Choose the One Alternative That Best Completes the Statement or Answers

question 32

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-The history department at a college asked its professors and students to rank 8 guest speakers according to their communication skills. The data are listed below. A 10 is the highest ranking and a 1 the lowest ranking. Find the critical values to test the hypothesis of no correlation between the rankings. Use $\alpha = 0.05$ .
$\begin{array}{lcccccccc}\hline \text { Speaker } & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 \\\hline \text { Professors } & 2 & 3 & 6 & 10 & 8 & 1 & 5 & 4 \\\text { Students } & 4 & 3 & 1 & 4 & 5 & 7 & 9 & 6\end{array}$

• A) \(\pm 0.738\)
• B) \(\pm 0.643\)
• C) \(\pm 0.881\)
• D) \(\pm 0.833\)

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Definitions:

Markup Percentage

The percentage added to the cost price of goods to cover overhead and profit, determining the selling price.

Total Cost Concept

A management accounting concept that includes all direct costs, indirect costs, fixed, and variable costs associated with producing and selling a product.

Contribution Margin

The amount remaining from sales revenue after variable costs have been deducted, indicating how much revenue contributes towards covering fixed costs and generating profit.

Contribution Margin

The difference between a company's sales revenue and its variable costs.