In an Examination of Purchasing Patterns of Shoppers,a Sample of 16

question 105

Multiple Choice

In an examination of purchasing patterns of shoppers,a sample of 16 shoppers revealed that they spent,on average,$54 per hour of shopping.Based on previous years,the population standard deviation is thought to be $21 per hour of shopping.Assuming that the amount spent per hour of shopping is normally distributed,find a 90% confidence interval for the mean amount.

• A) [$45.3637,$62.6363]
• B) [$47.2695,$60.7305]
• C) [$51.8409,$56.1591]
• D) [$52.3174,$55.6826]

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Definitions:

Rule-Of-Reason Analysis

A legal principle used in antitrust law that evaluates the reasonableness of a restrictive business practice based on its circumstances, purpose, and effect on competition, rather than deeming it illegal per se.

Quick-Look Analysis

A preliminary, expedited evaluation of a situation or set of data to gain an initial understanding and guide further in-depth analysis.

California Dental Association

A nonprofit organization representing the dental profession in California, dedicated to advancing the profession through education, advocacy, and member services.

Clayton Act

A U.S. antitrust law enacted in 1914 to promote competition and prevent unfair business practices in the marketplace.