Confidence Intervals of the Population Mean May Be Created for the Cases

question 47

Multiple Choice

Confidence intervals of the population mean may be created for the cases when the population standard deviation is known or unknown. How are these two cases treated differently?

• A) Use the z table when s is unknown; use the t table when s is known.
• B) Use the z table when s is known; use the t table when s is unknown.
• C) Use the z table when σ is unknown; use the t table when σ is known.
• D) Use the z table when σ is known; use the t table when σ is unknown.

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Definitions:

International Trade

The exchange of goods, services, and capital across international borders or territories, driven by comparative advantage.

Economic Growth

An increase in the production of economic goods and services, compared from one period of time to another.

Diminishing Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

Subsistence

The minimum level of essentials (such as food and shelter) necessary for an individual to survive.