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vova2212 [387]
3 years ago
14

In a sample of 800 students in a university, 160, or 20%, are Business majors. Based on the above information, the school's pape

r reported that "20% of all the students at the university are Business majors." This report is an example of _________.
Business
1 answer:
polet [3.4K]3 years ago
4 0

Answer:

<u>Statistical Inference</u>

Explanation:

Sampling refers to a form of statistical analysis wherein some items from the whole population are selected for analysis, the results of which would represent the collective result had all the observations been selected and subjected to analysis.

Sampling risk is inversely related to the size of the sample.  Higher the sample size, more accurate would be the results and thus lesser the sampling risk.

In the given case, the sample size is 800 students. The results derived from the analysis of the said sample have been construed to be true for all the students of the university which includes those students which did not form part of the sample size.

This is referred to as statistical inference as sampling being a statistical tool.

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babysits on the weekends for extra money. Suppose that three neighbors with children are interested in paying Elizabeth to babys
kolbaska11 [484]

Answer:

$15

Explanation:

Consumer surplus is the price the consumer pay for good/service minus the amount the consumer is willing to pay for it.

✓Mr. and Dr. Brown would be willing to pay ​$31

✓Mr. Smith would be willing to pay ​$28

✓Professor Jones and Mr. Jones would be willing to pay ​$22

Elizabeth PRICE for babysitting each set of children for an evening = $22

Consumer surplus= Σ (price that the consumer is willing to pay- Price of the good/service is sold)

= [(31-22)+(28-22)+(22-22)]

= 9+6+0

=$15

Hence, Consumer surplus is $15

8 0
3 years ago
An auditor ordinarily sends a standard confirmation request to all banks with which the entity has done business during the year
Virty [35]

Answer:

A. seek information about loans from the banks.

Explanation:

A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.

Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.

An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.

An auditor ordinarily sends a standard confirmation request to all banks with which the entity it is auditing has done business during the year under audit, regardless of the year-end balance. One purpose of this procedure is to seek information about loans from the banks so as to examine and verify the amount that was loaned by the bank to the business entity, as well as comparing the figures (values) to that on the balance sheet.

3 0
3 years ago
What is State Farm's Promise of Customer Satisfaction on recycled sheet metal?
MakcuM [25]

The State Farm's Promise of Customer Satisfaction on recycled sheet metal is for at least as long as the OEM would have warranted its new replacement part. Thus 2nd option is correct.

<h3>What is Customer satisfaction?</h3>

Customer Satisfaction refers to the fulfillment of the needs and the desire of the customer by making the product as per there requirement. It is the measurement of the how much the customer is satisfied with the product.

In the above case, the State Farm provides the services to the customer by selling the metal sheets. They had promised the customer for providing the original equipment manufactured to be replaced with the new till the life span of the metal sheets.

Thus the correct option is 2nd.

Learn more about the Customer satisfaction here:

brainly.com/question/15298944

#SPJ1

3 0
2 years ago
Cosmos company on july 15 sells merchandise on account to cajon co. for $6,000, terms 2/10, n/30. on july 20 cajon co. returns m
faust18 [17]
On July 15, there is pending 6000 on the cash account.

Then on July 20, Cajon Co. returns the merchandise of 1000, so the pending cash decreases and now it is only 5000.

Afterwards, on July 24, Cajon paid for the merchandise. Since the credit terms is 2/10, 2 percent discount will be given if they paid within 10 days. So 5000 multiplied by . 02 = 100. 5000 - 100 = $4900 is the amount of cash received.
8 0
3 years ago
An example of an operational risk would be if a business were unable to meet
shtirl [24]

Answer:

An example of an operational risk would be if a business were unable to meet

its sales orders because of the death of the company president

Explanation:

When death incur from the owner or incharge of such business it might affect the operations of such businesses but if all other factors has been put in place, it would enable the business to carry on even when the owner is dead.

4 0
3 years ago
Read 2 more answers
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