Can you please provide the full workout for this problem? I am having trouble so
ID: 2631082 • Letter: C
Question
Can you please provide the full workout for this problem? I am having trouble somewhere along the lines to get the correct conclusion. Thank you!
4. The results of a recent study regarding smoking and three types of illness are shown in the following table.
Illness Non-Smokers Smokers Totals
Emphysema 20 60 80
Heart problem 70 80 150
Cancer 30 40 70
Totals 120 180 300
We are interested in determining whether or not illness is independent of smoking.
a. State the null and alternative hypotheses to be tested.
b. Show the contingency table of the expected frequencies.
c. Compute the test statistic.
d. The null hypothesis is to be tested at 95% confidence. Determine the critical value for this test. What do you conclude?
e. Determine the p-value and perform the test.
Explanation / Answer
Financial Management Operations has prepared a guide to assist departments in the development of cash handling procedures to ensure proper internal controls, segregation of duties, and adequate safeguards of University assets. Departments are responsible for complying with cash handling policies and procedures outlined, and also for developing detailed written departmental operating procedures. Financial Management Operations will review the procedure documents and make any appropriate recommendations at the request of the department.
Below is an outline of suggested information to include in procedures.
Internal controls are necessary to prevent mishandling of funds to safeguard against loss. Strong internal controls also protect employees from inappropriate accusations or charges of mishandling funds by defining responsibilities in the cash handling process.
Segregation of duties is essential to prevent one individual from having responsibility for more than one component. Components of cash handling are collecting, depositing and reconciling.
When developing cash handling procedures departments should always take under consideration the importance of internal controls and segregation of duties and implement these two concepts into the procedures.
Procedures should be detailed steps of departmental processes. These detailed steps should map out the course of action so that persons not familiar with the process can follow them to perform the duties when necessary.