A Large Increase in the Price of Oil Over a Short

question 13

Multiple Choice

A large increase in the price of oil over a short period of time is known as:

• A) oil disaster
• B) oil surprise
• C) oil collapse
• D) oil shock
• E) none of the above

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Definitions:

T-Distribution

A type of probability distribution that is symmetric and bell-shaped, used in statistics for small sample sizes when the population variance is unknown.

Confidence Interval

A scope of values, derived through sample statistical methods, seen as likely to include the value of an unascertained population parameter.

Population Mean

The average of a set of numerical values obtained from every member of a population.

Robust Estimator

A statistical method or measure that is not unduly affected by outliers or deviations from assumptions in the underlying data distribution.