A Sample of Size 56 Will Be Drawn from a Population

question 121

Multiple Choice

A sample of size 56 will be drawn from a population with mean 26 and standard deviation 11. Find the probability that $\bar { x }$ will be less than 28.

• A) 0.9131
• B) 0.0869
• C) 0.9394
• D) 0.9406

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Definitions:

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a person, group, or society.

Comparative Advantage

Comparative advantage is the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.

Tariff

A tax imposed by a government on goods and services imported from other countries, to regulate trade and protect domestic industries.

Protectionism

The economic policy of restricting imports from other countries through methods like tariffs and quotas to protect domestic industries.