Agri-Beef, Inc. is a large Midwestern farming operation. The company has been a leader in employing...

Agri-Beef, Inc. is a large Midwestern farming operation. The company has been a leader in employing statistical techniques in its business. Recently, John Goldberg, operations manager, requested that a random sample of cattle be selected and that these cattle be fed a special diet. The cattle were weighed before the start of the new feeding program and at the end of the feeding program. John wished to estimate the average daily weight gain for cattle on the new feed program. Two hundred cattle were tested, with the following sample results: X = 1.2 pounds gain per day and S= 0.50 pounds gain per day.

Obtain a 90% confidence interval estimate for the true average daily weight gain.
Provide a 96% confidence interval estimate for the true average daily weight gain.
John is considering adopting this new diet. However, the weight gain comes at a price. To feed 200 cows for one month, the diet would cost approximately $1,000 more than their current feed program. If the price of beef on the hoof has been close to $0.20 a pound, would such a program be cost effective for Agri-Beef? Support your answer with calculations and statistical reasoning.

Expert Solution

i)

ii)

milcah answered 1 month ago

Agri-Beef Inc. operates cattle feed lots in several mid-western states. The company wishes to estimate the...

Agri-Beef Inc. operates cattle feed lots in several mid-western states. The company wishes to estimate the average daily weight gain of cattle on their lots. To do this a simple random sample of cattle is taken and the daily weight gain is recorded. The data below, in pounds, represent the results of the sample. If you need to download your data set again, you can do so by clicking here. Hint: Keep in mind that these are small sample confidence...

Accounting Homework, -------------------------------------------------------------- 21st Century Farms Inc. is high-tech farming operation that has successfully patented methods...

Accounting Homework, -------------------------------------------------------------- 21st Century Farms Inc. is high-tech farming operation that has successfully patented methods for quick and efficient farming 365 days a year in all kinds of weather. As their accountant, you have been asked to prepare a partial balance sheet for their fixed assets for the year ended December 31, 2016. Their books currently show the following information: Account Amount as of December 31, 2016 Buildings $ 1 080 000 Goodwill 420 000 Patents 600 000 Farm...

A large firm employing tens of thousands of workers has been accused of discriminating against its female managers.

Show all of your work in each question. In parts (d), (e), and (g) make sure to set up your null and alternative hypotheses and write your conclusions. Also, please round your numbers to 2 decimal points. Write legibly and neatly. You can use p-value approach or critical-value approach in writing the conclusions of your hypotheses. A large firm employing tens of thousands of workers has been accused of discriminating against its female managers. The accusation is based on a...

You are considering investing $800,000 in new equipment for your farming operation. This equipment has an...

You are considering investing $800,000 in new equipment for your farming operation. This equipment has an expected life of 15 years, and will add $80,000 in after-tax cash flow to your operation each year. 1. What is the payback period for this equipment? 2. What is the total benefit (NOT NPV, just total benefit like we did last week) from this investment? 3. What is the average rate of return for this investment? 4. Assume a 4% discount rate and...

A large customer call center for a multinational retailer has been in operation for several months,...

A large customer call center for a multinational retailer has been in operation for several months, but has continually failed to meet both customers’ and senior management’s expectations. Your team has been called in to develop a dashboard to help monitor and improve the operations of the call center. What KPIs would you track? Sketch a sample dashboard for this application. Submit the assignment to Dropbox.

Lakeview Builders is a construction company (building houses, offices, and hotels) employing a large number of...

Lakeview Builders is a construction company (building houses, offices, and hotels) employing a large number of workers on various construction sites. The internal audit department of Lakeview Builders is currently reviewing cash wages systems within the company. The following information is available concerning the wages systems: (a) Hours worked are recorded using a clocking in/out system. On arriving for work and at the end of each day’s work, each worker enters their unique employee number on a keypad. (b) Workers...

Maggie has recently been appointed to a position as a division leader of a manufacturing company....

Maggie has recently been appointed to a position as a division leader of a manufacturing company. Her salary includes a baseline amount, plus a bonus of 5% of the amount of sales that exceed $500,000 dollars. Discuss at least three potential agency problems this compensation plan could present, and some ways good corporate governance can mitigate those issues.

Acme Manufacturing, Inc. was originally a family owned operation that has been in business for several...

Acme Manufacturing, Inc. was originally a family owned operation that has been in business for several generations. It has grown steadily and is now listed on the stock exchange with family members still owning a substantial portion of the shares. Over the years, the company has acquired a reputation for exceptional quality and has won awards from major customers. The firm is 75% equity financed; shares currently trade at $37 and do not pay a dividend. Debt capital is provided...

The JEM Company has been in operation for over 40 years and has 20,000 shares of...

The JEM Company has been in operation for over 40 years and has 20,000 shares of $100 par-value common stock authorized, of which 12,000 shares have been issued. THe market value of the stock throughout 2014 until late Dcember, was $107.50 per share. On Sept. 1. 2014, the board of directors declared a 20% (small) stock dividend, distributable in October. The accounts showed the following balances immediately prior to the declaration of the dividend: Common Stock = $1,200,000 Additional contributed...

The leader of a large construction company is worried about the appearance of a new excavator...

The leader of a large construction company is worried about the appearance of a new excavator on the market. In fact, this The device is clearly superior to the one the company bought 1 year ago. As a result, the market value of the excavator used by the company has dropped from $ 400,000 last year to $ 40,000 this year. In 10 years, it will only be worth $ 5,000. The new excavator costs only $ 650,000 and is...

Question