A Single Numerical Value Used as an Estimate of a Population

question 90

Multiple Choice

A single numerical value used as an estimate of a population parameter is known as a

• A) parameter.
• B) population parameter.
• C) mean estimator.
• D) point estimate.

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Definitions:

FASB

The Financial Accounting Standards Board is an independent organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States.

Franchise

A license that allows the franchisee to access a business's proprietary knowledge, processes, and trademarks to allow the party to sell a product or provide a service under the business's name.

Product Development

The complete process of bringing a new product to market, from idea generation to commercialization.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.