Fifteen SmartCars Were Randomly Selected and the Highway Mileage of Each

question 9

Multiple Choice

Fifteen SmartCars were randomly selected and the highway mileage of each was noted. The analysis yielded a mean of 47 miles per gallon and a standard deviation of 5 miles per gallon.
Which of the following would represent a 90% confidence interval for the average highway
Mileage of all SmartCars?

• A) \(47 \pm 1.753 \frac { 5 } { \sqrt { 15 } }\)
• B) \(47 \pm 1.761 \frac { 5 } { \sqrt { 15 } }\)
• C) \(47 \pm 1.645 \frac { 5 } { \sqrt { 15 } }\)
• D) \(47 \pm 1.345 \frac { 5 } { \sqrt { 15 } }\)

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Definitions:

Domestic Producers

Companies or individuals that manufacture or produce goods and services within their home country, as opposed to importing them from abroad.

Tariffs and Quotas

These are trade policies where tariffs are taxes on imported goods, and quotas are limits on the amount of a good that can be imported.

Import Substitution

An economic policy aimed at replacing foreign imports with domestic production to promote local industries.

Foreign Competition

Competition that domestic companies face from companies located in other countries, influencing markets, pricing, and innovation.