TABLE 11-8
a Hotel Chain Has Identically Sized Resorts in 5

question 84

True/False

TABLE 11-8
A hotel chain has identically sized resorts in 5 locations. The data that follow resulted from analyzing the hotel occupancies on randomly selected days in the 5 locations.
$\begin{array}{llllll} \underline{\text {ROW}}& \underline{\text { Caymen}}& \underline{\text { Pennkamp }}& \underline{\text {California }}& \underline{\text {Mayaquez}}& \underline{\text { Maui }}\\ 1 & 28 & 40 & 21 & 37 & 22 \\2 & 33 & 35 & 21 & 47 & 19 \\3 & 41 & 33 & 27 & 45 & 25\end{array}$

$\begin{array}{l}\text { Analysis of Variance }\\\begin{array} { l r c c c c } \text { Source } & \text { df } & \text { sS } & \text { MS } & F & p \\\text { Location } & 4 & 963.6 & & 11.47 & 0.001 \\\text { Error } & 10 & 210.0 & & & \\ \text { Total } & & & & & \\\hline\end{array}\end{array}$

-Referring to Table 11-8, if a level of significance of 0.05 is chosen, the decision made indicates that at least 2 of the 5 locations have different mean occupancy rates.

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Definitions:

Accounting Cycle

A series of steps performed during an accounting period to analyze, record, classify, summarize, and report financial information, culminating in the preparation of financial statements.

Adjusted Trial Balance

A list of all the accounts of a company, showing the balance of each account after adjusting entries have been made for closing the period.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of a business, whichever is longer.

Reversing Entries

These are accounting journal entries that reverse a previous entry, usually made at the beginning of a new accounting period to simplify record-keeping.