A company that operated 10 hours a day manufactures two products on three sequential processes. The following table summarizes the data for the problem:
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- If during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took 15 hours to make a unit. If the process makes one unit each hour on average and each unit is worth $1,500, what is the reduction in work-in- process value?Accounting procedures allow a business to evaluate its inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO - LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method. The company wishes to test this hypothesis at the 0.05 level of significance. Product 1 2 4 5 FIFO (F) LIFO (L) 228 220 122 101 105 117 215 205 250 246 What is the value of the test statistic? Multiple Choice +0.70 13.002 +2.358 +1159
- Q. 1 The discharge analysis report of Anywhere Health Care Facility shows 1752 discharges (including deaths) for October 2020. Fifty-two deaths were also shown in the report. Find gross death rate. Q. 2 Inpatient deaths at Anywhere Health Care Facility for 2020 totalled 150. Inpatient deaths that occurred less than 48 hours after admission to the facility totalled 75. Total discharges (including deaths) were 25,546. Calculate net death rate. Q. 3 Anywhere Health Care Facility performed 692 surgical procedures during March and administered 652 anaesthetics. Deaths resulting from the administration of an anaesthetic totalled five for the month. Find Anaesthesia death rate. Q. 4 Surgery was performed on 492 patients in the Anywhere Health Care Facility during March, and 27 of those patients died within 10 days of surgery. Find Postoperative death rate. Q.5 In the month of June 4500 inpatients days were served in a hospital with 150 beds. Calculate the percentage of inpatient occupancy…Accounting procedures allow a business to evaluate its inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO-LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method. The company wishes to test this hypothesis at the 0.05 level of significance. Product 1 2 3 4 5 FIFO (F) 225 123 101 212 253 LIFO (L) 216 105 116 202 250 What is the value of the test statistic?A company that operated 10 hours a day manufactures two products on three sequential processes. The following table summarizes the data for the problem: Please answer the two questions
- Accounting procedures allow a business to evaluate its inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO minus LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method. The company wishes to test this hypothesis at the 0.05 level of significance. Product FIFO (F) LIFO (L) 1 229 220 2 122 102 3 103 114 4 214 203 5 252 247 What is the value of the test statistic? Multiple Choice +1.338 ±3.181 +0.87 +2.537Accounting procedures allow a business to evaluate its inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIIFO methods. To analyze the difference, they computed FIFO - LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method. The company wishes to test this hypothesis at the 0.05 level of significance. Product FIFO (F) LIFO (L) 1 225 221 121 103 3 100 117 215 253 4 204 5 248 What is the value of the test statistic? Multiple Cholce +1.916 +0.717 +2.560 +0.25Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO − LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method. Product FIFO (F) LIFO (L) 1 225 221 2 119 100 3 100 113 4 212 200 5 248 245 What is the null hypothesis? Multiple Choice H0: µd = 0 H0: µd ≠ 0 H0: µd ≤ 0 H0: µd ≥ 0
- Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO − LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method. Product FIFO (F) LIFO (L) 1 225 221 2 119 100 3 100 113 4 212 200 5 248 245 a) What are the degrees of freedom? A) 4B) 5C) 15D) 10 b) If you use the 5% level of significance, what is the critical t-value? A) +2.132 B) ±2.132 C) +2.262 D) ±2.228 c) What is the value of calculated t? A) +0.933 B) ±2.776 C) +0.47 D) −2.028 d) What is the decision at the 5% level of significance? A) Fail to reject the null hypothesis and conclude LIFO is more effective. B) Reject the null hypothesis and conclude…How many units of Product 2 should be produced to achieve the optimum solution? * O 12.14 14.12 O 20 O 12Accounting procedures allow a business to evaluate its inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO − LIFO for each product. Based on the following results, does the LIFO method result in a lower cost of inventory than the FIFO method? Product FIFO (F) LIFO (L) 1 225 221 2 119 100 3 100 113 4 212 200 5 248 245 This example is what type of test? A) A one-sample test of meansB) A two-sample test of meansC) A paired t-testD) A test of proportions