A Simple Random Sample from a Normal Distribution Is Taken

question 12

Essay

A simple random sample from a normal distribution is taken in order to obtain a 95% confidence
interval for the population mean. If the sample size is 12, the sample mean x
is 32, and the
sample standard deviation s is 7.5, what is the margin of error? Show your answer to 2 decimal
places.

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Definitions:

Deductible

An expense that can be subtracted from adjusted gross income to reduce taxable income, thereby lowering tax liability.

Investment Interest Expense

Interest paid on money borrowed to purchase or held for investment purposes, which can be deducted to reduce taxable income under certain conditions.

Net Investment Income

The income received from investment assets (like stocks and bonds) after expenses associated with making the investment are deducted.

Stocks

Securities that represent ownership in a corporation, entitling the holder to a portion of the company's profits in the form of dividends.