$$\mathrm { N } = 24,000 , \mathrm { n } = 400 , \mathrm { p } = 0.7$$

question 23

Multiple Choice

$$\mathrm { N } = 24,000 , \mathrm { n } = 400 , \mathrm { p } = 0.7$$

• A) Approximately normal; \(\mu _ { \mathrm { p } } = 0.7 , \sigma \mathrm { p } = 0.023\)
• B) Exactly normal; \(\mu _ { \mathrm { p } } = 0.7 , \sigma _ { \mathrm { p } } = 0.023\)
• C) Approximately normal; \(\mu _ { \mathrm { p } } = 0.7 , \sigma _ { \mathrm { p } } = 0.0935\)
• D) Binomial; \(\mu _ { \mathrm { p } } = 280 , \sigma _ { \mathrm { p } } = 9.17\) Provide an appropriate response.

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Definitions:

Operating Cycle

The period it takes for a business to purchase inventory, sell products, and convert the sales back into cash, essentially measuring the time span from buying raw materials to receiving cash from sales.

Inventory Turnover Rate

A measure of how quickly a company sells and replaces its stock of goods within a given period, indicating the efficiency of its inventory management.

Opportunity Cost

The expense associated with foregoing the next most favorable option when a choice is made.

Restrictive Policy

Policies or conditions imposed by lending institutions or governments that limit certain activities or operations to reduce risk.