Use the Given Degree of Confidence and Sample Data to Construct

question 117

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.
-The principal randomly selected six students to take an aptitude test. Their scores were: $\begin{array} { l l l l l l } 81.4 & 78.6 & 71.3 & 77.8 & 76.9 & 77.7 \end{array}$
Determine a $90 \%$ confidence interval for the mean score for all students.

• A) \(80.11 < \mu < 74.45\)
• B) \(80.01 < \mu < 74.55\)
• C) \(74.55 < \mu < 80.01\)
• D) \(74.45 < \mu < 80.11\)

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Definitions:

Demand for Money

The desire or need by individuals and businesses to hold liquid assets, primarily currency and demand deposits, for transactional, precautionary, and speculative purposes.

Nominal GDP

Nominal Gross Domestic Product refers to the market value of all final goods and services produced within a country in a given period, measured in current market prices.

Expansionary Monetary Policy

A monetary policy strategy used by central banks to increase the money supply to stimulate economic growth, typically by lowering interest rates.

Aggregate Expenditure

The total spending on final goods and services in an economy over a specific time period, including consumption, investment, government purchases, and net exports.