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Basic Question 0 of 7
Mileage tests were conducted on a randomly selected sample of 100 newly developed automobile tires. The average tread wear was found to be 50,000 miles with a standard deviation of 3,500 miles. What is the best estimate of the average tread life, in miles, for the entire population of these tires?
B. (3,500/100)
C. (50,000/100)
A. 50,000
B. (3,500/100)
C. (50,000/100)
User Contributed Comments 5
| User | Comment |
|---|---|
| 8thlegend | I spent 10 mins figuring out how to do this. Then i realized that this was the first question and wasted 10 mins of my life. |
| thekid | 8thlegend---> 10minutes + the time it took you to post up your comment in regards to this "first question" lol..i'm going insane. |
| Ktrain | 10 minutes + the 250 hours studying for this test |
| 2014 | Sample represents population, The purpose of picking up sample serves the estimation of same results. U cannot do research on entire population of tyres. So u have selected a sample. Now, sample results u would rely to predict information. There is no choice or this is best choice to estimate |
| JMORALES | haha |
I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2025 Level I Curriculum, Volume 1, Module 1.