How Much Money Does the Average Professional Football Fan Spend $19 \pm 2.821 ( 2.95 / \sqrt { 10 } )$

question 19

Short Answer

How much money does the average professional football fan spend on food at a single football game? That question was posed to 10 randomly selected football fans. The sample results provided a sample mean and standard deviation of $19.00 and $2.95, respectively. Use this information to construct a 98% confidence interval for the mean. A) $19 \pm 2.821 ( 2.95 / \sqrt { 10 } )$

B) $19 \pm 2.764 ( 2.95 / \sqrt { 10 } )$

C) $19 \pm 2.718 ( 2.95 / \sqrt { 10 } )$

D) $19 \pm 2.262 ( 2.95 / \sqrt { 10 } )$

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Definitions:

Job Evaluation System

A method used by organizations to assess the value of each job in relation to others within the company to determine appropriate compensation levels.

Point Method

A technique used in job evaluation that involves quantifying job elements to determine the value of a position within an organization.

Competency-Based Pay

A salary system that bases compensation on an employee's skills, abilities, and performance rather than job title or position alone.

Commission Pay

A form of compensation based on a percentage of sales or profits generated by an employee, commonly used in sales roles to motivate performance.