Exhibit 9-2

question 99

Multiple Choice

Exhibit 9-2.The owner of a large car dealership believes that the financial crisis decreased the number of customers visiting her dealership.The dealership has historically had 800 customers per day.The owner takes a sample of 100 days and finds the average number of customers visiting the dealership per day was 750.Assume that the population standard deviation is 350. Refer to Exhibit 9-2.At the 5% significance level,the decision is to ___________.

• A)Reject H₀;we can conclude that the mean number of customers visiting the dealership is significantly less than 800
• B)Reject H₀;we cannot conclude that the mean number of customers visiting the dealership is significantly less than 800
• C)Do not reject H₀;we can conclude that the mean number of customers visiting the dealership is significantly less than 800
• D)Do not reject H₀;we cannot conclude that the mean number of customers visiting the dealership is significantly less than 800

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including material and labor costs.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, essential for calculating cost of goods sold during the period.

Ending Inventory

The cost of products on offer for buying by the close of an accounting cycle.

Income Statement Columns

The structured format in financial reporting that shows a company's revenues, expenses, and profitability over a specific time period.