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Much of the recent euro currency crisis that struck Europe was attributed to the economy of Greece. George Papandreou, Greece's prime minister, claimed that corruption was at the heart of the crisis. Transparency International is a global civil organization that reports on worldwide corruption. The organization's research indicated that the average bribe to public service in Greece in 2013 was $1,596. To validate these findings, a random sample of 31 private sector transactions in 2013 was taken and each person was asked to report the amount of any bribe. The sample mean was equal to $1525 and the sample standard deviation was equal to $1209. Calculate the 90% confidence interval.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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