Use the Given Degree of Confidence and Sample Data to Construct

question 138

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.
- $\mathrm { n } = 30 , \overline { \mathrm { x } } = 84.6 , \mathrm {~s} = 10.5,90 \%$ confidence

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

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Definitions:

Economic Losses

Financial deficits incurred by an individual, organization, or economy stemming from events or actions that reduce wealth or resources.

Constant-cost Industry

An industry in which the input prices do not change as the industry output changes, leading to a supply curve that is perfectly elastic.

Price Per Unit

The cost assigned to a single unit of a product or service, used to determine the total price based on the quantity purchased.

Output Increase

The rise in the quantity of goods or services produced by a company or economy over a certain period.