A Large University Is Interested in Learning About the Average $23.243$

question 73

Multiple Choice

A large university is interested in learning about the average time it takes students to drive to campus. The university sampled 51 students and asked each to provide the amount of time they spent traveling to campus. The sample results found that the sample mean was $23.243$ minutes and the sample standard deviation was $20.40$ minutes. It is desired to determine if the population standard deviation exceeds 20 minutes. Calculate the test statistic for this test of hypothesis.

• A) \(\chi ^ { 2 } = 53.06\)
• B) \(\chi ^ { 2 } = 52.02\)
• C) \(\chi ^ { 2 } = 58.11\)
• D) \(\chi ^ { 2 } = 51\)

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Definitions:

Investment Projects

Initiatives undertaken by a business or organization to invest in new assets, technology, or resources with the expectation of generating future benefits.

Total-Cost Approach

A pricing strategy that considers all costs associated with producing and delivering a product or service to determine its selling price.

Discount Rate

The interest rate used to discount future cash flows to present value.

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity available for running day-to-day operations.