A Sample of Size 60 Was Selected from a Population

question 33

Multiple Choice

A sample of size 60 was selected from a population with a variance of = 121.It was found,based upon the data obtained,that the sample mean = 174.What is the 98% confidence interval estimate for ?

• A)174 ± 2.33
• B)174 ± 2.33
• C)174 ± 2.33
• D)174 ± 2.58
• E)174 ± 2.58

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Definitions:

Adjusting Entry

An accounting entry made at the end of an accounting period to allocate income and expenditure to the appropriate period, ensuring that financial statements adhere to the accrual basis of accounting.

Recorded

The process of documenting financial transactions in accounting records or journals.

Adjusting Entries

Journal entries made in accounting records to correct or update financial transactions, often at the end of an accounting period.

Prepaid

Expenses paid in advance for goods or services, which are then recognized over time as the benefits are received.