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Maslowich
3 years ago
14

On average, do women spend more on haircuts than men? Someone took a random sample of men and women at UF and asked them how muc

h they had spent on their last hair cut. A portion of the Minitab output appears below. What is the best interpretation of the output below? Difference = mu (F) - mu (M) T-Test of difference = 0 (vs >): T-Value = 3.82 P-Value = 0.000 DF = 68A. With a p-value equal to 0.000, there is no statistically significant evidence of a difference in average amount of money spent on hair cuts between men and women at UF.B. With a p-value equal to 0.000, there is statistically significant evidence of a difference in average amount of money spent on hair cuts between men and women at UF.C. With a p-value equal to 0.000, there is statistically significant evidence that the average amount of money spent on hair cuts for women is higher than it is for men.D. With a p-value equal to 0.000, there is statistically significant evidence that the average amount of money spent on hair cuts for men is higher than it is for women."
Business
1 answer:
Monica [59]3 years ago
5 0

Answer:

C. With a p-value equal to 0.000, there is statistically significant evidence that the average amount of money spent on hair cuts for women is higher than it is for men.

Explanation:

The P-value, compared to the level of significance, gives us the information to decide if there is statistical evidence or not.

If the P-value is smaller than the level of siginificance, the effect is significant. In this case, with P-value=0.000, it is smaller than any level of significance and we can conclude that there is statistical evidence that there is a difference in the average amount of money spent on haircuts between women and men at UF.

In the output, we have that the t-value is positive. If the Difference is defined as: mu(Female) - mu(Male), we know that the mean spending is higher for women than for men.

Also, the alternative hypothesis is defined as "mu(Female) - mu(Male)>0".

With these, we can conclude the answer is Option C.

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Answer:

Operating income will be $6,000

Explanation:

The computation of the operating income is shown below:

= Total cost - outsourcing cost

where,

Total cost = Variable cost + fixed cost

Variable cost = Number of microwaves × variable cost per unit

                       = 500 × $26

                       = $13,000

And, the fixed cost is $7,000

Now put these values to the above formula  

So, the value would equal to

= $13,000 + $7,000

= $20,000

And, the outsourcing cost equal to

= Number of microwaves × outsourcing cost per unit

= 500 × $28

= $14,000

So, the net income would be

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= $6,000

                       

3 0
3 years ago
Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a
kenny6666 [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Schell has a total of $39,060 in overhead.

Direct labor hours:

Standard= 400

Deluxe= 200

Machine hours:

Standard= 4,150

Deluxe= 3,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

1) Direct labor hours as allocation rate

Estimated manufacturing overhead rate= 39,060/600= $65.1 per direct labor hour

Now, we can allocate to each product line:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Standard= 65.1*400= $26,040

Deluxe= 65.1*200= $13,020

2) Machine hour as allocation rate:

Estimated manufacturing overhead rate= 39,060/7,150= $5.46 per machine hour

Now, we can allocate to each product line:

Standard= 5.46* 4,150= $22,659

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3 years ago
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Compounding. If you compound your interest, then your interest rate will go up, and you get more interest.
6 0
3 years ago
BatCo makes metal baseball bats. Each bat requires 1 kg of aluminum at $18 per kg and 0.25 direct labor hours at $20 per hour. O
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Answer:

Cost variance= 7 unfavorable

Explanation:

Giving the following information:

Each bat requires 1 kg of aluminum at $18 per kg and 0.25 direct labor hours at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. Assume the actual cost to manufacture one metal bat was $40.

Estimated cost= 18 + 0.25*20 + 0.25*40= 33

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5 0
3 years ago
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Ok this question is poping up a lot and I need to know if there are any options to choose from.
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