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TABLE 8-1 A Random Sample of 100 Stores from a Large Chain

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TABLE 8-1
A random sample of 100 stores from a large chain of 1,000 garden supply stores was selected to determine the average number of lawnmowers sold at an end-of-season clearance sale. The sample results indicated an average of 6 and a standard deviation of 2 lawnmowers sold. A 95% confidence interval (5.623 to 6.377) was established based on these results.
-Referring to Table 8-1, if the population had consisted of 10,000 stores, the confidence interval estimate of the mean would have been wider in range.

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Definitions:

Personal Property

Movable property that is not classified as real estate, including tangible items like cars and furniture, and intangible items such as stocks and bonds.

Conversion

The unauthorized act of taking possession and altering the property of another, thereby depriving them of its use or possession.

Punitive Damages

Damages exceeding simple compensation and awarded to punish the defendant for egregious wrongdoing, serving as a deterrent to such behavior in the future.

Willful and Wanton

Describes behavior that shows a reckless disregard for the safety or rights of others, often considered more severe than simple negligence.

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