Use your calculator to determine the probabilities. State what you put in for the lower limit, upper limit, mean and standard deviation.
1. Maple tree diameters in a forest area are normally distributed with mean 10 inches and standard deviation 2.2 inches. Find the percentage of trees having a diameter greater than 15 inches
2.White blood cell (WBC) count per cubic millimeter of whole blood follows approximately a Normal distribution with mean 7500 and standard deviation 1750. What percentage of people have WBC between 7000 and 8000?
3. Lifetimes of a certain brand of tires is approximately normally distributed with mean 42,500 miles and standard deviation 3,200 miles. What percentage of tires will last more than 50,000 miles?
4. The incomes of a set of factory workers happen to be normally distributed. The average income is $53,000 and the standard deviation is $9,000
What is the probability that a randomly selected employee makes more than $65,000?
What is the probability that the average of 4 randomly selected employees makes more than $65,000
What is the probability that the average of 12 randomly selected employees makes more than $65,000?
In: Statistics and Probability
Depreciation for Partial Periods
Storm Delivery Company purchased a new delivery truck for $66,000 on April 1, 2019. The truck is expected to have a service life of 5 years or 90,000 miles and a residual value of $3,000. The truck was driven 12,000 miles in 2019 and 14,000 miles in 2020. Storm computes depreciation expense to the nearest whole month.
Required:
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
In: Accounting
Bar Delivery Company purchased a new delivery truck for $36,000 on April 1, 2019. The truck is expected to have a service life of 5 years or 120,000 miles and a residual value of $3,000. The truck was driven 10,000 miles in 2019 and 18,000 miles in 2020. Bar computes depreciation expense to the nearest whole month.
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
| 2019 | $ |
| 2020 | $ |
In: Accounting
Depreciation for Partial Periods
Clifford Delivery Company purchased a new delivery truck for $54,600 on April 1, 2016. The truck is expected to have a service life of 10 years or 109,200 miles and a residual value of $4,800. The truck was driven 11,300 miles in 2016 and 12,700 miles in 2017. Clifford computes depreciation to the nearest whole month.
Required:
Compute depreciation expense for 2016 and 2017 using the
For interim computations, carry amounts out to two decimal places.
Round your final answers to the nearest dollar.
Straight-line method
| 2016 | $ |
| 2017 | $ |
Sum-of-the-years'-digits method
| 2016 | $ |
| 2017 | $ |
Double-declining-balance method
| 2016 | $ |
| 2017 | $ |
Activity method
| 2016 | $ |
| 2017 | $ |
For each method, what is the book value of the machine at the
end of 2016? At the end of 2017?
(Round your answers to the nearest dollar.)
Straight-line method
| 2016 | $ |
| 2017 | $ |
Sum-of-the-years'-digits method
| 2016 | $ |
| 2017 | $ |
Double-declining-balance method
| 2016 | $ |
| 2017 | $ |
Activity method
| 2016 | $ |
| 2017 | $ |
The book value of the asset in the early years of the asset's service will be under an accelerated method as compared to the straight-line method. The method is appropriate when the service life of the asset is affected primarily by the amount the asset is used.
In: Accounting
1) You measure 30 textbooks' weights, and find they have a mean weight of 70 ounces. Assume the population standard deviation is 8.7 ounces. Based on this, construct a 90% confidence interval for the true population mean textbook weight. Give as your answer as decimals, to two places.
2) In 2011 the U.S. Department of Transportation reported with
95% confidence that the average length of a motor vehicle trip in
the United States was 9.72 miles with a margin or error of 0.22
miles.
With 95% confidence the authors of the report are claiming that the
true average length of a motor vehicle trip in the United States is
between ? and ? miles.
The level of confidence for this estimate is ?
3) In a survey, 11 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $50 and standard deviation of $14. Construct a confidence interval at a 90% confidence level.
4) If n=14, ¯xx¯(x-bar)=34, and s=17, construct a confidence interval at a 98% confidence level. Assume the data came from a normally distributed population.
5) Out of 200 people sampled, 132 had kids. Based on this, construct a 95% confidence interval for the true population proportion of people with kids.
