Standard Errors

1. If 95% and 98% confidence intervals were developed to estimate the true cost of the microwave, what differences would they have?

Answer 

Standard errors

Interval widths

Z-variates

Both   b and c

2. The distribution of Student’s t is

Answer 

symmetrical

negatively skewed

positively skewed

a discrete probability distribution

3. The test statistic t has n – 1 degrees of freedom.

Answer 

True
False

4. A survey of 25 grocery stores revealed that the average price of a gallon of milk was $2.98 with a standard error of $0.10. If 90% and 95% confidence intervals are developed to estimate the true cost of a gallon of milk, what similarities would they have?

Answer 

Point estimates

t-statistics

Standard errors

Both   a and c

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