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Ridge Company is in the process of determining its reportable segments for the year ended December 31, 20X8. As the person responsible for determining this information, you gather the following information:
Required:
a) Using the appropriate tests, determine which of the industry segments listed above are reportable for 20X8. Show your supporting computations in good form.
b) Indicate whether or not Ridge's reportable segments satisfy the 75 percent test. Show your supporting computations in good form.
Interval Estimate
An assortment of values, from sample statistics, which is envisioned to contain the value of a mysterious population parameter.
Population Mean
The average value of all elements in a complete set of a population.
Population Standard Deviation
A measure of the dispersion or spread of a set of data points in a population dataset.
Confidence Interval
A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter with a certain level of confidence.
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