We believe that 95% of the population of all Business Statistics students consider statistics to be
an exciting subject. Suppose we randomly and independently selected 21 students from the
population.
If the true percentage is really 95%, find the probability of observing 20 or more
students who consider statistics to be an exciting subject. Round to six decimal places.
A) 0.340562 B) 0.376410 C) 0.283028 D) 0.716972
D
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The issuance of stock decreases a company's assets and increases its stockholders' equity
a. True b. False Indicate whether the statement is true or false
Work specialization increases efficiency in all of the following ways except by:
A. Allowing workers to become really good at their job tasks B. Making training easier C. Keeping employees engaged and focused on their jobs D. Improving efficiency through routines and patterns
The planned orders entries for members of a DRP system are rolled up into the entry labeled ________ in the distribution requirements planning system
Fill in the blank(s) with the appropriate word(s).
Arca Incorporated makes a single product-a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead$38,700 Budgeted fixed manufacturing overhead 170,700 Total budgeted manufacturing overhead$ 209,400 Budgeted production (a) 20,000unitsStandard hours per unit (b) 1.50machine-hoursBudgeted hours (a) × (b) 30,000machine-hours Applying Overhead: Actual production (a) 15,000unitsStandard hours per unit (b) 1.50machine-hoursStandard hours allowed for the actual production (a) ×
(b) 22,500machine-hours Actual Overhead and Hours: Actual variable manufacturing overhead$9,812 Actual fixed manufacturing overhead 185,700 Total actual manufacturing overhead$ 195,512 Actual hours 22,300machine-hoursThe total of the overhead variances is: A. $38,462 U B. $13,888 F C. $13,888 U D. $38,462 F