Use the Table Below to Answer the Following Questions) -Calculate the ??_?/2 Value at a 95% Confidence Interval

question 12

Multiple Choice

Use the table below to answer the following questions) .
The historical data of Velvetta Inc., a healthcare products manufacturer, have shown that in a production process for filling bottles of shampoo, variance in the volume is constant; however, clogs in the filling machine often affect the mean volume. The historical standard deviation is 5 milliliters. In filling 250-milliliter bottles, a sample of 20 found a mean volume of 242 milliliters. $$\begin{array}{l}\begin{array} { | l | l | } \hline\text { Velvetta Inc. Shampon }\\ \text { Productim } & \\\hline \text { Alpha Vulue } & 0.05 \\\hline \text { Standard Deviation } & 5 \\\hline \text { Sample Size } & 20 \\\hline \text { Sample Mean } & 242 \\\hline\end{array}\end{array}$$
-Calculate the ??_?/2 value at a 95% confidence interval.

• A) 1.64
• B) 1.84
• C) 1.96
• D) 2.19

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Definitions:

Taxpayers' Burden

The financial obligations imposed on taxpayers, such as taxes and public debt, required to fund government operations and obligations.

Parity Ratio

A ratio that compares the prices of a set of goods in one area or country to the prices of the same goods in another to measure purchasing power or competitiveness.

Parity Ratio

An index or ratio comparing the level of one economic indicator to another, generally used in agriculture to compare prices.

Base Period

A specific time period used as a benchmark for comparing economic or financial data, such as in calculating inflation rates or index numbers.