TABLE 12-13 Recent Studies Have Found That American Children Are More Obese

question 98

Multiple Choice

TABLE 12-13
Recent studies have found that American children are more obese than in the past. The amount of time children spent watching television has received much of the blame. A survey of 100 ten-year-olds revealed the following with regards to weights and average number of hours a day spent watching television. We are interested in testing whether the mean number of hours spent watching TV and weights are independent at 1% level of significance.

-Referring to Table 12-13, which of the following statements is correct?

• A) We cannot reject the null for any level of significance greater than 0.005.
• B) We can reject the null for any level of significance greater than 0.005.
• C) We cannot reject the null for any level of significance smaller than 0.005
• D) We can reject the null for any level of significance smaller than 0.005.

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Definitions:

Standard Cost Variances

Differences between the estimated costs to produce a good or service and the actual costs incurred.

Cost of Goods Sold

The direct costs associated with producing goods that have been sold, including materials and labor.

Standard Cost System

An accounting method that uses predetermined costs for products and services to help managers control expenses and operations.

Labor Rate Variance

The variance between the real labor expenses and the anticipated (or benchmark) cost.