Let x be a random variable that represents the weights in kilograms (kg) of healthy adult female deer (does) in December in a national park. Then x has a distribution that is approximately normal with mean μ = 60.0 kg and standard deviation σ = 8.0 kg. Suppose a doe that weighs less than 51 kg is considered undernourished.
(a) What is the probability that a single doe captured (weighed
and released) at random in December is undernourished? (Round your
answer to four decimal places.)
(b) If the park has about 2500 does, what number do you expect to
be undernourished in December? (Round your answer to the nearest
whole number.)
does
(c) To estimate the health of the December doe population, park
rangers use the rule that the average weight of n = 60
does should be more than 57 kg. If the average weight is less than
57 kg, it is thought that the entire population of does might be
undernourished. What is the probability that the average weight
x
for a random sample of 60 does is less than 57 kg (assuming a
healthy population)? (Round your answer to four decimal
places.)
(d) Compute the probability that
x
< 61.2 kg for 60 does (assume a healthy population). (Round
your answer to four decimal places.)
Suppose park rangers captured, weighed, and released 60 does in
December, and the average weight was
x
= 61.2 kg. Do you think the doe population is undernourished or not? Explain.
Since the sample average is below the mean, it is quite likely that the doe population is undernourished. Since the sample average is above the mean, it is quite likely that the doe population is undernourished. Since the sample average is below the mean, it is quite unlikely that the doe population is undernourished. Since the sample average is above the mean, it is quite unlikely that the doe population is undernourished.
In: Math
An article in the Wall Street Journal on the parking problems at Tesla's Fremont, California factory notes that: "Tesla has tried to encourage alternatives to driving, such as biking, public transportation and the shuttle buses provided from around the Bay Area ..."
If Tesla auctioned off the right to park in its lot, would the firm need to provide other encouragement for employees to use alternative means of transportation? Briefly explain.
A.
Yes, it would remain necessary to provide alternatives to driving because the price of parking spaces would rise.
B.
No, it would not be necessary because the spaces would be allocated to those most willing to pay for them.
C.
No, encouraging the use of transportation alternatives would not be necessary due to a shortage of spaces.
D.
Yes, encouraging driving alternatives would still be necessary because the supply of spaces would be unchanged.
Is the most economically efficient allocation of parking spaces in Tesla's lot likely to result from auctioning off the right to park or from keeping parking free while encouraging employees to use alternative means of getting to work? Briefly explain.
A.
Keeping parking free, because no one has to pay anything for parking.
B.
Keeping parking free, because those with less income may get a parking space.
C.
Auctioning off the right to park, because the people who get the parking spaces would be determined randomly.
D.
Auctioning off the right to park, because those who benefit the most from the parking spaces would receive them.
Given your answer above, why hasn't Tesla considered charging employees for parking in its lot?
A.
Employees may consider this method to be unfair.
B.
Tesla workers are not rational.
C.
Managers may believe that they should not be charged for parking.
D.
Charging employees for parking is too time-consuming.
In: Economics
21. The price elasticity of demand for Dell computers is estimated to currently be –3. Assuming that this estimate is correct, which of the following is true?
A. Total revenue from the sale of its computers will increase this year if Dell raises its prices this year.
B. If Dell lowers the price of its computers, the total revenue from sale of its computers will decrease this year.
C. There will be no effect on its total revenue from the sale of its computers this year if Dell lowers its prices.
D. If Dell lowers the price of its computers, the total revenue from the sale of computers will increase this year.
22. Suppose you run a movie theater and want to increase the total revenue you take in during daytime showings of movies. You can increase your revenue by
A. lowering the price of tickets if the demand for tickets is elastic.
B. lowering the price of tickets if the demand for tickets is inelastic.
C. lowering the price of tickets if the demand for tickets is unit elastic.
D. raising the price of tickets if the demand is inelastic. E. either A or D. 11
23. The long-run supply curve of new automobiles is perfectly elastic. If a 10 percent excise tax is levied on automobiles and collected from manufacturers, then in the long run, other things being equal,
A. the tax will be fully shifted to buyers of automobiles as the market equilibrium price of automobiles increases by 10 percent.
B. the tax will be borne entirely by manufacturers and the net price they receive from selling each automobile will be 10 percent less because of the tax.
