The Manager of a Grocery Store Has Taken a Random

question 85

Multiple Choice

The manager of a grocery store has taken a random sample of 144 customers. The average length of time it took these 144 customers to check out was 3 minutes. It is known that the standard deviation of the population of checkout times is 1 minute. The 95% confidence interval for the true average checkout time (in minutes) is

• A) 2.863 to 3.137.
• B) 1.36 to 4.64.
• C) 1 to 5.
• D) 2.837 to 3.163.

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Definitions:

Liabilities

Economic obligations or debts that a business owes to others, such as loans, accounts payable, and mortgages.

Increase

A rise in value or quantity, often observed in financial metrics, operational metrics, or physical measurements.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, indicative of the shareholders' ownership interest.

Creditors

Individuals or institutions to whom money is owed by a debtor for goods, services, or loans provided.