The Weight of a Product Is Measured in Pounds

question 4

Multiple Choice

The weight of a product is measured in pounds.A sample of 50 units is taken from a batch.The sample yielded = 75 lbs. ,and we know that σ² = 100 lbs.Calculate a 95 percent confidence interval for μ.

• A)[71.25,78.75]
• B)[72.23,77.77]
• C)[47.28,102.72]
• D)[72.67,77.33]

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Definitions:

Threat of Rejection

The fear or concern that one's ideas, actions, or presence will not be accepted by others.

Behavioral Economics

A field of economics that examines the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions.

Neoclassical Economic Model

An economic theory that focuses on how the equilibrium state of markets is reached through supply and demand forces, emphasizing utility maximization and profit maximization.

Behavioral Economics

A field of economics that studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.