How Much Money Does the Average Professional Football Fan Spend $70 \pm 1.833 \left( \frac { 17.50 } { \sqrt { 60 } } \right)$

question 21

Multiple Choice

How much money does the average professional football fan spend on food at a single football game? That question was posed to ten randomly selected football fans. The sampled results show
That the sample mean and sample standard deviation were $70.00 and $17.50, respectively. Use
This information to create a 95 percent confidence interval for the population mean.

• A) \(70 \pm 1.833 \left( \frac { 17.50 } { \sqrt { 60 } } \right)\)
• B) \(70 \pm 2.262 \left( \frac { 17.50 } { \sqrt { 60 } } \right)\)
• C) \(70 \pm 2.228 \left( \frac { 17.50 } { \sqrt { 60 } } \right)\)
• D) \(70 \pm 1.960 \left( \frac { 17.50 } { \sqrt { 60 } } \right)\)

---

Definitions:

Unearned Revenue

Income received by a company for goods or services that have yet to be delivered or performed, also known as deferred revenue.

Normal Balance

The side (debit or credit) of an account that is typically increased. For example, assets and expenses usually have a debit normal balance, while liabilities, equity, and revenue have a credit normal balance.

Adjusting Journal Entry

A record made in the books to correct or update financial statements prior to issuing them, ensuring they reflect true values.

Fees Earned

Revenue generated from providing services, as opposed to selling goods, in a given period.