The p-chart is only useful for sampling that deals with continuous variables.
Answer the following statement true (T) or false (F)
False
Note that p-charts record the results of attributes, which are quality characteristics that are classified as either conforming or not conforming to specification. Goods or services may be observed to be either good or bad or functioning or malfunctioning. For example, a lawnmower either runs or it doesn't; it attains a certain level of torque and horsepower or it doesn't. This type of measurement is known as sampling by attributes and involves discrete, not continuous measurements.
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Seth and Rachel have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investments at 15%; salary allowances of $24,000 and $20,000, respectively; and the remainder to be divided equally. How much of the net income of $90,000 is allocated to Seth?
a. $42,750 b. $47,750 c. $45,000 d. $43,250
Generally, recognition criteria are met and revenues are recognized
a. at the point of sale. b. when cause and effect are associated. c. at the point of cash collection. d. at appropriate points throughout the operating cycle.
Which set of criteria below should be used to judge data quality?
a. Data are accurate, balanced, and credible. b. Data are accurate, balanced, credible, and documented. c. Data are current, balanced, credible, and documented. d. Data areaccessible, accurate, credible, and documented.
If a forecast is consistently greater than (or less than) actual values, the forecast is said to be biased
Indicate whether the statement is true or false