The Local Amusement Park Was Interested in the Average Wait

question 45

Multiple Choice

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.) . They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stop watch to record the time they spent in line. The times recorded were as follows (in minutes) (mean = 114.15) :
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118

-What is the variance?

• A)103
• B)23.62
• C)557.97
• D)128.8
• E)115

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Definitions:

Depreciation Expense

The method of distributing the expense of a physical asset across its serviceable duration, accounting for depreciation or becoming outdated.

Depreciation

The method of allocating the cost of a tangible asset over its useful life.

Sarbanes-Oxley Act

A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures, following major financial scandals.

Financial Reports

Documents that detail the financial health and performance of a business, including balance sheets, income statements, and cash flow statements.