A Sample of Size 42 Will Be Drawn from a Population

question 36

Multiple Choice

A sample of size 42 will be drawn from a population with mean 34 and standard deviation 8. Find the probability that $\bar { x }$ will be greater than 36 .

• A) 0.0526
• B) 0.9474
• C) 0.0749
• D) 0.0351

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Definitions:

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, often denoted by alpha (α).

Normally Distributed

Describes a continuous variable whose probabilities are symmetrically distributed around the mean, forming a bell-shaped curve known as the normal distribution.

Duration

A measure of the sensitivity of the price of a bond or other debt instrument to changes in interest rates.

Unbiased Estimator

A statistic that accurately estimates the true parameter of a population, meaning its expected value equals the parameter being estimated.