An Environmental Group at a Local College Is Conducting Independent

question 84

Multiple Choice

An environmental group at a local college is conducting independent tests to determine the distance a particular make of automobile will travel while consuming only 1 gallon of gas. They test a sample of five cars and obtain a mean of 28.2 miles. Assuming that the population standard deviation is 2.7 miles, find the 95 percent confidence interval for the mean distance traveled by all such cars using 1 gallon of gas.

• A) [26.16, 30.24]
• B) [20.70, 35.70]
• C) [24.85, 31.55]
• D) [26.70, 29.70]
• E) [25.83, 30.57]

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Definitions:

Total Revenue

The overall income generated by a firm or entity from its sales or services before any costs or expenses are subtracted.

Price-elasticity Coefficient

A numerical measurement of the responsiveness of the quantity demanded or supplied of a product to a change in its price.

Sales Quantity

The cumulative amount of a product or service's units that are purchased over a specified time frame.

Price Increase

A rise in the cost of goods or services.