Use the Given Degree of Confidence and Sample Data to Construct

question 5

Multiple Choice

Use the given degree of confidence and sample data to construct a confidence interval for the population mean $\mu$ . Assume that the population has a normal distribution. $n = 30 , \bar { x } = 84.6 , \mathrm {~s} = 10.5,90 \%$ confidence

• A) \(79.32 < \mu < 89.88\)
• B) \(80.68 < \mu < 88.52\)
• C) \(81.34 < \mu < 87.86\)
• D) \(81.36 < \mu < 87.84\)

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price over a specified period.

Economists

Economists are experts who study how societies use scarce resources to produce valuable commodities and distribute them among different people.

Demand Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity demanded by consumers at various prices, typically downward sloping.