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Marc Wants to Know If the Mean Age of the Prison

question 33

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Marc wants to know if the mean age of the prison population in his city is less than 26 years.He obtains a random sample of 25 prisoners,and finds a mean age of 24.4 years and a standard deviation of 9.2 years.At a significance level of 0.05,what is his conclusion?


Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, with certain rights such as voting rights and receiving dividends.

Preference Rights

Rights giving certain shareholders or bondholders a priority claim over assets or earnings, typically in the event of liquidation or dividend distribution.

Authorized Shares

The maximum number of shares a corporation is legally allowed to issue, as specified in its articles of incorporation.

Paid-In Capital

The total amount of money that shareholders have invested in a company through the purchase of stock.

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