A Random Sample Of $\mathrm { n }$ Measurements Was Selected from a Population with Unknown Mean

question 123

Multiple Choice

A random sample of $\mathrm { n }$ measurements was selected from a population with unknown mean $\mu$ and known standard deviation $\sigma$ . Calculate a $95 \%$ confidence interval for $\mu$ for the given situation. Round to the nearest hundredth when necessary.
$$\mathrm { n } = 125 , \overline { \mathrm { x } } = 91 , \sigma = 20$$

• A) \(91 \pm 39.2\)
• B) \(91 \pm 2.94\)
• C) \(91 \pm 0.31\)
• D) \(91 \pm 3.51\)

---

Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, enabling trade and increased efficiency.

Trade Better Off

The idea that parties involved in voluntary trading are better off as they satisfy each other's needs or wants.

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors with the same amount of resources.

Production Possibilities

The various combinations of goods and services that can be produced using all available resources and technology.