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Z or t StatisticsIf n ≥30 we use Z, if, n < 30 we use t statistics. These statistics can be used to test the hypothesis:
Ho: B = O that is, there is no relationship between X and YHA: B≠ O There is a significant relationship between X and Y
The level of significance is α = 0.05
The degrees of freedom = n-k-1Conclusion:
Reject Ho since computed T > tc. This means that there is a significant relationship between the labour costs and number of units.
Stock turnover ratio Meaning: this ratio establishes a relation ship between costs of goods sold and average inventory. Objective: the objective of component of this r
INVENTORY CONTROL DECISIONS Factories, workshops, engineering departments handle raw materials used in the manufacture of products. The main objectives in handling these materi
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I need help making sure I did my accounting assignment correctly
Open Account Credit sales are usually on open account that implies which the seller ships the goods to the buyer and afterward sends the bill invoice. Consignment In th
Explain the Objectives of management accounting? 1. Planning and policy formulation: the object of management accounting is to supply necessary data to the management for fo
Accounting Profit is a company's sum total earnings, computed according to Generally Accepted Accounting Principles (GAAP), and involves the explicit costs of operating business, l
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Barker Company has a single product called a Zet. The company normally produces and sells 80,000 Zets each year at a selling price of $40 per unit. The company’s unit costs at this
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