Recently,six Single-Family Homes in San Luis Obispo County in California

question 8

Multiple Choice

Recently,six single-family homes in San Luis Obispo County in California sold at the following prices (in $1,000s) : 549,449,705,529,639,609.Find a 95% confidence interval for the mean sale price in San Luis Obispo County.

• A) [485.34,674.66]
• B) [489.90,670.10]
• C) [508.46,651.54]
• D) [476.30,683.70]

---

Definitions:

Perpetual Inventory System

An accounting method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Sales Revenue

The total income received by a company from its sales of goods or services, before any expenses are subtracted.

FIFO

An inventory valuation method where goods first purchased or produced are the first to be sold, standing for First-In, First-Out.

Perpetual Inventory System

A perpetual inventory system is a method of accounting for inventory that records sales and purchases of goods in real-time through an inventory management system, offering accurate and up-to-date stock levels.