$$\text { Reference: 12-11 }$$ The Millard Division's Operating Data for the Past Two Years

question 47

Multiple Choice

$$\text { Reference: 12-11 }$$ The Millard Division's operating data for the past two years are provided below: $$\begin{array} { | l | l | l | } \hline & \text { Year 1 } & \text { Year 2 } \\\hline \text { Return on investment } & 12 \% & 36 \% \\\hline \text { Stockholders' equity } & \$ 800,000 & \$ 500,000 \\\hline \text { Net operating income } & ? & \$ 360,000 \\\hline \text { Turnover } & ? & 3 \\\hline \text { Margin } & ? & ? \\\hline \text { Sales } & 3,200,000 & ? \\\hline\end{array}$$ Millard Division's margin in Year 2 was 150% of the margin in Year 1.
-The average operating assets for Year 2 were?

• A)$1,000,000.
• B)$1,200,000.
• C)$1,080,000.
• D)$1,388,889.

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Definitions:

Descriptive Statistic

A brief summary statistic that quantitatively describes or summarizes features from a collection of information.

Data Set

A collection of data, often presented in tabular form, where each row represents a different individual or entity and each column represents a particular variable or attribute.

Population Subset

A smaller group selected from a larger population, used in statistical analysis to draw conclusions or make inferences about the greater population.

Inferential Statistics

A branch of statistics that allows us to make predictions or inferences about a population based on a sample of data.