A Study of Peach Trees Found That the Average Number

question 43

Multiple Choice

A study of peach trees found that the average number of peaches per tree was 1025. The standard deviation of the population is 35 peaches per tree. A scientist wishes to find the
99% confidence interval for the mean number of peaches per tree. How many trees does
She need to sample to obtain an average accurate to within 18 peaches per tree?

• A) 23
• B) 26
• C) 21
• D) 4

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Definitions:

Financial Investment

The purchase of a financial asset (such as a stock, bond, or mutual fund) or real asset (such as a house, land, or factories) or the building of such assets in the expectation of financial gain.

Certificate of Deposit

A savings certificate with a fixed maturity date and specified fixed interest rate, often issued by banks.

Opportunity Costs

The value of the best alternative that must be foregone as a result of choosing a particular option.

Forgoing

The act of giving up something, typically as a sacrifice or in order to choose another option.