Suppose You Are Working as a Tutor Charging $85 Per

question 60

Multiple Choice

Suppose you are working as a tutor charging $85 per hour. If your fee increases from $85 to $93 per hour, using the midpoint method, what is the percentage change in price?

• A) 8.99 per cent
• B) 9.12 per cent
• C) 9.41 per cent
• D) 8.00 per cent
• E) 8.62 per cent

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Definitions:

Normal Distribution

A bell-shaped curve where a large number of data points are symmetrically distributed around the mean, with fewer and fewer observations the further away from the mean.

Point Estimate

A single value or statistic that serves as the best guess or most reasonable approximation of a population parameter.

True Population Mean

The average value of a characteristic within an entire population, often unknown and estimated through samples.

Off-Campus

Pertaining to activities, housing, or locations that are not situated within the main area or boundaries of a university or college.