TABLE 7-7 Times Spent Studying by Students in the Week Before Final

question 10

Short Answer

TABLE 7-7
Times spent studying by students in the week before final exams follow a normal distribution with standard deviation 8 hours.A random sample of 4 students was taken from a population of 50 in order to estimate the mean study time for the population of all students.Use the finite population correction.
-Referring to Table 7-7,what is the probability that the sample mean differs from the population mean by less than 2 hours?

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Definitions:

Bonds Payable

A long-term debt instrument issued by a corporation or government, representing a promise to pay a specified sum of money at a future date along with periodic interest payments.

Common Stock

A type of security representing ownership in a corporation, with holders having a claim on a portion of the company's assets and earnings.

Noncash Investing

Investing activities that do not involve cash transactions, often involving the trade of assets or issuance of equity or debt.

Net Cash Flows

The difference between a company's cash inflows and outflows in a given period.