In a Study of the Paperwork Required to File for a Product

question 99

Multiple Choice

In a study of the paperwork required to file for a product patent, the US Patent Office selected a random sample of 1500 applicants who applied for a patent during the past five years.The study found the average time applicants in the sample took to fill out the required forms was 28.4 hours, with a sample standard deviation of 5.7 hours.If there were 40,000 patent applications during this five-year period, show the 95% confidence interval for the TOTAL hours taken filling out forms for the population of applicants over the five-year period.Report the upper bound for your interval.

• A)3.95 million hours
• B)2.76 million hours
• C)1.14 million hours
• D)0.83 million hours
• E)4.84 million hours

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Definitions:

Group Performance

The efficacy and outcome of a group's ability to achieve its goals or objectives.

Team Potency

The collective belief of a team in its own effectiveness and ability to successfully accomplish tasks.

Clarifying Goals

The process of making objectives clear and understandable to ensure all team members are aligned and working towards the same outcomes.

Servant Leadership

A leadership philosophy in which the main goal of the leader is to serve others by prioritizing the welfare of the team or organization over personal gain.