Fishkin,CPA,is Attempting to Determine Whether the Average Height of a Player

question 20

Essay

Fishkin,CPA,is attempting to determine whether the average height of a player on a basketball team is greater than 80 inches.Based on his sample of basketball players,he determined an estimate of 76 inches with an associated precision of 10 inches.The confidence in this estimate is 90 percent.
A.What is the precision interval associated with Fishkin's sample?
B.Based on this sampling interval,what is Fishkin's conclusion?
C.If Fishkin wanted a higher level of confidence in his sample estimate,would the precision be more or less than 10 inches?

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Definitions:

U-shaped

A description often used in economics to describe the graphical representation of a situation where certain costs initially decrease, reach a minimum, and then start to increase as output expands.

TVC

Total Variable Cost; the entire cost associated with producing a given output level that varies with the quantity of output.

Increasing Rate

A situation where something grows or rises in value at a progressively higher pace over time.