If the Computed Minimum Sample Size N Needed for a Particular

question 80

Multiple Choice

If the computed minimum sample size n needed for a particular margin of error is not a whole number, round the value of n ________ (up or down) to the next ________ (smaller or larger) whole number.

• A) up; smaller
• B) down; larger
• C) up; larger
• D) down; smaller

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Definitions:

Incurred Expenses

Costs that have been realized or consumed, typically through the operation of a business.

Net Income

The total earnings of a company after deducting all expenses, including taxes and costs, from its total revenues, indicating its profitability.

Generally Accepted Accounting Principles

A set of standards, principles, and procedures that guide the accounting practices and financial reporting in the U.S.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income.