THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 101

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The number of beverage cans produced each hour from a vending machine is normally distributed with a standard deviation of 8.6.For a random sample of 12 hours,the average number of beverage cans produced was 326.0.Assume a 99% confidence interval for the population mean number of beverage cans produced per hour.
-Calculate the width of the 99% confidence interval estimate.

• A)12.81
• B)3.21
• C)6.41
• D)7.20

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Definitions:

Condemned

Property that has been officially taken by a government for public use, or deemed unsafe or unfit for use, often through the process of eminent domain or as a result of health and safety inspections.

Fair Market Value

Fair market value is the price at which an informed, willing, but not compelled buyer would pay to an informed, willing, but not compelled seller in an arm's-length transaction.

Adverse Possession

A principle in property law where a person who does not have legal title to a piece of property acquires legal ownership based on continuous possession of the property for a certain period of time.

Set Time Period

A specified duration during which certain actions, obligations, or conditions must be initiated or completed.