The Next Questions Are Based on the Following Information

question 56

Multiple Choice

The Next Questions Are Based On The Following Information:
A professor claims that the average score on a recent exam was 83.Suppose you want to test whether the professor's statement is correct.Assume that the test scores are normally distributed.You ask some people in class how they did,and record the following scores: 82,77,85,76,81,91,70,and 82.
-What are the null and alternative hypotheses?

• A)H₀ : μ = 83 and H₁ : μ > 83
• B)H₀ : μ = 83 and H₁ : μ < 83
• C)H₀ : μ = 83 and H₁ : μ ≠ 83
• D)H₀ : μ > 83 and H₁ : μ ≤ 83

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Definitions:

Overapplied Overhead

The condition where the amount of manufacturing overhead allocated to products exceeds the actual overhead costs incurred.

Cost of Goods

The total expense incurred in acquiring or manufacturing the products sold by a business, typically including raw materials and labor costs.

Job-Order Costing

A costing method used where each job is costed separately and includes all materials, labor, and overhead specific to that job.

Underapplied Overhead

This occurs when the actual manufacturing overhead costs incurred exceed the allocated manufacturing overhead cost.