Suppose a Population Has a Mean of 400 and a Standard

question 47

Multiple Choice

Suppose a population has a mean of 400 and a standard deviation of 24.If a random sample of size 144 is drawn from the population,the probability of drawing a sample with a mean less than 402 is _______.

• A) 0.3413
• B) 0.6826
• C) 0.8413
• D) 0.1587
• E) 0.9875

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Definitions:

Market Rate

The prevailing price or interest rate available in the marketplace for goods, services, or securities.

Interest Method

A way of calculating interest where the amount of interest recognized over a period varies and applications could include accounting for bonds or loans.

Straight-Line Amortization

A method of systematically reducing the carrying amount of an intangible asset over its useful life.

Bonds Sold

Refers to bonds that have been issued by an entity and purchased by investors, representing a loan from the investors to the entity.