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Instruction: For each situation below,construct the 95% confidence interval estimate to the population.Assume that the results are based on a nationally representative sample.Express the estimate in a sentence.
Refer to the instruction.The average years of school completed for 734 respondents was 11.9 with a standard deviation of 0.5.
Total Profit
The overall financial gain made by a business after subtracting all expenses from total revenue.
Graph
A diagram representing a system of connections or interrelations among two or more things by a number of distinctive dots, lines, bars, etc.
Rectangle
A four-sided polygon with four right angles and opposite sides of equal length.
Perfect Competitors
Market participants in a perfectly competitive market where no single buyer or seller has the power to influence prices.
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