A Random Sample of Size 25 Was Selected from a Population

question 2

Multiple Choice

A random sample of size 25 was selected from a population and from that sample the value of a statistic,which we will label ,was determined to be = 6.250.Using the bootstrap method,5000 resamples were obtained from the sample observations.The histogram of the values of the statistic from these 5000 resamples looked reasonably Normal.The 5000 's had a mean of 6.234 and standard deviation of 1.493.An approximate 95% confidence interval for the parameter that corresponds to is given by

• A)6.234 ± 2.064(0.299).
• B)6.234 ± 2.064(1.493).
• C)6.250 ± 2.064(1.493).
• D)6.250 ± 2.064(0.299).
• E)6.250 ± 1.960(1.493).

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Definitions:

Production Possibilities Curve

A graphical representation showing the maximum combination of goods or services that can be produced in a given period with available resources.

Resources Efficiency

The optimal use and management of resources to maximize their potential and minimize waste or inefficiency, aiming for sustainable and effective utilization.

Production Possibilities

Refers to the various combinations of goods and services an economy can produce, given its available resources and technology.

Capital Goods

Durable goods that are used in the production of other goods or services, such as machinery and equipment.