Use the Information Above to Answer the Following Question

question 3

Multiple Choice

Use the information above to answer the following question.What is the amount of inventory purchases?

• A)$78,000
• B)$80,000
• C)$82,000
• D)$79,000

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Definitions:

Z-value

A uniform measure displaying the number of standard deviations a data point lies away from the average.

Binomial Proportions

The ratios that represent the outcomes of processes that follow binomial distribution, often involving two possible outcomes.

Population Mean

The average value of a population attribute, representing the central point of a data set for the entire population.

Random Sample

A subset of a statistical population in which each member has an equal chance of being chosen.