A University Has 1,000 Computers Available for Students to Use

question 52

Essay

A university has 1,000 computers available for students to use. Each computer has a 250-gigabyte hard drive. The university wants to estimate the space occupied on the hard drives. A random sample of 100 computers showed a mean of 115 gigabytes used with a standard deviation of 20 gigabytes. What is the probability that a sample mean is greater than 200 gigabytes?

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Definitions:

Face Value

The nominal or principal value of a financial instrument as stated by the issuer, typically used for bonds or currency notes.

Interest Expense

The cost incurred by an entity for borrowed funds, represented as an expense on the income statement.

Market Rate

The current price or interest rate at which securities, commodities, or currencies can be bought or sold in a marketplace.

Contract Rate

The contract rate is the interest rate specified in a contract, especially in lending agreements or bond issuances, dictating the interest payments to be made.