You Want to Estimate the Average GMAT Score for All

question 122

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 12 such students from a comprehensive list of all Logitano students who took the course over the last two years and find that the average GMAT score for the sample was 1040.The population standard deviation is unknown, but the sample standard deviation is 83 points.Assume that the population distribution is approximately normal.Produce the 95% confidence interval estimate of the mean GMAT score for the population of Logitano students over the past two years.Report the upper bound for your interval.

• A)925.3
• B)988.21
• C)1092.74
• D)1156.23
• E)1193.47

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Definitions:

Prices

The price tag anticipated, mandatory, or surrendered in settlement for an item.

Drug Interdiction

The policy or practice of preventing illegal drugs from being trafficked and distributed.

Inelastic

Describes a situation where the demand or supply for a good or service is relatively unresponsive to changes in price, meaning that price variations have little effect on the quantity demanded or supplied.

Elastic Demand

A situation where the demand for a product is sensitive to price changes, with relatively large changes in demand for small changes in price.