Suppose 60 Males Are Asked If They Recognize the Brand

question 73

Multiple Choice

Suppose 60 males are asked if they recognize the brand name,"Focus," and 35 of them correctly identify the product as a model of Ford's product line.The proportion of the sample who recognize this brand name is approximately ____.

• A).35
• B).58
• C).64
• D).79

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Definitions:

Perpetual Inventory System

An inventory management method that continuously updates the count and value of inventory, reflecting additions and subtractions in real-time.

FOB Shipping Point

An Incoterm indicating that the buyer assumes ownership and risk for goods at the point of departure from the seller's shipping location.

Credit Memo

A credit memo is a document issued by a seller to a buyer, reducing the amount that the buyer owes to the seller under previous transactions, often due to a return or a mistake.

Periodic Inventory System

An inventory tracking method where physical counts are performed at specific intervals to determine the cost of goods sold and ending inventory.