Which Branch of Statistics Would Employ Probability to Predict How

question 54

Multiple Choice

Which branch of statistics would employ probability to predict how many miles one would be able to drive a 2000 Toyota Celica during its lifetime?

• A) predictive statistics
• B) descriptive statistics
• C) inferential statistics
• D) differential statistics

---

Definitions:

Direct Write-Off Method

An accounting method where uncollectable accounts receivable are directly written off against income at the time they are deemed irrecoverable.

Adjusting Entry

An Adjusting Entry is a journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period, ensuring that the financial statements reflect accurate and fair values.

Dishonored Note

A dishonored note is a promissory note that has not been paid by the maker at its maturity date.

Direct Write-Off Method

An accounting method where bad debts are charged against income at the time they are deemed irrecoverable, rather than being anticipated in advance.