Use the Following Information to Answer Questions (11)-(13)

question 47

Multiple Choice

Use the following information to answer questions (11) -(13) . According to the website www.costofwedding.com,
the average cost of flowers for a wedding is $698. Recently, in a random sample of 40 weddings in the U. S. it
was found that the average cost of the flowers was $734, with a standard deviation of $102. On the basis of this, a
95% confidence interval for the mean cost of flowers for a wedding is $701 to $767.
-Which of the following statements is true about the t-distribution?

• A)For small sample sizes, the t-distribution has the same properties of the normal curve.
• B)For large sample sizes, the t-distribution has the same properties of the normal curve.
• C)Like the Normal distribution, the t-distribution is symmetric for small n.
• D)Since population standard deviation is usually unknown, the standard error uses the sample standard deviation to estimate population standard deviation.

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Definitions:

Groupthink

In a group environment, the need for consensus or conformity creates a psychological effect that results in poor or illogical decisions.

Outside Experts

Specialists or professionals from outside an organization who are hired to provide insight, advice, or services in their area of expertise.

Power and Loyalty Cliques

Groups within an organization characterized by their members' mutual influence and allegiance, which can impact workplace dynamics and politics.

Destructive Competition

A form of competition that negatively affects the parties involved, often leading to unethical behavior, reduced profits, or diminishing market quality.