Accounting procedures allow a business to evaluate their

Reference no: EM13240839

Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO (First In First Out). A manufacturer evaluated its finished goods inventory (in $ thousands) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower?

1. What is the null hypothesis?

A) Î¼F = Î¼L

B) Î¼F â‰ Î¼L

C) Î¼F â‰¤ Î¼L

D) Î¼F > Î¼L

2. What is the alternate hypothesis?

A) Î¼F = Î¼L

B) Î¼F â‰ Î¼L

C) Î¼F â‰¤ Î¼L

D) Î¼F > Î¼L

3. What is the degree of freedom?

A) 4

B) 5

C) 15

D) 10

E) 9

4. If you use the 5% level of significance, what is the critical t value?

A) +2.132

B) Â± 2.776

C) +2.262

D) Â± 2.228

5. What is the value of calculated t?

A) +0.93

B) Â± 2.776

C) +0.47

D) - 2.028

6. What is the decision at the 5% level of significance?

A) Fail to reject the null hypothesis and conclude LIFO is more effective.

B) Reject the null hypothesis and conclude LIFO is more effective.

C) Reject the alternate hypothesis and conclude LIFO is more effective.

D) Fail to reject the null hypothesis and conclude LIFO is not more effective.

7. This example is what type of test?

A) One sample test of means.

B) Two sample test of means.

C) Paired t-test.

Reference no: EM13240839

Questions Cloud

Determine the numerical values of the coefficients : Write out the form of the partial fraction decomposition of the function and determine the numerical values of the coefficients.

Describe the daily life for the citizens of ancient greece : Describe the daily life for the citizens of ancient Greece. Compare demococy is ancient Greece with republican government in the United States.

Explain what is the ph of the buffer for phosphoric acid : A solution is prepared by dissolving 20.0 g of K2HPO4 and 25.0 g of KH2PO4 in enough water to produce 1.0 L of solution. What is the pH of this buffer

Find the volume of balloon : A spherical balloon has the potential to reach a diameter of 35 cm, what would be the volume of this balloon when it reaches a pressure of 0.75P0 and a temperature of -15°C

Accounting procedures allow a business to evaluate their : Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO (First In First Out). A manufacturer evaluated its finished goods inventory (in $ thousands) for five products both ways.

The motif of a great flood : The motif of a great flood that covers the entire world is an integral theme in every culture. Cite at least three examples and give details for each story?

The unknown solution might contain any combimation of 3 ions : when that precipitate was treated with NH3 it turned black. Based on this what can you say about the ions that may be present or absent in the solution? Can you reach a conclusion about the presence or absence of each of the three ions based on th..

Find the maximum value of the current in the circuit : An AC source operating at 63 Hz with a maximum voltage of 170 V is connected in series with a resistor (R = 1.2 k) and an inductor (L = 3.6 H), What is the maximum value of the current in the circuit

Hitler’s final solution for europe’s jewish population : What impact did World War II have on the civilian population of Europe? What impact did the “Great Patriotic War” have on the people of the Soviet Union? What was Hitler’s “final solution” for Europe’s Jewish population?

User Account

All Pages