Sherry wishes to analyze accounting firms' revenues. In particular, she is concerned about whether there is...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sherry wishes to analyze accounting firms' revenues. In particular, she is concerned about whether there is a significant mean difference between the accounting firm revenues of 2021 and 2022. The number of firms analyzed for years 2021 and 2022 are 50 and 100 respectively, but not all the firms' revenues are the same in 2021. The sample mean accounting firm revenues for 2021 and 2022 are $200,000 thousand and $200,200 thousand respectively, while the sample variances accounting firm revenues for 2021 and 2022 are 1,000 and 1,800 respectively. Assume alpha= 0.05. Before Sherry conducts the hypothesis test about 2 means, she wishes to conduct a hypothesis test to determine if the variances are different. She identifies the critical value to be 1.53. 1) The test statistic for the hypothesis test about the ratio of 2 variances is. Round to two decimal place. 2) Using the results in question 1), what is the conclusion of the hypothesis test in question 1)? OA. Fail to reject the null hypothesis because the test statistic is less than the critical value. B. Reject the null hypothesis, because the test statistic is greater than the critical value. C. Reject the null hypothesis because the test statistic is less than the critical value. OD. Fail to reject the null hypothesis because the test statistic is greater than the critical value. 3) What type of error could you commit from your decision in question 2)? OA. Type 1 Error because the null hypothesis is rejected OB. Type 1 Error because the null hypothesis is not rejected OC. Type 2 Error because the null hypothesis is not rejected. O D. Type 2 Error because the null hypothesis is rejected 4) Based on the above analysis performed in questions 1-3), which test should Sherry perform to test the difference between 2 mean accounting firm revenues? OA. Pooled Variance T test OB. 2 Sample Proportion Z test OC. Separate Variance T test O D. Paired Variance T test 5) What type of test should Sherry Perform as stated in question 4)? OA. No Tail OB. Two Tail Sherry wishes to analyze accounting firms' revenues. In particular, she is concerned about whether there is a significant mean difference between the accounting firm revenues of 2021 and 2022. The number of firms analyzed for years 2021 and 2022 are 50 and 100 respectively, but not all the firms' revenues are the same in 2021. The sample mean accounting firm revenues for 2021 and 2022 are $200,000 thousand and $200,200 thousand respectively, while the sample variances accounting firm revenues for 2021 and 2022 are 1,000 and 1,800 respectively. Assume alpha= 0.05. Before Sherry conducts the hypothesis test about 2 means, she wishes to conduct a hypothesis test to determine if the variances are different. She identifies the critical value to be 1.53. 1) The test statistic for the hypothesis test about the ratio of 2 variances is. Round to two decimal place. 2) Using the results in question 1), what is the conclusion of the hypothesis test in question 1)? OA. Fail to reject the null hypothesis because the test statistic is less than the critical value. B. Reject the null hypothesis, because the test statistic is greater than the critical value. C. Reject the null hypothesis because the test statistic is less than the critical value. OD. Fail to reject the null hypothesis because the test statistic is greater than the critical value. 3) What type of error could you commit from your decision in question 2)? OA. Type 1 Error because the null hypothesis is rejected OB. Type 1 Error because the null hypothesis is not rejected OC. Type 2 Error because the null hypothesis is not rejected. O D. Type 2 Error because the null hypothesis is rejected 4) Based on the above analysis performed in questions 1-3), which test should Sherry perform to test the difference between 2 mean accounting firm revenues? OA. Pooled Variance T test OB. 2 Sample Proportion Z test OC. Separate Variance T test O D. Paired Variance T test 5) What type of test should Sherry Perform as stated in question 4)? OA. No Tail OB. Two Tail
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below ANSWER Here are the answers to your questions 1 The test statistic for the hypothesis test about the ratio of 2 variances is S22S12 1800100... View the full answer
Related Book For
Essentials Of Statistics For The Behavioral Sciences
ISBN: 9781133956570
8th Edition
Authors: Frederick J Gravetter, Larry B. Wallnau
Posted Date:
Students also viewed these general management questions
-
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
-
In Mark A. Cohen, The Costs and Benefits of Oil Spill Prevention and Enforcement, Journal of Environmental Economics and Management Vol. 13 (June 1986), an attempt was made to quantify the marginal...
-
Suppose that you are performing a one-tailed hypothesis test. "Assuming that everything else remains constant, a decrease in the test's level of significance () leads to a higher probability of...
-
Lisa Montgomery and Joel Chalmers established a coffee bean distribution business. Their partnership shared profits and losses based on an agreement that gave Lisa a salary allowance of $45,000 and...
-
What are the key characteristics of venture capital?
-
The following information was taken from the accounting records of the Lamberson Company: Additional information for the year: (a) Sales ............$ 39,930 Cost of goods sold .........(19,890)...
-
Strategic management is a popular method for running businesses which involves an analytical approach to setting goals and managing resources. Like strategic planning, strategic management often...
-
An air-filled parallel plate capacitor of length L, width a, and plate separation d has its plates maintained at constant potential difference Vo. If a dielectric slab of dielectric constant ?r is...
-
Which of the following is true regarding inheritance? a. When creating a subclass, all methods of the superclass must be overridden. b. When creating a subclass, no methods of a superclass can be...
-
Write a complete (Java) program that: . declares two int variables gets their values from the user computes the product of two values prints the two values and computed value to the screen in a...
-
You want to transmit a 2 5 0 , 0 0 0 byte file over a 2 Mbps connection, i . if all bandwidth is consumed by data ( no packet headers, no other traffic on the link, etc. ) and the maximum rate is...
-
Write a program that will read an integer input representing the 12 months in the calendar. Display the number of days in that month. Note that the only valid input is from 1 to 12. Display an...
-
7. After how many iterations does the following loop terminate, and what is the actual value of the variable n after the end of the loop? Please explain every loop iteration and keep track on the...
-
Determine the modulus of the logic circuit (counter) shown in figure below and write its counting sequence. Clock CP A A MSB B B 5-Bit Ring Counter C D CD E E LSB F J CPJK Flip Flop K I F Activ Go to
-
Perform the indicated calculation. 6 P4 A 30 B 24 C 2 D 360
-
I frequently use NY Times and CNN and am aware of Fox News but I never use it. I visit these sites, NY Times and CNN, a few times a week whenever I have to research something or see something on...
-
A population of scores forms a normal distribution with a mean of = 80 and a standard deviation of = 10. a. What proportion of the scores have values between 75 and 85? b. For samples of n = 4,...
-
Describe what is measured by the estimated standard error in the bottom of the independent-measures t statistic.
-
A sample of n = 10 scores has a mean of M = 9. One person with a score of X = 0 is removed from the sample. What is the value for the new sample mean?
-
A steel bar 20 mm diameter is loaded as shown in Fig. 13.11 (a). Determine the stresses in each part. 25kN A B C D 10kN 5 kN 20kN 200 mm 250 mm 150mm- (a)
-
A steel bar of 25 mm diameter is loaded as shown in Fig. 13.12 (a). Calculate the stress in each portion and the total elongation. Take \(E=200 \mathrm{GPa}\). B 30 kN 20 kN C D 15 kN -200mm 100 -300...
-
A stepped bar is loaded as shown in Fig. 13.13 (a). Calculate the stress in each part and total elongation. \(E=200 \mathrm{GPa}\). A B 25 mm+ 25 10 kN 4500mm 500mm (a) 20 mm 2 _ 750 mm D 5 kN
Study smarter with the SolutionInn App