Do One of the Following, as Appropriate: (A) Find the Critical

question 12

Multiple Choice

Do one of the following, as appropriate: (a) Find the critical value z?/2, (b) find the critical value t?/2, (c) state that neither the normal nor the t distribution applies.
- $91 \% ; \mathrm { n } = 45 ; \sigma$ is known; population appears to be very skewed.

• A) \(\mathrm { z } _ { \alpha / 2 } = 1.75\)
• B) \(\mathrm { t } _ { \alpha / 2 } = 1.34\)
• C) \(\mathrm { z } _ { \alpha / 2 } = 1.70\)
• D) \(t _ { \alpha / 2 } = 1.645\)

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Definitions:

Monopoly

A market structure in which a single seller controls the entire market for a product or service, facing no competition.

Natural Monopoly

A market condition where a single firm can supply a product or service more efficiently than multiple firms, leading to a lack of competition.

Patent

A Patent is a legal document granted by the government, giving an inventor exclusive rights to manufacture, use, or sell an invention for a certain number of years.

Exclusive Use

The right to use a property or product without sharing it with others, often refers to licenses or real estate.