As a General Rule in Computing the Standard Error of the Sample

question 132

Multiple Choice

As a general rule in computing the standard error of the sample mean,the finite population correction factor is used only if the:

• A)sample size is smaller than 5% of the population size.
• B)sample size is greater than 5% of the sample size.
• C)sample size is more than half of the population size.
• D)None of these choices.

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Definitions:

Accumulated Depreciation

The total depreciation that has been recorded for an asset over its useful life.

Gain On Sale

The profit earned from the sale of an asset above its book value.

GAAP

A set of widespread accounting rules and standards, referred to as Generally Accepted Accounting Principles, used for financial reporting.

Fair Value

The estimated market value of an asset or liability, reflecting the amount at which it could be bought or sold in a current transaction between willing parties.