A Random Sample of 64 Items Is Selected from a Population

question 32

Multiple Choice

A random sample of 64 items is selected from a population of 400 items.The sample mean is 200.The population standard deviation is 48.From these data, the 95% confidence interval to estimate the population mean would be _______.

• A)189.21 to 210.79
• B)188.24 to 211.76
• C)190.13 to 209.87
• D)190.94 to 209.06
• E)193.45 to 211.09

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Definitions:

Principal-Agent Problem

At a firm, a conflict of interest that occurs when agents (workers or managers) pursue their own objectives to the detriment of the principals’ (stockholders’) goals. In public choice theory, a conflict of interest that arises when elected officials (who are the agents of the people) pursue policies that are in their own interests rather than policies that would be in the better interests of the public (the principals).

Private Sector

The private sector encompasses businesses and entities that are not owned or operated by the government, operating primarily for profit.

Political Decision Making

The process by which public policies are formulated and decided upon by individuals and groups within governmental systems.

Free-Rider Problem

A situation in which individuals benefit from resources, goods, or services without paying for the cost of the benefit, leading to underprovision of those goods or services.