The Head Librarian at the Library of Congress Has Asked

question 184

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,approximately how large a sample did her assistant use to determine the interval estimate?

• A)2
• B)3
• C)12
• D)It cannot be determined from the information given.

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Definitions:

Bond Interest Expense

The cost incurred by an issuer of bonds as a result of interest payments made to bondholders over the life of the bond.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, resulting in a profit or loss.

Par

The face value of a bond or stock, representing the amount the issuer agrees to pay at maturity (for bonds) or the value attributed to a share for accounting purposes.

Market Rate

The prevailing interest rate that is available in the marketplace for loans or investments of a similar risk level and maturity.