In a Study of the Paperwork Required to File for a Product

question 76

Multiple Choice

In a study of the paperwork required to file for a product patent, the US Patent Office selected a random sample of 1500 applicants who applied for a patent during the past five years.The study found the average time applicants in the sample took to fill out the required forms was 28.4 hours, with a sample standard deviation of 5.7 hours.Use sample results to build a 95% confidence interval estimate of the average time taken filling application forms for the population of all patent applicants during this five-year period.Show the upper bound for your interval.

• A)31.4
• B)28.69
• C)25.26
• D)22.41
• E)33.52

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Definitions:

Financial Statements

Reports that summarize the financial performance and position of a business, including the balance sheet, income statement, and cash flow statement.

Current Ratio

A measure used to evaluate a company’s liquidity and short-term debt-paying ability; computed by dividing current assets by current liabilities.

Vertical Analysis

A financial statement analysis method where each entry for each category is listed as a percentage of a base figure within the statement.

Horizontal Analysis

A financial analysis technique that compares line items in financial statements over different periods to identify trends.