A Major Retail Clothing Store Is Interested in Estimating the Difference

question 10

Multiple Choice

A major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use the store's in-house credit card versus using a Visa,Mastercard,or one of the other major credit cards.To do this,it has randomly selected a sample of customers who have made one or more purchases with each of the types of credit cards.The following represents the results of the sampling: Given this information,which of the following statements is true?

• A)If either of the sample sizes is increased,the resulting confidence interval will have a smaller margin of error.
• B)If the confidence level were changed from 95 percent to 90 percent,the margin of error in the estimate would be reduced.
• C)Neither A nor B are true.
• D)Both A and B are true.

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Definitions:

Reification

The conceptual process by which abstract concepts, ideas, or social constructs are made tangible or treated as real and concrete entities.

Economic Exchanges

Economic exchanges are transactions involving the transfer of goods, services, or resources between parties, usually in a market context.

Historical Materialism

A theoretical framework in the social sciences, originated by Karl Marx, that focuses on the material economic conditions shaping society and history.

Economic Relations

Pertains to the ways in which economic forces, such as production, distribution, and consumption of goods and services, influence social structures and individual interactions.