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)

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Definitions:

Lean Cell

A workstation or area in manufacturing designed according to lean principles, focusing on minimizing waste and maximizing efficiency.

Appraisal Costs

Expenses incurred to inspect and test materials and products to ensure they meet the required quality standards.

Activity Costs

Expenses related to the specific activities or operations within a company, often used in activity-based costing.

Lean Accounting

An approach within accounting aimed at improving operational efficiency by reducing waste and streamlining processes without sacrificing quality or performance.