Ten Samples of a Process Measuring the Number of Returns

question 80

Multiple Choice

Ten samples of a process measuring the number of returns per 100 receipts were taken for a local retail store. The number of returns were 10, 9, 11, 7, 3, 12, 8, 4, 6, 11. Find the standard deviation of the sampling distribution. (Hint- Use p-bar formula)

• A) There is not enough information.
• B) .081
• C) 8.1
• D) .0273
• E) .0863

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Definitions:

Process of Entry

refers to the steps or actions that need to be taken for a new competitor to enter into an existing market.

Price

The financial expectation, obligation, or contribution made as payment for something.

Rational Criterion

A principle or standard used in decision-making processes that is based on logic, reason, and the anticipation of outcomes to achieve the most beneficial result.

Fixed Cost

Expenses that do not change with varying levels of production.