Use the Following Information to Answer the Question

question 51

Short Answer

Use the following information to answer the question. In 2007, the average number of hours spent online at home for U. S. adults with internet access was 8.9 hours with a standard deviation of 0.4 hours. The U. S average was determined by collecting cluster data from thirty randomly selected states. Assume the distribution of time spent online at home is approximately unimodal and symmetric.
-If a new report came out saying that on average, Floridian adults spent 8.0 hours online while at home, would you say this was an unusual value? If it was unusual, explain how you reached your conclusion and whether it was unusually high or low.

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Definitions:

Currency Speculators

Individuals or entities that buy and sell currencies with the aim of profiting from changes in exchange rates.

Inflation

A general increase in prices and a decrease in the purchasing value of money.

South Korean Won

The official currency of South Korea, represented by the symbol ₩ and the ISO code KRW.

Flexible Exchange Rates

A currency system where the value of a country's currency is allowed to fluctuate according to the foreign exchange market forces of demand and supply.