The elasticity of demand for gasoline has been estimated to be 2.0, and the standard error is 1.0. The upper and lower bounds on the 95 percent confidence interval for the elasticity of demand for gasoline are:
A) 3 and 2.
B) 2 and 1.
C) 3 and 1.
D) None of the statements is correct.

Question

Quizplus · Accepted Answer

The Answer of The elasticity of demand for gasoline has been estimated to be 2.0, and the standard error is 1.0. The upper and lower bounds on the 95 percent confidence interval for the elasticity of demand for gasoline are:
A) 3 and 2.
B) 2 and 1.
C) 3 and 1.
D) None of the statements is correct.

The Elasticity of Demand for Gasoline Has Been Estimated to Be