If a Group of Researchers Find That the Number of Books

question 55

True/False

If a group of researchers find that the number of books 5^th graders read is positively correlated with their scores on an intelligence test, it would be correct to conclude that having children read more increases their intelligence.

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Definitions:

Weighted-Average Method

A method of costing inventory that determines the cost of goods sold and the closing inventory by averaging the cost of all items available for sale throughout the period.

Ending Inventory

The worth of merchandise on hand for purchase at the conclusion of a financial period.

Equivalent Units

Equivalent units are a calculation in process costing that converts partially completed units into a number of equivalent fully completed units.

Weighted-Average Method

A cost flow assumption used in inventory valuation and process costing that smooths out price variations by averaging the costs.