There Are Different Approaches to Fitness Training Estimate with 95% Confidence the Difference in the Mean Percentage

question 92

Essay

There are different approaches to fitness training. To judge which one of two approaches is better, 200 25-year-old men were randomly selected to participate in an experiment. For four weeks, 100 men were trained according to approach 1 while the other 100 men were trained according to approach 2. The percentage improvement in fitness was measured for each man and the statistics shown below were computed. The percentage figures are known to be normally distributed. $$\begin{array} { | c | c | } \hline \text { Approach } 1 & \text { Approach } 2 \\\hline \bar { X } _ { 1 } = 27.3 & \bar { X } _ { 2 } = 33.6 \\\hline s _ { 1 } ^ { 2 } = 47.614 & s _ { 2 } ^ { 2 } = 28.09 \\\hline\end{array}$$ Estimate with 95% confidence the difference in the mean percentage improvement between approaches 1 and 2, and briefly describe what this interval estimate tells you.

Understand the necessity of accurate inventory recording and its impact on financial reporting.

Understand and perform calculations for inventory turnover, including industry comparisons.

Understand and apply FIFO, LIFO, and Average cost methods for inventory costing.

Identify and calculate the effects of inventory errors on financial statements.

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Definitions:

Factor Endowments

The quantity and quality of labor, land, and capital that a country possesses and can utilize for manufacturing.

Free Trade

A policy wherein a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports).

Tariffs

Government levies on goods brought into the country.

Import Quotas

Import Quotas are government-imposed limits on the quantity or value of goods that can be imported into a country, typically used to protect domestic industries and control trade balances.