It Has Been Hypothesized That on Average Employees Spend One

question 124

Essay

It has been hypothesized that on average employees spend one hour a day playing video games at work.To test this at her company,a manager takes a random sample of 35 employees,who showed a mean time of 55 minutes per day with an assumed population standard deviation of 5 minutes.Calculate a confidence interval to test the hypotheses that the employees spend a different amount of time from one hour (60 minutes)at α = .02 and interpret.

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Definitions:

Equity Method

This involves documenting investments when the investor holds substantial influence over the entity being invested in, without having total control.

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the premium paid over the fair market value of the net identifiable assets.

Retrospectively Apply

The action of applying a new accounting policy to transactions, other events, and conditions as if that policy had always been applied.