THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 7

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sales representative has 425 accounts.From a random sample of 60 of these accounts,she found that the average yearly order was $1,250 with a standard deviation of $70.She also found that 28 out of 60 in the sample have placed an order in the last four weeks.
-Find a 90% confidence interval for the total amount of sales for the sales representative.

• A)$531,250 ± 5,861.93
• B)$87,500 ± $3,651.51
• C)$75,000 ± $2,840.11
• D)$29,750 ± $4,115.33

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Definitions:

Protected Monopoly

refers to a market or industry where a single provider is shielded from competition through legal means, such as regulations or patents.

Monopoly Environment

A market structure characterized by a single seller, selling a unique product in the market.

Competitive Advantage

The attributes or conditions that allow a company or country to produce goods or services more efficiently or at a higher quality than its competitors.

Sustainable Profit

Profit achieved without compromising the ability of future generations to meet their needs, often associated with ethical and environmentally friendly practices.