From a Population of 200 Elements, the Standard Deviation Is

question 1

Multiple Choice

From a population of 200 elements, the standard deviation is known to be 14. A sample of 49 elements is selected. It is determined that the sample mean is 56. The standard error of the mean is _____.

• A) 3
• B) 2
• C) greater than 2
• D) less than 2

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Definitions:

Allowance for Doubtful Accounts

A reserve account used to estimate the amount of receivables that may not be collectible.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business, whichever is longer.

Allowance for Doubtful Accounts

A contra-asset account that represents the amount of accounts receivable a company does not expect to collect.

Accounts Receivable

The money owed to a business by its customers for goods or services that have been delivered or sold but not yet paid for.