Suppose the Population of All Colleges Shows the Annual Parking

question 5

Multiple Choice

Suppose the population of all colleges shows the annual parking fee per student is $110 with a standard deviation of $18. If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a mean of more than $115 is ___.

• A) 0.9738
• B) 0.4738
• C) 0.0262
• D) 0.6103
• E) 0.1103

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Definitions:

Slope

A measure of the steepness, incline, or grade of a line, typically determined by the ratio of the vertical change to the horizontal change.

Point C

In the context of economic models, Point C can represent a specific position on a graph, such as on a supply and demand curve or a production possibilities frontier, illustrating a particular economic condition or choice.

Slope

Measures the steepness, incline, or grade of a line on a graph, representing the rate of change of the variables plotted on the axes.

Indeterminate

An outcome or situation that cannot be definitively determined or predicted due to the presence of too many unknown variables.