Given an Infinite Population with a Mean of 75 and a Standard

question 80

Multiple Choice

Given an infinite population with a mean of 75 and a standard deviation of 12,the probability that the mean of a sample of 36 observations,taken at random from this population,is less than 78 is:

• A)0.9332
• B)0.5987
• C)1.5000
• D)None of these choices.

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Definitions:

Economic Sacrifice Approach

An accounting method focusing on recognizing expenses based on the economic sacrifices made, rather than when cash transactions occur.

Current Cost

The cost that would be incurred to replace an asset or settle a liability at the current time.

Useful Life

The estimated duration of time that an asset is expected to be usable for its intended purpose.

Imputed Interest Charge

An estimated interest rate used in transactions where no interest or an unrealistic interest rate is charged.