What Is T_α/2,df for a 95% Confidence Interval of the Population

question 85

Multiple Choice

What is t_α/2,df for a 95% confidence interval of the population mean based on a sample of 15 observations?

• A) 1.761
• B) 1.960
• C) 2.131
• D) 2.145

Identify and construct payoff and opportunity loss tables.

Calculate optimum decisions using EMV and EOL criteria.

Interpret the significance of negative values in opportunity loss tables.

Recognize incentive programs and worker safety laws as external factors (states of nature) affecting business decisions.

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