According to a Survey of the Top 10 Employers in a Major

question 258

Multiple Choice

According to a survey of the top 10 employers in a major city, a worker spends an average of 413 minutes a day on the job. Suppose the standard deviation is 26.8 minutes and the time spent is approximately a normal distribution.
-According to Chebyshev's Theorem,at least what percentage of measurements in a data set will be within 2.5 standard deviations of the mean?

• A)16%
• B)40%
• C)68%
• D)60%
• E)84%

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Definitions:

Conceptual Framework

A theoretical structure that outlines the objectives and fundamentals of financial reporting to guide the development of accounting standards.

Income

Increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

Gains

Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, other than those related to contributions from equity participants.

Significant Risks

Major threats or uncertainties that could potentially impact an entity's operations, financial performance, or reputation significantly.