Use the Following Information to Answer the Question

question 44

Multiple Choice

Use the following information to answer the question. Suppose the manager of a large furniture store wants to estimate the amount spent by customers during the holiday season. She took a random sample of customers and recorded the amount they spent. A histogram of the data shows that the data is strongly left- skewed. The figures below show the confidence intervals for the mean amount spent using (A) raw (untransformed) data, and (B) log- transformed data, which showed a more normally distributed data set. Use this information to answer the question.

-Choose the statement that explains which confidence interval more precisely depicts the data and why.

• A)The confidence interval for the untransformed data is more precise because the values are in actual dollars which is more meaningful.
• B)The confidence interval for the geometric mean is more precise because the distribution of the log- transformed data is more symmetric.
• C)The confidence interval for the untransformed data is more precise because it is strongly left- skewed and the confidence interval gives a wider interval.
• D)None of these.

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Definitions:

National Governments

The political authorities that govern a nation, responsible for creating laws, policies, and managing the country's affairs.

International Tourists

Individuals who travel to a country other than their own for leisure, business, or other purposes, not including permanent relocation.

World Population

The total number of humans currently living on Earth, which has been steadily increasing over decades.

Neoliberal Globalization

Neoliberal globalization refers to the worldwide economic integration driven by liberal policies that favor free-market capitalism, reducing trade barriers and encouraging international investment and growth.