Marc Wants to Know If the Mean Age of the Employees

question 43

Multiple Choice

Marc wants to know if the mean age of the employees at his company is less than 26 years.He obtains a random sample of 100 employees,and finds a mean age of 25.1 years and a standard deviation of 9.2 years.

• A)Fail to reject the null hypothesis of μ = 26 with a P-value of 0.1635.There is not sufficient evidence that the mean age is less than 26 years.
• B)Reject the null hypothesis of μ = 26 with a P-value of 0.0425.The evidence suggests that the mean age is less than 26 years.
• C)Fail to reject the null hypothesis of μ = 26 with a P-value of 0.8365.There is not sufficient evidence that the mean age is less than 26 years.
• D)Reject the null hypothesis of μ = 26 with a P-value of 0.018.There is sufficient evidence that the mean age is less than 26 years.
• E)There is not enough information to perform the test.

Comprehend the principles of fractional-reserve banking and its implications for the money supply.

Recognize the tools and mechanisms used by the Federal Reserve to influence the money supply and banking operations.

Understand the impact of reserve requirements on the banking system and the overall money supply.

Analyze the role and effects of monetary policy in economic situations, including crisis management.

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Definitions:

Productive Capacity

The maximum output or production level that can be achieved with the available inputs and resources without stressing the production system.

Direct Method

A method for presenting cash flows related to operating activities, highlighting the main categories of gross cash inflows and outflows.

Operating Activities

Activities that are directly related to the operation of the business, such as sales, services, and administrative tasks, distinguishing them from investing and financing activities.

Economic Benefits

Inflows of assets or reductions in liabilities that result in an increase in equity, other than those relating to contributions from equity participants.