If We Were to Graph the Relationship of Sample Size

question 29

Multiple Choice

If we were to graph the relationship of sample size (x axis) to sample accuracy (y axis) ,we would notice that:

• A)there is a linear relationship between size and accuracy.
• B)accuracy increases quickly,up to about sample size 500,and then accuracy levels off with relatively small gains made even when sample size is increased to as much as 2,000.
• C)accuracy increases quickly,up to about sample size 5,000,and then accuracy levels off with relatively small gains made even when sample size is increased to as much as 200,000.
• D)accuracy increases quickly,up to about sample size 50,and then accuracy levels off with relatively small gains made even when sample size is increased to as much as 100.
• E)We cannot graph sample size and accuracy because we must also include the level of confidence and the variability within the sample data.

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Definitions:

Average Collection Period

The mean period required for a company to get payment from its clients.

Finance Charges

Fees representing the cost of credit or the cost of borrowing, including interest and transaction fees.

Accounts Receivable

Money owed to a company by its customers for goods or services already delivered but not yet paid for.

maturity Value

The amount that will be received at the maturity or expiration date of an investment, representing the principal plus interest.