What is the margin of error? Explain how to interpret a “10% margin of error.”
What will be an ideal response?
Margin of error is half of a confidence interval, converted into a percentage of the value being estimated. A 10% margin of error means that product of the critical z or t and the standard error is 10% of the mean. For example, if the mean was 10, the margin of error would be 1 point –if we were to assume 10 to be the population mean, 95% of sample means would fall between 9 and 11.
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Failure to record inventory in the proper period can affect all of the following accounts except:
A. prepaid Expenses. B. sales. C. receivables. D. cost of Goods Sold.
Kenneth wants to start a new business. To get start-up capital, he takes a short-term loan from a bank. The bank agrees to provide him the agreed-upon funds as per a legally binding commitment. However, the bank requires Kenneth to pay interest on any fund he borrows and a commitment fee based on the unused amount of funds. Which of the following short-term financing sources does Kenneth utilize to fund his business in the given scenario?
A. Factoring B. Commercial paper C. Trade credit D. Revolving credit agreement
A manufacturer of a prescription-only blood pressure medication uses sales reps to call on doctors to explain the benefits and side effects of the drugs. The pharmaceutical reps also provide the doctor with samples to give to patients. The manufacturer of the drug is using a _____ strategy.
A. reinforcement B. push C. pull D. kinetic E. interval
When demand is independent, it is not related to demand for other components or items produced by the firm
Indicate whether the statement is true or false