The Professor of a Business Statistics Class Wanted to Find

question 121

True/False

The professor of a business statistics class wanted to find out the mean amount of time per week her students spent studying for the class.Among the 50 students in her class,20% were freshmen,50% were sophomores and 30% were juniors.She decided to select 2 students randomly from the freshmen,5 randomly from the sophomores and 3 randomly from the juniors.This is an example of a systematic sample.

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Definitions:

Tenant-Days

A measure used in the hospitality or rental sector representing the total number of days rented out to tenants.

Spending Variance

The difference between the actual amount spent and the budgeted amount for a particular period.

Facility Expenses

Costs associated with the physical locations, such as rent, utilities, and maintenance, where a business operates.

Planning Budget

A budget created at the beginning of the budgeting period that is based on planned outputs and efficiency levels for that period.