The Coffee and Soup Machine at the Local Subway Station

question 21

Multiple Choice

The coffee and soup machine at the local subway station is supposed to fill cups with 6 ounces of soup. Ten cups of soup are bought with results of a mean of 5.93 ounces and a standard deviation of .13 ounces. How large a sample of soups would we need to be 95 percent confident that the sample mean is within .03 ounces of the population mean?

• A) 97
• B) 96
• C) 73
• D) 62
• E) 10

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Definitions:

Market Value

The rate at which a service or asset is presently traded in the market.

Call Premium

Amount by which the call price exceeds the par value of the bond.

Par

This term typically refers to a financial instrument's nominal or face value, as opposed to its market value or price.

Negative Covenant

A clause in a contract that prohibits a borrower from taking certain actions, intended to protect the interests of the lender by maintaining the borrower's financial stability.