Given That the Population Standard Deviation Is 6

question 88

Multiple Choice

Given that the population standard deviation is 6.8, what sample size is required to be 90% confident that the estimated mean has an error less than 0.02?

• A) 312,761
• B) 189,859
• C) 175,987
• D) 152,083

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Definitions:

Conversion Rate

A metric used to measure the percentage of potential customers who take a specific desired action, often used in digital marketing.

Cost Per Equivalent Units

A method used in process costing that calculates the cost assigned to units produced during a period, considering partially completed units as fractions of whole units.

Weighted Average Method

An inventory valuation method that calculates the cost of goods sold and ending inventory balance using a weighted average of the costs of all items available for sale during the period.

FIFO Costing

An inventory valuation method that assumes that the first items placed in inventory are the first ones sold, standing for First In, First Out.