A Sample Size of 500 Is Sufficiently Large Enough to Conclude

question 83

True/False

A sample size of 500 is sufficiently large enough to conclude that the sampling distribution of is a normal distribution,when the estimate of the population proportion is .995.

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Definitions:

Direct Labor-hours

The total hours of labor directly involved in manufacturing a product or providing a service, typically used as a basis for allocating overhead costs.

Manufacturing Overhead

All indirect costs associated with manufacturing, like utility costs for the factory, depreciation of manufacturing equipment, and factory management salaries.

Fixed Manufacturing Overhead

Costs in the manufacturing process that do not change with production volume, such as rent for the factory, salaries of permanent staff, and insurance.

Direct Labor-hours

The total hours worked directly on goods or services by employees, used to allocate labor costs to products or jobs.