A Pharmaceutical Company Wanted to Estimate the Population Mean of Monthly

question 111

Multiple Choice

A pharmaceutical company wanted to estimate the population mean of monthly sales for their 250 sales people. Forty sales people were randomly selected. Their mean monthly sales were $10,000 with a standard deviation of $1,000. Construct a 95% confidence interval for the population mean.

• A) [9,690.1, 10,309.9]
• B) [9706.3, 10293.7]
• C) [8,040, 11,960]
• D) [8,000, 12,000]
• E) [9,000, 11,000]

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Definitions:

Cooperation and Competition

Social processes; cooperation involves working together towards a common goal, while competition involves rivalry between individuals or groups for resources or achievements.

Prisoner's Dilemma

A hypothetical game in game theory that demonstrates why two individuals might not cooperate, even if it appears that it is in their best interest to do so.

Diffusion of Responsibility

The tendency for individuals to feel less accountable for their actions or inaction when others are present, often leading to reduced help or intervention.

Cognitive Dissonance

The mental discomfort experienced by a person who holds two or more contradictory beliefs, ideas, or values at the same time.