A Researcher Records the Number of Votes for Each of Five

question 55

Multiple Choice

A researcher records the number of votes for each of five candidates running for class president.Based on her presentation of the following results,what type of statistics did she use?

• A)inferential statistics
• B)descriptive statistics
• C)population statistics
• D)deceptive statistics

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Definitions:

Lower-of-Cost-or-Market

An accounting principle requiring inventory to be recorded at either its cost or its market value, whichever is lower.

FIFO

A method of inventory valuation where goods first purchased or produced are assumed to be sold or used first, standing for "First In, First Out".

LIFO

Last-In, First-Out (LIFO) is an inventory valuation method whereby the most recently produced or acquired items are sold, used, or disposed of first.

Cost Flow Assumptions

Methods used to assign costs to inventory and goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).