A Random Sample of 95 Students at a Local University

question 70

Short Answer

A random sample of 95 students at a local university showed that they work an average of 48 hours per month with a standard deviation of 12 hours.Compute a 95% confidence interval for the mean of the population.

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Definitions:

Sharpe Ratio

A measure used to evaluate the risk-adjusted return of an investment portfolio.

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean and is calculated as the square root of the variance.

Inflation

A general increase in prices and fall in the purchasing value of money over time.

Taxes

Mandatory financial charges or levies imposed by governments on individuals or entities to fund government spending and various public expenditures.