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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.
Advantages of activity based costing 1) It helps understanding the behavior of overhead costs and their relations ship to products services customers and market segments. 2)
explain briefly variable cost, fixed cost and semi- variable in the production cost of a productor service, giving example for each
Archie Ltd manufactures a product called Gizmo. It uses the following direct inputs: Price Quantity Cost per unit of output Direct materials $4 per gram 10 grams per unit $40 per
meaning standard costing
What value can management derive from a Balance Scorecard? How does the management accountant contribute?
RULES OF GAME THEORY 1) The number of competitors is finite. 2) There is a conflict of interests between the participants. 3) Each of these participants has available to
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
Definition of accounting Accounting is the procedure of recognizing measuring and communicating economic information to allow informed judgments and decisions by the user’s inf
Advantages and Disadvantages
TEMPORARY CLOSURE OF FACTORY OR DEPARTMENT Here there is a similar situation to that of discontinuance of a product such as Model N40. A factory which is expected to earn some
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