There Are 2,000 Bicycles in a Community

question 20

Short Answer

There are 2,000 bicycles in a community.The owners of 1,250 of these bicycles also own locks for the bikes.A sample of 184 bicycles is chosen,and it just so happens that the proportion of bicycles in the sample that have locks is the same as that for the entire community.How many of the bicycles in the sample have locks?

Recognize the significance of the Internet and media convergence in contemporary society.

Comprehend the global distribution and access disparity of the Internet.

Analyze the role of media in shaping public perceptions and stereotypes.

Understand the impact of media ownership and media concentration on content and diversity.

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Definitions:

Equivalent Units

A concept used in cost accounting to express the amount of goods or services produced in terms of the number of complete units.

Materials

The raw items and components used in the production of goods.

Process Costing

An accounting methodology used for homogeneous products, attributing costs to units of product through an average or a similar method.

Conversion Costs

The combined costs of direct labor and manufacturing overhead expenses, representing the costs necessary to convert raw materials into finished goods.