Assume the Sample Is Taken from a Normally Distributed Population $\sigma ^ { 2 }.$

question 51

Multiple Choice

Assume the sample is taken from a normally distributed population and construct the indicated confidence interval.
-The mean replacement time for a random sample of 12 microwave ovens is 8.6 years with a standard deviation of 5.3 years. Construct the 98% confidence interval for the population variance, $\sigma ^ { 2 }.$

• A)(12.5, 101.2)
• B)(3.5, 10.1)
• C)(2.4, 19.1)
• D)(11.8, 86.5)

---

Definitions:

Tailored Sourcing

The practice of customizing the procurement process to fit the specific needs and requirements of a business.

Improve Profitability

Involves strategies and actions aimed at increasing the net income relative to revenue, effectively enhancing the financial performance of a business.

Profitability

A measure of the efficiency of a company in generating profits from its operations, calculated as the ratio of net income to revenue.

Sourcing

The process involved in finding, evaluating, and engaging suppliers of goods and services.