For land to be taken by the government under its right of eminent domain, "the taking must be for a public use" (option A).
Eminent domain is the right of the government to seize private property for public use after providing fair compensation to the landowner. The government's right to use eminent domain is derived from the Fifth Amendment to the United States Constitution, which states that private property cannot be taken for public use without fair compensation.
For land to be taken by the government under its right of eminent domain, the following must apply:
1. The taking must be for a public use: The government must demonstrate that the seizure is in the public interest.
2. There must be fair compensation: The landowner must be provided with fair compensation for the property taken.
3. There must be statutory dedication: The government must use an authorized legal procedure for condemnation.
4. There must be constructive notice: The landowner must be given reasonable notice of the intended seizure.
So, option A is the correct answer.
You can learn more about eminent domain at
https://brainly.com/question/4281421
#SPJ11
Responsibility for setting all audit standards to be followed on audit's of public companies rests with the ______. multiple choice question. pcaob fasb gasb asb
Responsibility for setting all audit standards to be followed on audit's of public companies rests with the PCAOB. The Public Company Accounting Oversight Board is a nonprofit corporation established by the Sarbanes-Oxley Act of 2002 to oversee audits of public companies and other issuers in order to protect investors' interests .
Advance public interest in the preparation of informative, accurate, and independent audit reports. To improve investor protection, the PCAOB also regulates broker-dealer audits, including compliance reports filed under federal securities laws. The US Securities and Exchange Commission must approve all rules and standards The PCAOB oversees these auditors through four major functions: registration, inspection, standard-setting, and enforcement.
To learn more about audits, click here.
https://brainly.com/question/14652228
#SPJ4
Jake and Latasha Lalime live in Swarthmore, PA. Latasha's father, Musashi, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M).
A. Latasha gets a new video camera made in the United States.
B. Latasha's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
C. Jake's employer upgrades all of its computer systems using U.S.-made parts.
D. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
E. Jake buys a bottle of Italian wine.
Answer:
a. consumption
b. export
c. Investment
d. Government spending
e. consumption, import
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceeds import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
Latasha's purchase of the made in US video camera would be added as part of consumption spending by households on durable goods.
Latasha's father's purchase of Vermont syrup would be added as export in US's GDP. Export are goods that are sold to other countries.
government purchases includes all of the government spending.
the computer upgrade would be added a part of investment. Investment includes all of business spending.
Jake imported the wine, so it would be recorded as import and also as part of consumption spending on non durable goods
Cost-volume-profit analysis identifies and measures costs using their _____ components: multiple choice fixed variable mixed fixed and variable
Cost-volume-profit analysis is a management accounting tool that helps businesses in understanding the relationship between costs, volume, and profits. It uses different cost components such as fixed, variable, and mixed fixed and variable costs to identify and measure costs.
Fixed costs remain constant irrespective of the volume of goods or services produced. Variable costs, on the other hand, vary with the volume of production. Mixed fixed and variable costs include elements of both fixed and variable costs. By analyzing these cost components, businesses can determine the breakeven point, contribution margin, and net profit of their operations, which can be useful in making strategic decisions. Fixed costs remain constant regardless of the production level, while variable costs change proportionally with production volume. By analyzing these two components, businesses can make informed decisions on production levels, pricing, and cost control to maximize profitability.
To know more about profit analysis visit:
https://brainly.com/question/24279213
#SPJ11
as part of the consolidation statement preparation process for a parent and subsidiary, the subsidiary's asset, liability, revenue, and expense balances are added to the
Parent's corresponding balances, This consolidation process involves combining the financial statements of the parent company and its subsidiary to present a consolidated financial statement that represents the financial position and performance of the entire consolidated entity
To prepare the consolidation statement, the subsidiary's individual asset, liability, revenue, and expense balances are added to the parent's corresponding balances. The consolidation process typically includes eliminating any intercompany transactions and balances to avoid double counting and to present a true picture of the consolidated entity. Intercompany transactions refer to transactions between the parent and subsidiary, such as sales, purchases, and loans. These intercompany balances are eliminated to avoid overstating or understating the consolidated financial statement figures. By adding the subsidiary's balances to the parent's balances and making necessary adjustments, the consolidation statement provides a comprehensive view of the combined financial position and results of the parent and subsidiary as if they were a single entity.
Learn more about consolidation process here: brainly.com/question/32350912
#SPJ11
Which of the following is true of an unsecured loan?
