A Small Business Owner Uses an Excel Spreadsheet to Calculate

question 17

Multiple Choice

A small business owner uses an Excel spreadsheet to calculate the costs of various health insurance options for her employees. The individual annual premium is in cell B5. The employers monthly contribution is in Cell D9 and the monthly cost of the family option is in cell B6. Which multimath formula should be entered in Cell E9 to calculate the monthly premium for an employee who selects the individual-only healthcare?

• A) =(B5/12)+B6
• B) =(B5/12)-D9
• C) =B5-D9
• D) =B5+B6-D9

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Definitions:

Null Hypothesis

A default statement that there is no significant effect or difference, subject to testing against an alternative hypothesis.

Alternative Hypothesis

A hypothesis that contradicts the null hypothesis, indicating there is a significant difference between two or more sets of data.

Production Cost

Represents the total expense incurred in manufacturing a product or providing a service, including raw materials, labor, and overhead costs.

P-value

A statistical measure indicating the probability of obtaining the observed results, or more extreme results, assuming the null hypothesis is true.