A Greenhouse in a Tri-County Area Has Kept Track of Its

question 51

Multiple Choice

A greenhouse in a tri-county area has kept track of its customers for the last several years and has determinedthat it has about 10,000 regular customers. Of those customers, 28% of them plant a vegetable garden in thespring. The greenhouse obtains a random sample of 800 of its customers. Is it safe to assume that the sampling^distribution of p, the sample proportion of customers that plant a vegetable garden, is approximately normal?

• A) Yes
• B) No

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels.

Revenue Variances

The difference between actual revenue and budgeted or expected revenue, analyzed to understand and manage financial performance.

Spending Variances

Spending variances are the differences between the actual amount spent and the budgeted or planned amount, often analyzed to control and manage expenses better.

Activity Variance

The difference between the budgeted cost for an activity level and the actual cost incurred, indicating deviations from planned performance.