Researchers Have Studied the Role That the Age of Workers

question 118

Multiple Choice

Researchers have studied the role that the age of workers has in determining the hours per month spent on personal tasks.A sample of 1,686 adults were observed for one month.The data are: $\begin{array} { l c c c } & & { \text { AGE GROUP } } \\& \underline { 18 - 24 } & \underline {25 - 44 }& \underline { 45 - 64 } \\\text { Mean } & 4.17 & 4.04 & 4.31\\\text { Std DeV } & 0.75 & 0.81 & 0.82 \\\text { N } & 241 & 768 & 677\end{array}$
Construct a 98 percent confidence interval for the mean hours spent on personal tasks for 25-44 year olds.

• A) \(\left[ \begin{array} { l l }
• 3.96 & 4.12
• \end{array} \right]\)
• B) \(\left[ \begin{array} { l l }
• 3.97 & 4.11
• \end{array} \right]\)
• C) \([ 3.98\)\( \quad\)\(4.10 ]\)
• D) \([ 2.16 \quad 5.92 ]\)
• E) \(\left[ \begin{array} { l l }
• 3.95 & 4.13
• \end{array} \right]\)

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Definitions:

Keynesian Analysis

An economic approach that emphasizes the role of aggregate demand in influencing economic output and inflation.

Monetary Policy

The process by which a central bank or monetary authority controls the supply of money in an economy, often targeting interest rates to achieve economic objectives.

Consumption Tax

A tax levied on the purchase of goods and services, which can include value-added tax (VAT), sales tax, or excise taxes.

Income Tax

A tax that governments impose on income generated by businesses and individuals within their jurisdiction.