THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 133

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Each member of a random sample of 20 business economists was asked to predict the rate of inflation for the coming year.Assume that the predictions for the whole population of business economists follow a normal distribution with standard deviation 2%.
-The probability is 0.025 that the sample standard deviation is smaller than what value?

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Definitions:

Equipment Account

A ledger account that records transactions related to the purchase, maintenance, and sale of equipment.

Consolidation

The process of combining the financial statements of a parent company and its subsidiaries into one comprehensive financial statement.

Goodwill

A non-physical asset that occurs when a business purchases another business at a cost exceeding the fair market value of its identifiable net assets.

Business Combination

A transaction or other event in which an acquirer obtains control of one or more businesses, which can be achieved through acquisitions, mergers, or consolidations.