Larry sells sweatshirts at football games.The quantity supplied to him is sometimes less than he ordered.The probability distribution below shows the probability of these shortages.
Simulate the average number of shortages for 15 consecutive orders, using the following single digit random numbers: 1, 6, 8, 3, 4, 5, 7, 0, 3, 8, 9, 3, 2, 4, 2.
Definitions:
Sarbanes-Oxley Act
A federal law established in 2002 aimed at improving corporate governance and financial reporting to protect investors from fraudulent practices by corporations.
Report On Internal Control
A document that outlines the effectiveness of a company's internal controls over financial reporting.
Price-Earnings Ratio
A metric used to evaluate the relative value of a company's shares, calculated as the market value per share divided by earnings per share.
Vertical Analysis
A method in financial statement analysis where each entry for the three major categories (assets, liabilities, and equity) in a balance sheet is represented as a proportion of the total account.
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