Instruction 15-3
a Computer Used by a 24-Hour Banking Service

question 134

Multiple Choice

Instruction 15-3
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 15-3,at 1% level of significance

• A)there is sufficient evidence to conclude that the proportions of errors in transactions assigned to each of the five memory locations are all different.
• B)there is insufficient evidence to conclude that the proportion of errors in transactions assigned to each of the five memory locations are not all the same.
• C)there is insufficient evidence to conclude that the proportions of errors in transactions assigned to each of the five memory locations are all different.
• D)there is sufficient evidence to conclude that the proportion of errors in transactions assigned to each of the five memory locations are not all the same.

Identify and differentiate the roles and responsibilities of banks in the check collection process.

Comprehend the legal framework governing electronic fund transfers and digital transactions, including the application of Regulation E and the Electronic Fund Transfer Act.

Recognize the procedural aspects and legal implications of postdating checks, stop payment orders, and check certification under the UCC.

Grasp the concepts of draft, drawer, drawee, and payee within the context of negotiable instruments.

---

Definitions:

Triplet

A term relating to a quantum state where an atom or molecule has two unpaired electrons that have parallel spins, significant in spectroscopy and quantum mechanics.

NMR

Nuclear Magnetic Resonance, a spectroscopic technique used to observe local magnetic fields around atomic nuclei, providing detailed information about the structure, dynamics, and chemical environment of molecules.

Singlet

A term used in quantum mechanics and spectroscopy to describe a state in which all electrons in an atom or molecule are spin-paired, showing no magnetic field external to the system.

Doublet

In spectroscopy, a pattern indicating two closely linked energy levels or particles, often seen in NMR or EPR spectroscopy.