It Is Claimed That in a Bushel of Peaches,less Than

question 32

Multiple Choice

It is claimed that in a bushel of peaches,less than 10% are defective. A sample of 400 peaches is examined and 50 are found to be defective. What is the null hypothesis?

• A)H₀: π ≠ 0.10
• B)H₀: π ≥ 0.10
• C)H₀: π ≤ 0.10
• D)H₀: π < 0.10

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Definitions:

Inventory Turnover Ratio

A financial efficiency ratio that shows how many times a company has sold and replaced inventory over a period.

Days' Sales

A measure of how quickly a company can convert its inventory into sales, often used to assess liquidity and operational efficiency.

Inventory Management

The practice of overseeing and controlling the ordering, storage, and use of components that a company will use in the production of items it will sell, as well as overseeing and controlling quantities of finished products for sale.

Merchandise Inventory

The total value of a company's goods that are ready for sale at any given time, including both finished goods and goods in various stages of production.