The Head Librarian at the Library of Congress Has Asked

question 186

Multiple Choice

The head librarian at the Library of Congress has asked her assistant for an interval estimate of the mean number of books checked out each day.The assistant provides the following interval estimate: from 740 to 920 books per day.If the head librarian knows that the population standard deviation is 150 books checked out per day,and she asked her assistant to use 25 days of data to construct the interval estimate,what confidence level can she attach to the interval estimate?

• A)99.7%
• B)99.0%
• C)98.0%
• D)95.4%

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Definitions:

Softening Economy

A term used to describe an economic state where growth is slowing down, signaling a potential downturn or lesser economic activity.

Government Spending Multiplier

A coefficient that measures the change in total income resulting from a unit change in government spending.

Fiscal Policy

Government policies regarding taxation and spending that are aimed at influencing a country's economic conditions.

Supply-Side Effect

Economic effects that result from changes in production capacity and costs, influencing the aggregate supply in the economy.