The 5% level of significance was selected for the t value. - 6671

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The 5% level of significance was selected for the t value. This example is what type of test? 

A.   Two sample test of means. 

B.   One sample test of means. 

C.   Test of proportions. 

D.   Paired t-test.

Solution Description

Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO (First In First Out). A manufacturer evaluated its finished goods inventory (in $ thousands) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower?

       &nb