Suppose That the Amount of Time Teenagers Spend on the Internet

question 29

Short Answer

Suppose that the amount of time teenagers spend on the Internet is normally distributed, with a standard deviation of 1.5 hours. A sample of 100 teenagers is selected at random, and the sample mean is computed as 6.5 hours.
Determine the 95% confidence interval estimate of the population mean, changing the sample size to 300.

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Definitions:

Net Income

The remaining profit for a company after removing taxes and expenses from its total income.

Common Stock

Equity shares issued by a corporation, representing ownership interests and voting rights in the company.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing the owners' claim on the company's assets.

Note Payable

A documented commitment to repay a certain sum of money along with interest at an agreed-upon date in the future.