If We Were Interested in Predicting the Tourism Revenue for a Particular

question 21

Multiple Choice

If we were interested in predicting the tourism revenue for a particular country that had 30 million foreign visitors

• A) We should construct a confidence interval using this equation.
• B) We should construct a predication interval using this equation.
• C) We should not use this equation because it is not significant.
• D) We should use the correlation.
• E) We should use the standard error.

---

Definitions:

Wages Paid

This refers to the total amount of remuneration paid by an employer to an employee, including salaries, commissions, and bonuses, for work performed during a specific period.

Unearned Revenue

Income received by a business for goods or services yet to be provided; considered a liability until the service or product is delivered.

Recognizes Revenue

The process of recording revenue in the financial statements when it is earned and realizable, following the accrual accounting principle.

Total Assets

The sum of all resources owned by a company, measured in terms of monetary value, as listed on the balance sheet.