Use the Following to Answer Questions

question 58

Short Answer

Use the following to answer questions :
A random sample of 25 elements selected from a population produced a variance equal to 3.937.Assume that the population is normally distributed.
-Based on this sample,the 95% confidence interval for the population standard deviation,rounded to three decimal places,is:

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Definitions:

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Normal Rate

The normal rate often refers to a baseline or average level of interest or return expected on an investment or loan in economics and finance.

Cost Per Bushel

The expenditure involved in producing or acquiring one bushel of a commodity, such as grain.

Corn Producer

An entity or individual that engages in the cultivation and production of corn for various purposes, including food, feed, and industrial uses.