A Non-Profit Organization Is Interested in Identifying the Need for Subsidized

question 29

Essay

A non-profit organization is interested in identifying the need for subsidized childcare in a low-income neighborhood. They conduct phone interviews with 100 families who live there and find out that 25% of them need childcare.
a. What is the population of interest?
b. What is the sample?
c. Is their sampling technique a good way to represent the population of interest? Explain.
d. Is 25% a statistic or a parameter?

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Definitions:

Liability Until Earned

Liability Until Earned refers to revenue received in advance of being earned and is recorded as a liability on a company's balance sheet until the service or product is delivered.

Recorded As Revenue

The process of recognizing the amount of money earned from providing goods or services in the financial records during a specific accounting period.

Rental Period

The span of time for which a tenant agrees to rent an asset, such as property or equipment, from a landlord or lessor.

Adjusting Entry

Journal entries made at the end of an accounting period to update accounts for accruals and deferrals not recorded during the period.