THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 67

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The number of hours spent studying by students on Michigan State campus in the week before final exams follows a normal distribution with standard deviation 9.5 hours.A random sample of these students is taken to estimate the population mean number of hours studying.
-How large a sample is needed to ensure that the probability that the sample mean differs from the population mean by more than 2.1 hours is less than 0.05?

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Definitions:

Administrative

Pertaining to the activities involved in the management, governance, or organization of a business, typically those responsible for enforcing policies and making decisions.

Operating Expenses

Costs associated with running a business's core operations on a day-to-day basis, excluding the cost of goods sold.

Product Costs

Costs that are directly associated with the production of goods, including materials, labor, and manufacturing overhead.

Product Costs

All costs incurred to acquire or produce a product that is intended for sale, including direct materials, direct labor, and manufacturing overhead.