Instruction 9-7
Microsoft Excel Was Used on a Set $n = 46$

question 140

True/False

Instruction 9-7
Microsoft Excel was used on a set of data involving the number of parasites found in a random sample of 46 Blue Tiger butterflies captured in Kakadu National Park. A biologist wants to know if the mean number of parasites per butterfly is greater than 20. She will make her decision using a test with a level of significance of 0.10. The following information was extracted from the Microsoft Excel output for the sample of 46 butterflies:
$n = 46$ ; Arithmetic Mean $= 28.00$ ; Standard Deviation $= 25.92$ ; Standard Error $= 3.82$ ;
Null Hypothesis: $H _ { 0 } : \mu \leq 20.000 ; a = 0.10 ; \mathrm { df } = 45 ; T$ Test Statistic $= 2.09$ ;
One-Tailed Test Upper CriticalValue $= 1.3006 ; p$ value $= 0.021$ ; Decision $=$ Reject.
-Referring to Instruction 9-7,the biologist can conclude that there is sufficient evidence to show that the mean number of parasites per butterfly is greater than 20 with no more than a 5% probability of incorrectly rejecting the true null hypothesis.

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Definitions:

Allowance

In accounting, an estimate for future adjustments to accounts receivable, reflecting debts that might not be collectible.

Allowances for Doubtful Accounts

Allowances for doubtful accounts is a contra asset account used to estimate the portion of a company's receivables that may ultimately not be collectible.

Bad Debt Expense

Bad debt expense represents the loss that a company incurs when it is unable to collect receivables from customers who are unable to pay their debts.

Adjusting Entry

Refers to adjustments made in the books of accounts to record expenses or revenues that have occurred but are not accurately represented in financial statements.