Instruction 10-4
a Real Estate Company Is Interested in Testing $\quad \bar { X } _ { \mathrm { G } } = 35$

question 64

Multiple Choice

Instruction 10-4
A real estate company is interested in testing whether the mean time that families in Gotham have been living in their current homes is less than families in Metropolis.Assume that the two population variances are equal.A random sample of 100 families from Gotham and a random sample of 150 families in Metropolis yield the following data on length of residence in current homes.
Gotham: $\quad \bar { X } _ { \mathrm { G } } = 35$ months, $\quad S _ { \mathrm { G } } ^ { }² = 900$
Metropolis: $\quad \bar { X } _ { M } = 50$ months, $\quad S _ { M ^ { 2 } } = 1,050$
-Referring to Instruction 10-4,suppose ? = 0.05.Which of the following represents the correct conclusion?

• A)There is not enough evidence that the mean amount of time families in Gotham have been living in their current homes is less than families in Metropolis.
• B)There is enough evidence that the mean amount of time families in Gotham have been living in their current homes is less than families in Metropolis.
• C)There is not enough evidence that the mean amount of time families in Gotham have been living in their current homes is not less than families in Metropolis.
• D)There is enough evidence that the mean amount of time families in Gotham have been living in their current homes is not less than families in Metropolis.

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Definitions:

Applied Overhead

Applied overhead refers to the portion of overhead costs allocated to specific products or departments based on estimated cost drivers.

Direct Material Cost

The expense of raw materials and components that are directly incorporated into a finished product.

Custom Machinery

Specialized equipment designed and built to meet unique production or operational requirements of a business.

Job Order Costing

An accounting method used to track costs and evaluate the profitability of individual jobs, suitable for companies that produce custom products or jobs.