The Owner of a Local Nightclub Has Recently Surveyed a Random

question 62

Multiple Choice

The owner of a local nightclub has recently surveyed a random sample of n = 250 customers of the club. She would now like to determine whether or not the mean age of her customers is over 30. If so, she plans to alter the entertainment to appeal to an older crowd. If not, no entertainment changes will be made. If she wants to be 99% confident in her decision, what rejection region should she use?

• A) Reject H₀ if t < -2.3263.
• B) Reject H₀ if t < -2.5758.
• C) Reject H₀ if t > 2.3263.
• D) Reject H₀ if t > 2.5758.

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Definitions:

Fixed Budget Performance Reports

Financial reports comparing actual results to a plan that does not change, regardless of the level of activity.

Actual Results

The real, measured outcomes of financial or operational activities within a given period.

Fixed Budget

A financial plan that does not change or fluctuate with the volume of business activity.

Standard Costs

Predetermined costs for the production of goods or services, used as benchmarks to measure actual performance and manage costs.