In a One-Sample Z-Test,the Term "Statistically Significant Difference" Tells You

question 31

Multiple Choice

In a one-sample z-test,the term "statistically significant difference" tells you _____.

• A)your sample mean differs from the hypothesized value by more than would be expected from sampling error alone
• B)the difference between your sample mean and the hypothesized value is large and meaningful in the "real world"
• C)there is a non-zero correlation coefficient between your independent and dependent variables
• D)all of these

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Definitions:

Reconcile

A process of ensuring two sets of records (usually the balances of two accounts) are in agreement.

Variable Costing

A cost accounting method that encompasses solely variable costs involved in production (direct materials, direct labor, and variable manufacturing overhead) for product cost calculation.

Contribution Format

A type of income statement layout that separates fixed costs from variable costs to highlight the contribution margin.

Absorption Costing

An accounting method that includes all manufacturing costs, both fixed and variable, in the cost of a produced unit.