Question
In: Statistics and Probability
A candy manufacturer sells bags of chocolate treats that are supposed to be half dark chocolate...
A candy manufacturer sells bags of chocolate treats that are supposed to be half dark chocolate and half milk chocolate. The CEO opens a bag of the chocolate treats and tells his factory supervisor that he thinks that the types of chocolate are not evenly split in the bag. The supervisor randomly selects several bags, examines 300 of the chocolates, and finds that 56% of the 300 chocolates he examined are dark chocolate.
Use Excel to test whether the true proportion of dark chocolates is different from 50%. Identify the p-value, rounding to three decimal places.
Solutions
orchestra answered 1 year agoRelated Solutions
Candy Company produces a dark chocolate candy bar. Recently, the company adopted the following standards for...
Candy Company produces a dark chocolate candy bar. Recently, the
company adopted the following standards for one bar of the
candy:
Direct Materials (5.5 oz. @ $0.22) $1.21
Direct Labor (0.15 hours @ $10.00) $1.50
Standard Prime Cost $2.71
During the first week of operation, the company experienced the
following actual results:
Bars produced: 150,000.
Ounces of direct materials purchased: 823,600 ounces at $0.23
per ounce.
There are no beginning or ending inventories of direct
materials.
Direct Labor: 23,200 hours...
Problem 1 It is known that the weights of M&M milk chocolate candy bags are normally...
Problem 1
It is known that the weights of M&M milk chocolate candy
bags are normally distributed with the average weight of 11.04
ounces and the standard deviation of 0.82 ounces. One bag is
randomly selected. Answer the following
Question 1 What is the probability that the
weight of this bag is 10.65 ounces?
a) 0.3156
b) 0
c) 0.6844
d) none of the above
Question 2 What is the probability of the
weight of this bag exceeding 11.93 ounces?...
The Yucki Candy Co. makes and sells boxes of chocolate candy. Yucki has fixed expenses of...
The Yucki Candy Co. makes and sells boxes of chocolate candy.
Yucki has fixed expenses of $195,000 each month plus variable
expenses of $6.00 per box of candy. Yucki sells each box of candy
for $10.00.
Compute the contribution margin of each box of candy.
Compute the number of boxes of candy that Yucki must sell each
month to break even. Round up to the nearest whole box.
Compute the contribution margin ratio for a box of candy
.
Compute...
Direct Materials and Direct Labor Variances Zoller Company produces a dark chocolate candy bar. Recently, the...
Direct Materials and Direct Labor Variances
Zoller Company produces a dark chocolate candy bar. Recently,
the company adopted the following standards for one bar of the
candy:
Direct materials (6.30 oz. @ $0.20)
$1.26
Direct labor (0.08 hr. @ $18.00)
1.44
Standard prime cost
$2.70
During the first week of operation, the company experienced the
following actual results:
Bars produced: 142,000.
Ounces of direct materials purchased: 894,900 ounces at $0.21
per ounce.
There are no beginning or ending inventories of...
Direct Materials and Direct Labor Variances Zoller Company produces a dark chocolate candy bar. Recently, the...
Direct Materials and Direct Labor Variances
Zoller Company produces a dark chocolate candy bar. Recently,
the company adopted the following standards for one bar of the
candy:
Direct materials (6.30 oz. @
$0.20)
$1.26
Direct labor (0.08 hr. @ $18.00)
1.44
Standard prime cost
$2.70
During the first week of operation, the company experienced the
following actual results:
Bars produced: 145,000.
Ounces of direct materials purchased: 913,800 ounces at $0.21
per ounce.
There are no beginning or ending inventories of...
Direct Materials and Direct Labor Variances Zoller Company produces a dark chocolate candy bar. Recently, the...
Direct Materials and Direct Labor Variances
Zoller Company produces a dark chocolate candy bar. Recently,
the company adopted the following standards for one bar of the
candy:
Direct materials (6.20 oz. @ $0.20)
$1.24
Direct labor (0.08 hr. @ $18.00)
1.44
Standard prime cost
$2.68
During the first week of operation, the company experienced the
following actual results:
Bars produced: 141,000.
Ounces of direct materials purchased: 874,500 ounces at $0.21
per ounce.
There are no beginning or ending inventories of...
Direct Materials and Direct Labor Variances Zoller Company produces a dark chocolate candy bar. Recently, the...
Direct Materials and Direct Labor Variances
Zoller Company produces a dark chocolate candy bar. Recently,
the company adopted the following standards for one bar of the
candy:
Direct materials (6.20 oz. @ $0.20) $1.24
Direct labor (0.08 hr. @ $18.00) 1.44
Standard prime cost $2.68
During the first week of operation, the company experienced the
following actual results:
Bars produced: 144,000.
Ounces of direct materials purchased: 893,100 ounces at $0.21 per
ounce.
There are no beginning or ending inventories of...
The Proportion Challenged Candy Co. makes and sells boxes of chocolate candy. Proportion has fixed expenses...
The Proportion Challenged Candy Co. makes and sells boxes of
chocolate candy. Proportion has fixed expenses of $250,000 each
month plus variable expenses of $5.25 per box of candy. Proportion
sells each box of candy for $9.75.
Compute the contribution margin of each box of candy.
Compute the number of boxes of candy that Proportion must sell
each month to break even. Round up to the nearest whole box.
Compute the contribution margin ratio for a box of candy
Compute...
B. The Yucki Candy Co. makes and sells boxes of chocolate candy. Yucki has fixed expenses...
B.
The Yucki Candy Co. makes and sells boxes of chocolate candy.
Yucki has fixed expenses of $195,000 each month plus variable
expenses of $6.00 per box of candy. Yucki sells each box of candy
for $10.00.
• Compute the contribution margin of each box of candy.
• Compute the number of boxes of candy that Yucki must sell
each month to break even. Round up to the nearest whole box.
• Compute the contribution margin ratio for a box...
You are a candy manufacturer, specializing in chocolate toffee (yum!). You have just received an order...
You are a candy manufacturer, specializing in chocolate toffee
(yum!). You have just received an order which requires the purchase
of 130 tons of cocoa over six months. Relevant contract specs for
cocoa are:
Close
Price/ton
Number of
Contracts
Contract
size
Tic Size
Tic
Value
Spot
US$2668
-
-
-
Dec’20
US$2641
4
10 tons
$1/ton
US$10 .00
Mar’21
US$2623
3
10 tons
$1/ton
US$10 .00
May’21
US$2611
3
10 tons
$1/ton
US$10 .00
Jul’21
US$2602
3
10 tons
$1/ton...
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