A Sample of Size $n = 21$ Is Drawn from a Normal Population

question 12

Multiple Choice

A sample of size $n = 21$ is drawn from a normal population. Find the critical value needed to construct a $90 \%$ confidence interval.

• A) 1.721
• B) 1.645
• C) 1.725
• D) 1.325

---

Definitions:

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, used for managing liquidity and ensuring a company can meet its obligations.

Budgeted Cash Receipts

An estimation of the cash a company expects to receive within a certain period, based on projected sales or revenue.

Budgeted Cash Disbursements

An estimate of the total amount of cash an organization plans to pay out over a specified period, including operating expenses and purchase of assets.

Direct Labor Budget

A financial plan that estimates the cost of direct labor required to meet production goals.