As king of medivalia, you are constantly strapped for funds to pay your army. your chief economic wizard suggests the following plan: "when you collect your tax payments, insist on being paid in gold coins. take these gold coins, melt them down, and remint them with an extra 10 percent of brass thrown in. you will then have 10 percent more money than you started with." what do you think of the plan? do you see any problems with it?
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as king of medivalia, you are constantly strapped for funds to pay your army. your chief economic wizard suggests the following plan: "when you collect your tax payments, insist on being paid in gold coins. take these gold coins, melt them down, and remint them with an extra 10 percent of brass thrown in. you will then have 10 percent more money than you started with."

597

step-by-step explanation:

d. 24+-0.114

step-by-step explanation:

the question requires us to calculate the approximate 95% confidence interval for the mean number of ounces of ketchup per bottle in the sample given the following statistics;

sample mean = 24

standard deviation, σ = 0.4

sample size , n = 49

the confidence interval for a population mean is calculated using the formula;

sample mean ± z-score*(σ/sqrt(n))

the z-score associated with a 95% confidence interval, from the standard normal tables, is;

1.96

substituting these values into the formula;

24 ± 1.96*(0.4/7)

= 24 ± 0.112

from the alternatives given, choice d is closest to the above expression;