The Sample Mean of a Variable Is Found to Be

question 42

Multiple Choice

The sample mean of a variable is found to be 35.7. The true population mean of that variable was known to be 40.2. What is the sampling error of the variable?

• A) 4.20
• B) 9.00
• C) 4.50
• D) 2.25

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Definitions:

Sales Revenue

Money a company makes from its merchandise sales or services rendered.

Service Charge Expense

Service charge expense refers to fees charged for specific services provided, often recognized as an expense in accounting records.

Accounts Receivables

Sums due to a company from its clients for products or services provided but not yet compensated for.

Factor

A financial intermediary that purchases receivables from businesses, providing them with immediate cash flow.