A Company Has Determined That the Mean Number of Days

question 25

Multiple Choice

A company has determined that the mean number of days it takes to collect on its accounts receivable is 36 with a standard deviation of 11 days. The company plans to select a random sample of n = 12 accounts and compute the sample mean. Which of the following statements holds true in this situation?

• A) There is no way to determine what the mean of the sampling distribution is without knowing the specific shape of the population.
• B) The sampling distribution will have the same distribution as the population, provided that the population is not normally distributed.
• C) The sampling error will be larger than if they had sampled n = 64 accounts.
• D) The sampling distribution may actually be approximately normally distributed depending on what the population distribution is.

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Definitions:

Gamification

The application of game-design elements and principles in non-game contexts to enhance engagement, motivation, and participation.

Discriminate

To make a distinction in favor of or against a person or thing based on the group, class, or category rather than according to actual merit; can also refer to the ability to perceive and distinguish differences.

Communication Process

The series of steps through which information is transmitted and received between senders and receivers.

Technology

The application of scientific knowledge for practical purposes, especially in industry and everyday life.