The Contents of a Sample of 26 Cans of Apple

question 43

Multiple Choice

The contents of a sample of 26 cans of apple juice showed a standard deviation of .06 ounces. We are interested in testing whether the variance of the population is significantly more than .003. At the .05 level of significance, the null hypothesis

• A) should be rejected.
• B) should not be rejected.
• C) should be revised.
• D) should not be tested.

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Definitions:

Credit Balance

A situation where the total credits in an account exceed the total debits; often indicates amounts owed by a business.

Debit Balance

A financial statement condition where debits exceed the amount of credits in an account.

Unsecured Loan

A loan that doesn't require any collateral and is based primarily on the borrower's creditworthiness and ability to repay.

Beginning Inventory

The price of merchandise available for purchase at the commencement of a fiscal period.