Hypothesis testing is used in business to test assumptions and theories. These assumptions are tested against evidence provided by actual, observed data. A statistical hypothesis is a statement about the value of a population parameter that we are interested in. Hypothesis testing is a process followed to arrive at a decision between 2 competing, mutually exclusive, collective exhaustive statements about the parameter’s value.
Consider the following scenario: An industrial seller of grass seeds packages its product in 50-pound bags. A customer has recently filed a complained alleging that the bags are underfilled. A production manager randomly samples a batch and measures the following weights:
Weight, (lbs)
45.6     49.5
47.7     46.7
47.6     48.8
50.5     48.6
50.2     51.5
46.9     50.2
47.8     49.9
49.3     49.8
53.1     49.3
49.5     50.1
To determine whether the bags are indeed being underfilled by the machinery, the manager must conduct a test of mean with a significance level α = 0.05.
In a minimum of 175 words, respond to the following:

• State appropriate null (Ho) and alternative (H1) hypotheses.
• What is the critical value if we work with a significant level α = 0.05?
• What is the decision rule?
• Calculate the test statistic.
• Are the bags indeed being underfilled?
• Should machinery be recalibrated?

Due date is morning at 09 december. Please contact if you can give early by tonight.
`                                                             UCW – ACCT 621
Class Assignment #2
Criteria Guidelines
 

1. Project Assignment

 

• The intent of the assignment is to apply the concepts discussed in the Chapter 11 readings, specifically, cost-volume-profit.
• Due Date – beginning of class, one week from the date of issuance (via email addressed to myself through the UCW portal)
• Required:

 
Put together a recommendation/ set of changes to the Chow business plan introduced in class.  Identify areas that the plan was weak and introduce items that you believe would enhance the viability of the business.  When you are complete, identify the number of the customers that the restaurant would need to serve in order to break even.   As discussed in class, you may want to change the theme of the restaurant, introduce a new menu and/ or identify areas of cost containment.  Each of these areas will have an impact on your break even analysis and I will be looking at how these changes are reflected in your final conclusion – number of customers required.
Ideally, the assignment will have an executive summary, a couple pages for your insights and analysis, and an appendix, possibly with the updated financial statements.  Marks will be earned with originality, attention to detail, consistency of thought and focus, and level of professionalism (ie., writing quality/ font/ graphs, etc.) in communicating your findings.
 
While not required, you may introduce assumptions if the information within the business case incomplete.  The assumptions made should be identified and included in the written submission.  Grading of the assignment will consider the plausibility, detail and basis of the assumptions.
 
Based on your analysis, highlight areas that you believe the entity may pursue in order to expand/ grow its operations.  You may also consider areas that it may consider to minimize exposure to various risks. Grading will be based on the realism of your strategy.  This is optional, though an opportunity to score additional marks.
 

1. Marking scheme

 

• Written report = 10% of the overall class grade – will be graded based on logic/ realism, originality and ability to incorporate class concepts.
• Up to 5 pages in length, but could be greater if charts, pictures, etc. are included
• The appendix may include a new set of financial statements based on your assumptions
• Formatting will be considered, including a title page, executive summary, consistency in font, standard currency format (eg., $1,000 and not 1,000$), correct table alignment/ fit within pages, no abbreviations (except where previously defined, proper references (eg., APA or Chicago style)
• The course rubric is also provided below and will provide guidance for the overall marking scheme of this assignment.

 
 
Assessment Rubrics

Written Communication Assessment: Guideline
	1 Did not meet expectations	2 Met expectations	3 Exceeded expectations
Writing Conventions (grammar, word use, punctuation, mechanics)	Frequent grammatical errors and misspellings inhibit readability, Informal language, abbreviations and slang are used	Few grammatical errors and misspellings (e.g. three or fewer per page) Correct verb tense used Paragraphs flow from one to another Active voice pervasive	Free of grammatical errors and misspellings Effective verb tense used Uses phrases and construction that delight as well as inform the reader Primarily active voice
Overall Effectiveness of Piece (professional appearance, expression and format)	Not formatted to Specifications, Lacking professional appearance	Formatting is generally correct, acceptable professional appearance.	Assigned format followed explicitly: Exceptional professional appearance

 
Critical Thinking and Written Analyses Rubric – Scale Description/Guideline
 

Levels
Criteria	1 Did Not Meet Expectations	2 Met Expectations	3 Exceeded Expectations
Clarity	Writing is not clear. It is difficult to understand points being made. The writing lacks transitions, and few examples and/or illustrations are provided to support explanation or recommendations.	Writing is generally well organized and understood. Transitions are used to facilitate clarity. Some examples and/illustrations are used to support explanation or recommendations.	Writing is succinct, precise, effectively organized and without ambiguity. Transitions, explanation and elaboration are extensive to elucidate points. Detailed illustrations and/or examples are used to support explanation or recommendations.
Relevance	Critical issues/questions are omitted or ignored in the writing.	Most of the critical issues/questions are addressed in the writing.	All critical issues/questions are addressed completely in the writing
Depth of Discussion	Ignores bias; Omits arguments Misrepresents issues; Excludes data; Includes but does not detect inconsistencies of information; Ideas contain unnecessary gaps, repetition or extraneous details; Sees no arguments and overlooks differences	Detects bias; Recognizes arguments; Categorizes content; Paraphrases data; Sufficient detail to support conclusions and/or recommendations	Analysis includes insightful questions; Refutes bias; Discusses issues thoroughly; Critiques content; Values Information ; Examines inconsistencies; Offers extensive detail to support conclusions and recommendations; Suggests solutions or implementation
Breadth of Discussion	Omits arguments or perspectives; Misses major content areas/concepts; Presents few options	Covers the breadth of the topic without being superfluous	Considers multiple perspectives; Thoroughly delves into the issues/questions; Thoroughly discusses facts relevant to the issues
Integration of all Elements of Reasoning	Fails to draw conclusions or conclusions rely on author’s authority rather than strength of presentation; Draws faulty conclusions; Shows intellectual dishonesty	Formulates clear conclusions with adequate support	Assimilates and critically reviews information, uses reasonable judgment, and provides balanced, well justified conclusions
Internal Consistency	There is little integration across the sections of the paper. Several inconsistencies or contradictions exist. Few of the issues, recommendation and explanations make sense and are well integrated.	Sections of the paper are generally well linked/connected. Only minor contradictions exist. Most of the issues, recommendations and explanations make sense and are well integrated.	All sections of the paper are linked. There are no contradictions in the writing. All issues, recommendations and explanations make sense and are well integrated

 
Values:  Level 1:  10%, Level 2:  50% and Level 3: 100%
 
 
 

Question:
Please answer each of the following questions in detail. Provide in-text citations and include examples whenever applicable.
Explain departmental income statement and the criterion for division of indirect costs among departments. Provide a hypothetical example in which at least 3 indirect costs are divided among departments.
Note:
1. Define the words in the own words. Do not directly quote from the textbook.
2. Need to include hypothetical examples.
2. Need to write at least 1 pages (2 paragraphs) of the written part. (Exclude hypothetical example)
3. Need to include the information from the textbook as the reference.
4. Need to include at least 2 peer reviewed article as the reference.
5. Provide in-text citations and include examples whenever applicable. 
5. Please find the related power point and textbook in the attachment