Assume that the 95% confidence interval for the true effect of a price on amount of beef purchased is between 0.30 and 0.38. Which of the following statements is incorrect? O The estimated coefficient is 0.34. At a 5% significance level, we will reject the null hypothesis that this coefficient equals zero, against the alternative that it is different from zero. There is a 95% chance that a random sample will produce a confidence interval that includes the true coefficient. There is a 95% chance that the true coefficient is between 0.30 and 0.38.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Assume that the 95% confidence interval for the true effect of
a price on amount of beef purchased is between 0.30 and
0.38. Which of the following statements is incorrect?
O The estimated coefficient is 0.34.
At a 5% significance level, we will reject the null hypothesis that
this coefficient equals zero, against the alternative that it is
different from zero.
There is a 95% chance that a random sample will produce a
confidence interval that includes the true coefficient.
There is a 95% chance that the true coefficient is between 0.30
and 0.38.
Transcribed Image Text:Assume that the 95% confidence interval for the true effect of a price on amount of beef purchased is between 0.30 and 0.38. Which of the following statements is incorrect? O The estimated coefficient is 0.34. At a 5% significance level, we will reject the null hypothesis that this coefficient equals zero, against the alternative that it is different from zero. There is a 95% chance that a random sample will produce a confidence interval that includes the true coefficient. There is a 95% chance that the true coefficient is between 0.30 and 0.38.
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