According to the cost of poor quality, this cost belongs to Internal failure cost which is associated with product failures.
What is Internal failure costs?
Internal failure costs are quality expenses related to product defects found before a product leaves the facility. The firm's internal inspection procedures help identify these shortcomings. Failure analysis activities, product rework expenses, product scrapped, and throughput lost are a few examples of internal failure costs. Internal failure costs result from defects found prior to delivery. These cover all expenses incurred as a result of failing to satisfy both internal and external consumers.
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Taxable income is The amount of your income, after it has been reduced by exemptions, deductions, and credits, that is used to calculate the tax you owe.
Answer: The court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.
Explanation:
Based on the information given in the question, we should note that the court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.
We should note that under a predominant purpose test, it will apply when the transaction involved is Mena for goods sales and not for the service sales.
The calculated value of the Z statistic to test the potential buyer's belief at the 1% significant level is -2.57512627.
The calculated Z score is slightly greater than the critical value of -2.575, the potential buyer's view that weekly store revenues are less than $7,000 stands vindicated.
Since store revenues are assumed to be normally distributed and population standard deviation is given, we can use the Z-test. The relevant test statistic is the Z-score.
We use the following formula for calculating the Z score:
Z = (X - μ) / (σ /√n)
Substituting the relevant values we get,
Z = (6400 -7000) / (1042/√20)
Z = -600 / 232.9982833
Z = -2.57512627
