Answer:
The answer is below
Explanation:
a)
Given that mean (μ) = $1500, standard deviation (σ) = $200, sample size (n) = 100
confidence (C) = 95% = 0.95
α = 1 - C = 1 - 0.95 = 0.05
α/2 = 0.05 / 2 = 0.025
The z score that corresponds with 0.475 (0.5 - 0.025) is 1.96. Therefore the margin of error (E) is:
The confidence interval = (μ ± E) = (1500 ± 39.2) = (1500 - 39.2, 1500 + 39.2) = (1460.8, 1539.2)
The confidence interval is between $1460.8 and $1539.2.
b) Given that mean (μ) = $1500, standard deviation for 100 samples = σ /√n = $200,
confidence (C) = 95% = 0.95
The confidence interval = (μ ± E) = (1500 ± 392) = (1500 - 392, 1500 + 392) = (1108, 1892)
The confidence interval is between $1108 and $1892.
Deciding how to make the best use of limited resources to satisfy virtually unlimited wants is known in economics as economizing behavior.
<h3>What is Economics?</h3>
Economics is a social science that examines the decisions that people, businesses, governments, and nations make regarding the distribution and consumption of products and services.
Economics is the study of how individuals divide up finite resources between individual and group uses for production, distribution, and consumption.
Economics has two subfields: macroeconomics and microeconomics. Efficiency in exchange and production is the main focus of economics. Both the Consumer Price Index (CPI) and the Gross Domestic Product (GDP) are frequently used economic statistics.
To spot prospective trends or predict the future of the economy, economists use economic indicators like the GDP and the consumer price index.
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The answer is<u> "efficiency is increased".</u>
An assembly line is a manufacturing process in which compatible parts are added to an item in a successive way to make a final result. Much of the time, an assembling mechanical production system is a semi-mechanized framework through which an item moves. At each station along the line some piece of the generation procedure happens. The laborers and hardware used to create the thing are stationary along the line and the item travels through the cycle, from beginning to end.
Answer:
Option (A) is correct, adjusted trial balance is prepared before journalizing all transactions is not true.
Explanation:
Adjusting trial balance lists closing balance of all accounts after preparing adjusting entries. It is summary of all accounts to ensure that debit and credit sides of accounts match.
Adjusted trial balance help in preparing financial statements as all adjustments are taken into account. Ledger balances are posted in adjusted trial balance. So, all statements are correct except (A).
Answer:
a. 138,000
Explanation:
Equivalent Units of Production (FIFO method)
Whole % Completion Equ. units
Units Dir. Mat.
Beg. Work in process (100% - 70%) 10,000 30% 3,000
Started & completed (140,000-10,000) 130,000 100% 130,000
Ending Work in process 20,000 25% <u> 5,000 </u>
Total Equivalent units <u>138,000</u>
