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Veronika [31]
2 years ago
10

The researcher takes a random sample of 250 corporate employees and finds the mean number of hours worked by employees was 47. i

n order to assess this evidence, we need to find:_________
Business
1 answer:
Anna35 [415]2 years ago
3 0

In order to assess this evidence, we need to find how likely it is that in a sample of 250 we will find that the mean number of hours per week worked by the corporate employees is as high as 47 if the true mean is 40.

<h3>What is hypothesis testing?</h3>

In hypothesis testing, in order to assess the evidence as true or not, we need to find out how likely it is to get data like those that are observed for any claim that is observed as true.

For example, regarding this question, there can be two hypotheses/ claims i.e.:

Claim 1: The average time of work for a full-time corporate employee per week is 40 hours.

Claim 2: The average time of work for a full-time corporate employee per week is more than 40 hours.

So, to find out if any of these claims are valid, research is done and the evidence is assessed by following the above-answered way.

To know more about how this calculation is performed, visit: brainly.com/question/13027180

#SPJ4

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For each separate case below, follow the 3-step process for adjusting the prepaid asset account at December 31. Step 1: Determin
svetoff [14.1K]

PART A

Answer:

Insurance expense debit for 3,800

        Insurance prepaid credit for 3,800

Explanation:

a.- Prepaid Insurance. The Prepaid Insurance account has a $4,700 debit balance to start the year. A re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end.

Step 1:  Currently equals to $4,700

Step 2: It should equal $900

In this Case: It is giving us the begining balance, and then it proceeds to tell us the ammount unexpired, which means the ending balance. So the <em>diference will be the adjuting entry</em>

Step 3: $4700 - $900 = $3,800

insurance expense debit for 3,800

  insurance prepaid credit for 3,800

PART B

Answer:

insurance expense 1040  debit

        prepaid insurance               1040credit

Explanation:

b.- Prepaid Insurance. The Prepaid Insurance account has a $5,890 debit balance at the start of the year. A review of insurance policies and payments shows $1,040 of insurance has expired by year-end.

Step 1: Curently equals to $5,890

Step 2: 5,890 - 1,040 expired portion = 4,850 unexpired portion

            The blaance should be 4,850

In this Case: It is giving us the begining balance, and then it proceeds to tell us the ammount expired, which means the adjusting entry. So the <em>diference will be the ending balance</em>

Step 3

The adjusting entry must be made for 1,040 which is the expired portion

insurance expense 1040  debit

       prepaid insurance               1040credit

PART C

Answer:

rent expense   4,000 debit

        prepaid rent                4,000 credit

Explanation:

C.- PrepaidRent. On September 1 of the current year, the company prepaid $24,000 for 2 years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $24,000.

Step 1 Current balance is 24,000

In this Case: It is giving us the begining balance, and then it proceeds to tell us <em>information about the contract,</em> which means <em>we are going to work to get the expired portion</em> and with that calculate the ending balance like on part B

Step 2 We are at December 31th the expired portion will be 4 months (September, October, November and December) so:

        24,000

-----------------------------   x 4 months expired = 4,000 expired portion

24 month of contract

24,000 - 4,000 = 20,000

<em>begining - expired = ending AKA "unexpired"</em>

<em>The balance should be equal to 20,000</em>

<em />

Step 3: the adjusting entry should be done for 4,000 which is the expired portion of the rent.

rent expense   4,000 debit

   prepaid rent                4,000 credit

7 0
3 years ago
The figure in the amount column is sometimes referred to as 'cumulative balance'. Why is it referred to in this way?
Bas_tet [7]

Answer:

Explanation:

For each transaction, you add to the previous balance to keep a running total.

6 0
3 years ago
Oreo cookies are now extremely expensive to purchase. Instead of buying oreo cookies, i now want to buy chips ahoy. What determi
Tema [17]

In economics, the determinant of demand that this scenario fall under , when you go for chips ahoy because Oreo cookies are now extremely expensive is Change in Price of Substitute Good.

What is Substitute Good?

A substitute good  can be regarded as product or service that  is been used as alternative for other goods.

It should be When the price of a substitute good rise, then demand for the other substitute as well will rise.

  • This is referred to as  <u>positive cross price elasticity.</u>

Learn more about substitute good at:

brainly.com/question/10504938

8 0
2 years ago
On January 1, Year 1, Gemstone Mining Company (GMC) paid $10,500,000 cash to purchase a stone pit estimated to hold 50,000 tons
Varvara68 [4.7K]

Answer:

Cost of Mining Stone pit = $10,500,000

Salvage value at the end of third year = $500,000

Total expected mining during the life = 50,000 tonnes

Depletion per tonne = (cost - salvage) ÷ total expected mining

                                 = (10,500,000 - 500,000) ÷ 50,000

                                 = $200 per tonne

Stone extracted during the year = 10,000 tonnes

Depletion expense of Year 1 = 10,000 tonnes @ 200 per tonne

                                                = $2,000,000

JOURNAL ENTRY:

Depletion expense A/c  Dr.                        $2,000,000

To  Accumulated Depletion- Mining rights                    $ 2,000,000

(To record depletion expense for Year 1)

6 0
3 years ago
What's the u.s national debt?
otez555 [7]
America's national debt is the amount that is due to the federal government of America. The portion of the public debt is the price of the dominant Treasury securities at a part of time that has been announced by the Treasury and also with other federal government agencies.
3 0
3 years ago
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