A Population Has a Mean of 80 and a Standard

question 118

Multiple Choice

A population has a mean of 80 and a standard deviation of 7. A sample of 49 observations will be taken. The probability that the sample mean will be larger than 82 is

• A)0.5228
• B)0.9772
• C)0.4772
• D)0.0228

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Definitions:

Value-Added Tax (VAT)

A tax on the amount by which the value of an article has been increased at each stage of its production or distribution.

Income Tax

A government levy on individuals' or corporations' earnings.

Marginal Tax Rate

The rate of tax applied to the last dollar of income, indicating how much of any additional income will be taken as tax.

Lump-Sum Tax

A tax that is a set amount, no matter the taxpayer's income level or economic activity.