A. They are exclusively for cars, houses, and other large purchases
B. Collateral could be collected by the lender if the debt is not paid
C. They never have any interest added onto them
D. Items of value that the borrowers owns are not at risk of repossession
Answer:
B
Explanation:
The statement "The value of an item where the borrowers owned but they are not at the repossession risk" is to be true.
The unsecured loan is the type of loan in which there is no need for any type of collateral property.
The lender does not takes the assets of the borrower as the security but it gives the approval of an unsecured loan depends upon the creditworthiness of the borrower.
Examples are:
Personal loans.Students loans.Credit cards.The following information related to unsecured loans is
It does not for cars, houses, or any other large purchasesIn this, the collateral does not involve.It contains high interest.Therefore we can conclude that, option d is correct.
Learn more about the unsecured loan here: brainly.com/question/8347317
List five internal factors that influence a sales forecast.
Answer:
The internal factors such as plant capacity, quality, price, advertisement policy, resources, etc., of the enterprise affect the sales forecasting of the enterprise.
Explanation:
These factors can very well be controlled by the business enterprise itself.
which of the following accounts is (are) listed in a post-closing trial balance? multiple choice prepaid rent accounts payable salaries expense two of these three accounts would be included in a post-closing trial balance
Option d: Two of these three accounts would be included in a post-closing trial balance.
The final step in the accounting cycle (excluding chargebacks) is the creation of the post-closing trial balance. In addition, there are three types of his trial balance.
They are created at different stages of the billing cycle but have the same purpose of ensuring that debits and credits are equal.
A trial balance is a list of all the general ledgers (both income and equity) contained in the company's general ledger. This list contains the name of each notional ledger account and its notional ledger balance value.
Each notional ledger account holds either a debit balance or a credit balance. The debit balance value is listed in the debit column of the trial balance and the credit balance is listed in the credit column.
You can then use the ledger accounts on the same balance sheet to create transaction profit and loss accounts and balance sheets and other financial reports.
To learn more about post-closing trial balance, here:
https://brainly.com/question/30586179
#SPJ4
Complete question:
Which of the following accounts is(are) listed in a post-closing trial balance?
Prepaid Rent.
Accounts Payable.
Salaries Expense.
Two of these three accounts would be included in a post-closing trial balance.
You are assigned to work with two other classmates to complete a class assignment. One of the classmates is not completing their work. What are three ways that you could solve this problem
Please help me fast
Answer:
1. you could ask them if they understand what to do and if they need help.
2. you could tell the teacher that they are not doing the work
3. i dont know what else
Select the correct answer.
Kelly paid salary to her employees at the end of the month. What will be the journal entry for the given financial transaction?
A. Employee Account - Debit
Employee Account - Debit
B.
C. Salary Account - Debit
D. Salary Account - Debit
Cash Account - Credit
Kelly Account - Credit
Cash Account - Credit
Kelly Account - Credit
Reset
Next
Answer:
Explanation
Answer will be
C
Salary Account Debit
Cash Account Credit
What is the difference between a total and a subtotal?
Explanation:
SUB-TOTAL:
The total for a part of a list of numbers being summed.
TOTAL:
An amount obtained by addition of smaller amounts.
Answer:
subtotal is all the different parts being added together from different list.
total is the all items being added together plus tax.
Explanation:
how does a cancellation differ from a disenrollment anthem
A cancellation and disenrollment are terms commonly used in different contexts and can have distinct meanings.
Cancellation typically refers to the act of terminating or nullifying a subscription, reservation, or agreement. It involves ending a previously established relationship or commitment. In the context of services or subscriptions, cancellation often involves stopping or discontinuing a service or membership.
For example, canceling a subscription to a streaming platform means terminating the ongoing access to its content.
Disenrollment, on the other hand, commonly pertains to the process of removing an individual or entity from membership or enrollment in a particular organization, program, or institution. It often involves revoking or terminating the affiliation or participation of a member.
Disenrollment is commonly used in contexts such as healthcare plans, insurance policies, educational programs, or membership-based organizations. For instance, disenrollment from a health insurance plan refers to the removal of an individual's coverage and benefits.
In summary, cancellation refers to the termination or nullification of a subscription or agreement, while disenrollment involves the removal or termination of membership or enrollment in a specific program or organization. The specific meaning and implications of these terms may vary depending on the context in which they are used.
