If You Wish to Estimate with 95% Confidence the Average

question 105

Multiple Choice

If you wish to estimate with 95% confidence the average number of miles that students living off-campus commute to classes every day, a random sample of 20 students produced a mean equal to 5.2 miles and a standard deviation of 3.05 miles. Then the point estimate for the true population mean is:

• A) 3.22
• B) 6.63
• C) 5.20
• D) 2.15
• E) 1.96

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Definitions:

Depreciation

The systematic allocation of a tangible asset's cost over its useful life, reflecting wear and use over time.

Allocate

The process of assigning costs or resources to different departments, projects, or activities based on specific criteria.

Floor Space

The total area available for use within a building or premises, often considered in retail and real estate contexts.

Direct Expense

Costs that can be directly tied to the production or sale of specific goods or services.