THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 81

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Chebyshev's theorem is used to approximate the proportion of observations for any data set,regardless of the shape of the distribution.Assume that a distribution has a mean of 255 and standard deviation of 20.
-Approximately what proportion of the observations is between 195 and 315?

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Definitions:

Ending Inventory

Represents the final stock of goods available for sale by a firm at the close of an accounting period.

Beginning Inventory

The value of a company’s inventory at the start of an accounting period, carried over from the end of the previous period.

Accrued Expense

Expenses that have been incurred but not yet paid for or recorded through a formal invoicing system, recognized in the period they are incurred rather than when paid.