Find the Indicated Probability or Percentage for the Sampling Error

question 38

Multiple Choice

Find the indicated probability or percentage for the sampling error.
-Scores on a biology final exam are normally distributed with a mean of 220 and a standard deviation of 24. Determine the percentage of samples of size 9 that will have mean scores within 12
Points of the population mean score of 220.

• A)86.64%
• B)13.36%
• C)93.32%
• D)38.30%

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Definitions:

Acid-test Ratio

A financial metric that measures a company's ability to cover its short-term liabilities with its most liquid assets, excluding inventory.

Debt-to-equity Ratio

The debt-to-equity ratio is a financial leverage ratio that compares a company's total liabilities to its shareholder equity, indicating how much the company is financing its operations through debt versus wholly owned funds.

Receivable Turnover

Receivable turnover is a financial ratio that measures how efficiently a company collects its accounts receivable, calculated by dividing net credit sales by average accounts receivable.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating efficiency in managing stock levels.