In: Statistics and Probability
The Mallory Corporation
On December 31, 2006, the Mallory Corporation had the following activity in its fixed assets record.
|
MALLORY CORPORATION - FIXED ASSETS |
||||||||||||
|
Equipment |
Cost |
Salvage |
Life |
Method of Depreciation |
||||||||
|
Machine 1 |
$65,000 |
$5,000 |
5 |
DDB purchased 1/1/2006 |
||||||||
|
Building #3 |
$900,000 not including land |
$50,000 |
25 |
S/L purchased 6/30/2006 |
||||||||
|
Mine 316 |
$1,000,000 |
$0 |
1,000,000 tons |
30,000 tons extracted. Mine purchased 1/1/2006 |
||||||||
|
Patent |
$50,000 |
0 |
17 |
Purchased 1/1/2006 |
||||||||
|
Truck 1 |
$35,000 |
$3,000 |
200,000 miles |
Units of production: total miles depreciated to date are 60,000 as of January 1, 2006. Miles this year 30,000 |
||||||||
|
REQUIRED: Compute the depletion, amortization, and depreciation expense on December 31, 2006 for each asset listed above Record the depreciation journal entries for the assets above Suppose that Machine 1 was sold for $40,000 on 12/31/2008, record the entry Suppose that the corporation spent $20,000 in 2006 to defend the patent. Record the entry. Financial Reporting on Fixed Assets:Prepare a partial balance sheet statement for Mallory Corporation showing Fixed and Intangible assets |
||||||||||||
In: Accounting
Bean Delivery Company purchased a new delivery truck for $58,200 on April 1, 2016. The truck is expected to have a service life of 5 years or 122,400 miles and a residual value of $4,800. The truck was driven 9,000 miles in 2016 and 10,700 miles in 2017. Bean computes depreciation to the nearest whole month.
Required:
Compute depreciation expense for 2016 and 2017 using the
For interim computations, carry amounts out to two decimal places.
Round your final answer to the nearest dollar.
Straight-line method
| 2016 | $ |
| 2017 | $ |
Sum-of-the-years'-digits method
| 2016 | $ |
| 2017 | $ |
Double-declining-balance method
| 2016 | $ |
| 2017 | $ |
Activity method
| 2016 | $ |
| 2017 | $ |
For each method, what is the book value of the machine at the
end of 2016? At the end of 2017?
(Round your answers to the nearest dollar.)
Straight-line method
| 2016 | $ |
| 2017 | $ |
Sum-of-the-years'-digits method
| 2016 | $ |
| 2017 | $ |
Double-declining-balance method
| 2016 | $ |
| 2017 | $ |
Activity method
| 2016 | $ |
| 2017 | $ |
The book value of the asset in the early years of the asset's service will be under an accelerated method as compared to the straight-line method. The method is appropriate when the service life of the asset is affected primarily by the amount the asset is used.
In: Accounting
A baseball crosses home plate with a velocity of 89.8 miles per
hour, at an angle of 30.0 degrees below horizontal, towards the
batter. Shortly after, it has been hit by a baseball bat, and now
has velocity 99.6 miles per hour at a "launch angle" of 25.0
degrees above horizontal, away from the batter. The ball has mass
0.145 kg, keeping with the Major League Baseball rulebook. Define
"from the batter, towards the pitcher" as positive x, and "up" as
positive y. (Note: we are assuming that the ball is hit in the
direction of the pitcher, versus to the left or right; otherwise
this becomes a 3-dimensional problem.)
