Data for a Factory -
__________________ Involves Calculating the Effect of Other Possibilities

question 41

Multiple Choice

Data for a factory
$\begin{array}{ll}\text { Total factory cost } & £ 10,000 \\\text { Total time au ailable on key resource (hours) } & 2,500 \\\text { Contribution per unit product A } & £ 34.00 \\\text { Contribution per unit product B } & £ 30.00 \\\text { Contribution per unit product C } & £ 22.00 \\\text { Contribution per unit product D } & £ 20.00 \\\text { Hours required product A } & 12.0 \\\text { Hours required product B } & 6.0 \\\text { Hours required product C } & 6.0 \\\text { Hours required product D } & 8.0\end{array}$

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__________________ involves calculating the effect of other possibilities

• A)Kaizen costing
• B)Sensitivity analysis
• C)Feasible region
• D)Shadow price

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Definitions:

Null Hypothesis

A hypothesis that suggests there is no statistical significance between the specified sets of observations, usually representing a statement of no effect or no difference.

Alternative Hypothesis

The hypothesis in a statistical test that proposes a difference or effect, opposing the null hypothesis, and is considered true if the null hypothesis is rejected.

Alternative Hypothesis

A statement that proposes a new theory or relationship, typically suggesting that there is a statistically significant effect or association between variables.

P-value

The likelihood of achieving outcomes as significant as, or more so than what was actually observed in the study, assuming the null hypothesis is true.