TABLE 12-3 A Computer Used by a 24-Hour Banking Service Is Supposed

question 159

Multiple Choice

TABLE 12-3
A computer used by a 24-hour banking service is supposed to randomly assign each transaction to one of 5 memory locations. A check at the end of a day's transactions gave the counts shown in the table to each of the 5 memory locations, along with the number of reported errors.
The bank manager wanted to test whether the proportion of errors in transactions assigned to each of the 5 memory locations differ.
-Referring to Table 12-3, at 1% level of significance

• A) there is sufficient evidence to conclude that the proportions of errors in transactions assigned to each of the 5 memory locations are all different.
• B) there is insufficient evidence to conclude that the proportions of errors in transactions assigned to each of the 5 memory locations are all different.
• C) there is sufficient evidence to conclude that the proportion of errors in transactions assigned to each of the 5 memory locations are not all the same.
• D) there is insufficient evidence to conclude that the proportion of errors in transactions assigned to each of the 5 memory locations are not all the same.

Understand the calculation of unit product costs in a job-order costing system.

Analyze data to assess the efficiency and cost management within a job-order costing environment.

Understand the concept of job-order costing and how it is applied in manufacturing companies.

Calculate and understand the importance of predetermined overhead rates in job-order costing.

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Definitions:

Statistical Analysis

The process of collecting, exploring, and presenting large amounts of data to discover underlying patterns and trends.

Salary Cap

A limit on the amount of money that a sports team can spend on player salaries, usually imposed by the league to maintain competitive balance.

Stock-price Response

The reaction of a company's stock price to financial news, market events, or unanticipated occurrences affecting the business.

Corporate Dividend

Payments made by a corporation to its shareholders out of the company's profits or reserves.