidence intervals provide an estimate of the likelihood that the association occurred by chance
• B)Confidence intervals provide information about the precision of the measure of association
• C)Confidence intervals provide an estimate of statistical significance
• D)All of the above
• E)None of the above

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Definitions:

Dividends

Financial distributions to a corporation's shareholders, usually coming from the business's earnings.

Quantity Variance

A variance that is computed by taking the difference between the actual quantity of the input used and the amount of the input that should have been used for the actual level of output and multiplying the result by the standard price of the input.

Standard Quantity

The expected or planned amount of materials or inputs required for the production of a unit of product, based on efficient operations.

Actual Quantity

The real amount or volume of inputs used in the production process, as opposed to the amount budgeted or planned.