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Narrative: Oranges
Suppose a shipment of oranges is advertised to weigh 5 pounds per bag.We know that not every bag can contain exactly 5 pounds of oranges.We decide to take a random sample of 100 bags of oranges and find out what they tell us about the population of all bags in this shipment.We are only interested in whether or not the bags are underweight, so each bag is weighed and counted as underweight if it weighs less than 5 pounds.Five bags in our sample of 100 were found to be underweight.
-{Oranges narrative} What is the margin of error for a 95% confidence interval for the proportion of bags in the shipment that are underweight?
Consolidated Statement
Financial reports consolidating the assets, liabilities, and income of a parent organization along with its subsidiary companies, showing them as a single entity.
Goodwill Impairment
A write-down of the value of goodwill on a company's balance sheet when the fair value of the acquired company falls below the value recorded at the time of acquisition.
Gross Profit
Income remaining after the cost of goods sold has been deducted from total sales revenue, before deducting any operating expenses.
Equity Method
An accounting technique used by companies to assess the profits earned by their investments in other companies, recognizing income based on the share owned.
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