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dexar [7]
2 years ago
5

John’s Limited manufactures screws that are used in the manufacture of tables. The table manufacturers require that the screws m

ust have a length of 150 mm, with a small tolerance for differences in length.
Resultantly, John’s Ltd randomly sampled and measured the average length of screws for 25 production runs. Due to the fact that the table manufacturers require a small tolerance for differences in the length of the screws, a 1% significance level for evaluation was chosen.

After measuring the average of the samples and their standard deviation, it was observed that the sample values was normally distributed about the mean.
Assume John’s Ltd derived the following values from their test:

Mean = 150.12
Standard Deviation = 0.496

Requirements:
Consider the above scenario and conduct a hypothesis test using the 1% significance. In your answer, include the different steps used to construct a hypothesis test using the critical value method. See steps below.


•Null and alternative hypotheses

•Level of significance

•Test statistics

•Critical values and rejection region

•Process of checking to see whether the test statistic falls in the rejection region and conclusion in words
Business
1 answer:
Juliette [100K]2 years ago
5 0
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The adjusted trial balance of Lopez Company shows the following data pertaining to sales at the end of its fiscal year, October
Oksana_A [137]

Answer:

A) Prepare the revenues section of the income statement.

                                     Lopez Company

         Income Statement for the year ended MM DD, YY

Sales Revenue                              $852,850

-Sales Returns and Allowances   $24,030

-Sales Discounts                          <u> $12,760 </u>

= Net Sales                                   <u>$816,060</u>

B) Prepare separate closing entries for

(1) sales

                                                          Dr.                 Cr.

Sales                                            $852,850

Income Summary                                               $852,850

(2) the contra accounts to sales.

                                                          Dr.                 Cr.

Income Summary                        $36,736

Sales Returns and Allowances                         $24,030

Sales Discount                                                   $12,706

6 0
3 years ago
What are examples of the substitution effect and/or real-income effect?
Arlecino [84]

The options available are:

A. After subscription prices in the cable TV market fall, customers also purchase higher-speed Internet service.

B. Julie usually buys generic cereal because it is cheaper. One day she notices one of the brand-name products falls in price, so she decides to buy it.

C. Movie ticket prices plummet to $1, so you cancel your Netflix subscription in favor of attending movies at the theater. In addition, the cheap tickets leave you with extra money for concessions.

D. Kyle notices the cost of premium peanut butter has fallen. He considers this and then purchases less bread.

Answer:

The answers are A, B, and C

Explanation:

The options available are:

Option A. "After subscription prices in the cable TV market fall, customers also purchase higher-speed Internet service" is a perfect example of the real income effect.

Option B. "Julie usually buys generic cereal because it is cheaper. One day she notices one of the brand-name products falls in price, so she decides to buy it," is an example of the substitution effect.

While Option C. "Movie ticket prices plummet to $1, so you cancel your Netflix subscription in favor of attending movies at the theater. In addition, the cheap tickets leave you with extra money for concessions, " is an example of both the substitution and real-income effects

However, option D example "Kyle notices the cost of premium peanut butter has fallen. He considers this and then purchases less bread, " does not fit any of the substitution and real-income effects.

8 0
3 years ago
Joey's first task as a new employee at a Technology firm is to write a computer program to perform a predictable task. Joey can
sveticcg [70]

Answer: Option A

       

Explanation: In simple words, critical thinking refers to the process under which an individual or an entity analyse and evaluate their objectives with the intent of forming a judgement for then purpose.

In the given case, joey has a wide variety of alternatives to choose to how to perform then task and the supervisor will form judgement about his work on the basis of the choices he made for the work assigned.

7 0
3 years ago
The sale of an intangible asset for cash is classified in the statement of cash flows as a(n):________
Cloud [144]

The sale of an intangible asset for cash is classified in the statement of cash flows as a(n) Investing activity.

An asset that is not physical in nature is said to be intangible. Intangible assets include goodwill, brand awareness, and intellectual property like patents, trademarks, and copyrights. Contrasting with tangible assets like real estate, automobiles, machinery, and stock are intangible assets.

Furthermore, financial assets that get their value from contractual claims, such as stocks and bonds, are regarded as tangible assets.

An asset that is not physical in nature, such as a patent, brand, trademark, or copyright, is referred to as an intangible asset.

Intangible assets can be produced or purchased by businesses.

An intangible asset may be seen as definite or indefinite, such as a contract or legal arrangement (for example, a brand name).

A company's intangible assets do not appear on the balance sheet and do not have a documented book value.

Learn more about intangible asset here:

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3 0
2 years ago
What do investors use the income statements of organizations for?
Ivenika [448]

Answer:

Investors use income statements to determine the profitability of a company over time. ... This is the amount that a company would pay shareholders, per share, if the company paid out all of its net income as dividends.

Explanation:

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