What is the payback period
Anderson, Inc. is considering a project with an initial cost of $28,000. The project will produce cash inflows of $9,000 a year for the first year and $10,000 a year for the following three years. What is the payback period?
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A recent sample yielded a sample mean of 101.4. Conduct a hypothesis test to determine whether the mean width has increased. Use a 0.01 significance level.
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