A sample of 144 cans of coffee showed an average weight of 32 ounces. The standard deviation of the population is known to be 1.4 ounces
a. Construct a 68.26% confidence interval for the mean of the population.
b. Construct a 97% confidence interval for the mean of the population.
c. Discuss why the answers in Parts a and b are different.
a. 31.88 to 32.12 ounces
b. 31.75 to 32.25 ounces
c. As the level of confidence increases, the confidence interval becomes wider.
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While hiking in a national park, Gustavo found an injured wolf. He took the wolf home and nursed it back to health over the course of six months
Gustavo found the wolf to be "man's best friend," with a calm and receptive demeanor; however, one day while visiting Gustavo, Felicia was severely injured when it attacked her. If Felicia sues Gustavo for her injuries, what is the most likely outcome of the case? A) Gustavo is not liable to Felicia, since he was a "Good Samaritan" in rescuing the animal. B) Gustavo is not liable to Felicia, since he had domesticated the animal. C) Gustavo is liable to Felicia for an intentional tort, since he purposefully brought the inherently dangerous animal home. D) Gustavo is liable to Felicia for a strict liability tort, since he kept a non-domesticated animal at his home.
Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes?
A) job scheduling B) production levels C) cash budgeting D) capital expenditures E) purchasing
Which of the following statements about the use of risk-based capital requirements is (are) true?
I. Insurers must have a certain amount of capital depending on the riskiness of their investments and insurance operations. II. Insurers may be required to take certain actions depending on how much capital they have relative to their risk-based capital requirements. A) I only B) II only C) both I and II D) neither I nor II
An ocean carrier is liable for its failure to use due diligence in providing a seaworthy ship at the beginning of the voyage
Indicate whether the statement is true or false