How Many Spaces Should Be Provided to Have a 96

question 7

Multiple Choice

How many spaces should be provided to have a 96% probability of accommodating all of the waiting cars?

• A)10
• B)11
• C)12
• D)13
• E)14

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Definitions:

Direct Method

An accounting practice of allocating support department costs directly to producing departments without consideration for interdepartmental services.

Sales Adjusted

Adjustments made to recorded sales figures for returns, allowances, or discounts to determine the actual net sales amount.

Cash Basis

An accounting method recognizing revenues and expenses when cash is actually received or paid out, rather than when earned or incurred.

Selling and Administrative Expense

Expenses related to the selling of products and the management of the business, not directly tied to production.