To know more about Disenrollment refer to-
https://brainly.com/question/28000102
#SPJ11
The difference between cancellation and disenrollment with Anthem or any health insurance essentially lies in who initiates the termination. Cancellation is initiated by the insurance company, usually due to reasons like non-payment or contract breach. Disenrollment is initiated by the policyholder, often during an open enrollment period.
Explanation:In the context of health insurance, such as with Anthem, a cancellation and a disenrollment have slightly different implications. Cancellation typically refers to the termination of an insurance policy by the company, in accordance with the terms of the policy agreement. This could happen due to non-payment of premiums, fraud, or some other breach of contract by the policyholder.
On the other hand, disenrollment means the voluntary termination of the policy by the policyholder, who may elect to opt-out of, or disenroll from, the plan generally during an open enrollment period. Consequently, the difference lies mostly in who initiates the termination - the insurance company in the case of cancellation, whereas the policyholder initiates in the case of disenrollment.
Learn more about Insurance terms here:https://brainly.com/question/31910634
Chloe, a textile designer, creates a flat fabric with a pattern that resembles the skin of a crocodile. Which design element is Chloe experimenting with?
A. undertone
B. shape
C. saturation
D. texture
Chloe, a textile designer, creates a flat fabric with a pattern that resembles the skin of a crocodile. Chloe is experimenting with texture.
Fabric is an umbrella term that includes numerous fiber-based materials, inclusive of fibers, yarns, filaments, threads, specific cloth types, and so forth. At first, the word "textiles" simplest cited woven fabric. However, weaving isn't always the only production method, many different methods were later developed to shape textile systems based on their meant use. Knitting and non-woven are different famous types of cloth manufacturing. Inside the cutting-edge world, textiles fulfill the fabric needs for flexible applications, from easy daily garb to bulletproof jackets, spacesuits, and medical doctor's gowns.
Learn more about fabric here
https://brainly.com/question/20727243
#SPJ1
A TV commercial says you should give to the Red Cross to help the refugees from the Ukraine because the need is so great and it is right for you to do this. What kind of appeal is this?
a.
rational
b.
sociocultural
c.
moral
d.
political
The appeal in the TV commercial is a moral appeal, as it is encouraging people to give to the Red Cross to help the refugees from Ukraine because it is the right thing to do.
The commercial is appealing to people's sense of moral duty and responsibility to help those in need. This type of appeal relies on ethical and moral principles to persuade individuals to take action.
Learn more about the moral appeal:
brainly.com/question/2322026
#SPJ11
FILL THE BLANK. the following formula defines which method of dealing with risk? cost of risk > damage = risk _________
Retention
The following formula defines the "Retention" method of dealing with risk:
cost of risk > damage = risk Retention
Here formula you mentioned, "cost of risk > damage = risk Retention," represents the concept of risk retention in risk management.
Risk retention refers to the strategy of accepting and bearing the potential financial consequences of a risk without transferring it to an external party, such as an insurance company.
Here's a breakdown of the formula and its implications:
"Cost of risk" refers to the potential financial impact or cost associated with a particular risk. It represents the potential losses or damages that could occur if the risk materializes.
"Damage" refers to the actual losses or damages suffered as a result of the risk event occurring. It represents the realized impact of the risk.
"Risk Retention" signifies the decision to bear and manage the risk internally, without transferring it to an insurance company or other external entities.
In the formula, if the cost of risk (potential financial impact) is greater than the actual damage (realized losses), it suggests that the organization or individual is financially capable of retaining and managing the risk themselves.
In this case, the risk retention approach may be more suitable and cost-effective compared to transferring the risk through insurance or other risk-sharing mechanisms.
To know more about risk Retention refer here
brainly.com/question/31838263#
#SPJ11
40. What is the cost of the certification exam for the following organizations? a. AAMA - b. AMT - c. NHA - d. NCCT -
Certification exams cost varies among organizations, so research each to determine specific fees for AAMA, AMT, NHA, and NCCT certification exams for healthcare professions.
The cost of certification exams can vary depending on the organization and the specific certification being pursued. It is essential to visit the official websites of each organization to obtain accurate and up-to-date information regarding exam fees.
The American Association of Medical Assistants (AAMA) offers the Certified Medical Assistant (CMA) exam. The exam fee for AAMA's CMA certification can be found on their official website.
The American Medical Technologists (AMT) provides certification exams for various healthcare professions, including medical technologists, medical laboratory technicians, and medical administrative specialists. The exam fees for AMT certifications can be obtained by visiting their website or contacting their office directly.
