Solve the Problem

question 42

Multiple Choice

Solve the problem. Round your answer to one decimal place unless otherwise indicated.
-A researcher for a car insurance company wishes to estimate the mean annual premium that men aged 20-24 pay for their car insurance. When 16 men aged between 20 and 24 were randomly selected and surveyed on their annual car insurance premiums, a mean of $760 was obtained. Based on this sample statistic, what is the best estimate of the mean annual car insurance premium for all men aged between 20 and 24? Round your answer to the nearest dollar.

• A)$741
• B)$750
• C)$760
• D)$737

Understand the impact of human activities on wetlands and aquatic ecosystems.

Comprehend the approaches and challenges in fauna and flora conservation.

Learn about community-based sustainability efforts.

Recognize the significance of habitat protection for species conservation.

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Definitions:

Transactions Posted

Transactions Posted refers to the process of recording financial transactions in the ledger of an accounting system, ensuring that the financial records are accurate and up-to-date.

Accounts Payable

Short-term liabilities of a company, representing amounts owed to suppliers or creditors for goods and services received.

Purchases On Account

Transactions where goods are bought and payment is deferred to a later date, often resulting in an accounts payable.

Accounts Payable Balance

The total amount of money a company owes to its suppliers or creditors for goods and services purchased on credit.