The Sample Size Needed to Estimate a Population Mean to Within

question 80

Multiple Choice

The sample size needed to estimate a population mean to within 50 units was found to be 97.If the population standard deviation was 250,then the confidence level used was

• A)90%
• B)95%
• C)99%
• D)None of these choices.

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Definitions:

Revenues

The total income generated from normal business operations, including sales of goods or services before any expenses are deducted.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value over time.

Accounts Receivable

Accounts receivable refers to the money owed to a business by its customers for goods or services delivered on credit but not yet paid for.

Net Income

A metric indicating the amount of earnings left after the subtraction of all expenses, including taxes and operating expenses, reflecting a company's profitability.