An automobile manufacturer stated that it will be willing to mass produce electric-powered cars if more than 30% of potential buyers indicate they will purchase the newly designed electric cars. In a sample of 500 potential buyers, 160 indicated that they would buy such a product
a. State the hypotheses for this problem
b. Compute the standard error of p.
c. Compute the test statistic.
d. At 95% confidence, what is your conclusion? Should the manufacturer produce the new electric powered car?
a. H0: P ? 0.3
Ha: P > 0.3
b. 0.0205
c. Z = 0.98
d. p-value = 0.1635 <0.05; do not reject H0; no, the manufacturer should not produce the cars.
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The costs of quality consist entirely of rework costs and customer complaint costs
Indicate whether the statement is true or false
A performance management and evaluation system is a set of procedures that account for and report on
a. qualitative performance. b. quantitative performance. c. employee performance. d. quantitative and qualitative performance.
On what needs do (1) management accounting and (2) financial accounting focus?
Acme is exploring two locations for a new plant to supply product for a government contract. They dispatch a team of industrial engineers and cost estimators to the Minneapolis-St
Paul area of Minnesota and to Kennewick-Pasco-Richland area in Washington. After conducting some tests, the teams return with some unusual findings, the Minneapolis-St. Paul workers seem to obey classic learning effect rules; their learning rate is 80% and is based on a doubling of output. They are much slower than their counterparts at the other site; it is estimated that the first batch units they assemble will take them 700 hours. The workforce in the Kennewick-Pasco-Richland area is much faster; their first batch will take only 470 hours. Strangely, these workers also exhibit learning effects, but their learning is based on a tripling of output rather than the traditional doubling and their rate is 78%. How many batches must be made before Minneapolis-St. Paul's time falls below Kennewick-Pasco-Richland's?