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.

photti|Points 149|

Expert answered|kikaycore|Points 1948|

Expert answered|josh_josue|Points 225|

Question

Asked 10/30/2011 12:02:21 PM

0 Answers/Comments

Rating

There are no new answers.

Weekly sales of iPods® at 20 Best Buy® stores are compared before and after installing a new eye-catching display. To determine if the display is effective in increasing sales, what type of statistical test would you perform? **Weegy:** The type of statistical text they perform is Comparison of means using a paired t-test. Thank you and have a great day. **User:** One hundred women were polled and 60 reported successfully communicating an automobile problem to an auto repairman. A sample of 150 men had 95 reporting the same success. The value of the test statistic for a test of the equality of proportions is **Weegy:** The value of the test statistic for a test of the equality of proportions is
z(0.6-95/150) = -0.03333/sqrt((0.6*.4)/100 + (0.6333*0.3667/150)) = -0.5319
A.
-0.5319.
**User:** When is it appropriate to use the paired difference t-test? **User:** A survey of hotels found that the average hotel room rate in New Orleans is $88.42 and the average room rate in Phoenix is $80.61. The survey sampled 50 hotels in each city. The standard deviations were $5.62 and $4.83, respectively. At alpha=.05, it can be concluded that there is a significant different in the rates?
**Weegy:** Sir/Madam Statistic is 7.45 **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:** Sir/Madam The accountant belief is conferred. (More)

Question

Expert Answered

Asked 10/30/2011 11:48:29 AM

0 Answers/Comments

Totto, an automobile manufacturer, has designed a radically new engine and wants to recommend the grade of gasoline that will have the best fuel economy. The four grades are regular, below regular, premium, and super premium. The test car made three trial runs on the test track using each of the grades and the miles per gallon were recorded. At the 0.05 level, what is the critical value of F used to test the hypothesis that the miles per gallon for each fuel are the same? **Weegy:** Study, pay attention in class, do your homework, ask questions if you don't understand, take notes, go to all review sessions with teachers. And, you will get high grades. Best of luck! (More)

Question

Expert Answered

Asked 10/30/2011 12:18:09 PM

0 Answers/Comments

18,451,545 questions answered

There are no comments.