Every spring semester, the School of Business coordinates with local business leaders a luncheon for graduating seniors, their families, and friends. Corporate sponsorship pays for the lunches of each of the seniors, but students have to purchase tickets to cover the cost of lunches served to guests they bring with them. Data on the number of guests each graduating senior invited to the luncheon from 500 graduating seniors last year were collected. Based on this information, which of the following will you construct to learn about the percentage of seniors who will bring at least one guest to the luncheon?
A) Confidence interval estimate for the total using the Student's t distribution
B) Confidence interval estimate for the difference between two means using the standard normal distribution
C) Confidence interval estimate for the mean using the Student's t distribution
D) Confidence interval estimate for the proportion using the standard normal distribution
Question 2
An insurance company evaluates many variables about a person before deciding on an appropriate rate for automobile insurance. A representative from a local insurance agency selected a random sample of 15 insured drivers and recorded the amount of claims each made in the last 3 years. Based on this information, which of the following will you construct to learn about the mean amount of claims made by the company's customer?
A) Confidence interval estimate for the proportion using the standard normal distribution
B) Confidence interval estimate for the mean using the standard normal distribution
C) Confidence interval estimate for the difference between two means using the standard normal distribution
D) Confidence interval estimate for the mean using the Student's t distribution
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