Construct a 99% Confidence Interval for the Population Mean $\mu.$ Assume the Population Has a Normal Distribution

question 76

Multiple Choice

Construct a 99% confidence interval for the population mean, $\mu.$ Assume the population has a normal distribution. A group of 19 randomly selected students has a mean age of 22.4 years with a standard deviation
Of 3.8 years.

• A)(19.9, 24.9)
• B)(16.3, 26.9)
• C)(17.2, 23.6)
• D)(18.7, 24.1)

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Definitions:

Government Intervention

The involvement of a government in a market or economy typically through regulations, policies, or direct actions to influence outcomes like protecting consumers or stimulating economic growth.

Private Enterprise System

An economic system where private individuals or groups have the right to own property or businesses and make a profit with limited government intervention.

Ethical

Ethical refers to behavior or decisions guided by a set of moral principles and values, often relating to what is right and wrong.

Long Run

Refers to a period of time sufficient for all factors of production and costs to become adjustable, often used in economic analysis to predict future trends.