Round the Point Estimate to the Nearest Thousandth

question 90

Multiple Choice

Round the point estimate to the nearest thousandth
-Find the point estimate of the proportion of people who wear hearing aids if, in a random sample of 493 people, 40 people had hearing aids.

• A) 0.081
• B) 0.075
• C) 0.919
• D) 0.079

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Definitions:

Selling and Administrative Expense

The aggregated total of all expenses associated with selling a company's products and services, as well as managing the day-to-day operations.

Variable Expense

Costs that vary in direct proportion to changes in levels of activity or production volume.

Fixed Expense

Fixed expense refers to costs that do not fluctuate with changes in production level or sales volume.

Master Budget

A comprehensive financial planning document that includes all of a company’s budgets, projecting its financial activities over a specific period.