In a Large Class, the Professor Has Each Person Toss

question 17

Multiple Choice

In a large class, the professor has each person toss a coin several times and calculate the proportion of his or her tosses that were heads.The students then report their results, and the professor plots a histogram of these several proportions.If the students toss the coin 80 times each, about 95% should have proportions between what two numbers?
Use the 68-95-99.7 Rule to provide the appropriate response.

• A)0.025 and 0.975
• B)0.39 and 0.62
• C)0.1118 and 0.1677
• D)0.4875 and 0.5125
• E)0.2375 and 0.7375

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Definitions:

Extraordinary Item

Unusual and infrequent gains or losses on a company's financial statements, not expected to recur in the foreseeable future, a concept that has been phased out in many accounting standards.

Income Statement

A report detailing a business's income and outgoings within a set timeframe, culminating in a final profit or loss.

Period Costs

Expenses recognized in the income statement in the period they are incurred, not directly tied to the production process and therefore not inventoriable.

Obsolete Inventory

Inventory items that are no longer sellable due to their obsolescence, such as outdated technology or fashion items, leading to potential write-offs.