Use the Following Information to Answer the Question

question 16

Multiple Choice

Use the following information to answer the question. A sprint duathlon consists of a 5 km run, a 20 km bike ride, followed by another 5 km run. The mean finish time of all participants in a recent large duathlon was 1.67 hours with a standard deviation of 0.25 hours. Suppose a random sample of 30 participants was taken and the mean finishing time was found to be
1.59 hours with a standard deviation of 0.30 hours.
-Suppose the process of taking random samples of size 30 is repeated 200 times and a histogram of the 200 sample means is created. Would the histogram be an approximate display of the population distribution, the distribution of a sample, or the sampling distribution of means?

• A)distribution of a sample
• B)sampling distribution of means
• C)population distribution

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Definitions:

Utility Schedule

A table showing the level of satisfaction or utility that a consumer derives from different quantities of a good or service.

Marginal Utility

The increased happiness or advantage derived from the consumption of one extra piece of a good or service.

Total Utility

The full pleasure gained by using a particular volume of goods or services.

Marginal Utility

The increased enjoyment or advantage gained by a consumer from acquiring one more unit of a particular good or service.