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Answer the following questions using the information below:
Beat, Inc., expects to sell 60,000 athletic uniforms for $80 each in 2012. Direct materials costs are $20, direct manufacturing labor is $8, and manufacturing overhead is $6 for each uniform. The following inventory levels apply to 2011:
-How many uniforms need to be produced in 2012?
Expected Frequency
The theoretically calculated frequency of an event or outcome based on the probabilities in a statistical experiment, often compared to observed frequencies in chi-squared tests.
Test Statistic
A statistic calculated from sample data, used to determine whether to reject the null hypothesis.
Coin
A flat, typically round piece of metal with an official stamp, used as money.
Heads
One of the two possible outcomes when flipping a standard coin, the other being tails.
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