A House Cleaning Service Claims That It Can Clean a Four

question 104

Multiple Choice

A house cleaning service claims that it can clean a four bedroom house in less than 2 hours. A sample of n = 16 houses is taken and the sample mean is found to be 1.97 hours and the sample standard deviation is found to be 0.1 hours. Using a 0.05 level of significance the correct conclusion is:

• A) reject the null because the test statistic (-1.2) is < the critical value (1.7531).
• B) do not reject the null because the test statistic (1.2) is > the critical value (-1.7531).
• C) reject the null because the test statistic (-1.7531) is < the critical value (-1.2).
• D) do not reject the null because the test statistic (-1.2) is > the critical value (-1.7531).

Understand the need for flexibility and adaptability in accounting information systems for effective decision making.

Comprehend the role and impact of technology on accounting information systems.

Acknowledge the importance of cost-benefit analysis in implementing and maintaining accounting information systems.

Recognize the essential need for professional judgment and basic knowledge of accounting systems by decision-makers.

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Definitions:

Real Interest Rate

The rate of interest an investor, saver, or lender receives (or expects to receive) after allowing for inflation.

Domestic Investment

The total amount of money invested within a country’s borders by both the private and public sectors.

Net Capital Outflow

In economic terms, it's the net flow of capital, both monetary and physical, out of a country, taking into account investments abroad minus foreign investments domestically.

National Saving

The total of private and public savings in a country, often considered as the sum of household, business, and government savings.