The National Healthcareer Association (NHA) offers certifications for a range of healthcare professions, such as phlebotomy technicians, medical assistants, and pharmacy technicians. The exam fees for NHA certifications can be found on their website.
The National Center for Competency Testing (NCCT) provides certifications for healthcare professionals, including medical assistants, surgical technologists, and medical office assistants. The exam fees for NCCT certifications can be obtained by visiting their website or contacting their office.
It is important to note that the exam fees may vary and are subject to change, so it is recommended to consult the official websites or contact the respective organizations for the most accurate and up-to-date information on certification exam costs.
learn more about information here
https://brainly.com/question/33276597
#SPJ11
Who has the most goals in fifa history
Answer:
Pele
explanation:
In 1.9k+ goals
P&g faced a challenge concerning consumer sophistication in the industry. which is the best way to combat this challenge?
Answer:
Customer Education is the best way to combat this challenge.
What is customer education?Customer Education is content designed to onboard, engage, and retain your new and existing customers that's delivered in a programmatic fashion via in-person and on-demand channels. Customer education is sometimes also referred to as customer training.To learn more about customer education, refer
to https://brainly.com/question/25689052
#SPJ4
Can anyone give me some tips on how to become a successful businesswoman
What Economic Issue arises in this graphic due to the Max Price being below Equilibrium?
As u asked in ur question which food we should have before exercise : ANSWER is - Option (B)
cross check if u have doubt it's correct..
Reflect on the section Planning and Executing Change Effectively, in Chapter 7 of the text. Summarize the key steps in planning and executing change in a 500 word journal entry
Planning and executing change is an essential aspect of any successful organization. It is necessary to remain competitive and adapt to the changing environment. The process of change can be challenging and stressful, but with proper planning and execution, it can lead to growth and success. In Chapter 7 of the text, we learned about the key steps involved in planning and executing change effectively.
The first step is to establish a clear vision for the change. This involves identifying the need for change, defining the desired outcome, and communicating it to all stakeholders. A clear vision helps in aligning everyone towards a common goal and sets the stage for a successful change effort.
The second step is to assess the organization's readiness for change. This involves identifying the strengths and weaknesses of the organization, evaluating the resources required for the change effort, and assessing the level of support from the stakeholders. It is crucial to understand the organization's readiness for change to plan and execute it effectively.
The third step is to develop a comprehensive plan for the change effort. This involves identifying the specific steps required to achieve the desired outcome, assigning responsibilities to the stakeholders, and developing a timeline for the change effort. A comprehensive plan helps in ensuring that everyone is on the same page and helps in tracking progress.
To know more about journal entry HERE
https://brainly.com/question/28390337
#SPJ4
After reading the question, select your answer and click the Submit Answer button. To temporarily skip a question, click the Skip Question button. You will have an end of the test. To go back and edit a previously answered question or to answer a skipped question, click the Review Edit Your Answer button
Edit Your Answer
QUESTION
Which of the following can help management create a cooperative company culture?
POSSIBLE ANSWERS
Dividing quality efforts by production stage
O Communicating openly with employees.
Tracking and monitoring financial results
Decreasing employee responsibilities
Communicating openly with employees can significantly contribute to creating a cooperative company culture.
Open communication involves fostering transparency, actively listening to employees' ideas and concerns, and providing regular updates and feedback. This approach promotes trust, collaboration, and engagement among team members, which are essential for building a cooperative work environment. By involving employees in decision-making processes, seeking their input, and valuing their opinions, management can empower individuals and create a sense of ownership and shared responsibility.
Open communication also facilitates the exchange of information, knowledge sharing, and problem-solving, leading to better teamwork and a positive work culture. Ultimately, a cooperative company culture encourages collaboration, innovation, and productivity while enhancing employee satisfaction and organizational success.
To know more about Decision Making related question visit:
https://brainly.com/question/30697303
#SPJ11
Here are book and market value balance sheets of the United Frypan Company (UF):
Book
Net working capital $ 70 $ 90 Debt
Long-term assets 130 110 Equity
$200 $200 Market
Net working capital $ 70 $ 90 Debt
Long-term assets 190 170 Equity
$260 $260 Assume that MM's theory holds with taxes. There is no growth, and the $90 of debt is expected to be permanent. Assume a 40% corporate tax rate.
a. How much of the firm's value is accounted for by the debt-generated tax shield?
