When a population mean is unknown, people will often approximate it with the mean of a large
Question:
When a population mean is unknown, people will often approximate it with the mean of a large sample. Explain why this is justified.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
It is known from past experience that for students who studied AMA1110 for at least 100 hours, their chance of passing the exam is 0.95, while for those who studied AMA1110 for less than 100 hours,...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Python and most Python libraries are free to download or use, though many users use Python through a paid service. Paid services help IT organizations manage the risks associated with the use of...
-
Question 1 of 5 Which statement best illustrates Crusoe's reasons for teaching Friday about his religion? OA. He does not see Friday as a savage but as a soul worthy of saving. B. He thinks Friday...
-
Do the GM and Ford returns seem positively correlated? Do you notice any outlying returns? If yes," do outlying GM returns seem to occur with outlying Ford returns?
-
On January 1, 2020, Abbey acquires 90 percent of Benjamin's outstanding shares. Financial information for these two companies for the years 2020 and 2021 follows (credit balances indicated by...
-
Let A and B be events with P (A) = 0.4, P (B) = 0.5, and P (A or B) = 0.6. a. Compute P (A and B). b. Are A and B mutually exclusive? Explain. c. Are A and B independent? Explain.
-
You have $100 to invest. If you can earn 12% interest, about how long does it take for your $100 investment to grow to $200? Suppose the interest rate is just half that, at 6%. At half the interest...
-
An Agreement in the Form of Negotiations Between the United States, Europe, and Africa is the theme for negotiation. The agreement will establish guidelines that forbid the export of raw materials...
-
An environmental scientist is counting the number of bacteria in a sample of wastewater. The number of bacteria has a Poisson distribution with = 3 per microliter. What is the probability that...
-
Which of the following tables represent probability distributions? a. x P(x) b. x P(x) C. x P(x) 0 0.45 4 0.27 1 0.02 1 0.15 5 0.15 2 0.41 2 0.30 6 0.11 3 0.24 3 0.10 7 0.34 4 0.33 8 0.25
-
A river flowing at 2 ft/s across a 3-ft-high and 30-ft-wide area has a dam that creates an elevation difference of 7 ft. How much energy can a turbine deliver per day if 80% of the potential energy...
-
The data below are the responses (in dollars) from a simple random sample of MTH 120 students to the question, "How many dollars per week do you spend eating out?" 10 25 50 12 25 12 30 60 60 15 30 75...
-
Suppose that Chino Material Systems Inc. sells a low-quality, short-life system. a. Assuming a 12 percent cost of capital, what are this projects NPV and its IRR? Be sure to talk about (1) mutually...
-
As shown in the figure, a loaded mine cart is being lifted by a frictionless pulley and a steel wire rope. Obtain the equations of motion and natural frequency of vibration of the cart in the given...
-
You work for a municipal park and recreation department. Your town has operated a recreation center and athletic complex near the center of town since its construction in 1963. The town is...
-
Post the results in the respective ledgers. Prepare a trial balance Please carefully read the following transactions and answer the questions given at the end of the questions. ANSWER ALL THE...
-
Suppose the Suns gravity were switched off. The planets would leave their nearly circular orbits and fly away in straight lines, as described by Newtons first law. Would Mercury ever be farther from...
-
Discrete sample spaces: suppose there are N cable cars in San Francisco, numbered sequentially from 1 to N. You see a cable car at random; it is numbered 203. You wish to estimate N. (See Goodman,...
-
Determine the present value of the following single amounts. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. of $1, PV of $1, FVA of $1,...
-
S On January 1, 2024, Poplar Fabricators Corporation agreed to grant its employees two weeks of vacation each year, with the stipulation that vacations earned each year can be taken the following...
-
What are the potential ramifications of overleveraging assets in a volatile economic landscape, and how can companies mitigate associated risks ?
Study smarter with the SolutionInn App