From a Population That Is Not Normally Distributed and Whose

question 44

Multiple Choice

From a population that is not normally distributed and whose standard deviation is not known, a sample of 6 items is selected to develop an interval estimate for the mean of the population (μ) .

• A) The normal distribution can be used.
• B) The t distribution with 5 degrees of freedom must be used.
• C) The t distribution with 6 degrees of freedom must be used.
• D) The sample size must be increased.

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Definitions:

Ending Inventory

The closing stock value, determined at the end of a financial period, is the sum of the initial inventory and acquisitions, less the cost of goods sold.

Internal Control

Systems and processes designed by a company to ensure integrity and accuracy of financial and accounting information, promote accountability, and prevent fraud.

Inventory Storeroom

A storage area or space used for keeping goods or materials until they are sold or used in production.

Consignor

An entity that owns goods stored, shipped, or consigned to another party (the consignee) to sell.