Compute a 98% Confidence Interval for the Population Variance When

question 72

Multiple Choice

Compute a 98% confidence interval for the population variance when the sample variance is 20 for a sample of 10 items from a normal population.

• A)8.308 to 86.207
• B)7.476 to 77.512
• C)8.617 to 78.125
• D)7.755 to 70.313

---

Definitions:

Aggregate Planning

A process in operations management aiming to determine an optimal production plan to meet fluctuating demand in the medium term while minimizing costs.

Subcontracting

The practice of assigning part of the obligations and tasks under a contract to another party, often to specialize in particular tasks or save on costs.

Inventory

Describes the goods and materials that a business holds for the ultimate goal of resale or production.

Overtime

Additional hours worked beyond the standard working hours, often resulting in higher pay rates.