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The mean weight of trucks traveling on a particular section of I-475 is not known. A state highway inspector needs an estimate of the population mean. He selects and weighs a random sample of 49 trucks and finds the mean weight is 15.8 tons. The population standard deviation is 3.8 tons. What is the 95% confidence interval for the population mean?
Standards of Living
The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
Developing Countries
Countries with a low living standard because of less human and physical capital per worker; typified by high rates of illiteracy, high unemployment, high fertility rates, and exports of primary products; also known as low-income and middle-income economies
Physical Capital
The stock of equipment, buildings, vehicles, and machinery that is used to produce goods and services; a factor of production that is not consumed in the production process.
Labor Productivity
The output per worker, assessing how efficiently labor is utilized in production.
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