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A manager believes that the shelf life of apple juice is normally distributed. A sample of 30 containers of juice was taken and the shelf life was recorded. You are given the results below. The average shelf life in the sample was 23.07 days with a standard deviation of 4.29 days.
a.State the null and alternative hypotheses.
b.Compute the test statistic for the goodness of fit test.
c.At 95% confidence using the p-value approach, test the hypotheses. What do you conclude about the distribution?
Permanent Accounts
Accounts in the general ledger that are not closed at the end of an accounting year and whose balances are carried forward to the next year.
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Accounts that report the financial position of a company, including assets, liabilities, and shareholders' equity, at a specific point in time.
Closing Process
The transfer process of converting temporary account balances to zero by transferring the revenue and expense account balances to the owner’s capital account, and transferring the owner’s drawing account balance to the owner’s capital account.
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An account used to track withdrawals made by the owner of a sole proprietorship from the business for personal use.
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