Past Experience Indicates That the Variance in the Time It

question 37

Multiple Choice

Past experience indicates that the variance in the time it takes for a "fast lube" operation to actually complete the lube and oil change for customers is 9.00 minutes. The manager wishes to estimate the mean time with 99 percent confidence and a margin of error of ± 0.50 minutes. Given this, what must the sample size be?

• A) n = 239
• B) n = 2149
• C) n = 139
• D) n = 1245

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Definitions:

Direct Planning Assumptions

Fundamental assumptions that are explicitly stated and used as a base in the strategic planning and forecasting processes.

Financial Ratios

Financial Ratios are quantitative measures derived from a company's financial statements to assess its performance, efficiency, profitability, and financial health.

Dividend Payout Ratio

The portion of earnings a company pays to its shareholders in the form of dividends, expressed as a percentage of the company's total net income.

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to shareholders, often used for reinvestment in the business.