THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 9

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
For calculating a 95% confidence interval for μ₁ - μ₂ the difference between the means of two normally distributed populations,the summary statistics from two independent samples are:
n_x = 60,
= 180,
= 360,n_y = 45,
= 160,and
= 900.
It is assumed that the Population variances are unknown and are equal.
-What is the upper confidence limit of the 95% confidence interval?

• A)29.505
• B)30.172
• C)10.006
• D)22.797

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good demanded by consumers.

Perfectly Inelastic

A market condition where the quantity demanded or supplied does not change regardless of a price change.

Midpoint Method

A technique used to calculate the percentage change between two values, offering a more precise method than simple percentage calculations.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, often used to understand the sensitivity of demand in relation to price changes.