A Population Has a Mean of 80 and a Standard

question 118

Multiple Choice

A population has a mean of 80 and a standard deviation of 7. A sample of 49 observations will be taken. The probability that the sample mean will be larger than 82 is

• A)0.5228
• B)0.9772
• C)0.4772
• D)0.0228

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Definitions:

Real Cost

The total economic cost of production, considering all direct and indirect resources consumed, including opportunity costs.

Commodity Resources

Basic goods used in commerce that are interchangeable with other goods of the same type.

Fracking

A method of oil and gas extraction that involves injecting liquid at high pressure into subterranean rocks, boreholes, etc., to force open existing fissures and extract oil or gas.

U.S. Oil Supply

The total quantity of oil available for use or consumption in the United States, coming from domestic production and imports.