Exhibit 8-2
a Random Sample of 121 Automobiles Traveling on an Interstate

question 15

Multiple Choice

Exhibit 8-2
A random sample of 121 automobiles traveling on an interstate showed an average speed of 65 mph. From past information, it is known that the standard deviation of the population is 22 mph.
-Refer to Exhibit 8-2. If we are interested in determining an interval estimate for $\mu$ at 96.6% confidence, the Z value to use is

• A)1.96
• B)0.483
• C)2.12
• D)1.645

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Definitions:

Enforceable Security Interest

A legal claim or lien on collateral that secures the fulfillment of a debt or obligation, which can be enforced in court.

Escrow

A financial arrangement where a third-party holds and regulates payment of the funds required for two parties involved in a given transaction, ensuring fair and secure dealing.

Collateral

An asset offered as security for a loan, which can be seized by the lender if the borrower defaults on the loan payments.

Security Agreement

A legal document that secures an interest in collateral for a lender in a secured transaction.