A Random Sample of 30 Executives from Companies with Assets $\pm$

question 18

Multiple Choice

A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of education. The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The Mean Square Error (MSE) was 243.7. The following table summarized the results:
When comparing the mean annual incomes for executives with Undergraduate and Master's Degree or more, the following 95% confidence interval can be constructed:

• A) 2.0 \(\pm\) 2.052 * 6.52
• B) 2.0 \(\pm\) 3.182 * 6.51
• C) 2.0 \(\pm\) 2.052 * 42.46

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Definitions:

Quantity Equation

An equation that relates the quantity of money in an economy to the nominal value of economic output.

Price Level

A measure of the average prices of goods and services in an economy at a specific time, indicating the cost of living or inflation.

Classical Dichotomy

The theoretical separation of nominal and real variables in classical economics, implying that monetary changes do not affect real economic variables.

Quantity Theory

A theory in economics that asserts the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply.