Which of the Following Is an Incorrect Statement About a 90

question 18

Multiple Choice

Which of the following is an incorrect statement about a 90% confidence interval?

• A)If we repeatedly draw samples of the same size from the same population,90% of the resulting confidence intervals will include μ.
• B)There is a 90% probability that the population mean μ will lie between the lower confidence limit (LCL)and the upper confidence limit (UCL).
• C)We are 90% confident that our sample mean equals the population mean μ.
• D)90% of the population values will lie within the confidence interval.

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Definitions:

Revaluation Surplus

This is the increase in value of an asset after it has been appraised again and is recorded as a gain in equity under a company's financials.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.

Fair Value

The amount of money one would expect to obtain from selling an asset or the cost incurred to settle a liability, during a structured exchange between parties in the market, as of the valuation date.

Double-Declining-Balance

A method of accelerated depreciation that doubles the normal depreciation rate, reducing the book value of assets more quickly in the early years.