When Constructing a Confidence Interval for a Population Mean,if a Population

question 76

Multiple Choice

When constructing a confidence interval for a population mean,if a population is normally distributed and a small sample is taken,then the distribution of is based on the ____________ distribution.

• A) z
• B) t
• C) neither the z nor the t distribution
• D) both the z and the t distribution

---

Definitions:

Tourist Demand

The quantity of tourism products and services that tourists are willing and able to purchase at different prices during a time period.

Price Discrimination

A pricing strategy where a company sells the same product or service at different prices to different customers, based on factors like willingness to pay, market segment, and purchase location.

Increase Profits

Increase Profits means enhancing the financial gain left after subtracting the expenses from the total revenues, aiming for a higher bottom line through various strategies like reducing costs or increasing sales.

Lower Total Costs

Achieving a reduction in the aggregate amount of expenditures necessary for production or provision of services.