A Study of 45 Professors Showed That the Average Time

question 38

Multiple Choice

A study of 45 professors showed that the average time they spent creating test questions was 15.5 minutes per question. The standard deviation of the population is 5.8. Which of the following is the 98% confidence interval for the average number of minutes it takes to create a test question?

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Definitions:

Taxes

Mandatory financial charges or levies imposed by a government on individuals, entities, or transactions to fund government spending and various public expenditures.

Futures Position

An investment strategy involving contracts for the purchase or sale of assets at a future date at a price specified today.

Closed Out

The process of finalizing all positions in a security or contract, effectively ending all obligations or engagements in those positions.

Hedge

An investment position intended to offset potential losses or gains that may be incurred by a companion investment, a common risk management strategy.