A Sample of Size 20 Is Selected at Random from a Population

question 47

True/False

A sample of size 20 is selected at random from a population of size N.If the finite population correction factor is 0.9418,then N must be 169.

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Definitions:

Standard Price

A predetermined price established by a company for a product or service, used for budgeting and cost control purposes.

Unfavourable Variances

Unfavourable Variances are cost or revenue variances that indicate a business is performing worse than its budgeted or planned figures.

Cost of Goods Sold

The total cost of manufacturing and delivering a product to a consumer, including raw materials, labor, and other direct costs associated with production.

Credit Entry

An accounting entry that increases a credit account or decreases a debit account, representing the source of funds or value entry in a financial transaction.