Suppose a Certain Population Was Reported in the News as Being

question 27

Multiple Choice

Suppose a certain population was reported in the news as being 60% Republican.You take a random sample of 100 people from this population and find that 67% of your sample is Republican.What can you conclude about the news report, based on your sample results?

• A)You can't say they are wrong; your results are within the expected limits for a sample this size.
• B)A sample of size 100 is never large enough to make any conclusions either way about an entire population.
• C)You can say they are wrong because your sample results are too far away from what was reported in the news.
• D)None of the above.

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Definitions:

Fair Value

The amount expected to be gained from the sale of an asset or expended in relocating a liability during a planned interaction with market entities at the time of assessment.

Heifers

Young female cattle that have not yet born a calf, often raised for beef or kept for breeding purposes.

AASB 116

This Australian Accounting Standards Board standard pertains to Property, Plant, and Equipment, covering its recognition, measurement, and disclosure.

IAS 16

International Accounting Standard that prescribes the accounting treatment for property, plant, and equipment.