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. 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 means B) A two-sample test of means C) A paired t-test D) A test of proportions

Profitability remains a challenge for banks and thrifts with less than​ $2 billion of assets. The business problem facing a bank analyst relates to the factors that affect return on assets​ (ROA), an indicator of how profitable a company is relative to its total assets. Data collected from a sample of 194 community banks include the ROA​ (%), the efficiency ratio​ (%), as a measure of bank productivity​ (the lower the efficiency​ ratio, the​ better), and total​ risk-based capital​ (%), as a measure of capital adequacy. A multiple linear regression model resulted in an SSR of 5.25 and an SSE of 125.02.   Calculate the test statistic.   FSTAT=____________ ​(Round to two decimal places as​ needed.)

Example 5 The highlights of the Railway budget for 1983-84 are as follows. The actual gross traffic receipts for 1981-82 was Rs. 3,538.24 crores. The Budget Estimates for 1982-83 in regard to Gross traffic receipts was Rs. 4,171.8 crores and the revised Budget Estimate for 1982-83 for the above item is Rs. 4,375.79 crores respectively. Whereas the budget estimates for 1983-84 for Gross traffic receipts is Rs. 5,343.63 crores, the actual total working expenses and the net railway revenue for 1981-82 were Rs. 3,182.05 crores and Rs. 403.1 crores respectively. The Budget Estimates and Revised Budget Estimates for 1982-83 in respect of total working expenses are Rs. 3,700.90 crores and Rs. 3,892.28 crores respectively. Whereas the corresponding estimates for 1982-83 in respect of net-railway revenue are Rs. 510.91 crores and Rs. 533.4 crores respectively, the estimated budget on total working expenses and net railway revenue for 1983-84 exceed the actuals for 1981-82 by Rs. 1,338.72 crores…

Morning House is a mail-order firm which carries a wide range of rather expensive art objects for homes and offices. It operate problems would be greatly reduced. Since it takes approximately six weeks to receive 90% of the response to a given campaign, an accurate prediction of total sales made as late as the end of the first week of receiving orders would be useful. The first week’s sales and total sales of the last 12 campaigns of the firm are shown below. Can the first week’s sales be used to predict total sales? First week’s Total Campaign Sales Sales 1 32 167 2 20 91 3 114 560 4 66 335 5 18 70 6 125 650 7 83 401 8 65 320 9 94 470 10 5 15 11 39 210 12 50 265 --------------------------------------------