In a Simple Random Sample of 144 Households in a City

question 43

Multiple Choice

In a simple random sample of 144 households in a city in Kentucky, the average number of children in these households was 1.12 children. The standard deviation from this sample was 2.40 children. A 90 percent confidence interval for the mean number of children in all households in this city is:

• A) 2.40 ± 0.2.
• B) 1.12 ± 0.2.
• C) 1.12 ± 2.40.
• D) 1.12 ± 0.328.
• E) It is impossible to tell without a census.

Explain the implications of not having legal union representation for groups of employees.

Understand the legal framework and key provisions of the National Labor Relations Act (NLRA) regarding union elections and workers' rights.

Recognize the role and decisions of the National Labor Relations Board (NLRB) in facilitating fair representation elections and protecting workers’ rights.

Identify factors influencing employees' decisions to vote for or against union representation.

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Definitions:

Optimal Transfer Price

The price that should be charged for goods or services transferred between divisions of the same company to maximize overall company profit.

Cost Components

The elements that make up the total cost of a product or service, such as materials, labor, and overhead.

Flexible Budgets

Budgets that adjust or flex with changes in volume or activity levels of a business.

Static Budget

A budget based on a set level of activity and does not change in response to changes in business activity levels during the budget period.