A Researcher Is Using a Random Numbers Table to Pick

question 3

Multiple Choice

A researcher is using a random numbers table to pick between two groups labeled X and Y. X is to be chosen with probability 5/7 and Y with probability 2/7. The researcher
Assigns the digits 1, 2, 3, 4, and 5 to X, and she assigns the digits 6 and 7 to Y. The
Remaining digits are neglected. The researcher uses this section of a random number table
7 9 2 1 5 7 7 3 1 1
What are the first and second choices?

• A) The first selection is X, and the second is X.
• B) The first selection is Y, and the second is Y.
• C) The first selection is Y, and the second is X.
• D) The first selection is X, and the second is Y.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that serve as a global framework for financial statements.

Nonmonetary Asset Exchanges

Nonmonetary Asset Exchanges involve transactions where companies trade assets other than cash, such as property, plant, and equipment, without involving monetary payments.

U.S. GAAP

United States Generally Accepted Accounting Principles, a set of accounting rules used for financial reporting.

Book Value

The net value of a company's assets found on its balance sheet, often compared to its market value.