SCENARIO 7-4 According to a Survey,only 15% of Customers Who Visited the Visited

question 93

Short Answer

SCENARIO 7-4
According to a survey,only 15% of customers who visited the web site of a major retail store made a purchase.Random samples of size 50 are selected.
-Referring to Scenario 7-4,90% of the samples will have more than what percentage of customers who will make a purchase after visiting the web site?

---

Definitions:

Debits

An accounting entry that increases an asset or expense account, or decreases a liability or equity account, recorded on the left side of the ledger.

Credits

Credits are accounting entries that increase liabilities or equity accounts, or decrease asset or expense accounts.

Trial Balance

A list of all general ledger accounts and their balances at a particular time, ensuring that debits equal credits in the double-entry accounting system.

Normal Balances

The side (debit or credit) of an account that is expected to have a higher balance given the account type's role in accounting.