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SCENARIO 8-8
The president of a university would like to estimate the proportion of the student population that owns a personal computer.In a sample of 500 students,417 own a personal computer.
-Referring to Scenario 8-8,a confidence interval estimate of the population proportion would only be valid if the distribution of the number of students who own a personal computer is normal.
Preparation of the Budget
Preparation of the budget involves planning and drafting a detailed financial plan that estimates the income and expenditures for a specific period in the future.
Treasurer
An executive responsible for managing a company's investments, cash flow, financial planning, and related records.
Master Budget
A comprehensive financial planning document that consolidates all of a company's individual budgets relating to sales, cost of goods sold, operations, and capital expenditures into one overarching budget.
Sales Budget
A financial plan that estimates the expected sales revenue for a period, including units sold and revenue expected.
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