An Educational Organization in California Is Interested in Estimating the Mean

question 4

Multiple Choice

An educational organization in California is interested in estimating the mean number of minutes per day that children between the age of 6 and 18 spend watching television per day. A previous study showed that the population standard deviation was 21.5 minutes. The organization selected a random sample of n = 200 children between the ages of 6 and 18 and recorded the number of minutes of TV that each person watched on a particular day. The mean time was 191.3 minutes. If the leaders of the organization wish to develop an interval estimate with 98 percent confidence, what critical value should be used?

• A) z = 1.645
• B) t = 2.38
• C) Approximately z = 2.33
• D) Can't be determined without knowing the margin of error.

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Definitions:

Post-Completion Audit

A review conducted after the completion of a project to evaluate its success, including its adherence to budget, timelines, and the achievement of expected benefits.

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A calculation used to assess the attractiveness of an investment by dividing the present value of cash flows by the initial investment.

Accounting Rate of Return

A financial metric used to assess the profitability of an investment, calculated by dividing the average return from an investment by the initial cost.

Profitability Index

A financial tool used to determine the desirability of an investment, calculated as the present value of future cash flows divided by the initial investment cost.