PV tax shield $
b. How much better off will UF's shareholders be if the firm borrows $70 more and uses it to repurchase stock, assuming the increase in debt does not increase the risk of old debt?
Better off by $
MM refers to Modigliani and Miller, who inside the Nineteen Sixties theorized that the fee of the levered company is the fee of the unlevered firm plus the fee of the tax protect. (M&M, 1963, "company profits taxes and the value of capital: a correction". American economic overview. 53)
A)
in keeping with Modgliani and Miller, the cost of the tax defend is:
cost of tax protect = Debt * Tax price = forty * 0.4 = $sixteen.
B)
If the company borrow every other $20, the delivered cost will be:
introduced cost of borrowing = New debt * Tax = 20 * zero.four = $eight
To knknowow more approximately modigliani and miller click here
brainly.com/question/28503619
#SPJ4
turnaround and transformation: leadership and risk at boston’s institute of contemporary art
The Boston Institute of Contemporary Art (ICA) has undergone a major transformation in recent years, including a complete rebranding.
This paper examines the leadership and risk management strategies employed during this turnaround. The ICA's Executive Director, Jill Medvedow, provided the vision and leadership necessary to transform the museum. The ICA board members also played a significant role, in supporting Medvedow's vision and taking calculated risks. The museum's leadership demonstrated a willingness to experiment, which has paid off in increased attendance and positive reviews.
In 1998, the ICA hired Jill Medvedow as its Executive Director. Medvedow had previously worked at the Massachusetts Museum of Contemporary Art (MASS MoCA) and the DeCordova Museum and Sculpture Park. When she arrived at the ICA, the museum was struggling financially, had a dated image, and was not attracting significant audiences. Medvedow recognized that the museum needed a new vision and strategy. She was willing to take risks and experiment with new ideas. One of her first moves was to commission an architect to design a new building that would become the ICA's new home. The new building opened in 2006. The ICA's new home provided much-needed space for exhibitions, educational programs, and events. It also helped to attract new audiences to the museum. In addition to the new building, Medvedow and her team rebranded the museum, including a new name, logo, and website. The rebranding was designed to appeal to a broader audience and to signal that the museum was focused on contemporary art. The rebranding was a success, and the museum's attendance increased significantly. Today, the ICA is one of the most respected contemporary art museums in the country.
The ICA's transformation provides valuable lessons for leaders and managers in other organizations. The museum's success was due in large part to the leadership and risk management strategies employed by its Executive Director and board members. Medvedow's vision, willingness to experiment, and ability to build consensus were critical to the museum's turnaround. The board members also played a significant role in supporting the Executive Director's vision and taking calculated risks. Their willingness to invest in a new building and rebrand the museum was essential to its success. Finally, the ICA's transformation demonstrates the importance of taking calculated risks and being willing to experiment with new ideas. The museum's willingness to take risks paid off in increased attendance and positive reviews.
To know more about strategy visit
brainly.com/question/31930552
#SPJ11
why should a marketers be cautious about including videos that play automatically when people navigate to the marketer's website
Answer:
D
Explanation:
Just imagine yourself being in a work place or in a library, where you have other person's around you. And you're browsing through a site, then suddenly a video pops up and started playing automatically at the highest level. Can you imagine the kind of situation that would be created at that instance? Very awkward.
So therefore, marketer should apply caution when it comes to including video that plays automatically. This will avoid creating such kind of awkward situation for users at work.
Answer: D
Explanation: Just took the quiz
Question 1 of 10 If you make a plan to get a certain amount of a project done each day, what skill have you demonstrated? A. Time management B. Punctuality O C. Moral standards D. Integrity
Answer: A
Explanation: not sure, but i think its correct
during its most recent fiscal year, dover, incorporated had total sales of $3,320,000. contribution margin amounted to $1,560,000 and income was $490,000. what amount should have been reported as variable costs in the company's contribution margin income statement for the year?
Dover Incorporated should have reported $1,760,000 as variable costs in its contribution margin income statement for the most recent fiscal year.
During its most recent fiscal year, Dover Incorporated had total sales of $3,320,000, a contribution margin of $1,560,000, and income of $490,000. To calculate the variable costs that should have been reported in the company's contribution margin income statement for the year.Understand the formula for calculating the contribution margin. The contribution margin is the difference between total sales and variable costs: Contribution Margin = Total Sales - Variable Costs.