A. What is the change in the x-component of the ball's linear
momentum? Hint: in order to get the correct value, you must (1)
split the initial and final velocities into x and y components, (2)
convert miles per hour to meters per second, and (3) be careful
about which velocities are negative (look at the definitions in the
table above).
kg*m/s
B. What is the change in the y-component of the ball's linear
momentum?
kg*m/s
C. What is the magnitude of the total change in the ball's linear
momentum?
kg*m/s
In: Physics
Cincinnati Paint Company sells quality brands of paints through hardware stores throughout the United States. The company maintains a large sales force who call on existing customers and look for new business. The national sales manager is investigating the relationship between the number of sales calls made and the miles driven by the sales representative. Also, do the sales representatives who drive the most miles and make the most calls necessarily earn the most in sales commissions? To investigate, the vice president of sales selected a sample of 25 sales representatives and determined:
The information is reported below.
| Commissions ($000) | Calls | Driven | Commissions ($000) | Calls | Driven |
| 23 | 68 | 2,372 | 39 | 188 | 3,291 |
| 14 | 30 | 2,229 | 44 | 218 | 3,103 |
| 34 | 136 | 2,733 | 29 | 105 | 2,123 |
| 39 | 180 | 3,353 | 38 | 162 | 2,794 |
| 24 | 77 | 2,291 | 37 | 154 | 3,209 |
| 47 | 186 | 3,451 | 15 | 25 | 2,289 |
| 30 | 103 | 3,117 | 34 | 132 | 2,850 |
| 39 | 143 | 3,343 | 26 | 94 | 2,692 |
| 42 | 200 | 2,843 | 28 | 96 | 2,934 |
| 32 | 156 | 2,626 | 25 | 81 | 2,673 |
| 21 | 50 | 2,122 | 44 | 205 | 2,988 |
| 13 | 46 | 2,222 | 35 | 155 | 2,830 |
| 47 | 225 | 3,466 | |||
Develop a regression equation including an interaction term. (Negative amount should be indicated by a minus sign. Round your answers to 3 decimal places.)
Commissions= ___________ + __________________ calls + _______________________miles + ___________________x1x2
Complete the following table. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)
|
Compute the value of the test statistic corresponding to the interaction term. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.)
Value of the test statistic ___________________
At the 0.05 significance level is there a significant interaction between the number of sales calls and the miles driven?
This is STATISTICALLY SIGNIFICANT or NOT SIGNIFICANT (choose), so we conclude that there IS INTERACTION or IS NO INTERACTION (choose).
In: Statistics and Probability
Computers in some vehicles calculate various quantities related to performance. One of these is the fuel efficiency, or gas mileage, usually expressed as miles per gallon (mpg). For one vehicle equipped in this way, the miles per gallon were recorded each time the gas tank was filled, and the computer was then reset. In addition to the computer's calculations of miles per gallon, the driver also recorded the miles per gallon by dividing the miles driven by the number of gallons at each fill-up. The following data are the differences between the computer's and the driver's calculations for that random sample of 20 records. The driver wants to determine if these calculations are different. Assume that the standard deviation of a difference is
σ = 3.0.
|
5.0 |
6.5 |
−0.6 |
1.8 |
3.7 |
4.5 |
8.0 |
2.2 |
4.9 |
3.0 |
|
4.4 |
0.4 |
3.0 |
1.4 |
1.4 |
6.0 |
2.1 |
3.3 |
−0.6 |
−4.2 |
(a) State the appropriate
H0
and
Ha
to test this suspicion.
H0: μ = 3 mpg; Ha: μ ≠ 3 mpg
H0: μ > 0 mpg; Ha: μ < 0 mpg
H0: μ > 3 mpg; Ha: μ < 3 mpg
H0: μ = 0 mpg; Ha: μ ≠ 0 mpg
H0: μ < 0 mpg; Ha: μ > 0 mpg
(b) Carry out the test. Give the P-value. (Round your
answer to four decimal places.)
Interpret the result in plain language.
We conclude that μ = 3 mpg; that is, we have strong evidence that the computer's reported fuel efficiency does not differ from the driver's computed values.
We conclude that μ ≠ 0 mpg; that is, we have strong evidence that the computer's reported fuel efficiency differs from the driver's computed values.
We conclude that μ ≠ 3 mpg; that is, we have strong evidence that the computer's reported fuel efficiency differs from the driver's computed values.
We conclude that μ ≠ 0 mpg; that is, we have strong evidence that the computer's reported fuel efficiency does not differ from the driver's computed values.
We conclude that μ = 0 mpg; that is, we have strong evidence that the computer's reported fuel efficiency differs from the driver's computed values.
In: Statistics and Probability