The State Agriculture Department Tested 203 Fuel Samples Across the State

question 68

Multiple Choice

The state agriculture department tested 203 fuel samples across the state in 2009 for accuracy of the reported octane level.For premium grade,14 out of 105 samples failed.How many samples would be needed to create a 99 percent confidence interval that is within 0.02 of the true proportion of premium grade fuel-quality failures?

• A) 4148
• B) 2838
• C) 1913
• D) 744
• E) 54

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Definitions:

Accounting Cycle

The sequence of steps followed in the accounting process to record and summarize financial transactions throughout a period and prepare financial statements.

Journalizing Transactions

The process of recording business transactions in the journal as part of the accounting process.

Correcting Entries

Journal entries made to correct errors found in the financial statements.

Adjusting Entries

Journal entries made in accounting to record revenues earned and expenses incurred that are not yet recorded through standard accounting transactions.