Use a 005 Level of Significance to Test the Claim That the That

question 37

Essay

Use a 0.05 level of significance to test the claim that the sequence of computer-generated numbers is random. Test
for randomness above and below the mean. $$\begin{array} { l l l l l l l l l l l l l l l l l l l } 8 & 7 & 5 & 7 & 3 & 9 & 1 & 8 & 0 & 4 & 3 & 8 & 4 & 6 & 2 & 3 & 9 & 7 & 5\end{array}$$

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Definitions:

Fair Value

An approximation of the cost at which a liability or asset might be traded between informed, consenting parties in a fair transaction.

AASB 16

The Australian Accounting Standards Board standard concerning leases, requiring lessees to recognize assets and liabilities for most leases.

IFRS 16

An International Financial Reporting Standard that specifies how an organization should report leases in its financial statements.

Lease Receivable

An asset account that records the amounts due to the lessor from the lessee under the terms of a lease agreement.