A Highway Inspector Needs an Estimate of the Mean Weight

question 31

Multiple Choice

A highway inspector needs an estimate of the mean weight of trucks crossing a bridge on the interstate highway system. She selects a random sample of 49 trucks and finds a mean of 15.8 tons with a sample standard deviation of 3.85 tons. The 90 percent confidence interval for the population mean is:

• A)14.72 to 16.88 tons.
• B)14.90 to 16.70 tons.
• C)14.69 to 16.91 tons.
• D)14.88 to 16.72 tons.

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Definitions:

Price Decline

A decrease in the market price of an asset or security over a certain period.

Zero-Coupon Bond

A bond that does not pay periodic interest payments and is issued at a discount to its face value, which is paid at maturity.

Annual Coupon Bond

A type of bond that pays interest to the bondholder on an annual basis.

Portfolio Value

The total worth of all the financial assets held in an investment portfolio, which can vary over time based on market conditions.