The idea that a large number of sample means or proportions will approximate a normal distribution, regardless of the distribution of the population from which they were drawn, is known as:
a. sample variance
b. population variance
c. central limit theorem
d. random error
e. simple random sample
c. central limit theorem
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A journal entry for a $65 payment for rent expense was posted as a debit to Salaries Expense and a credit to Cash. Which of the following statements correctly states the effect of the error on the trial balance?
A) The sum of the credits will equal the sum of the debits. B) The sum of the debits will exceed the sum of the credits by $65. C) The sum of the debits will exceed the sum of the credits by $130. D) The sum of the credits will exceed the sum of the debits by $130.
) If you use only a few examples to represent the whole of the conclusion, you are committing this logical fallacy
A) slippery slope B) faulty causation C) hasty generalization D) either/or thinking