In N = 25 Games Last Season,the College Basketball Team

question 2

Multiple Choice

In N = 25 games last season,the college basketball team averaged µ = 76 points with a standard deviation of σ = 6.In their final game of the season,the team scored 89 points.Based on this information,the number of points scored in the final game was _____.

• A)a little above average
• B)far above average
• C)above average, but it is impossible to describe how much above average
• D)There is not enough information to compare last year with the average.

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Definitions:

Accrued Expense

An accounting term referring to an expense that has been incurred but not yet paid, leading to an accounts payable.

Prepaid Expenses

Costs that are paid in advance for goods or services to be received in the future, recognized as assets on the balance sheet.

Journal Entries

Recorded transactions in the accounting records of a business, detailing the financial activities and their impact on various accounts.

Unearned Revenue

Money received by an entity for services or goods yet to be delivered or performed; it is recorded as a liability until the service or goods are delivered.