A Researcher Was Assessing Customer Satisfaction with MakeMebeautiful, a New

question 2

Multiple Choice

A researcher was assessing customer satisfaction with MakeMebeautiful, a new beauty product. He had a sample size of 75 and a p-value of 0.10. Does the researcher recommend that the company stop promoting this product?

• A)Yes, because statistical significance has nothing to do with sample size.
• B)No, because the sample size is large and therefore the p-values are accurate.
• C)Yes, because the sample has low confidence levels.
• D)No, because the sample size is small and p-values are easily affected by sample size.

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Definitions:

Income Summary

An account used in closing entries to collect the revenue and expenses for a specific accounting period before transferring the net result to capital.

Expenses

Costs incurred in the process of earning revenues, typically categorized as operating or non-operating.

Owner's Drawings

Withdrawals made by the owner of a sole proprietorship or partnership from the business for personal use.

Revenues

The total income generated from the sale of goods or services related to a company's primary operations.