C. buyers and sellers of automobiles will share the tax on each automobile.
D. it is not possible to forecast the impact of the tax on the market price of automobiles.
In: Economics
One of the major problems with front office accounting at the Royal Crest Hotel is monitoring guest and non-guest accounts using their manual system. Management has always extended local businesses and government officials charge privileges, the idea being that, with the convenience of deferred payments, local patrons would be more likely to dine and/or host clients at the hotel. This program has proved to be highly successful. The volume of purchases charged to such non-guest accounts now approximates the level of sales incurred by registered guests. Unsure if this is a good or bad situation, Mr. Osei, the front office manager, requests the front office accounting staff to study the problem and to report its findings at next week's front office meeting. At the weekly front office meeting, the hotel's accountant, Ms. Pokua, reports that there are at least three problems related to the hotel's non- guest charge purchasing policies: its impact on the daily hotel audit, the billing procedures to collect payment, and the number of applications for additional non-guest accounts. When asked to be more specific, she begins with a review of the daily hotel audit. She states that since the front office receives charge vouchers from the hotel's revenue centers, it is the front desk agent's responsibility to separate guest from non-guest accounts. Since registered guest charges are posted by room number, one would think it easy to sort those charges from the others. Unfortunately, both the hotel's guest account numbers and the non-guest account numbers are three digits, thereby making the sorting more time-consuming. Mr. Osei asks if it is really necessary to separate the charges. Ms. Pokua explains that it is, since the hotel must maintain accurate guest folio Page 2 of 1 G. N. Baah balances. She further states that the non-guest vouchers are accumulated and posted on Saturday afternoons, when the hotel's business is less hectic. The billing procedures to collect non-guest account balances are tricky, Ms. Pokua said. Since the hotel bills non-guest accounts on the last day of each month, some charges occurring in a particular month may not be posted in time to appear on that month's bill. In addition, non-guest accounts usually are not paid in time. In fact, 47 percent of last month's non-guest account balances remain unpaid and tomorrow is the date of the next billing cycle. Mr. Osei explains that the local customers are important to the hotel and suggests that maybe Ms. Pokua is over-sensitive to the billing problems. Lastly, Ms. Pokua relates the fact that there are at least ten new applications for non-guest accounts. She has instructed her staff not to authorize any new non-guest accounts without her written approval. She further states that she is reluctant to authorize any additional non-guest accounts, and looks to Mr. Osei for advice. Convinced of the positive aspects of such business, Mr. Osei directs her to approve the requests and to assign account numbers effective the first day of next month.
1). State four things that could be done to improve collection of outstanding balances? .
2). What are the two (2) advantages and two (2) disadvantages to having a high volume of non- guest accounts? NOTE; PLEASE I NEED DIFFERENT ANSWERS.
In: Operations Management
TFAC4001 Assessment
2020
Question 1
Classic Dining Ltd. is considering opening a new restaurant in a
rented facility.
It wishes to evaluate this investment over the five-year leasing
period, on the assumption
that the equipment would be sold and the working capital recovered
at the end of the 5th .
year
The following estimates in respect of the new restaurant have been
prepared.
€'000
Premium on lease (capital expenditure)
600
Equipment and furnishing investment
850
Estimated disposal value of equipment at end of year 5
100
Weighted average cost of capital
11%
Estimates / Year
Year 1 Year 2 Year 3 Year
4 Year 5
Numbers of customers
32,000 36,000
40,000 42,000 45,000
Average revenue per customer
€ 75 € 75 €
78 € 80 € 82
Food & bev. costs per customer
€ 23 € 24 €
25 € 26 € 27
Variable wages cost per cust.
€ 19 € 20 €
21 € 22 € 23
Fixed Costs
€'000 €'000 €'000
€'000 €'000
Annual rent (lease) of premises
425 425 425
425 425
Marketing and admin. expenses
225 200 180
180 180
Depreciation of equipment
150 150 150
150 150
Salaries
150 160 170 180
200
Apport. head office overheads
75 75 80
85 100
1,025 1,010 1,005
1,020 1,055
Profits lost in other restaur. €000
60 70 80
90 100
Working capital as % of turnover
4% 4% 4%
4% 4%
Required:
(a) Evaluate the above project using the following
methods:
Net present value
Internal rate of return
Nominal payback period
(b) Comment on the proposed investment
(5.33 marks)
(33.33 marks)
In: Accounting
TFAC4001 Assessment
2020
Question 1
Classic Dining Ltd. is considering opening a new restaurant in a
rented facility.
