A Random Sample of 30 Households Was Selected from a Particular

question 103

Multiple Choice

A random sample of 30 households was selected from a particular neighborhood.The number of cars for each household is shown below.Estimate the mean number of cars per household for the population of households in this neighborhood.Give the 95% confidence interval. $$\begin{array} { l l l l l l l l l l } 2 & 0 & 1 & 2 & 3 & 2 & 1 & 0 & 1 & 4 \\1 & 3 & 2 & 0 & 1 & 1 & 2 & 3 & 1 & 2 \\1 & 0 & 0 & 0 & 5 & 2 & 2 & 1 & 0 & 2\end{array}$$

• A)(1.5,2)
• B)(1,2)
• C)(1.5,1.7)
• D)(1.3,1.7)
• E)(0.9,2.1)

Understand the relevance of cost, volume, and profit analysis in pricing and production decisions.

Discern the various pricing strategies, including cost-plus pricing and price skimming, and their applications.

Appreciate the significance of capacity considerations in product costing and bidding processes.

Understand the concept and importance of relevant information in accounting decision-making.

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Definitions:

Interest Payments

Payments made to lenders as compensation for borrowing money, typically calculated as a percentage of the principal.

Debt

An amount of money borrowed by one party from another, often used to make large purchases that are not affordable with available cash.

Times Interest Earned

A financial ratio that measures a company's ability to meet its interest payments on outstanding debt.

Quick Ratio

A measure of a company's ability to meet its short-term obligations with its most liquid assets, without relying on inventory.