In a Research Study the Estimate of Variable X Is

question 31

Multiple Choice

In a research study the estimate of variable X is found to be 12.8, with a confidence interval of 10.8 and 14.8. A second estimate of variable X, using a different sample, was 14.2, with a confidence interval of 11.2 and 17.2. What can we say about the difference in the two estimates, if both had valid p values? Choose the best answer.

• A) Difference is not significant.
• B) Difference is statistically significant.
• C) Any difference cannot be determined.
• D) There is minimal difference.

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Definitions:

Reduced Prices

The offering of goods and services at lower rates than originally marked, often to clear inventory or boost sales.

Competition

The economic rivalry among businesses to attract customers, increase sales, and achieve a higher market share.

Natural Monopoly

A type of monopoly that occurs when a single firm can supply the entire market at a lower cost than any potential competitors, often due to high fixed costs.

Fair Return

A reasonable profit that companies aim for, which covers costs and provides a sustainable margin without being excessive.