How Many Observations Should Be Made If He Wants to Be

question 3

Multiple Choice

How many observations should be made if he wants to be 95.44 percent confident that the maximum error in the observed time is one second? The standard deviation of task times is 5 seconds.

• A) 5
• B) 10
• C) 25
• D) 100
• E) 121

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Definitions:

Transactions Affect

Refers to the impact that business transactions have on the financial statements, altering the balances of accounts.

Time Period

In accounting, a specific duration for which financial statements are prepared, commonly a month, quarter, or year.

Unearned Revenues

Money received for services or products that have yet to be delivered or performed; recognized as a liability until the revenue is earned.

Liability Account

An account on a company's balance sheet that represents debts or obligations that the business needs to pay off in the future.