A Researcher Is Interested in Estimating the Mean Weight of a Semi

question 6

Multiple Choice

A researcher is interested in estimating the mean weight of a semi tracker truck to determine the potential load capacity.She takes a random sample of 17 trucks and computes a sample mean of 20,000 pounds with sample standard deviation of 1,500.The 95% confidence interval for the population mean weight of a semi tracker truck is ______________.

• A) 19,232 to 20,768
• B) 19,365 to 20,635
• C) 19,229 to 20,771
• D) 19,367 to 20,633
• E) 119.89 to 122.12 18,500 to 21,500

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Definitions:

Marginal Revenue Product

The supplementary earnings derived from the utilization of an additional production factor unit.

Marginal Revenue Product

The additional income generated from selling one more unit of a good or service, calculated as the extra revenue produced by the marginal unit of output.

Optimal Use

Optimal use refers to the most efficient way to employ resources to achieve the highest level of satisfaction or output.

Marginal Revenue Product (MRP)

The additional revenue generated by employing one more unit of a resource or factor of production.