The Ages of Five Randomly Chosen Cars in a Parking

question 27

Multiple Choice

The ages of five randomly chosen cars in a parking garage are determined to be 7, 9, 3, 4, and 6 years old. If weconsider this sample of 5 in groups of 3, what is the probability of the population mean falling between 5.5 and6.5 years?

• A) 0.5
• B) 0.4
• C) 0.55
• D) 0.6

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Definitions:

Efficiency

The ratio of the output gained from a system to the input used, often used to evaluate the performance of a business operation or machine.

Standard Price

A pre-determined cost that is often used in budgeting and financial planning, serving as a benchmark for performance evaluation.

Direct Materials

Materials that become an integral part of a finished product and whose costs can be conveniently traced to it.

Final, Delivered Cost

The comprehensive cost of a good or service including its production, logistics, and any other costs until its delivery to the final consumer.