SCENARIO 9-1 Microsoft Excel Was Used on a Set of Data Involving

question 110

True/False

SCENARIO 9-1
Microsoft Excel was used on a set of data involving the number of defective items found in a random sample of 46 cases of light bulbs produced during a morning shift at a plant.A manager wants to know if the mean number of defective bulbs per case is greater than 20 during the morning shift.She will make her decision using a test with a level of significance of 0.10.The following information was extracted from the Microsoft Excel output for the sample of 46 cases:

-Referring to Scenario 9-1,the manager can conclude that there is sufficient evidence to show that the mean number of defective bulbs per case is greater than 20 during the morning shift with no more than a 1% probability of incorrectly rejecting the true null hypothesis.

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Definitions:

Fixed Expenses

Costs that do not change with the level of production or sales activities, such as rent, salaries, and insurance.

Break-Even Sales

The amount of revenue from sales that is exactly equal to the sum of fixed and variable costs, resulting in no profit and no loss.

Break-Even Sales

The amount of revenue needed to cover all fixed and variable expenses, resulting in neither profit nor loss.

Foreign Division

A segment or branch of a company that operates in a country different from the company's headquarters, engaging in business activities outside its home market.