A Survey of 100 Businesses Revealed That the Mean After-Tax

question 49

Essay

A survey of 100 businesses revealed that the mean after-tax profit was $80,000.Assume the population standard deviation is $15,000:
a.Determine the 95% confidence interval estimate of the mean after-tax profit for all businesses.
b.Explain why you can use the confidence interval formula here,even though the population is not necessarily normal.

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Definitions:

Individual Belongs

The feeling or state of being part of a group, society, or community, emphasizing the individual's connection and relationship with others.

Global Pattern

The widespread trends, behaviors, or occurrences that can be observed across various countries and cultures around the world.

Social Influences

The effects of societal norms, values, and behaviors on an individual or group, shaping their actions and decisions.

Life Crisis

A period of intense difficulty or instability in an individual's life, often prompting a reassessment of personal values and goals.