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A Researcher Is Using a Random Number Table to Pick 5/75 / 7

question 61

Multiple Choice

A researcher is using a random number table to pick between two groups labelled X and Y. X is to be chosen with a probability of 5/75 / 7 and Y with a probability of 2/7. The researcher assigns the digits {1, 2, 3,
4, 5} to X and the digits {6,7}\{ 6,7 \} to Y. The researcher uses this section of a random number table: 88591660908859166090 What are the first and second choices?

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Definitions:

Direct Write-off

A method for recognizing bad debt expense when a specific account receivable is determined to be uncollectible, directly reducing accounts receivable and recognizing the expense.

Bad Debt Expense

An accounting expense recognized for receivables that are no longer considered collectible, impacting both the balance sheet and income statement.

Uncollectible

Refers to debt or receivables that cannot be recovered or are very unlikely to be paid by debtors.

Percent of Sales Method

A financial analysis tool used to forecast future figures by assuming they will be a fixed percentage of sales volume.

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