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yulyashka [42]
3 years ago
15

Suppose an inventor is interested in the proportion of local consumers who would be interested in purchasing her new product. If

she samples local residents at random and tests hypotheses regarding p, the population proportion, what should she do to reduce her risk of making a Type II error?
a. Increase the number of local consumers she will sample

b. Decrease the number of local consumers she will sample

c. Make sure her sample of local consumers is exactly 10

d. Decrease the significance level
Business
1 answer:
olga_2 [115]3 years ago
3 0

Answer:

The answer is option A) To reduce her risk of making a Type II error, she should Increase the number of local consumers she will sample

Explanation:

A type II error is sometimes called a beta error because it confirms an idea that should have been rejected, claiming the two observances are the same, even though they are different. A type II error is essentially a false positive.

A type II error can be reduced by making more stringent criteria for rejecting a null hypothesis such as:

  • Increasing the the sample size used in the Test: this is a strategy used to increase the power of the test and reduce the error to a considerable amount.
  • Increasing the significance level: choosing a higher level of significance is important for double checking and which increases accuracy.
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Answer:

B) A loss of $6,000 in the income statement.

Explanation:

The appropriate journal entry should be:

December 31 (recognition of loss on purchase commitments)

  • Dr Loss on Purchase Commitments account 6,000
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Since the price of raw materials lowered by $6,000, the company lost money on its purchase commitments:

Purchase commitments loss = contracted price - market value = $32,000 - $26,000 = $6,000

The loss on purchase commitments is an expense, and accrued loss on purchase commitments is a liability.

5 0
3 years ago
During 2016, Sarasota Corporation spent $164,160 in research and development costs. As a result, a new product called the New Ag
Arturiano [62]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
Following is the stockholders’ equity section of the balance sheet for The Procter & Gamble Company along with selected earn
erastova [34]

Answer:

See below

Explanation:

a.

2014 $2,747.2 Million

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Working

2014 4,008.0 - 1,260.8 = $2,747.2

2013 4,008.0 - 1,242.6 = $2,765.4

b.

2014 $54.14

2013 $55.21

c.

Account title

Preferred stock A/c Dr. $40.0

Additional paid in capital A/c Dr. $2,128.4

To Treasury stock A/c Cr. $2,168.4

d.

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$10,956

Shareholder's equity attributable to P and G shareholders $64,035

ROCE

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17.1%

4 0
3 years ago
According to the Fisher equation, if the expected inflation rate is less than the actual inflation rate, then the actual rate of
Svetlanka [38]

Answer:

D. higher than the equilibrium interest rate.

Explanation:

The Fisher equation at equilibrium ; i = r + τe helps you to answer this question whereby;

i = nominal interest rate

r = real interest rate

τe = expected inflation rate

If we re-write it beginning with real interest rate ; r = i - τe .

So, considering the above equation, if the <em>actual</em> inflation rate turns out to be lower than <em>expected</em> , we will have a lower τe and the difference  (i - τe) will be bigger making the real interest rate higher than equilibrium.

5 0
3 years ago
If there were 70000 pounds of raw materials on hand on January 1, 100000 pounds are desired for inventory at January 31, and 250
vlabodo [156]

Answer:

280,000 pounds

Explanation:

The computation of the purchase of raw material is shown below:

= Ending inventory + production required - beginning inventory

= 100,000 pounds + 250,000 pounds - 70,000 pounds

= 280,000 pounds

We simply added the required production and deducted the beginning inventory to the ending inventory so that the correct pounds can be calculated

6 0
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