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

question 49

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 120 gigabytes?

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Definitions:

Excise Tax

A tax imposed on specific goods, services, or transactions, often included in the price of products like tobacco, alcohol, and fuel.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that producers are willing and able to sell.

Deadweight Loss

The reduction in economic efficiency that happens when a good or service doesn't reach or cannot reach equilibrium.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price.