Use the Following to Answer Questions 21-24

question 18

Multiple Choice

Use the following to answer questions 21-24:
A landscaping company hypothesizes that the median number of lawns they mow in a weekend is 20. They tabulated the number of lawns mowed in a random sample of 14 weekends. = .05) , taken from Table J in the text:
-What is the test value?

• A) 3
• B) 4
• C) 7
• D) 8

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Definitions:

Consignor

A person or company that sends goods to a consignee to be sold or returned, retaining ownership until sale.

Consignee

The party to whom goods are shipped and held in trust until they are sold, at which point payment is made to the consignor.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of the company in selling its products.

Cost of Goods Available for Sale

The total cost of merchandise or inventory that a business has available to sell to customers during a certain period, including both beginning inventory and purchases made during the period.