SCENARIO 12-10
the Management of a Chain Electronic Store Would

question 182

True/False

SCENARIO 12-10
The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars) for individual stores based on the number of customers who made purchases.A random sample of 12 stores yields the following results: $$\begin{array} { | l | c | } \hline \text { Customers } & \begin{array} { l } \text { Sales } \\\text { (Thousands of } \\\text { Dollars) }\end{array} \\\hline 907 & 11.20 \\\hline 926 & 11.05 \\\hline 713 & 8.21 \\\hline 741 & 9.21 \\\hline 780 & 9.42 \\\hline 898 & 10.08 \\\hline 510 & 6.73 \\\hline 529 & 7.02 \\\hline 460 & 6.12 \\\hline 872 & 9.52 \\\hline 650 & 7.53 \\\hline 603 & 7.25 \\\hline\end{array}$$
-Referring to Scenario 12-10, the p-value of the t test and F test should be the same when testing whether the number of customers who make purchases is a good predictor for weekly sales.

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Definitions:

Direct Labor Hour

The amount of time spent by employees directly working on producing goods or services.

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, used to manage labor costs more effectively.

Standard Rate

A predetermined cost or charge used as a benchmark in budgeting and pricing decisions.

Actual Rate

The real interest rate or cost rate applied in transactions, differentiating from theoretical or expected rates.