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Andrei [34K]
4 years ago
12

A random sample of 89 tourists in chattanooga showed that they spent an average of $2860 (in a week) with a standard deviation o

f $126; and a sample of 64 tourists in orlando showed that they spent an average of $2935 (in a week) with a standard deviation of $138. we are interested in determining if there is any significant difference between the average expenditures of all the tourists who visited the two cities.

Business
2 answers:
Vladimir79 [104]4 years ago
8 0

Answer:

(a) 151 (b) 21430 (c) p value = 0.008 (d) We reject the null hypothesis and conclude that there is a significant difference between average expenditure of all tourist who visited the cities

Explanation:

Given that:

Let the random sample n₁ = 89

The average (x₁) = $2860

The standard deviation(σ) = $126

Random sample n = 64

The average (x₂) =  $2935

The standard deviation(σ) = $138

Now,

(a) = The test degree of freedom =  n₁ +n₂₂ - 2 = 89 +62 -2

= 151

Note kindly find an attached copy work to part of the solution of this exercise below

faust18 [17]4 years ago
6 0

Answer:

The complete question is given in the explanation box below and the solutions to the problem is shown in the pictures attached herewith accordingly. Thank you.

Explanation:

a. Determine the degrees of freedom for this test.

b. Compute the test statistic.

c. Compute the p-value.

d. What is your conclusion? Let α = .05.

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The two primary factors affecting an entrepreneur choice of legal ownership for a venture are TAXES AND LEGAL LIABILITY.
The type of business that an entrepreneur establish will determine the type and the amount of tax that it will be required to pay. The legal liability of the entrepreneur determines the extent to which he can be liable in case he finds himself in a financial mess. The entrepreneur should try and minimize the impacts of these two factors.
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In October​ 1, 2019,​ Westfield, Inc. sold machinery to a customer for $ 25 comma 000. The customer could not pay at the time of
Virty [35]

Answer:

Interest revenue for the year 2019 = $688

Explanation:

Total cost of asset = $25,000

Interest Revenue to be earned = 11% for 12 months

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3 0
4 years ago
Everything else equal, if the United States runs a large foreign trade deficit, the financing of the deficit will: a. increase g
sladkih [1.3K]

Answer: decrease tax revenue

Explanation:

A trade deficit occurs when the import of a country's is more than the export of the country for a given period of time period. The main cause is when there's an imbalance between the savings of a country and the investment rates.

In this case, financing the deficit will lead to the reduction in the tax revenue. When part of the tax revenue gotten from economic agents are used in the finance of the deficit, there'll be a reduction in the tax revenue.

6 0
3 years ago
Alena hopes that a good outline will accomplish Which of the following for her
natka813 [3]

Answer:

D. Help her distinguish between main topics and subtopics.

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During a presentation, a good outline helps to list out the main points of the presentation in an orderly and easily understood manner.

For Alena, during her presentation, she would hope that a good outline would help her to distinguish between the main topic and subtopics.

8 0
3 years ago
The owner of a greenhouse and nursery is considering whether to spend $6,000 to acquire the licensing rights to grow a new varie
navik [9.2K]

Answer:

4,000.

Explanation:

The Cost, volume, and profit (CVP) analysis helps manager to evaluate capital projects. It is conducted by companies to determine how much of sales must be made to achieve break-even and target profits. This analysis works on several assumptions, these are:

- Selling price per unit is constant.

- Variable cost per unit is also constant.

- Fixed cost remains constant.

- The stocks produced will must be sold.

To conduct CVP analysis, a contribution income statement is prepared. This is a one of the internal reports prepared by management and the equation to it is as follows:

  (SP * Quantity) - (VC * Quantity) = CM - Fixed Cost = Operating Income

where

SP = Selling price

VC = Variable cost

CM = Contribution margin

The above given equation can be used for break-even analysis. To do so, simply solve it for "Quantity". Likewise, it can also be used to determine how much units must be sold to achieve a desired/target profit. The focus here is to determine the quantity that must be sold to achieve a target profit of $6,000. Simply put the given information in the equation and find the quantity;

⇒       (6 * Quantity) - (3 * Quantity) - 6,000 = 6,000

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OR     Quantity = 12,000 / 3

⇒       Quantity = 4,000.

So, 4,000 units must be sold to achieve a target profit of $6,000.

6 0
3 years ago
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