In a Random Sample of 200 Items, 5 Items Were

question 18

Multiple Choice

In a random sample of 200 items, 5 items were defective. An estimate of the percentage of defective items in the population is

• A) 5%.
• B) 2.5%.
• C) 20%.
• D) 10%.

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Definitions:

Note Receivable

A written promise that a certain amount of money will be paid at a future date, representing an asset for the holder.

Interest Revenue

Income earned by an entity from lending money or through investments in interest-bearing assets.

Deferred Revenue

Deferred Revenue is income a company has received for goods or services that have yet to be delivered or performed, recorded as a liability on the balance sheet.

Service Revenue

Income earned by a company through providing services as opposed to selling physical goods.