A survey of 144 retail stores revealed that the average price of a DVD was $375 with a standard error of $20. If 90% and 95% confidence intervals were developed to estimate the true cost of the DVD, what similarities would they have?
A) Point estimates
B) Z-values would be the same
C) Standard errors
D) Both point estimates and standard errors would be the same
E) Both standard errors Z-values would be the same

Question

Quizplus · Accepted Answer

Both the 90% and 95% confidence intervals would use the same point estimate (the average price of $375) and the same standard error ($20) in their calculations. The Z-values (which determine the width of the confidence interval) would differ between the two confidence levels.

A Survey of 144 Retail Stores Revealed That the Average