Question
In: Advanced Math
a) Merchandise is sold at concerts. The manager of a concert claims that the mean value...
a) Merchandise is sold at concerts. The manager of a concert
claims that the mean value of merchandise sold to premium ticket
holders is more than the mean value of merchandise sold to standard
ticket holders. The mean value of merchandise sold to a random
sample of 60 standard ticket holders at the concert is $15 with a
standard deviation of $10. The mean value of merchandise sold to a
random sample of 55 premium ticket holders at the concert is $23
with a standard deviation of $8. Test the manager’s claim at the 5%
level of significance. State your hypothesis clearly.
b) For the test in part a), state whether or not it is necessary to
assume that values of merchandise sold have normal
distributions.Give a reason for your answer.
c) A machine fills packets with almonds. The weight, in grams, of
almonds in a packet is modelled by ?(?,?2). To check that the
machine is working properly, a random sample of 10 packets is
selected and unbiased estimates for ? and ?2 are ?̅ = 202 and ?2 =
3.6
Stating your hypothesis clearly, test, at the 1% level of
significance, whether or not the mean weight of almonds in a packet
is more than 200g.
d) In order to test ?0: ? ≤ 35 versus ?1: ? > 35, a random
sample of ? = 15 is obtained from a population that is normally
distributed. The sample had a standard deviation of ? = 37.4. Test
this hypothesis at the level of significance of 1%.
Solutions
Colby Messinger answered 2 years agoRelated Solutions
a) Merchandise is sold at concerts. The manager of a concert claims that the mean value...
a) Merchandise is sold at concerts. The manager of a concert
claims that the mean value of merchandise sold to premium ticket
holders is more than the mean value of merchandise sold to standard
ticket holders. The mean value of merchandise sold to a random
sample of 60 standard ticket holders at the concert is $15 with a
standard deviation of $10. The mean value of merchandise sold to a
random sample of 55 premium ticket holders at the concert...
Concert Nation] Concert Nation, INC. is a nationwide promoter of rock concerts. The president of the...
Concert Nation] Concert Nation, INC. is a nationwide promoter of
rock concerts. The president of
the company wants to develop a model to estimate the revenue of a
major concert event at large venues
(such as Ford Field, Madison Square Gardens) for planning marketing
strategies. The company has
collected revenue data of 32 recent large concert events. For each
concert, they have also recorded the
attendance, the number of concession stands in the venue, and the
Billboard chart of the...
A company sold merchandise for cash on September 30th. The merchandise was sold for $12,000 and...
A company sold merchandise for cash on September 30th. The
merchandise was sold for $12,000 and had a cost of $7,000. The tax
rate is 5%. Show all of your work!
Record the sale:
Record the remittance of the sales taxes to the state on October
30th.
c. February 7-sold merchandise on account for $800, and the cost of this merchandise sold was...
c. February 7-sold merchandise on account for $800, and the cost
of this merchandise sold was $560.
Account Name
Increase or
Decrease
Amount
Explanation:
d. February 10-returned $500 on
defective merchandise (list price) of the purchases dated February
3.
Account Name
Increase or
Decrease
Amount
Explanation:
e. February 11-paid the amount due of the purchased
realized.
Account Name
Increase or
Decrease
Amount
Explanation:
f. February 12-accepted defective
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a. Sold merchandise for cash (cost of merchandise $152,590). $ 276,700 b. Received merchandise returned...
a.
Sold merchandise for cash (cost
of merchandise $152,590).
$
276,700
b.
Received merchandise returned by
customers as unsatisfactory (but in perfect condition) for cash
refund (original cost of merchandise $810).
1,610
c.
Sold merchandise (costing
$9,450) to a customer on account with terms 2/10, n/30.
21,000
d.
Collected half of the balance
owed by the customer in (c) within the discount
period.
10,290
e.
Granted a partial allowance
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the mutual funds he manages equals 8%. To substantiate his claim,
he states that over the past 10 years, the mean annual return for
the mutual fund has been 9.5% with a sample standard deviation of
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a. Identify...
A manager from Morocco claims that the mean annual income is greater in Casablanca than it...
A manager from Morocco claims that the mean annual income is
greater in Casablanca than it is in Marrakech. In Casablanca, a
random sample of 19 residents has a mean annual income of $42,200
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15 residents has a mean annual income of $37,900 and a standard
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Assume the population variances are not equal. a. Identify the...
Determine the cost of merchandise sold for november
Based on the following data,Determine the cost of merchandise sold for novemberParticularsAmount$Increased in estimated returns inventory14,500Merchandise inventory,november 128,000Merchandise inventory, november 3031,500Purchases4,75,000Purchases returns and allowances15,000Purchases discounts9,000Freight in 7,000
When the merchandise is sold by the company, what is the cost of goods sold?
Use the following information on the U.S. dollar value of the
euro.Spot RateForward Rate forApril 30, 2021 DeliveryOctober 30, 2020$ 1.250$ 1.254December 31, 20201.2581.256April 30, 20211.2601.260On October 30, 2020, a U.S. company forecasts that it will purchase
merchandise from an Italian supplier at the end of April 2021, in
the amount of €100,000, and will pay the supplier on delivery. On
October 30, the company enters a forward contract to buy €100,000
on April 30, 2021 and classifies it as...
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