Under What Circumstances Should the Standard Normal Distribution Be Used

question 21

Multiple Choice

Under what circumstances should the standard normal distribution be used when employing the Mann-Whitney U test?

• A) When the sample sizes are equal from the two populations
• B) When the sample sizes are greater than 20
• C) When the populations are normally distributed
• D) You would never use the standard normal distribution.

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Definitions:

Inventory Shrinkage

Loss of products between purchase from a supplier and sale, often due to theft, damage, or errors.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate periods.

Periodic Inventory System

A method of inventory valuation for financial reporting purposes where a physical count of inventory is performed at specific intervals, and cost of goods sold is calculated at the end of the accounting period.

Merchandise Purchased

The total cost of goods bought for resale during a specific accounting period.