Determine Whether the Evaluated Group Is a Population or a Sample

question 117

Multiple Choice

Determine whether the evaluated group is a population or a sample.
-A health and fitness club surveys 40 randomly selected members and finds that the average weight of those
Questioned is 157 lb.

• A)Population
• B)Sample

---

Definitions:

FOB Destination

A shipping term indicating that the seller is responsible for the goods until they reach the specified destination and have been delivered.

Consignment

A business arrangement where goods are left in the possession of an authorized third party to sell, but the title to the goods remains with the seller until sold.

Inventory Count

The physical verification of the quantities and condition of items in a company's inventory.

FIFO

This inventory management and valuation method assumes that the oldest products are sold or used first; an acronym for "First In, First Out," detailing a specific approach to inventory and asset management.