Determine Whether the Given Conditions Justify Using the Margin of Error

question 1

Multiple Choice

Determine whether the given conditions justify using the margin of error $\mathrm { E } = \mathrm { z } _ { \alpha / 2 } \sigma / \sqrt { \mathrm { n } }$ when finding a confidence interval estimate of the population mean $\mu$ .
-The sample size is n $\mathrm { n } = 5 , \sigma = 12.7$ and the original population is normally distributed.

• A)Yes
• B)No

Understand the concept of economic profit in the long run within monopolistically competitive markets.

Illustrate how monopolistic competition affects consumer choice and market variety.

Analyze the role of advertising and brand differentiation in monopolistic competition.

Understand the characteristics and outcomes of monopolistic competition.

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Definitions:

Retention

The ability to maintain possession of information or knowledge over time, often used in the context of learning and memory.

Steady

Consistently reliable and stable in performance, behavior, or progress, often indicative of calmness and control.

Rapid

Quickly occurring or moving at a fast pace.

Repression

A defense mechanism where an individual unconsciously blocks unpleasant memories, thoughts, or feelings from their awareness.