Before the Start of the Winter Olympics, It Was Expected

question 53

Essay

Before the start of the Winter Olympics, it was expected that the percentages of medals awarded to the top contenders to be as follows.
$\begin{array}{lc}&\text { Percentages }\\\text { United States } & 25 \% \\\text { Germany } & 22 \% \\\text { Norway } & 18 \% \\\text { Austria } & 14 \% \\\text { Russia } & 11 \% \\\text { France } & 10 \%\end{array}$ Midway through the Olympics, of the 120 medals awarded, the following distribution was observed.
$\begin{array}{ll}&\text { Number of Medals }\\\text { United States } & 33 \\\text { Germany } & 36 \\\text { Norway } & 18 \\\text { Austria } & 15 \\\text { Russia } & 12 \\\text { France } & 6\end{array}$ We want to test to see if there is a significant difference between the expected and actual awards given.
a. Compute the test statistic.
b. Using the p-value approach, test to see if there is a significant difference between the expected and the actual values. Let α = .05.
c. At 95% confidence, test for a significant difference using the critical value approach.

Identify and apply organizational tools for digital media (music, videos, photos).

Recognize the accessibility features available in multimedia applications.

Understand the file support and extensions for various media applications.

Know how to share digital content with others through different mediums.

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Definitions:

Safety Stock

Additional inventory held by a company to prevent stockouts, usually due to uncertainties in supply and demand.

Master Budget

A comprehensive financial plan that combines all of the individual budgets related to sales, costs, expenses, assets, and liabilities.

Merchandise Purchases Budget

A financial plan detailing the amount of goods that a retail or wholesale company plans to buy over a certain period to meet anticipated sales.

Cash Budget

A financial plan that estimates cash flows over a specified period, helping businesses manage their cash resources effectively.