Instruction 15-5
a Computer Used by a 24-Hour Banking Service

question 3

Multiple Choice

Instruction 15-5
A computer used by a 24-hour banking service is supposed to randomly assign each transaction to one of five memory locations. A check at the end of a day's transactions gave the counts shown in the table to each of the five memory locations, along with the number of reported errors.
$$\begin{array} { | l | l | l | l | l | l | } \hline \text { Memory Location } & 1 & 2 & 3 & 4 & 5 \\\hline \text { Number of Transactions } & 82 & 100 & 74 & 92 & 102 \\\hline \text { Number of Reported Errors } & 11 & 12 & 6 & 9 & 10 \\\hline\end{array}$$ The bank manager wanted to test whether the proportion of errors in transactions assigned to each of the five memory locations differ.
-Referring to Instruction 15-5,the calculated value of the test statistic is

• A) -0.0185.
• B) 1.5190.
• C) -0.1777.
• D) 1.4999.

Understand the key components and differences in budget structures between merchandisers and manufacturers.

Identify and describe the roles and responsibilities within the budget preparation process in companies.

Match key budgeting terms with their definitions to understand various types of budgets and their purposes.

Comprehend the concept of a master budget and its significance as a comprehensive financial planning tool.

---

Definitions:

Recognizing Constraints

The process of identifying and acknowledging the limitations or restrictions that impact the efficiency and effectiveness of a system, project, or process.

Managing Constraints

The methodical process of identifying, analyzing, and addressing limitations that hinder achieving objectives in operations or projects.

Break Even

The point at which total revenues equal total costs, resulting in neither profit nor loss.

Variable Costs

Costs that change in proportion to the level of activity or volume of production in a business.