A Local Company Makes a Candy That Is Supposed to Weigh

question 7

Multiple Choice

A local company makes a candy that is supposed to weigh 1.00 ounces.A random sample of 25 pieces of candy produces a mean of 0.996 ounces with a standard deviation of 0.004 ounces.Construct a 98 percent confidence interval for the mean weight of all such candy.

• A) [0.9645,1.0275]
• B) [0.9956,0.9964]
• C) [0.9860,1.0060]
• D) [0.9940,0.9980]
• E) [0.9942,0.9978]

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Definitions:

Asset Account

Accounts used in accounting to track the resources owned by a company that have future economic value.

Accounts Receivable

Amounts due from customers to a firm for goods or services supplied but still unpaid.

Chart of Accounts

A structured list of all accounts used by a business, organized by type, used for organizing financial transactions and preparing financial statements.

Expense Account

An account used to record the costs incurred by a business in the process of generating revenue, excluding direct materials and direct labor expenses.