Suppose the Age Distribution of the Canadian Population and the Age

question 21

Multiple Choice

Suppose the age distribution of the Canadian population and the age distribution of a random sample of 406 residents in the Indian community of Red Lake are shown below. Use to test the claim that the age distribution of the general Canadian population fits the age distribution of the residents of Red Lake Village. Given a value of 10.369 for , find (or estimate) the P-value of the sample test statistic.
$$\begin{array} { l l l } & & \text { Observed Number } \\\text { Age (years) } & \text { Percent of Canadian Population } & \text { in Red Lake Village } \\\hline \text { Under } 5 & 5.9 \% & 13 \\5 \text { to } 14 & 10.6 \% & 31 \\15 \text { to } 64 & 72.4 \% & 318 \\65 \text { and older } & 11.1 \% & 44\\\hline\end{array}$$ $$\alpha = 0.1$$ $$\chi ^ { 2 }$$

• A)0.05 < P-Value < 0.10
• B)0.10 < P-Value < 0.25
• C)0.005 < P-Value < 0.01
• D)0.01 < P-Value < 0.025
• E)P-Value < 0.005

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Definitions:

Adjusting Entry

An accounting entry made in the books at the end of an accounting period to allocate revenues and expenditures to the period in which they actually occurred.

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded in the financial statements, representing future obligations.

Accrued Revenue

Revenue that has been earned but not yet received in cash or recorded by the accounting system.

Reversing Entries

Reversing entries are journal entries made at the beginning of an accounting period to negate the effects of certain adjustments made in the previous period.