A Recent Survey Found That 63% of All Adults Over

question 99

Multiple Choice

A recent survey found that 63% of all adults over 50 wear glasses for driving. In a random sample of 20 adults over 50, what is the mean and standard deviation of the number who wear glasses? Round to the nearest hundredth when necessary.

• A) mean: 12.6; standard deviation: 2.16
• B) mean: 12.6; standard deviation: 3.55
• C) mean: 7.4; standard deviation: 2.16
• D) mean: 7.4; standard deviation: 3.55

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Definitions:

Perpetual Inventory System

An inventory management method where inventory levels are updated in real time with each sale or purchase transaction.

Gross Method

A method of recording purchases at the gross invoice amount before deducting any cash discounts.

Adjusted Trial Balance

A trial balance prepared after adjusting entries are made, used to verify the balance of debits and credits before generating financial statements.

Multiple-Step Income Statement

A detailed financial statement that divides revenue and expenses into separate categories, such as operating and non-operating sections, to highlight different aspects of business performance.