Use the Given Degree of Confidence and Sample Data to Find

question 4

Multiple Choice

Use the given degree of confidence and sample data to find a confidence interval for the population standard deviation σ.
Assume that the population has a normal distribution. Round the confidence interval limits to the same number of decimal places as the sample standard deviation.
-Weights of eggs: 95% confidence; n = 22, $\bar { x }$ = 1.65 oz, s = 0.47 oz

• A) \(0.38 \mathrm { oz } < \sigma < 0.63 \mathrm { oz }\)
• B) \(0.37 \mathrm { oz } < \sigma < 0.61 \mathrm { oz }\)
• C) \(0.36 \mathrm { oz } < \sigma < 0.65 \mathrm { oz }\)
• D) \(0.36 \mathrm { oz } < \sigma < 0.67 \mathrm { oz }\)

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Definitions:

Sales Commissions

Payments made to sales personnel based on the value or volume of sales they have made, usually a percentage of the sale price.

Net Operating Income

Calculated as revenues minus expenses, excluding taxes and interest, representing the profit generated from normal business operations.

Monthly Sales

The total revenue or the number of units sold by a business in one calendar month.

Break-even Point

The point at which total revenues equal total costs, and the business makes neither a profit nor a loss.