The Manager of a Grocery Store Wants to Determine Whether

question 1

Multiple Choice

The manager of a grocery store wants to determine whether the amount of water contained in a 1L bottle purchased from a known manufacturer actually averages to 1L. It is known from the manufacturer's specifications that the standard deviation of the amount of water is equal to 0.02L. A random sample of 32 bottles is selected, and the mean amount of water per 1L bottle is found to be 0.995L.
-The test statistic is _____.

• A)-2.83
• B)-1.41
• C)-2.00
• D)2.83
• E)1.41

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Definitions:

Working Capital Policy

It refers to the strategy a company employs to manage its current assets and liabilities to ensure it has enough liquidity to run its operations efficiently.

Accounts Payable

Short-term financial obligations that a company owes to its suppliers or vendors for goods and services received.

Trade Credit Discounts

Reductions in price offered by suppliers to buyers as an incentive for early payment within a specified period.

Short-term Financing

Refers to borrowing options available to businesses for a period typically less than one year, to fulfill immediate financial needs.