Construct a 95% Confidence Interval for the Population Mean, μ

question 85

Multiple Choice

Construct a 95% confidence interval for the population mean, μ. Assume the population has a normaldistribution. A random sample of 16 lithium batteries has a mean life of 645 hours with a standard deviation of31 hours. Round to the nearest tenth.

• A) (628.5, 661.5)
• B) (876.2, 981.5)
• C) (531.2, 612.9)
• D) (321.7, 365.8)

---

Definitions:

Commission Structure

Commission structure refers to the schedule or rate at which commissions are paid to sales employees or agents, based on their sales performance or revenue generated.

Per Share

A metric that indicates the value of a financial measure (like earnings or dividends) divided by the total number of shares outstanding.

CFA Institute Standards

Ethical and professional guidelines set forth by the CFA Institute to ensure integrity in financial analysis and investment professions.

SIPC

Securities Investor Protection Corporation, an organization that protects investors from the loss of cash and securities in case a brokerage firm goes bankrupt.