During a Natural Gas Shortage,a Gas Company Randomly Sampled Residential

question 132

Essay

During a natural gas shortage,a gas company randomly sampled residential gas meters in order to monitor daily gas consumption.On a particular day,a sample of 100 meters showed a sample mean of 250 cubic feet and a sample standard deviation of 50 cubic feet.Provide a 90% confidence interval estimate of the mean gas consumption for the population.

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Definitions:

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life evenly, resulting in equal depreciation expenses per year.

Fixed Asset Turnover Ratio

An efficiency ratio that measures a company's ability to generate net sales from its fixed-asset investments, such as property, plant, and equipment.

Asset Impairment Loss

A charge recognized when the carrying amount of an asset exceeds its recoverable amount, indicating the asset's value has declined.

Net Book Value

The value at which an asset is carried on a balance sheet, calculated as the original cost minus accumulated depreciation and impairment costs.