A Study Is Going to Be Conducted in Which a Mean

question 80

Multiple Choice

A study is going to be conducted in which a mean of a lifetime of batteries produced by a certain method will be estimated using a 90% confidence interval.The estimate needs to be within +/- 2 hours of the actual population mean.The population standard deviation is estimated to be around 25.The necessary sample size should be at least _______.

• A) 100
• B) 21
• C) 923
• D) 35
• E) 423

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Definitions:

Strategic Objective

A clearly defined goal that a company aims to achieve in the long term, guiding its direction and business decisions.

Lagging Indicators

Metrics that reflect the results of economic activities, showing changes after the economy has already begun to follow a particular pattern.

Leading Indicators

Economic factors that change before the economy starts to follow a particular trend, used to predict the future movements of an economy.

Strategic Initiatives

Action plans that management implements to achieve strategic objectives.