What Is T_α/2,df for a 99% Confidence Interval of the Population

question 117

Multiple Choice

What is t_α/2,df for a 99% confidence interval of the population mean based on a sample of 25 observations?

• A) 2.492
• B) 2.576
• C) 2.787
• D) 2.797

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Definitions:

Minimum Required Rate

Often refers to the minimum rate of return that an investment must offer to be considered viable or the minimum acceptable compensation for delay or risk.

Revenue Variance

The difference between how much the revenue should have been, given the actual level of activity, and the actual revenue for the period. A favorable (unfavorable) revenue variance occurs because the revenue is higher (lower) than expected, given the actual level of activity for the period.

Activity Measure

An allocation base in an activity-based costing system; ideally, a measure of whatever causes the costs in an activity cost pool.

Average Actual Selling Price

The mean price at which goods or services have been sold, calculated over a specific period or volume of sales.