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

question 33

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.
$$\begin{array}{l}\begin{array} { l l l l l r } \hline \text { Memory Location: } & 1 & 2 & 3 & 4 & 5 \\\hline \text { Number of Transactions: } & 82 & 100 & 74 & 92&102\\\text { Number of Reported Errors: } & 11 & 12 & 6 & 9 & 10\end{array}\end{array}$$
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 proportion of errors in transactions assigned to each of the 5 memory locations are not all the same.
• B) 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.
• C) there is insufficient evidence to conclude that the proportions of errors in transactions assigned to each of the 5 memory locations are all different.
• D) there is sufficient evidence to conclude that the proportions of errors in transactions assigned to each of the 5 memory locations are all different.

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Definitions:

Dividends

Payments made by a corporation to its shareholder members, distributing a portion of the company's earnings.

Objective of Accounting

The main purpose of accounting, which is to record financial transactions, summarize and report financial information accurately for decision making.

Decision Making

The cognitive process of selecting a course of action from multiple alternatives to achieve a desired goal.

Account Numbers

Unique identifiers assigned to individual accounts within a financial management system or bank.