A Random Sample of 25,000 ACT Test Takers Had an Average

question 42

Multiple Choice

A random sample of 25,000 ACT test takers had an average score of 21 with a standard deviation of 5. What is the 95% confidence interval of the population mean?

• A) 4.9723 to 5.0277
• B) 4.9380 to 5.0620
• C) 4.7397 to 5.2603
• D) 4.9432 to 5.0568

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Definitions:

Recognize Income

Recognize income refers to the point in time when income is considered earned and must be reported for tax purposes.

Tax-exempt

Income or transactions that are legally excluded from taxation.

Economic Benefit

The advantage or gain received from a financial transaction or situation, which may have tax implications or influence fiscal decisions.

Nontaxable Return of Capital

A payment received from an investment that is not taxed because it is considered a portion of the original investment's cost being returned to the investor.