A Local University Administers a Comprehensive Examination to the Candidates

question 5

Essay

A local university administers a comprehensive examination to the candidates for B.S.degrees in Business Administration.Five examinations are selected at random and scored.The scores are shown below.

a.Compute the mean and the standard deviation of the sample.
b.Compute the margin of error at 95% confidence.
c.Develop a 95% confidence interval estimate for the mean of the population.Assume the population is normally distributed.

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Definitions:

Net Cash Flow

Net cash flow is the difference between a company's cash inflows and outflows over a specific period, providing insight into the company's liquidity and financial health.

Credit Sales

Sales for which payment is not received at the time of purchase but is instead deferred to a later date, often involving the use of credit terms.

Accounts Payable Period

The average amount of time it takes for a business to pay its invoices from suppliers and vendors, typically measured in days.

Cash Expenses

Outflows of cash within a certain period for operational activities, excluding non-cash expenses like depreciation.