Data Were Collected on Annual Personal Time (In Hours) Taken

question 5

Multiple Choice

Data were collected on annual personal time (in hours) taken by a random sample of 16 women (group1) and 7 men (group 2) employed by a medium sized company. The women
Took an average of 24.75 hours of personal time per year with a standard deviation of 2.84
Hours. The men took an average of 21.89 hours of personal time per year with a standard
Deviation of 3.29 hours. The Human Resources Department believes that women tend to
Take more personal time than men because they tend to be the primary child care givers in
The family. The results of the test are t = 2.02 with an associated P-value of 0.0352. The
Correct conclusion at α = 0.05 is to

• A) reject the null hypothesis.
• B) fail to reject the null hypothesis.
• C) conclude that women take a higher average number of hours of personal time per year
• Compared to men.
• D) Both A and C.
• E) Both B and C.

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Definitions:

Target Net Profit

A specific financial goal for net income that a company aims to achieve within a certain period.

Contribution Margin Ratio

The ratio of contribution margin (sales minus variable costs) to sales revenue, showing the proportion of sales revenue that exceeds variable costs.

Price Increase

An adjustment in the cost of goods or services, typically resulting in consumers paying more for those items.

Contribution Margin Ratio

A financial metric that measures how much of a company's revenue is left over after variable costs are subtracted, expressed as a percentage of sales revenue.