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The State Department of Weights and Measures is responsible for making sure that commercial weighing and measuring devices, such as scales, are accurate so customers and businesses are not cheated. Periodically, employees of the department go to businesses and test their scales. For example, a dairy bottles milk in 1-gallon containers. Suppose that if the filling process is working correctly, the mean volume of all gallon containers is 1.00 gallon with a standard deviation equal to 0.10 gallon. The department's test process requires that they select a random sample of n = 9 containers. If the sample mean is less than 0.97 gallon, the department will fine the dairy. Based on this information, suppose that the dairy wants no more than a 0.05 chance of being fined, which of the following options exist if they can't alter the filling standard deviation?
Historic Preservation Easement
A legal agreement that protects a property's historical features by restricting certain changes, ensuring its preservation for future generations.
Life Estate
A legal arrangement where an individual is granted the rights to use and benefit from property during their lifetime, but does not own the property outright.
Fee Simple
A type of real estate ownership where the owner has unrestricted rights to the property, including the right to sell or bequeath it.
Future Interest
A legal right to property ownership that will begin at a future date, rather than immediate possession.
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