Given the Same Set of Data for a Population and Sample,would

question 28

Multiple Choice

Given the same set of data for a population and sample,would the mean for both data sets be equal?

• A) No, the population mean would be larger.
• B) No, the sample mean would be larger.
• C) Yes, but only if the sample size equaled the population size.
• D) Yes, this would be true anytime both data sets are the same.

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Definitions:

Spending Variance

The difference between the actual amount spent and the budgeted or planned amount in a given period.

Planning Budget

A budget prepared for a specific level of activity, used for planning and controlling costs and resources in advance.

Travel Expenses

Costs incurred by an employee or a business when travelling for business purposes, which can include accommodations, meals, transportation, and other expenses.

Spending Variance

The difference between the actual amount spent and the budgeted or expected amount, used in budgeting and financial planning.