Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Use the information below to answer Questions 1 through 4.

Given a sample size of 36, with sample mean 670.3 and sample standard deviation 114.9, we perform the following hypothesis test.
Null Hypothesis
Alternative Hypothesis

1. What is the test statistic?
670.3-700 ÷ 114.9/√36
= -29.7÷19.15
= -1.55

2. At a 10% significance level (90% confidence level), what is the critical value in this test? Do we reject the null hypothesis?

Table V value of .01 is 1.645
-1.645 < z > 1.645

z= 1.55 which falls within so we accept.

3. What are the border values between acceptance and rejection of this hypothesis?
700 +/- 1.645 (100/√ 36) =
700 +/- 1.645 (100/16.6666) =
700 +/- 1.645 (6.00) =

700 + 9.87 = 709.87
700- 9.87 = 690.13
666.87, 733.13

4. What is the power of this test if the assumed true mean were 710 instead of 700?
ZL = 709.87 - 710 -0.13 = -0.0013 Zl= .0040
100 100
ZU = = 690.13 - 710 -19.87 = -0.1987 Zu = .0753
100 100

.0753 - .0040 = .0749 β = 1. - .0749 = .9251

Questions 5 through 8 involve rolling of dice.
Given a fair, six-sided die, what is the probability of rolling

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91599998
  • Price:- $35

Priced at Now at $35, Verified Solution

Have any Question?


Related Questions in Accounting Basics

Question decision making with managerial accountingdue to

Question: Decision Making with Managerial Accounting Due to varying business characteristics, the managerial accounting techniques applied in each business may differ. For example, a business in the start-up phase may re ...

Question - in 2017 x company had the following selling

Question - In 2017, X Company had the following selling price and per-unit variable cost information: Selling price $157 Variable manufacturing costs 69 Variable selling and administrative costs 26 In 2017, total fixed c ...

Question - during 2018 beltram inc had sales of 35633

Question - During 2018, Beltram, Inc. had Sales of $3,563.3 million, Gross profit of $1,634.6 million and Selling, general, and administrative expenses of $1,278.0 million. What was Beltram's Cost of sales for 2018? $ 88 ...

Question - us steel issues a 2000000 bond at 10 for 8 years

Question - US Steel issues a $2,000,000 bond at 10% for 8 years. The market interest rate is 9%. Be sure to use the time value of money tables, not the formulas; and round your answers to the nearest whole dollars. Quest ...

Question - on march 1 2017 boyd company acquired real

Question - On March 1, 2017, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash. An old warehouse on the property was demolished at a cost of $8,200; th ...

Question - exter co receives terms of 210 n30 on all

Question - Exter Co. receives terms of 2/10, n/30 on all invoices from Garn Industries. On January 15, 2008, Exter purchased items from Garn for $4,200, excluding taxes and shipping costs. What amount would Exter use as ...

Question - garfield gunman purchased as a held-to-maturity

Question - Garfield Gunman; purchased, as a held-to-maturity investment, $80,000 of the 9%, 5-year bond on Chester Corporation for $70,086, which provides an 11% return. Prepare Garfield's journal entries for (a) the pur ...

Question -a revenue of 62000 was earned but only 45000 was

Question - a. Revenue of $62,000 was earned, but only $45,000 was collected. Expenses of $36,000 were incurred, but only $30,000 was paid. What is reported operating income? b. Wages of $5,000 are paid every Friday for a ...

Question 1 prepare the balance sheet for alomari delivery

Question: 1. Prepare the balance sheet for ALOMARI Delivery Service from the following alphabetical list of the accounts at December 31 amounts in dollars. 2. The balances for the accounts of Lance's Consulting Firm, Inc ...

Question - on january 1 2007 nichols companys inventory of

Question - On January 1, 2007, Nichols Company's inventory of Item X consisted of 2,000 units that cost $8 each. During 2007 the company purchased 5,000 units of Item X at $10, each, and it sold 4,500 units. Periodic inv ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As