Use the Normal to Model the Distribution of Sample Means

question 19

Multiple Choice

Use the Normal to model the distribution of sample means.
-Grandma Gertrude's Chocolates, a family owned business, has begun making a new
Line of chocolates with high levels of cacao so it can advertise its health benefits of
Antioxidants. The product with the highest % cacao at Grandma Gertrude's Chocolates
Averages 45% cacao with a standard deviation of 6 %. Suppose a sample of 36 pieces of
This chocolate is taken from the production line. What is the standard deviation of the
Sampling distribution of the sample mean?

• A) 1%
• B) 0.5%
• C) 10%
• D) 0.1%
• E) 5%

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Definitions:

Revenue Account

An account that records the income generated from selling goods or providing services, which contributes to a company's gross income.

Income Summary

An account used during the closing process to summarize the year's revenues and expenses before determining and transferring the period's net income or loss to owner's equity.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.