Exhibit 21-2 A Simple Random Sample of 43 Elements Has Been Selected

question 41

Multiple Choice

Exhibit 21-2
A simple random sample of 43 elements has been selected from a population of size 800. The sample mean is 500, and the sample standard deviation is 60.
-Refer to Exhibit 21-2. An approximate 95% confidence interval for the population total is

• A)482 to 517
• B)385,759 to 414,241
• C)400,000 to 500,000
• D)350,000 to 450,000

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Definitions:

Wealth

An abundance of valuable resources or material possessions, or the control of such assets.

Stocks

Financial instruments that represent an ownership share in a company, granting the holder a claim on part of the company's assets and profits.

Status Groups

Subsets within a society distinguished by shared characteristics such as occupation, lifestyle, or prestige, often influencing social stratification.

Weber

Max Weber, a German sociologist, who contributed significantly to the development of sociology, especially in the areas of bureaucracy, social stratification, and the study of religion.