What does the theory tell us about the sample average X¯ and how it is related to µ? A. It is practically identical to µ. B. It is a random variable with expected value µ and standard error σ/√ N. C....

What does the theory tell us about the sample average X¯ and how it is related to µ?

A. It is practically identical to µ.

B. It is a random variable with expected value µ and standard error σ/√ N.

C. It is a random variable with expected value µ and standard error σ.

D. Contains no information.

Now run a Monte Carlo simulation in which you compute 10,000 confidence intervals as you have just done. What proportion of these intervals include µ?