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The mean replacement time for a random sample of 12 CD players is 8.6 years with a standard deviation of 5.8 years. Construct the 98% confidence interval for the population variance, σ2. Assume the data are normally distributed, and round to the nearest hundredth when necessary.
Foreign Corporation
A corporation in a state in which it conducts business but is not incorporated.
S Corporation
A type of corporation in the United States that meets specific Internal Revenue Code requirements and is taxed differently, passing income directly to shareholders.
Shareholders
Individuals or entities that own shares in a corporation, giving them certain rights and interests in the company.
Ultra Vires Act
Actions conducted by a corporation's management or board that are beyond the scope of its powers as defined by its charter or the law.
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