Bert Constructed a Confidence Interval to Estimate the Mean Weight

question 40

Essay

Bert constructed a confidence interval to estimate the mean weight of students in his class. The population was very small - only 30. Ruth constructed a confidence interval for the mean
weight of all adult males in the city. She based her confidence interval on a very small
sample of only 5. Which confidence interval is likely to give a better estimate of the mean it is
estimating? Which is likely to be more of a problem, a small sample or a small population?

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Definitions:

C-type Corporation

A corporation that is taxed separately from its owners, often referred to as a C corporation.

Business Organization

A business organization is a legal and operational structure created to conduct commercial activities, such as corporations, partnerships, and sole proprietorships.

Liabilities

Financial obligations or debts that an entity owes to others, which must be settled over time through the transfer of assets or services.

Assets

Resources owned by a business that have economic value and can be converted into cash or provide future benefits.