In Estimating the Sample Size Necessary to Estimate π, If

question 63

Multiple Choice

In estimating the sample size necessary to estimate π, if there is no good approximation for the value of P available, the value of ___ should be used as an estimate of π in the formula.

• A) 0.10
• B) 0.50
• C) 0.40
• D) 1.96
• E) 2.00

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Definitions:

IASB/FASB Boards

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are organizations that develop and promulgate accounting standards.

Enhancing Characteristics

Qualitative aspects of financial information that make it more useful for decision making, including comparability, verifiability, timeliness, and understandability.

Financial Information

Data concerning the financial status, performance, and changes in financial position of an entity that is useful to a wide range of users in making economic decisions.

Conceptual Framework Project

A systematic approach to developing a set of concepts that guide the creation, interpretation, and application of financial reporting and accounting standards.