Exhibit 8-1 in Order to Estimate the Average Time Spent on the on the Computer

question 102

Multiple Choice

Exhibit 8-1
In order to estimate the average time spent on the computer terminals per student at a local university, data were collected from a sample of 81 business students over a one-week period. Assume the population standard deviation is 1.2 hours.
-Refer to Exhibit 8-1. With a 0.95 probability, the margin of error is approximately

• A)0.26
• B)1.96
• C)0.21
• D)1.64

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Definitions:

Oligopolies

Giant corporations that control part of an economy. They are few and tend not to compete against one another. Instead, they can set prices at levels that are most profitable for them.

Dominate an Industry

To be the most influential or powerful entity within a particular market or sector, often through superior products, market share, or innovative strategies.

Multinational Corporations

Large corporations that operate and provide goods or services in multiple countries, often having significant economic, political, and cultural influence.

Low-Wage Countries

Nations with a general level of income that is much lower than the global average, often associated with high levels of poverty.