The Sampling Distribution of the Sample Proportion Is Approximately Normal

question 2

True/False

The sampling distribution of the sample proportion is approximately normal provided that np ≥ 5 and nq ≥ 5

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Definitions:

Fixed Expenses

Regularly occurring costs that remain constant in total regardless of changes in activity within a relevant period.

Contribution Margin

The difference between a company's sales revenue and its variable costs, serving as a measure of the profitability of individual products.

Monthly Unit Sales

The total number of units of a product sold by a company in a given month, often used to track sales trends and forecast demand.

Variable Costs

Costs that vary directly with the level of production or output, such as raw materials and direct labor expenses.