Answer:
represent the sample mean
represent the sample deviation
n = 68 represent the sample size
Since the sample size is large enough n>30 we have enough evidence to conclude that the normal approximation for the sample mean makes sense. And the distribution for the sample mean would be given by:
Explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The central limit theorem states that "if we have a population with mean μ and standard deviation σ and take sufficiently large random samples from the population with replacement, then the distribution of the sample means will be approximately normally distributed. This will hold true regardless of whether the source population is normal or skewed, provided the sample size is sufficiently large".
Solution to the problem
For this case we have the following data given:
represent the sample mean
represent the sample deviation
n = 68 represent the sample size
Since the sample size is large enough n>30 we have enough evidence to conclude that the normal approximation for the sample mean makes sense. And the distribution for the sample mean would be given by:
Answer:
The answer is C
Explanation:
we are given that a company starts with 900 units which are 35% complete that means during the production period they are completed, then we are further told that 5000 units are started and completed therefore we add the 900 units we started with with the 5000 units that are started and completed during the period then we are told that at the end of the process 800 units are still in process and 25% completed there fore we add the 25% of 800 units to the 5900 units that are completed therefore we calculate the equivalent units produced by the department as follows:
900 units + 5000 units + 800 units x 25% = 6100 units that are completed on a weighted average method.
Answer:
A
Explanation:
Gross profit = total sales - total cost of sales
Answer:
B. Natural barriers cannot prevent the entry of new firms.
Explanation:
Natural barriers cannot prevent the entry of new firms as firms should be free to enter and exit the industry. Every firm's actions or dealings influence the profits of all the other firms.
Answer:
FV= $772
Explanation:
Giving the following information:
Initial investment (PV)= $850
Interest rate (i)= 3.5% = 0.035
Number of periods (n)= 5 years
<u>To calculate the future value (FV), we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 650*(1.035^5)
FV= $772
