A Survey of 25 Grocery Stores Revealed That the Average

Multiple Choice

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

A) Point estimates
B) t-statistics
C) Standard errors
D) Both the same point estimate and the same standard error
E) Both the same t-statistic and point estimate