Reports Completed by Independent Truck Drivers Indicate That the Mean

question 52

Multiple Choice

Reports completed by independent truck drivers indicate that the mean amount of diesel fuel purchased per week is 346 gal, with a standard deviation of 23.6 gal.Truck managers use this information to plan work schedules and to order gasoline supplies.A random sample of 20 independent truck drivers was obtained and their average weekly gas purchases had a sample standard deviation of 11.7712 gal.Is there any evidence to suggest that the true population variance in diesel fuel purchased each week is different from 556.96? State the TS and decision from the test, using α = 0.05.

• A) TS = 4.7268; fail to reject H₀
• B) TS = 4.7268; reject H₀
• C) TS = 9.4768; fail to reject H₀
• D) TS = 9.4768; reject H₀

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Definitions:

Permanent/Temporary

Terms distinguishing between accounts that are not closed out or reset at the end of the accounting year (permanent accounts) and those that are (temporary accounts).

Normal Balance

The standard side (debit or credit) on which increases to an account are recorded.

Financial Statement

Reports that summarize the financial condition and operations of a business.

Permanent/Temporary

Conceptual labels for different types of accounts in accounting, with permanent accounts being those that carry their balances into the next accounting period and temporary accounts being closed at the end of each period.