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Use the following data for the next questions. Biologists, researching the effects
of adding limestone sand as buffer for acid rain effects in streams, monitored the
pH levels of two streams each month for 36 months. The first stream had a mean
pH level of 6.8 with a standard deviation of 2.3. The control stream had a mean pH
level of 9.2 with a standard deviation of 1.5. Assume a .05 significance level for
testing the claim that the mean pH of the first stream was less (more acidic) than
the mean pH of the control stream. Also, assume the two samples are independent
simple random samples selected from normally distributed populations.
-Find the t test statistic.
GAAP
Generally Accepted Accounting Principles; a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements.
Accounting Standards
Formal guidelines and principles designed to improve the transparency and consistency of financial reporting and accounting practices.
Financial Statements
Financial statements are formal records of an entity's financial activities and position, including the balance sheet, income statement, and cash flow statement.
FASB
The Financial Accounting Standards Board, an organization responsible for establishing accounting and financial reporting standards in the United States.
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