A Waitress Is Interested in Whether She Receives Larger Tips

question 29

Multiple Choice

A waitress is interested in whether she receives larger tips in general from her male customers than her female customers. She records the gender of the customer who paid the bill and the amount of the tip over a two-day period. Statistically speaking, the "noise" in this research scenario would be

• A) the difference between the average tip amounts received on the first and second days.
• B) the fluctuation in tip amounts received from male customers during the two-day period.
• C) the difference between the average tip amounts received from the male and female customers.
• D) the fluctuation in tip amounts received from the male and female customers.

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Definitions:

Gross Profit Method

An inventory estimating method that calculates cost of goods sold based on gross profit margin, used for interim financial statements or when inventory is destroyed.

Gross Margin Ratio

A financial metric that indicates the percentage of sales revenue remaining after deducting the cost of goods sold (COGS), used to assess a company's financial health.

Financial Statements

Reports that detail the financial performance of a company, typically including the balance sheet, income statement, and cash flow statement.

LIFO

A method to value inventory that assumes the latest items added to inventory are the first ones used or sold.