Consider the Following to Answer the Question(s) Below

question 5

Multiple Choice

Consider the following to answer the question(s) below:
A company manufacturing computer chips finds that 8% of all chips manufactured are defective. Management is concerned that high employee turnover is partially responsible for the high defect rate. In an effort to decrease the percentage of defective chips, management decides to provide additional training to those employees hired within the last year. After training was implemented, a sample of 450 chips revealed only 27 defects. Was the additional training effective in lowering the defect rate?
-Which of the following statements is true about this hypothesis test?

• A) It is a two-tailed test about a proportion.
• B) It is a one-tailed test about a mean.
• C) It is a one-tailed test about a proportion.
• D) It is a two-tailed test about a mean.
• E) It is a two-tailed test about a standard deviation.

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Definitions:

Reversing Entries

Entries executed at the onset of an accounting cycle to annul or reverse the adjusting records that were established at the end of the last period.

Journal Entries

Recordings in accounting journals of the financial transactions made by a business, showing debits and credits for each transaction.

Salary Payroll

The total amount paid by an employer to its employees as salaries over a specified period.

Classified Balance Sheet

A balance sheet that groups assets, liabilities, and equity into subcategories for clearer understanding.