After Reviewing Past History, You Have Assembled the Following Table

question 34

Multiple Choice

After reviewing past history, you have assembled the following table showing the frequency of certain levels of sales over the past 40 months. If the largest random number used to represent sales of 300 units is 1.00, what will be the smallest number used to represent sales of 300 units?
$$\begin{array} { | c | r | l | } \hline \text { Sales (units) } & \text { Frequency } & \text { Corregonding Randam Numbers } \\\hline 100 & 12 & \\\hline 150 & 6 & \\\hline 200 & 8 & \\\hline 250 & 4 & \\\hline 300 & 10 & ? ? \leq x \leq 1\\\hline\end{array}$$

• A) 0.1000
• B) 0.3000
• C) 0.5000
• D) 0.6500
• E) 0.7500

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Definitions:

Budgeted Beginning Inventory

The estimated value or quantity of inventory that a company plans to have on hand at the start of a period.