Given a Sampling Distribution of the Sample Mean That

question 78

Multiple Choice

Given a sampling distribution of the sample mean that is normally distributed and has a mean of 30 and a standard deviation of 8, a sample mean of 40 corresponds to:

• A) a z-value of -1.25
• B) a z-value of +1.25
• C) a z-value of +2.25
• D) a sample size of 120
• E) a sample size of 300

---

Definitions:

Conspicuous Consumption

The spending of money on and the acquisition of luxury goods and services to publicly display economic power or social status.

Induced Consumption

Consumer spending that increases when income rises and decreases when income falls, reflecting a direct relationship between income and consumption.

Total Consumption

The aggregate amount of goods and services consumed by individuals, households, and others in an economy during a given period.

Consumption Function

An economic formula representing the relationship between total consumption and gross national income.