Sample Size $= 256$ , Sample Mean $= 40$ , Sample Standard Deviation

question 51

Multiple Choice

Sample size $= 256$ , sample mean $= 40$ , sample standard deviation $= 13$
What is the $95 \%$ confidence interval for the population mean?

• A) \(39.2 < \mu < 40.8\)
• B) \(38.4 < \mu < 41.6\)
• C) \(39.9 < \mu < 40.1\)
• D) \(8 < \mu < 18\)

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Definitions:

Perpetual Inventory

A continuous tracking system for inventory that records the sale or purchase of inventory in real-time through the use of computerized systems.

Accounts Payable

Debts of a company reflecting the money owed to lenders or suppliers for products and services acquired on credit.

Inventory

All products and materials that a company holds, aimed at either resale or being incorporated into manufacturing processes.

FOB Shipping Point

A term of sale indicating that the buyer assumes responsibility for shipping costs and risk of loss once the seller has delivered the goods to the shipping carrier.