Rearrange the formula to solve for variable costs: Variable Costs = Total Sales - Contribution Margin. Substitute the given values for total sales and contribution margin into the formula:Variable Costs = $3,320,000 - $1,560,000. Perform the calculation to find the variable costs:Variable Costs = $1,760,000So, Dover Incorporated should have reported $1,760,000 as variable costs in its contribution margin income statement for the most recent fiscal year.
For more such questions on margin visit:
https://brainly.com/question/28180283
#SPJ11
Describe why it is important to understand how businesses impact you.
because they are the ones that provide me goods and services.
a chain of grocery stores wants to increase its sales and market share. the processes in its information system should .
A chain of grocery stores wants to increase its sales and market share. the processes in its information system should. the steps for entering information into the system.
Marketplace percentage represents the percentage of an enterprise, or a marketplace's overall income, this is earned via a particular organization over a designated term. market proportion is calculated by taking the employer's income over the length and dividing it by using the overall income of the industry over the identical duration.
Marketplace percentage is calculated with the aid of dividing the employer's overall revenues by way of the entire sales of the entire enterprise in the course of a specific period of time. This indicator is used by data analysts and different specialists to evaluate the dimensions, or presence, of a business enterprise within a given industry.
Due to the fact marketplace percentage is a key indicator of market competitiveness, it enables executives to choose general market increase or decline, discover key traits in customer conduct and see their marketability and market possibility.
Learn more about Marketplace here:
https://brainly.com/question/26907021
#SPJ4
According to the VRIO framework, which of the following statement is true? Resources and capabilities are turned into strengths when a firm gains a competitive advantage ,Resources and capabilities are equal in their potential contributions to competitive advantage, Resources and capabilities can be copied from leading competitors to gain a competitive advantage ,Resources and capabilities contribute to a firm's specific competitive advantage to the extent that they satisfy the components of the VRIO model
According to the VRIO framework, the following statement is true Resources and capabilities contribute to a firm's specific competitive advantage to the extent that they satisfy the components of the VRIO model.What is VRIO framework?The VRIO framework is an analytical tool utilized to assess the internal resources and capabilities of an organization to determine if they can be a source of sustainable competitive advantage.
The VRIO framework examines four key areas: value, rarity, imitability, and organization.Value is the foundation of the VRIO framework. Resources and capabilities are valuable if they enable an organization to exploit opportunities or neutralize threats.Rarity: Resources and capabilities that are scarce in the environment can be a source of competitive advantage. Imitability: If resources and capabilities are easily copied or duplicated by rivals, they do not provide a competitive advantage.Organization: The way that resources and capabilities are organized and used by a firm can determine whether or not they contribute to a sustained competitive advantage.Conclusion:Therefore, Resources and capabilities contribute to a firm's specific competitive advantage to the extent that they satisfy the components of the VRIO model.
To know more about components
visit https://brainly.com/question/33190437
#SPJ11
The manufacturer of Brand X floor polish is developing a new polish that they hope will dry faster than the competition’s polish. The competition’s polish is advertised to have an average (median) drying time of 7 minutes. In a random sample of 1300 polishes with the new polish, 900 of the polishes dried in less than 7 minutes. Without making any assumptions about the distribution, can the manufacturer conclude that the median drying time for Brand X is faster than the competition's brand? Use the sign test to analyze the results. Step 1 of 2 : Find the value of the test statistic to test that the new polish dries faster than the competition's polish. Round your answer to two decimal places if necessary.
The test statistic to test whether the new polish dries faster than the competition's polish is 4.64.
To analyze the results using the sign test, we compare the observed number of polishes that dried in less than 7 minutes (900) with the expected number of polishes that would dry in less than 7 minutes if the drying time was the same as the competition's polish (650, which is half of the total sample size). Next, we calculate the test statistic using the formula: test statistic = (observed number of successes - expected number of successes) / sqrt(expected number of successes * (1 - expected number of successes) / sample size) Plugging in the values, we have: test statistic = (900 - 650) / sqrt(650 * (1 - 650/1300) / 1300) = 4.64 The test statistic represents the number of standard deviations away from the expected value. In this case, the test statistic of 4.64 suggests that the observed number of polishes drying in less than 7 minutes is significantly greater than the expected number under the assumption that the drying time is the same as the competition's polish.
learn more about statistic here :
https://brainly.com/question/31538429
#SPJ11