A recent report indicated that families in a certain country typically spend about $175 per week on groceries. To investigate wh
ether families in a certain city typically spend more than $175 per week, an economist selected a random sample of 500 families in the city and found the sample mean to be $176.24. With all conditions for inference met, a hypothesis test resulted in a pp-value of 0.0021. At the significance level of α=0.05α=0.05, which of the following is a correct conclusion?
A. The pp-value is less than 0.05, and the null hypothesis is rejected. There is convincing statistical evidence that the mean is greater than $175.
The pp-value is less than 0.05, and the null hypothesis is not rejected. There is convincing statistical evidence that the mean is greater than $175.
B. The pp-value is less than 0.05, and the null hypothesis is not rejected. There is not convincing statistical evidence that the mean is greater than $175.
C. The pp-value is greater than 0.05, and the null hypothesis is rejected. There is convincing statistical evidence that the mean is greater than $175.
D. The pp-value is greater than 0.05, and the null hypothesis is not rejected. There is not convincing statistical evidence that the mean is greater than $175.
With a pp value of 0.0021 which is less than value at the level of significance, the null hypothesis is not rejected as there is no sufficient statistical evidence that the mean is greater than $175.
In a process costing system, a.There is no need to track materials to processes.b.There is no need to use time tickets to assign costs to processes.c.A process costing system is more expensive to maintain because it has more work-in-process accounts.d.All of these choices are true . All of the choices given are true .
A credit bureau is a agency which collects the credit history of consumers so that creditors can make decisions about granting loans. So the only logical choice is for Martha's lender to check with them to get her credit history before denying or granting her a mortgage or loan.