THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 104

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The faculty advisor at a local business school is interested in determining the monthly expenditures on stationeries for students.The advisor samples some students from each class and computes the sample mean and standard deviation for each class.

-Find a 98% confidence interval for the mean monthly expenditures.

• A)64.67 ± 5.285
• B)64.67 ± 3.278
• C)64.67 ± 7.875
• D)64.67 ± 4.326

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Definitions:

Conjunction Fallacy

A logical fallacy where people incorrectly judge the probability of the conjunction of two events to be more likely than the probability of either event alone.

Gambler's Fallacy

A cognitive bias where an individual erroneously believes that past events will affect the likelihood of future independent events, often seen in probability contexts.

Bilingualism

The ability to fluently speak two languages.

Smaller Vocabularies

A limited set of words known and used by an individual or group, often associated with language development issues.