The following data is available for the Cleaning Services Department of Amitol Co.
Required: Calculate departmental contribution to overhead for the Cleaning Services Department, including the department's contribution as a percentage of revenues.
Definitions:
P-Value
The probability of observing results at least as extreme as those in a data set, given that the null hypothesis is true.
Hypothesis Testing
A statistical method used to decide whether a hypothesis about a parameter in a population is supported by the data gathered from a sample.
Test Statistic
A numerical value employed in statistical hypothesis testing for deciding if the null hypothesis should be discarded.
Confidence Interval
A range of values, determined from sample statistics, that is believed to contain the true population parameter with a certain probability.
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