You Want to Estimate the Average GMAT Score for All

question 45

Multiple Choice

You want to estimate the average GMAT score for all students who took the Logitano GMAT Preparation course during the past 2 years.You select a random sample of 100 such students from a comprehensive list of all students who took the course over the last two years and find that the average GMAT score for the sample was 1040.Suppose now you build a 95% confidence interval estimate of the average score for the population of Logitano students represented here and the interval turns out to be 1040 ± 10 points.How would you interpret your result?

• A)We can be 95% confident that the interval 1030 to 1050 contains the average score for the entire population of Logitano students.
• B)The score for 95% of all Logitano students will be between 1030 and 1050.
• C)There is a 5% chance that not all Logitano students scored between 1030 and 1050.
• D)We can be 95% confident that all of Logitano students scored between 1030 and 1050.
• E)Ninety-five percent of the scores for all Logitano students will be between 1030 and 1050.

---

Definitions:

Society's Goals

The collective aims or objectives sought after by a group of individuals living as a community or society.

Efficiently

Pertains to performing or operating in the best possible manner with the least waste of time and effort.

Resources

Various means or inputs (such as labor, capital, land) used in the production of goods and services.

Efficiency

The extent to which resources are used in the most productive way possible to achieve maximum output or outcomes.