Suppose the Population of All Public Universities Shows the Annual

question 18

Multiple Choice

Suppose the population of all public Universities shows the annual parking fee per student is normally distributed with a mean of $110 with a standard deviation of $18.If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a mean of more than $115 is _______.

• A)0.9738
• B)0.4738
• C)0.0262
• D)0.6103
• E)0.1103

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Definitions:

Iso-profit Line

A graphical representation in economics showing all possible combinations of two inputs that yield the same profit level.

Producing

The act of creating, manufacturing, or generating goods or services.

Feasible Solution

A solution to a problem that meets all the constraints and requirements, often used in the context of optimization problems.

Quantity

A term denoting the amount or number of units of a particular item or material.