Estimating the Mean from Grouped Data Will Tend to Be

question 50

Multiple Choice

Estimating the mean from grouped data will tend to be most accurate when:

• A)observations are distributed uniformly within classes.
• B)there are few classes with wide class limits.
• C)the sample is not very large and bins are wide.
• D)the standard deviation is large relative to the mean.

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Definitions:

GAAP

Generally Accepted Accounting Principles; the common set of accounting standards and procedures used in the U.S. to compile financial statements.

Revenue Recognition

A principle within accounting that determines the specific conditions under which revenue is recognized or accounted for.

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