In a probability sample, _____
a. every unit has an equal or known chance of being chosen for study
b. every unit studied is chosen by the researcher based on judgment or convenience
c. data are selected for use by the researcher based on their relevance
d. data cannot be extrapolated due to unknown sampling error
a
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A company estimates that warranty expense will be 5% of sales. The company's sales for the current period are $206,000. The current period's entry to record the warranty expense is:
A. Debit Warranty Expense $10,300 credit Sales $10,300. B. Debit Estimated Warranty Liability $10,300 credit Warranty Expense $5380. C. Debit Warranty Expense $10,300 credit Estimated Warranty Liability $10,300. D. Debit Estimated Warranty Liability $10,300 credit Cash $10,300. E. No entry is recorded until the items are returned for warranty repairs.
Jones buys a life insurance policy from Liberty Insurance Company. The policy is designed to pay Smith the sum of $100,000 upon Jones's death. The policy is an example of ________
A) a no-competition clause B) the parol evidence C) a third-party beneficiary contract D) an assignment of rights
_____________ are situations that can stop a project in its tracks.
a. Teams b. Managers c. Constraints d. Risks
How much time is a customer expected to spend waiting in line and being checked out?
The local grocery store consists of two cashiers. The customers arrive at the checkout according to the Poisson distribution and the service times are based on negative exponential distribution. The average customer service time is 4 minutes and the average time between the arrivals of successive customers is 3 minutes. Assume that customers equally divide themselves between the two cashiers.