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i. The sum of the expected frequencies in a goodness-of-fit test need not equal the sum of the observed frequencies.
ii. A goodness-of-fit test is a nonparametric test involving a set of observed frequencies and a corresponding set of expected frequencies.
Iii) For a goodness-of-fit test, the following are possible null and alternate hypotheses; Null: Sales are uniformly distributed among the five locations.; Alternate: Sales are not uniformly distributed among the five locations.
Machine-Hours
A measure of the amount of time a machine is operated in the production process, used as a basis for allocating manufacturing overhead.
Markup
The sum added onto the purchase price of merchandise to cover both overhead expenses and profit, ultimately setting the retail price.
Predetermined Overhead Rate
A calculated rate used to assign overhead costs to products or services, based on estimated costs and activity levels.
Machine-Hours
The total time that machines are running in a production process, often used as a basis for allocating manufacturing overhead costs.
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