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SCENARIO 9-9
The president of a university claimed that the entering class this year appeared to be larger than the entering class from previous years but their mean SAT score is lower than previous years.He took a sample of 20 of this year's entering students and found that their mean SAT score is 1,501 with a standard deviation of 53.The university's record indicates that the mean SAT score for entering students from previous years is 1,520.He wants to find out if his claim is supported by the evidence at a 5% level of significance.
-Referring to Scenario 9-9,which of the following best describes the Type I error?
Unadjusted Balance
The initial balance of an account before any adjustments or corrections are made for accounting purposes.
Inventory
includes goods and materials a business holds for the purpose of resale or as part of its production process.
Year-End
The end of a financial year, a period used for accounting purposes and preparing financial statements.
Adjusting Entries
Entries made in the accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.
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