Suppose You Have a Random Sample of 21 Credit Scores $\left( \frac { 70 } { \sqrt { 21 } } \right)$

question 9

Multiple Choice

Suppose you have a random sample of 21 credit scores from a population of mortgage applicants with a sample mean of 620 and sample standard deviation of 70, and would like to calculate the 99 percent confidence interval of the population mean credit score. Which of the following would be the correct construction?

• A) 620 ± 2.58 \(\left( \frac { 70 } { \sqrt { 21 } } \right)\)
• B) 620 ± 4 \(\left( \frac { 70 } { \sqrt { 21 } } \right)\) , because 4 is the t-distribution critical value.
• C) 620 ± 4 (70), because 4 is the t-distribution critical value.
• D) None of these choices are correct.

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Definitions:

Strategic Contingencies

Critical factors affecting organizational effectiveness that are controlled by a key subunit.

Organizational Effectiveness

The degree to which an organization achieves its goals and objectives efficiently and effectively.

Subunit Power

The degree of power held by various organizational subunits, such as departments.

Contracted Out

The process of hiring external organizations or individuals to perform services or tasks rather than using in-house resources.