TABLE 9-3 An Appliance Manufacturer Claims to Have Developed a Compact Microwave

question 171

Multiple Choice

TABLE 9-3
An appliance manufacturer claims to have developed a compact microwave oven that consumes an average of no more than 250 W. From previous studies, it is believed that power consumption for microwave ovens is normally distributed with a standard deviation of 15 W. A consumer group has decided to try to discover if the claim appears true. They take a sample of 20 microwave ovens and find that they consume an average of 257.3 W.
-Referring to Table 9-3, the population of interest is

• A) the mean power consumption in the 20 microwave ovens.
• B) the power consumption in the 20 microwave ovens.
• C) the mean power consumption in all such microwave ovens.
• D) the power consumption in all such microwave ovens.

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Definitions:

Industrial Regulation

Government policies and rules governing the operations of specific industries to ensure fair competition, consumer protection, and to prevent monopolies.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different customers.

Antitrust Legislation

Laws aimed at promoting competition and preventing monopolies by regulating corporate behaviors that limit market competition.

Celler-Kefauver Act

A U.S. law aimed at limiting anticompetitive mergers and acquisitions by restricting asset purchases and inter-corporate stock purchases.