The Average Natural Gas Bill for a Random Sample of 21

question 81

Multiple Choice

The average natural gas bill for a random sample of 21 homes in 19810 zip code during the month of March was $311.90 with a sample standard deviation of $51.60.The 90% confidence interval around this sample mean is _______.

• A) [$285.98,$337.82]
• B) [$292.46,$331.34]
• C) [$278.09.$345.71]
• D) [$266.82,$356.98]

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Definitions:

Macropolicy

Broad, large-scale government policies aimed at managing and improving the overall economy.

Conventional Monetary Policy

Monetary policy actions involving the adjusting of the policy interest rate to influence economic conditions such as inflation and growth.

Monetary Growth

The increase in the money supply in an economy over a period of time, which can affect inflation, interest rates, and economic growth.

Budget Surpluses

Occurs when a government, company, or individual receives more income than it spends over a specified period, leading to excess funds.