A Local Company Makes a Candy That Is Supposed to Weigh

question 58

Multiple Choice

A local company makes a candy that is supposed to weigh 1.00 ounces.A random sample of 25 pieces of candy produces a mean of 0.996 ounces with a standard deviation of 0.004 ounces.Construct a 98 percent confidence interval for the mean weight of all such candy.

• A) \([ 0.9645 \quad 1.0275 ]\)
• B) \(\left[ \begin{array} { l l }
• 0.9956 & 0.9964
• \end{array} \right]\)
• C) \(\left[ \begin{array} { l l }
• 0.9860 & 1.0060
• \end{array} \right]\)
• D) \(\left[ \begin{array} { l l }
• 0.9940 & 0.9980
• \end{array} \right]\)
• E) \(\left[ \begin{array} { l l }
• 0.9942 & 0.9978
• \end{array} \right]\)

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Definitions:

Production Incentives

Motivational factors or rewards designed to encourage increased productivity or output by workers or companies.

Marginal Productivity Theory

An economic theory that explains income distribution based on the productivity of the factor inputs in producing goods and services.

Income Distribution

The way in which a nation’s total income is spread among its population, affecting economic inequality.

Output Value

The total value of all goods or services produced by a firm or economy, often measured in terms of monetary value.