Message_Rate   Revenue_($millions)
1363.3   148
1214.8   74
575.9   64
311.3   36
458.1   35
293.2   34
248.3   25
679.5   18
151.7   17
169.6   17
109.7   16
144.3   16
410.2   15
93.4   15
104.2   15
121.8   14
70.7   13
81.3   12
127.6   6
52.2   6
149.6   5
36.3   3
4.2   2

to study how social media may influence the products consumers​ buy, researchers collected the opening weekend box office revenue​ (in millions of​ dollars) for 23 recent movies and the social media message rate​ (average number of messages referring to the movie per​ hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue​ (y) and message rate​ (x).

Determine the estimate of the standard deviation.?

To study how social media may influence the products consumers​ buy, researchers collected the opening weekend box office revenue​ (in millions of​ dollars) for 23

recent movies and the social media message rate​ (average number of messages referring to the movie per​ hour). The data are available below. Conduct a complete simple linear regression analysis of the relationship between revenue​ (y) and message rate​ (x).

Message_Rate   Revenue_($millions)
1363.3 148
1214.8 74
575.9 64
311.3 36
458.1 35
293.2 34
248.3 25
679.5 18
151.7 17
169.6 17
109.7 16
144.3 16
410.2 15
93.4 15
104.2 15
121.8 14
70.7 13
81.3 12
127.6 6
52.2 6
149.6 5
36.3 3
4.2 2

Grouper’s Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March.

17. The real GDP growth between 2017 and 2018 was _____. A. 5.93% B. 6.16% C. 6.57% D. None of the above/not enough information

18. Using 2018 as the base year, the GDP deflator in 2017 was _____. A. 95.73 B. 100 C. 104.46 D. None of the above/not enough information

19. Using 2018 as the base year, the GDP deflator in 2018 was _____. A. 95.73 B. 100 C. 104.46 D. None of the above/not enough information

20. A market basket: A. is a tool devised to track how changing prices affect consumers. B. includes all the goods and services produced in an economy. C. includes all the goods and services consumed in an economy, including imports. D. includes all the goods and services consumed in an economy, including net exports.  

21. A price index: A. measures how much the cost of a market basket has risen or fallen relative to the cost in a base time period. B. summarizes the changes in the cost of living for only rural consumers. C. allows us to see clearly the changes in the cost of a market basket daily. D. is generally only used with consumer goods and services

22. When the CPI increases from one year to the next: A. the cost of living has decreaseD. B. deflation has occurreD. C. people need to spend more money to buy the same amount of goods as the previous year. D. All of these statements are true.

23. When deflation occurs, the purchasing power of money increases. A. True B. False C. Uncertain Consider the following information regarding the CPI for an economy: Year CPI 2000 150 2001 159 2002 181 2003 184

24. The inflation rate between 2000 and 2001 was: A. 5.66% B. 6.00% C. 9.00% D. none of the above

25. In this economy, deflation: A. occurred between 2000 and 2001. B. occurred between 2001 and 2002. C. occurred between 2002 and 2003. D. did not occur between any of the time periods stated above.

26. In 2005, the minimum wage was $5.15 and the CPI in 2005 was 195.3. The CPI in 2018 was 250.5. Thus, the real minimum wage in 2018 dollars was _____. A. $4.02 B. $6.61 C. $12.90 D. None of the above/not enough information  

27. In 2018, the minimum wage was $7.25. Which of the following statements are correct? A. The purchasing power of the minimum wage has increased since 2005. B. The purchasing power of the minimum wage has decreased since 2005. C. The purchasing power of the minimum wage has not changed since 2005. D. One cannot say whether the purchasing power of the minimum wage has increased or decreased since 2005.

Break Even Point Case, Sports Bar Assignment:

Key Formulae:

A) PROFIT = REVENUE PER UNIT * QUANTITY – [TOTAL FIXED COST +

(VARIABLE COST PER UNIT * QUANTITY)]

B) BREAKEVEN POINT = TOTAL FIXED COST/(REVENUE PER UNIT –

VARIABLE COST PER UNIT)

Arthur and 2 college friends decide to open a sports bar/restaurant in their home town.

After some research they determined that the best way to start is to obtain a franchise from

a Chicago based company. The company would acquire the land, build and outfit the

facility. AJ and friends would pay a monthly comprehensive fee of $10,000. This fee would

include the franchise royalty payment, the mortgage payment for the actual facility (that

would be paid off in full in 20 years) and all utility fees.

AJ and his 2 friends want to pay themselves $4,000 per month each. The staff would cost

$2,000 per week ($200 each for 10 employees). The estimated variable cost per customer is

$9.00 each. The forecasted revenue is $24.00 per customer.

