Suppose That 100 Items Are Drawn from a Population of Manufactured

question 10

Multiple Choice

Suppose that 100 items are drawn from a population of manufactured products and the weight,X,of each item is recorded.Prior experience has shown that the weight has a non-normal probability distribution with μ = 8 ounces and σ = 3 ounces.Which of the following is true about the sampling of ?

• A)Its mean is 8 ounces.
• B)Its standard error is 0.3 ounces.
• C)Its shape is approximately normal.
• D)All of these choices are true.

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Definitions:

Disposable Income

The pot of funds households have at their disposal for saving and spending, post-income tax.

MPC

refers to the Marginal Propensity to Consume, which is the fraction of additional income that a household spends on consumption.

Disposable Income

The cash flow available to households for the purposes of spending and saving after income taxes.

Disposable Income

Disposable Income is the amount of money that households have available for spending and saving after income taxes have been accounted for, directly influencing consumption and savings behavior.