Ten Visitors to an Art Gallery Are Asked to Rate

question 16

Multiple Choice

Ten visitors to an art gallery are asked to rate two sculptures for aesthetic value on a scale of 1(low value) to 5 (high value) What procedure would be used to test the hypothesis that the ratings are not significantly different?

• A) Mann-Whitney test
• B) Signed-rank test
• C) Friedman test
• D) Kruskal-Wallis test

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Definitions:

Conversion Costs

The combination of direct labor and factory overhead costs; in lean accounting, the account in which is accumulated the costs of direct labor and factory overhead.

Manufacturing Overhead Control

This involves managing and recording all indirect production costs associated with manufacturing operations, including utilities, maintenance, and equipment depreciation.

Backflush Accounting

A simplification of the accounting system by eliminating the accumulation and transfer of product costs by departments (intermediate departmental work in process accounts), but instead pulls the material and conversion costs directly to finished goods.

Work in Process Inventories

Items in various stages of production but not yet completed, representing a component of a manufacturer's inventory.