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In evaluating the following generalization(s), identify sample, population, attribute of interest, and the extent to which the claims involved are knowable. Consider carefully the size and diversification of the sample and the extent to which the population differs or may differ from the sample; remember, what's important is that the sample be representative.
A New York newspaper stopped theatergoers as they exited from a performance of La Tragédie de Carmen and asked them whether they thought that Broadway theater was better or worse than it was ten years ago. When the majority of the respondents answered that they thought it was worse, the paper printed an article with the headline "Public Thinks Broadway Is Going Downhill." Does the poll justify the headline?
Office Furniture
Fixed assets consisting of desks, chairs, tables, cabinets, and other furnishings used in an office environment.
Variable Utilities Cost
Expenses for utilities that change in proportion to the level of production or activity of a business.
High-low Method
The high-low method is a straightforward way to estimate the variable and fixed components of a cost by using the highest and lowest activity levels and the corresponding total costs.
Machine Hour
A unit of measurement that represents an hour of operation of a machine or equipment.
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