If a Research Group Plans to Conduct a Survey Poll

question 13

Multiple Choice

If a research group plans to conduct a survey poll about an upcoming presidential election in the United States, what is a best guess regarding the minimum percentage of all likely voters that will be needed to obtain a reasonably accurate estimation of voter opinion, assuming that a random sample is obtained?

• A) 2 percent
• B) 20 percent
• C) 50 percent
• D) 80 percent

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Definitions:

Weighted Average Method

An inventory costing method that assigns an average cost to each item based on the total cost of goods available for sale and the number of items available.

Equivalent Units

A concept used in process costing that converts partially completed units into a number of complete units with regards to work done or costs incurred.

Beginning Inventory

The value of a company's inventory at the start of an accounting period.

Weighted Average Method

An inventory costing method that calculates cost of goods sold and ending inventory based on the weighted average cost of all items available for sale.