A Test Was Made Of $H _ { 0 } : \mu _ { 1 } = \mu _ { 2 }$

question 9

Multiple Choice

A test was made of $H _ { 0 } : \mu _ { 1 } = \mu _ { 2 }$ versus $H _ { 1 } : \mu _ { 1 } < \mu _ { 2 }$ . The sample means were $\bar { x } _ { 1 } = 12$ and $\bar { x } _ { 2 } = 6$ , the sample standard deviations were $s _ { 1 } = 5$ and $s _ { 2 } = 4$ , and the sample sizes were $n _ { 1 } = 11$ and $n _ { 2 } = 19$ . Compute the value of the test statistic.

• A) 5.132
• B) 0.937
• C) 7.357
• D) 3.4

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Definitions:

Net Realizable Value

The estimated selling price of goods minus any costs associated with their sale or disposal.

Merchandise

Goods that are bought and sold in the course of business, often referred to in the context of retail or wholesale trading.

Lower of Cost or Market

An accounting principle stating that inventory should be recorded at either its historical cost or its market value, whichever is lower.

Inventory

Items such as raw materials, work-in-progress, and finished goods that a company holds for the purpose of sale in the ordinary course of business.