A Random Sample of 30 Executives from Companies with Assets

question 77

Multiple Choice

A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of education. The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The Mean Square Error (MSE) was 243.7. The following table summarized the results: Based on the comparison between the mean annual incomes for executives with undergraduate and master's degrees or more ________________.

• A)A confidence interval shows that the mean annual incomes are not significantly different.
• B)The ANOVA results show that the mean annual incomes are significantly different.
• C)A confidence interval shows that the mean annual incomes are significantly different.
• D)The ANOVA results show that the mean annual incomes are not significantly different.

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Definitions:

Accounts Payable

Money owed by a business to its suppliers or vendors for goods and services purchased on credit.

Operating Activities

Activities that relate to the principal revenue-producing activities of an entity and other activities that are not investing or financing activities.

Accounts Receivable

Debts owed by clients to a company for products or services that have been provided but remain unpaid.

Indirect Method

A way of calculating cash flows from operating activities in the statement of cash flows by adjusting net income for changes in balance sheet items.