In Order to Estimate the Average Time Spent Per Student

question 66

Multiple Choice

In order to estimate the average time spent per student on the computer terminals at a local university, data were collected for a sample of 81 business students over a one-week period.Assume the population standard deviation is 1.8 hours.The standard error of the mean is

• A) 7.50.
• B) .39.
• C) 2.00.
• D) .20.

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Definitions:

Unemployment Level

The proportion of the workforce that is not currently employed but actively seeking employment.

Interest Rate

is the cost of borrowing money or the return for investing, usually expressed as a percentage of the principal over a one-year period.

Consumption Function

An economic formula representing the relationship between total consumption and gross national income, positing that consumption patterns are directly related to income levels.

Price Level

A measure of the average prices of goods and services throughout the economy, indicating the cost of living or inflation rate.