THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 51

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A dependent random sample from two normally distributed populations gives the following results:
n = 20,
= 26.5,s₂ = 3.2
-Calculate the margin of error for the given data assuming 95% confidence level: n_x = 250
_x = 0.65 n_y = 360
_y = 0.78

• A)0.085
• B)1.05
• C)0.052
• D)0.072

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Definitions:

Prisoners' Dilemma

A scenario in game theory where two individuals act in their own self-interest but would have been better off cooperating.

Collusive Outcome

A situation in which firms in a market or industry agree to set prices or output levels cooperatively, often leading to higher prices for consumers.

Maximin Strategy

A decision rule used in situations of uncertainty to maximize the minimum gain that can be secured.

Equilibrium

A state where market supply and demand balance each other, and, as a result, prices become stable.