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The principal at Thomas Jefferson High School has been asked to estimate the proportion of students at KHS who drive to school and use the school parking lot. He takes a random sample of size n = 32 students and calculates a sample proportion, p = 0.8. "Now," he exclaims, "since my sample size is greater than 30, the sampling distribution of the sample proportion is approximately normal." Write a short paragraph that explains why his statement is not correct.
Credit Period
The time frame allowed by a seller to a buyer to pay for goods or services received, usually expressed in days.
Operating Cycle
The duration of time it takes for a company to buy inventory, sell it, and convert the sale back into cash. It reflects the efficiency of a company's inventory management and sales processes.
Inventory Cycle
The inventory cycle involves the process from purchasing goods for inventory to selling them to customers, and is key in determining the efficiency of a company's inventory management.
Credit Terms
The conditions under which credit will be extended to a borrower, including the repayment schedule and interest rates.
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