An Economist Is Interested in Studying the Incomes of Consumers

question 66

Multiple Choice

An economist is interested in studying the incomes of consumers in a particular country.The
Population standard deviation is known to be $1,000.A random sample of 50 individuals
Resulted in a mean income of $15,000.What is the width of the 90% confidence interval?

• A) $232.60
• B) $364.30
• C) $465.23
• D) $728.60

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Definitions:

Multicultural Ethical Awareness

The understanding and sensitivity to ethical issues and values across a variety of cultures, crucial in global business and interpersonal relations.

Cultural Differences

The varying beliefs, behaviors, languages, practices, and expressions considered unique to members of a specific ethnicity, region, or national background.

Ethical Problems

are dilemmas or conflicts arising from competing moral principles or values, often requiring careful consideration and judgement.

Knowledgeable

Possessing or showing a high level of knowledge or information about a particular subject or range of subjects.