The Link Between the Variance Of $\bar { Y }$ And the Probability That

question 38

Multiple Choice

The link between the variance of $\bar { Y }$ and the probability that $\bar { Y }$ is within (± ? of ${ } ^ { \mu } \gamma$ is provided by

• A)Slutsky's theorem.
• B)the Central Limit Theorem.
• C)the Law of Large Numbers.
• D)Chebychev's inequality.

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Definitions:

Hourly Wages

Hourly wages are payments made to workers based on the number of hours worked, typically quoted as an amount of money per hour.

Margin Of Error

The ± value added to and subtracted from a point estimate in order to develop an interval estimate of a population parameter.

Confidence

The degree to which one can feel assured or certain about an inference or prediction, often expressed as a percentage.

Null Hypothesis

A default hypothesis that there is no effect or no difference, and it is subjected to a test to determine the likelihood of its accuracy.