The Economics Department Secretary Wants to Estimate the Average Number $\bar { x }$

question 61

Short Answer

The economics department secretary wants to estimate the average number of bottled drinks sold each day out of the vending machine.Similar vending machine sales have a standard deviation of 9 bottles per day.She wants to be 95-percent confident that the estimate, $\bar { x }$ ,obtained is within 3 bottles of the true mean $\mu$ .How large a sample is needed?

Understand the role of opportunity costs in financial decision making.

Differentiate between assets and liabilities, including their classifications.

Grasp the concept of net worth and how it is affected by personal financial decisions.

Learn about the importance of secure document storage and what documents should be stored in a safe-deposit box.

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Definitions:

Time Management

The process of organizing and planning how to divide one’s time between specific activities efficiently and effectively.

Communication

The giving and receiving of ideas, feelings, and information among people.

Morale

Morale is the level of confidence, enthusiasm, and dedication a person or group feels towards a task or cause.

Workplace

A physical or virtual location where employees perform their job tasks.