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SCENARIO 10-13
The amount of time required to reach a customer service representative has a huge impact on customer satisfaction.Below is the Excel output from a study to see whether there is evidence of a difference in the mean amounts of time required to reach a customer service representative between two hotels.Assume that the population variances in the amount of time for the two hotels are not equal.
t-Test: Two-Sample Assuming Unequal Variances
Two-Sample Tests 10-41
-Referring to Scenario 10-13,suppose α = 0.05.Which of the following represents the result of the relevant hypothesis test?
Fixed Cost
Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and loan payments.
Variable
A variable is an element, feature, or factor that is liable to vary or change; in mathematics and statistics, it's a quantity that can assume any of a set of values.
Output
The aggregate production of goods or services by an enterprise, economic sector, or the entire economy.
AVC
Another term for average variable cost, emphasizing the costs that vary with the level of output produced.
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