What is the breakeven point in number of customers per month for the sports

bar/restaurant?

If they served 2,500 customers per month, what would their profit be?

Starcups Coffee Company is launching a new sustainability initiative that would reward customers for purchasing a reusable cup. During the cup promotion, customers would pay an extra $1.00 for the reusable cup and would receive a 20% discount each time they return with the cup to buy a cup of coffee.

Each week Starcups serves 41,000 customers who purchase an average of 2.00 cups of coffee per week (82,000 cups total). Starcups’s contribution margin income statement for a typical week is shown below:

Assume the new cup promotion is expected to impact sales volume, revenue, fixed, and variable costs as follows:

• Starcups estimates that 25% of its current customers (10,250) will participate in the promotion. The remainder of its existing customer base (30,750) will continue to buy an average of 2.00 cups of coffee per week.
• Starcups expected to attract 5,100 new customers to participate in the promotion.
• Customers who participate in the promotion will pay an additional $1.00 for the reusable cup. They will then receive a 20% discount on repeat visits when they bring back their reusable cup.
• The additional variable cost of purchasing the reusable cup is $1.60. The variable cost savings of the paper cup is $.30.
• Starcups expects that customers who participate in the reusable cup promotion will visit an average of 5 times per week, including the first purchase of the reusable cup.
• Starcups will spend a total of $11,000 per week advertising the reusable cup promotion.

Required:
1. Prepare a contribution margin income statement to predict how the reusable cup promotion will impact weekly net operating income.



2. Compute the difference in total revenue, total variable costs, total contribution margin, total fixed costs, and total operating income before and after the promotion.

The Draper Company Records these journal entries:

Purchase of equipment; signed a 5-year note payable $27

Accrued Wages Payable $12

Earned portion of Unearned Revenue $16

Required: Indicate the net effect of these journal entries on the following items. Indicate the dollar amount of the effect and the direction of the effect. (Example: $13 Increase, or $8 Decrease, or NO EFFECT)

a) Net Income $_______________ b) Total Assets $_______________ c) Total Liabilities $_______________

d) Retained Earnings $_______________ e) Total Equity $_______________ f) Working Capital $_______________

10. Bill's Produce does 60 percent of its business during June, July, and August.

Required:

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Question: Homework for intra-entity transactions. Part I Paula Corporation owns all of the voting common st...

Homework for intra-entity transactions.

Part I

Paula Corporation owns all of the voting common stock of Sally Company. Sally manufactures toys and sells them to Paula. In turn, Paula sells them to customers. Neither of these companies do anything else. At the beginning of 2012 neither company had any inventory. During 2012 Sally manufactured 120,000 toys and sold 100,000 of them to Paula for $10 each and Paula sold 90,000 of these toys to customers for $16 each. These toys had cost Sally only $7 each to produce. During 2013 Sally manufactured 115,000 toys and sold 98,000 to Paula for $10 each. Paula sold 100,000 toys to customers during 2013 for $16 each. (The manufacturing cost for Sally was still $7 per toy.) Please determine each of the following:

A. Total Consolidated Sales Revenue for 2013

B.   Total Consolidated Cost of Goods Sold for 2013

C.   Consolidated Ending Inventory for December 31, 2013

During 2014 Sally produced 200,000 toys at a cost of $7 each. Paula produced 30,000 books at a cost of $12 each. Sally sold 120,000 toys to Paula for $10 each and 50,000 toys to customers for $15 each. Paula sold 110,000 of the toys to customers for $16 each and 20,000 books to customers for $20 each. Please determine each of the following:

A. Total Consolidated Sales Revenue for 2014

B.   Total Consolidated Cost of Goods Sold for 2014

C.   Consolidated Ending Inventory for December 31, 2014

High school graduates: Approximately

74%

of freshmen entering public high schools in the United States in

2005

graduated with their class in

2009

. A random sample of

175

freshmen is chosen. Use Cumulative Normal Distribution Table as needed. Round your answers to at least four decimal places if necessary.

(a)Find the mean

μp

.

Part 2 of 6

(b)Find the standard deviation

σp

.

Part 3 of 6

(c)Find the probability that less than

75%

of freshmen in the sample graduated.

Part 4 of 6

(d)Find the probability that between

64%

and

78%

of freshmen in the sample graduated.

Part 5 of 6

(e)Find the probability that more than

64%

of freshmen in the sample graduated.

Part 6 of 6

(f)Would it be unusual if the sample proportion of freshmen in the sample graduated was more than

83%

?