Average Annual Revenue Suppose That the Average Annual Revenue of a Small

question 61

Essay

Average Annual Revenue Suppose that the average annual revenue of a small business is $150,000 with a standard deviation of $40,000. Assume that the revenue distribution is normal. {Average Annual Revenue Narrative} Could you have used a normal distribution to find an (approximate)probability for the average of 4 revenues if the population of revenues did not have a normal distribution?

---

Definitions:

Deductive Reasoning

Logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.

General Conclusion

A final statement or judgment that summarizes the outcomes or findings of a discussion, analysis, or study.

Faulty Logic

A flawed reasoning pattern that leads to incorrect conclusions, often due to invalid premises or logical fallacies.

Persuasive Messages

Communications crafted to influence the attitudes, beliefs, or behaviors of the audience.