Suppose a Population Has a Mean of 90 and a Standard

question 78

Multiple Choice

Suppose a population has a mean of 90 and a standard deviation of 28.If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a mean between 80 and 100 is ___.

• A)0.9876
• B)0.0124
• C)0.4938
• D)0.0062
• E)1.0000

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Definitions:

Classical Economics

A school of thought in economics that emphasizes the importance of free markets, competition, and the self-regulating nature of economies.

Adam Smith

A Scottish economist, philosopher, and author who is considered the father of modern economics, known for his theories on free markets.

John Maynard Keynes

A British economist whose theories on the effects of government spending and total demand influenced modern macroeconomics and government fiscal policy.

Karl Marx

A 19th-century philosopher, political economist, and revolutionary, best known for his critical analysis of capitalism and his advocacy for communism.