Read the Following Then Choose the Appropriate Test and Name

question 46

Multiple Choice

Read the following then choose the appropriate test and name the population(s) . A researcher asks random samples of men and women whether they had purchased organically grown food in the last three months. He wants to determine whether the proportion of women who purchase organically grown food is greater than the proportion of men who purchase organically grown food.

• A)Two- proportion z- test; one population is all adults who buy organically grown food and the other population is all adults who do not buy organically grown food.
• B)Two- proportion z- test; one population is all men and the other population is all women.
• C)One- proportion z- test; the population is all men.
• D)One- proportion z- test; the population is all women.

Understand the basics and application of predetermined overhead costs in management accounting.

Recognize the difference between standard and actual costs, and their relevance to budgeting and forecasting.

Understand the selection criteria and applications of costing systems in manufacturing processes.

Comprehend the accounting treatment of normal and abnormal spoilage in cost accounting.

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Definitions:

Monetary Policy

The process by which a central bank, currency board, or monetary authority controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and trust in the currency.

Fiscal Policy

Government policies related to taxation and spending that aim to influence the economy, manage inflation, and stimulate economic growth.

Restrictive Fiscal Policy

Fiscal measures implemented by a government to reduce its spending and/or increase taxes with the aim of slowing down an overheating economy.

Economic Plunge

A sudden and sharp decline in economic activity, often characterized by a decrease in GDP, investment, and employment.