Suppose a Population Has a Mean of 870 and a Variance

question 35

Multiple Choice

Suppose a population has a mean of 870 and a variance of 1,600.If a random sample of size 64 is drawn from the population,the probability that the sample mean is between 860 and 875 is _______.

• A) 0.9544
• B) 0.6826
• C) 0.8785
• D) 0.5899
• E) 0.8185

Develop concise and precise problem and purpose statements for business reports.

Comprehend the sequential steps involved in the report writing process following problem identification.

Gather, organize, and critically evaluate information for business reports.

Understand the necessity of reports in business and how report types and frequency vary based on job roles and organizational context.

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Definitions:

Test Average

The mean score obtained by an individual or group on a series of examinations or tests.

Average Variable Cost

The variable cost per unit of output.

Average Variable Cost

The variable costs associated with production, when divided by the number of units produced, indicate the cost per unit.

Marginal Cost

The cost of producing one additional unit of a good or service, an important concept in economics for determining the optimal level of production.