Stable cost reporting in a manufacturing setting is typically a sign that operations are running smoothly....
Stable cost reporting in a manufacturing setting is typically a sign that operations are running smoothly. The accounting department analyzes the variance of the weekly costs reported by two of its production departments. A sample of 16 cost reports for each of the two departments shows cost variances of 2.6 and 5.8, respectively. Is this sample sufficient to conclude that the two production departments differ in terms of weekly cost variance? Use α = 0.10.
1. State the Null and Alternative hypotheses.
2. Find the value of test statistic (round answer to three decimal places)
3. Find the P-Value (round your answer to four decimal places).
4. State your conclusion (choose a thru d):
a. Reject H0. We can conclude that there is a difference between the population variances.
b. Do not reject H0. We cannot conclude that there is a difference between the population variances.
c. Do not reject H0. We can conclude that there is a difference between the population variances.
d. Reject H0. We cannot conclude that there is a difference between the population variances.
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Stable cost reporting
in a manufacturing setting is typically a sign that operations are
running smoothly....
Stable cost reporting in a manufacturing setting is typically a sign that operations are running smoothly....
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You may need to use the appropriate technology to answer this question. The accounting department analyzes the variance of the weekly unit costs reported by two production departments. A sample of 16 cost reports for each of the two departments shows cost variances of 2.6 and 5.5, respectively. Is this sample sufficient to conclude that the two production departments differ in terms of unit cost variance? Use a -0.10. State the null and alternative hypotheses. Hp: 0,2 +0,2 Mo: 0,202...
On the basis of data provided by a salary survey, the variance in annual salaries for seniors in public accounting firms is approximately 2.1 and the variance in annual salaries for managers in public accounting firms is approximately 12.1. The salary data were provided in thousands of dollars. Assuming that the salary data were based on samples of 25 seniors and 26 managers, test to determine whether there is a significant difference between the variances of salaries for seniors and...
The variance in a production process is an important measure of the quality of the process. A large variance often signals an opportunity for improvement in the process by finding ways to reduce the process variance Machine 1 Machinc 2 2.95 3.45 3.50 3.75 3.48 3.26 3.33 3.20 3.16 3.20 3.22 3.38 3.90 3.36 3.25 3.28 3.20 3.22 2.98 3.45 3.70 3.34 3.18 3.35 3.12 3.22 3.30 3.34 3.28 3.29 3.25 3.30 3.27 3.38 3.34 3.35 3.19 3.35 3.05 3.36...
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