SCENARIO 12-21 A Filling Machine at a Local Soft Drinks Company Is

question 71

True/False

SCENARIO 12-21
A filling machine at a local soft drinks company is calibrated to fill the cans at a mean amount of 12
fluid ounces and a standard deviation of 0.5 ounces. The company wants to test whether the standard
deviation of the amount filled by the machine is 0.5 ounces. A random sample of 15 cans filled by
the machine reveals a standard deviation of 0.67 ounces.
-Referring to Scenario 12-21, the decision is to reject the null hypothesis when
using a 10% level of significance.

---

Definitions:

Adjust Salaries

The process of modifying the amount of wages or salaries paid to employees, which may be done for reasons such as performance appraisals or inflation adjustments.

Liabilities

Liabilities are financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.

Assets

Assets belonging to a company or person, anticipated to yield benefits in the future.

Adjusting Entries

Adjusting entries are journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.