Use the Confidence Level and Sample Data to Find a Confidence

question 16

Multiple Choice

Use the confidence level and sample data to find a confidence interval for estimating the population µ. Round your answer to the same number of decimal places as the sample mean.
-A laboratory tested 73 chicken eggs and found that the mean amount of cholesterol was 230 milligrams with $\sigma = 17.4$ milligrams. Construct a $95 \%$ confidence interval for the true mean cholesterol content, $\mu$ , of all such eggs.

• A) \(225 \mathrm { mg } < \mu < 234 \mathrm { mg }\)
• B) \(225 \mathrm { mg } < \mu < 233 \mathrm { mg }\)
• C) \(226 \mathrm { mg } < \mu < 234 \mathrm { mg }\)
• D) \(227 \mathrm { mg } < \mu < 235 \mathrm { mg }\)

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Definitions:

Credit Balance

A situation in accounting where the total credits in an account exceed the total debits, commonly seen in liability accounts.

Doubtful Accounts

Doubtful accounts are receivables that a company believes might become uncollectible in the future, leading to their designation as a bad debt expense.

Sales Discounts

Reductions to the selling price of goods or services, offered to customers to encourage prompt payment or to incentivize bulk purchases.

Accrual Basis

An accounting method where revenue and expenses are recognized when they are earned or incurred, regardless of when cash transactions occur.