Question
The accountant for Thomas’s Furniture Store is concerned regarding the outstanding receivable owed the company. There has been a cash flow problem and it is believed that the slow collection of accounts receivable is partially the blame. The accountant believes that 40% of the present accounts are more than 4 months behind in making payments. To be able to make a decision regarding this belief, a ...
random sample of 100 accounts was taken. It was found that 37 accounts were more than 4 months late. Did the sample data confirm the accountant’s belief? Use the .05 significant level for the statistical test.
I think they should run a thorough check on the accounts to see the if there is only 37 accounts that are more than 4 months.
(See complete conversation and new answers below)
Complete conversation
User: The accountant for Thomas’s Furniture Store is concerned regarding the outstanding receivable owed the company. There has been a cash flow problem and it is believed that the slow collection of accounts receivable is partially the blame. The accountant believes that 40% of the present accounts are more than 4 months behind in making payments. To be able to make a decision regarding this belief, a random sample of 100 accounts was taken. It was found that 37 accounts were more than 4 months late. Did the sample data confirm the accountant’s belief? Use the .05 significant level for the statistical test.

Weegy: I think they should run a thorough check on the accounts to see the if there is only 37 accounts that are more than 4 months.

User: Analysis of variance (ANOVA) is used to

Weegy: How to Calculate Variance Analysis. At the end of an accounting period, a ... Unexplained variance is a term used in analysis of variance (ANOVA). ANOVA is a ... [www.ehow.com/how_6407914_calculate-variance-analysis.html]

User: Mr. Thomas owns three different restaurants in Cincinnati, Ohio. He is concerned about the profitability of the restaurants. There are monthly differences between the restaurants and he wants to determine if the differences in profit are significant. Mr. Thomas wants to do a statistical test to see if he should be concerned. The best test to address this problem would be

Weegy: What are the choices/

User: a paired t- test B. two different t tests C. an ANOVA test D. a two sample test

Weegy: ... PAIRED! Therefore you have to compare the two samples by a paired t-test. ... different types of tests that you're going to run. The one we want to run is a two sample D. a two sample test

User: Sound engineers studied factors that might affect the output, in decibels, of a rock concert’s speaker system. The desired level of significance was a = .05. The results of their ANOVA tests are shown:

All Categories|No Subcategories|Expert answered|Rating 0| 10/30/2011 12:02:21 PM
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