THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 2

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The Daytona Beach Tourism Commission is interested in the average amount of money a typical college student spends per day during spring break.They survey 35 students and find that the mean spending is $63.57 with a standard deviation of $17.32.
-What level of confidence is associated with an interval of $58.62 to $68.52 for the population mean daily spending?

---

Definitions:

Operating Leverage

A measure of how revenue growth translates into growth in operating income, influenced by the proportion of fixed costs in total costs.

Net Operating Income

Income produced by a firm's regular activities, not including taxes and interest.

Sales Increase

The rise in the quantity or volume of products sold or revenue generated over a specific period.

Variable Expenses

Costs that vary in direct proportion to changes in the level of production or sales volume, such as materials or sales commissions.