The librarian at the New York City Public Library has asked her assistant for an interval estimate of the mean number of books checked out each day. The assistant took a sample and found the mean to be 880 books. She provides the librarian with an interval estimate of between 790 and 970 books checked out per day. An efficient, unbiased point estimate of the number of books checked out each day
at the New York City Public Library is:
a. 790 c. 90
b. 880 d. None of these choices.
B
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If the interest rate is positive, then the future value of an annuity due will be greater than the future
value of an ordinary annuity. Indicate whether the statement is true or false
In year 1 a contractor agrees to build a building for $2,500,000 by the end of year 2. The builder's cost is estimated to be $1,800,000. The actual costs year 1 are $900,000 and year 2's actual costs are $1,100,000. Under the percentage of completion method year 2's gross profit is
A. $700,000. B. $350,000. C. $500,000. D. $150,000.
Fresplanade Co. had the following historical collection pattern for its credit sales:
75% collected in the month of sale 10% collected in the first month after month of sale 8% collected in the second month after month of sale 5% collected in the third month after month of sale 2% uncollectible The sales on open account (credit sales) have been budgeted for the last six months of the year as shown below: July: $78,000 August: $90,000 September: $102,000 October: $114,000 November: $126,000 December: $108,000 The estimated total cash collections by Fresplanade Co. during December from accounts receivable is:
What is a user-defined procedure?
What will be an ideal response?