Bill and Bob Share Profits of Their Partnership in the Ratio

question 57

Multiple Choice

Bill and Bob share profits of their partnership in the ratio of 6:1 respectively.If the net income of the firm is $29,000,calculate the share of Bill's net income.

• A)$20,714
• B)$4,143
• C)$29,000
• D)$24,857

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Definitions:

Interval Length

Interval length refers to the distance or difference between the lower and upper boundaries of an interval in mathematics or statistics.

Bootstrap Interval

A type of statistical interval estimate used to estimate the distribution of a statistic by resampling with replacement from the data.

BCa Interval

Bias-Corrected and accelerated interval, a type of confidence interval used in statistics to provide a range that is likely to contain the true population parameter, accounting for bias and skewness in the bootstrap distribution.

Bootstrap Distribution

A method in statistics for estimating the sampling distribution of an estimator by resampling with replacement from the original sample.