A Researcher Hypothesizes That the Variation in the Amount of Money

question 31

Multiple Choice

A researcher hypothesizes that the variation in the amount of money spent on business dinners is greater than the amount spent on lunches. The variance of the cost of nine business dinners (in US$) was 6.12 and the variance on 12 lunches was 0.87. What test value should be used in an F test?

• A) 2.65
• B) 9.61
• C) 49.5
• D) 7.03

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Definitions:

Total Quality Management

A comprehensive approach to long-term success that views continuous improvement in all aspects of an organization's operations as a process and not as a short-term goal.

Balanced Scorecard

A method for planning and managing strategy that aligns organizational activities with its vision and strategy, enhances communication both internally and externally, and tracks progress towards achieving strategic objectives.

Work In Process

Refers to the inventory of unfinished goods that are in the process of being manufactured.

Total Manufacturing Costs

The sum of all expenses directly involved in the production of goods, including raw materials, labor, and overhead.