A Random Sample of 100 People Was Selected from a Population

question 112

True/False

A random sample of 100 people was selected from a population of customers at a local bank. The mean age of these customers was 40. If the population standard deviation is thought to be 5 years, the margin of error for a 95 percent confidence interval estimate is .98 year.

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Definitions:

Data Analytics

The process of examining data sets to draw conclusions about the information they contain, often with the aid of specialized systems and software.

Artificial Intelligence

The simulation of human intelligence processes by machines, especially computer systems, including learning, reasoning, and self-correction.

Data Visualization

The graphical representation of data to help communicate its insights effectively, using visual elements like charts, graphs, and maps.

Enterprise Software

Large-scale software solutions designed to support the complex operations of large organizations, including CRM, ERP, and SCM systems.