Exhibit 81

question 86

Multiple Choice

Exhibit 8.1.The ages of MBA students at a university are normally distributed with a known population variance of 10.24.Suppose you are asked to construct a 95% confidence interval for the population mean age if the mean of a sample of 36 students is 26.5 years. Refer to Exhibit 8.1.What is the margin of error for a 95% confidence interval for the population mean?

• A)1.645(3.20/6)
• B)1.645(10.24/6)
• C)1.96(3.20/6)
• D)1.96(10.24/6)

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Definitions:

Vacation Travel

encompasses both the planning and actual experience of personal travel for leisure or recreation purposes.

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both fixed and variable manufacturing overhead - in the cost of a product.

Nonmanufacturing Costs

Expenses that are not directly tied to the production of goods, including selling, general, and administrative expenses.

Predetermined Overhead Rate

An estimated rate used to assign manufacturing overhead costs to products, based on a planned level of activity or volume of production.