For a New Product,you Need to Determine the Average Diameter

question 21

Multiple Choice

For a new product,you need to determine the average diameter of a specialized electronic component,which will be a critical component of the new product.You measure the diameter in a sample of size 15 and find an average diameter of 0.24 mm,with a standard deviation of 0.02 mm.Other studies indicate that the diameter of similar products is normally distributed.The 99% confidence interval for the average diameter of this electronic component is ______.

• A) 0.232 to 0.248
• B) 0.230 to 0.250
• C) 0.228 to 0.252
• D) 0.226 to 0.254
• E) 0.224 to 0.256

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Definitions:

Prisoner's Dilemma

A concept in game theory where two individuals acting in their own self-interest do not produce the optimal outcome for either party.

International Trade

The exchange of goods and services across international borders or territories, which involves the import and export activities between different countries.

Antidumping Actions

A class of protective tariffs imposed by a domestic government on foreign imports that are thought to be priced below fair market value.

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries by making foreign products more expensive compared to local ones.