Use the Given Degree of Confidence and Sample Data to Construct

question 56

Multiple Choice

Use the given degree of confidence and sample data to construct a confidence interval for the population mean µ. Assume that the population has a normal distribution.
-A sociologist develops a test to measure attitudes towards public transportation, and 27 randomly selected subjects are given the test. Their mean score is 76.2 and their standard deviation is 21.4.
Construct the 95% confidence interval for the mean score of all such subjects.

• A) \(74.6 < \mu < 77.8\)
• B) \(67.7 < \mu < 84.7\)
• C) \(64.2 < \mu < 88.2\)
• D) \(69.2 < \mu < 83.2\)

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Definitions:

Total Fixed Cost

The sum of all costs that remain constant regardless of the level of production or business activity.

Manufacturing Overhead

The sum of all costs associated with the production process that cannot be directly traced to specific products, such as maintenance expenses, factory utilities, and property taxes; it's crucial for calculating the total cost of production.

Relevant Range

The scope of business activity within which the assumptions about fixed and variable costs are valid.

Average Costs

This represents the total cost of production divided by the number of units produced, indicating the cost per unit.