Suppose the Population of All Public Universities Shows the Annual

question 79

Multiple Choice

Suppose the population of all public Universities shows the annual parking fee per student is $110 with a standard deviation of $18.If a random sample of size 49 is drawn from the population,the probability of drawing a sample with a mean of more than $115 is _______.

• A) 0.9738
• B) 0.4738
• C) 0.0262
• D) 0.6103
• E) 0.1103

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Definitions:

Bottom-Up Budgeting

A budgeting method where the budget is created with input from lower-level employees, leading up to a total company budget.

Extrapolation

The process of estimating, beyond the original observation range, the value of a variable on the basis of its relationship with another variable.

Previous Year's Budget

The financial plan containing income and expenditure for the prior year, used as a reference or benchmark for current financial planning.

Forecasting

The process of predicting future events, trends, and behaviors based on historical data and analysis.