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Two Hundred Students Are Enrolled in an Economics Class

question 95

Essay

Two hundred students are enrolled in an Economics class. After the first examination, a random sample of 6 papers was selected. The grades were 65, 75, 89, 71, 70 and 80.
a.Determine the standard error of the mean.
b.What assumption must be made before we can determine an interval for the mean grade of all the students in the class? Explain why.
c.Assume the assumption of Part b is met. Provide a 95% confidence interval for the mean grade of all the students in the class.

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Definitions:

Iceland

An island country in the North Atlantic, known for its dramatic landscape of volcanoes, geysers, hot springs, and lava fields.

Export Goods

products or services that are produced domestically but sold to buyers in other countries.

Acquire Dollars

The process of obtaining U.S. currency, which can involve exchanging foreign money, earning it, or investing.

Living Standards

A measure of the wealth, comfort, material goods, and necessities available to a person, group, or society.

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