Given a Sample Mean of 12

question 34

Multiple Choice

Given a sample mean of 12.5-drawn from a normal population, a sample of size 25, and a sample variance of 2.4-find a 99% confidence interval for the population mean.

• A) [11.7019, 13.2981]
• B) [11.1574, 13.8426]
• C) [11.6334, 13.3666]
• D) [11.7279, 13.2721]

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Definitions:

Profits

The financial gain realized when the revenues of a business exceed the costs and expenses related to its operation.

Losses

The negative difference between the cost of investment and its current value or selling price.

Leverage

In finance, the use of borrowed funds to increase investment potential or, in a broader sense, using a small initial investment to gain a high return.

Short-term Obligations

Financial liabilities or debts that are due to be paid within a short period, typically within a year, such as accounts payable or short-term loans.