Dottie Kleman Is the "Cookie Lady

question 18

Multiple Choice

Dottie Kleman is the "Cookie Lady." She bakes and sells cookies at 50 different locations. Ms.
Kleman is concerned about absenteeism among her workers. The information below reports the
Number of days absent for a sample of 10 workers during the last two-week pay period.
The sample mean is calculated to be 1.8 and sample standard deviation is 1.1353. Develop a 95%
Confidence interval for the population mean. Assume that the population distribution is normal. Is it
Reasonable to conclude that the typical worker does not miss any days during a pay period?

• A) [0.99, 2.61] It is unreasonable to conclude that the mean number of days of work missed is 0 per employee.
• B) [0.99, 2.61] It is reasonable to conclude that the mean number of days of work missed is 0 per employee.
• C) [-0.99, -2.61] It is unreasonable to conclude that the mean number of days of work missed is 0 per employee.
• D) [-0.99, -2.61] It is reasonable to conclude that the mean number of days of work missed is 0 per employee.

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Definitions:

Borrow

The action of receiving something from another party with the intention of returning it or its equivalent at a later date.

Ordinary Annuity

A series of equal payments made at regular intervals over a specified period of time, with interest compounding at the end of each period.

Compounded Quarterly

Pertains to the process of calculating interest on a principal sum where the interest is added to the principal at the end of every quarter, thus interest in the next quarter is then earned on the new total.

Payments

Transactions by which goods, services, or obligations are paid for through the transfer of money or its equivalents.