Use the Given Degree of Confidence and Sample Data to Find

question 20

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 one more decimal place
than is used for the original set of data.
-The football coach randomly selected ten players and timed how long each player took to perform a certain drill. The times (in minutes) were: $\begin{array} { l l l l l } 9 & 7 & 15 & 6 & 15 \end{array}$
$\begin{array} { l l l l l } 12 & 8 & 6 & 14 & 5 \end{array}$
Find a $95 \%$ confidence interval for the population standard deviation $\sigma$ .

• A) \(2.7 \mathrm {~min} < \sigma < 6.6 \mathrm {~min}\)
• B) \(2.7 \mathrm {~min} < \sigma < 7.2 \mathrm {~min}\)
• C) \(2.6 \mathrm {~min} < \sigma < 6.6 \mathrm {~min}\)
• D) \(0.8 \mathrm {~min} < \sigma < 2.4 \mathrm {~min}\)

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Definitions:

Cost-to-Retail Ratio

A method used in inventory accounting that calculates the cost of goods available for sale as a percentage of the retail price of the goods.

Net Markdowns

Net markdowns represent the reduction in the selling price of goods or products, often reflecting changes in market demand or stock clearance needs, net of any markdown cancellations.

Ending Inventory's Valuation

The process of assigning value to the inventory that is still on hand at the end of an accounting period.

Retail Inventory Method

An accounting method used by retailers to estimate their inventory's ending value by using a cost to retail price ratio.