If a sample containing 12 observations is taken from a normally distributed population and a 99% confidence estimate for ? is needed, the appropriate t-score is:
a. 2.681.
b. 2.718.
c. 3.169.
d. 3.055.
e. 3.106.
E
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Supermarket chain Reynold's is considering stocking a number of private-label products in order to offer customers the lowest possible prices. Explain how this strategy could benefit the company
What will be an ideal response?
Which of the following is not typically viewed as one of the Five-S’s?
a. Sort b. Sell c. Set in order d. Standardize
Suppose a firm changes its credit policy from 2/10 net 30 to 3/10 net 30. The change is meant to meet competition, so no increase in sales is expected. The average accounts receivable balance will probably decline as a result of this change.
Answer the following statement true (T) or false (F)
Orlando Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended:Actual units produced: 12,000Actual variable overhead incurred: $77,700Actual machine hours worked: 18,800Standard variable overhead cost per machine hour: $4.50If Orlando estimates 1.5 hours to manufacture a completed unit, the company's variable-overhead spending variance is:
A. $3,600 unfavorable. B. $3,600 favorable. C. $6,900 favorable. D. $6,900 unfavorable. E. None of the answers is correct.