It wishes to evaluate this investment over the five-year leasing
period, on the assumption
that the equipment would be sold and the working capital recovered
at the end of the 5th .
year
The following estimates in respect of the new restaurant have been
prepared.
€'000
Premium on lease (capital expenditure)
600
Equipment and furnishing investment
850
Estimated disposal value of equipment at end of year 5
100
Weighted average cost of capital
11%
Estimates / Year
Year 1 Year 2 Year 3 Year
4 Year 5
Numbers of customers
32,000 36,000
40,000 42,000 45,000
Average revenue per customer
€ 75 € 75 €
78 € 80 € 82
Food & bev. costs per customer
€ 23 € 24 €
25 € 26 € 27
Variable wages cost per cust.
€ 19 € 20 €
21 € 22 € 23
Fixed Costs
€'000 €'000 €'000
€'000 €'000
Annual rent (lease) of premises
425 425 425
425 425
Marketing and admin. expenses
225 200 180
180 180
Depreciation of equipment
150 150 150
150 150
Salaries
150 160 170 180
200
Apport. head office overheads
75 75 80
85 100
1,025 1,010 1,005
1,020 1,055
Profits lost in other restaur. €000
60 70 80
90 100
Working capital as % of turnover
4% 4% 4%
4% 4%
Required:
(a) Evaluate the above project using the following
methods:
Net present value
Internal rate of return
Nominal payback period
(b) Comment on the proposed investment
(5.33 marks)
(33.33 marks)
In: Finance
Let x be a random variable that represents the weights in kilograms (kg) of healthy adult female deer (does) in December in a national park. Then x has a distribution that is approximately normal with mean μ = 70.0 kg and standard deviation σ = 7.3 kg. Suppose a doe that weighs less than 61 kg is considered undernourished.
(a) What is the probability that a single doe captured (weighed
and released) at random in December is undernourished? (Round your
answer to four decimal places.)
(b) If the park has about 2650 does, what number do you expect to
be undernourished in December? (Round your answer to the nearest
whole number.)
does
(c) To estimate the health of the December doe population, park
rangers use the rule that the average weight of n = 45
does should be more than 67 kg. If the average weight is less than
67 kg, it is thought that the entire population of does might be
undernourished. What is the probability that the average weight
x
for a random sample of 45 does is less than 67 kg (assuming a
healthy population)? (Round your answer to four decimal
places.)
(d) Compute the probability that
x
< 71.2 kg for 45 does (assume a healthy population). (Round your answer to four decimal places.)
In: Statistics and Probability
Let x be a random variable that represents the weights in kilograms (kg) of healthy adult female deer (does) in December in a national park. Then x has a distribution that is approximately normal with mean μ = 60.0 kg and standard deviation σ = 8.4 kg. Suppose a doe that weighs less than 51 kg is considered undernourished.
(a) What is the probability that a single doe captured (weighed and released) at random in December is undernourished? (Round your answer to four decimal places.)
(b) If the park has about 2350 does, what number do you expect to be undernourished in December? (Round your answer to the nearest whole number.)
(c) To estimate the health of the December doe population, park rangers use the rule that the average weight of n = 50 does should be more than 57 kg. If the average weight is less than 57 kg, it is thought that the entire population of does might be undernourished. What is the probability that the average weight x for a random sample of 50 does is less than 57 kg (assuming a healthy population)? (Round your answer to four decimal places.)
(d) Compute the probability that x < 61.2 kg for 50 does (assume a healthy population). (Round your answer to four decimal places.)
In: Statistics and Probability
Most armadillos of the genus Dasypus give birth to four monozygotic young (i.e., identical quadruplets).
Which statement is correct?
A random variable that could be studied while monitoring this species could be the number of male young born.
Because there are four babies, the probability of four males or four females must be 1/4 .
Because the young are all identical, there is no randomness.
In the long run, an equal number of males and females will be born.
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Parking is often a challenge, and it is also expensive to park on many college campuses. It is very tempting to park without paying, but there is a risk of getting a ticket. Based on empirical data, here is a probability table that quantifies the chances of various outcomes.
| Event | No ticket | Warning | Fine | Towed |
|---|---|---|---|---|
| Probability | 0.4 | 0.4 | 0.1 | ?? |
Which statement is not true?
Suppose you park for two days and that the probability above is the same for both days and each day’s outcome does not affect the other day’s outcome. The probability that you will have no ticket over this two‑day period is 0.36.
You parked on campus from Monday to Thursday and did not receive a ticket. Then the probability of no ticket on Friday (assuming each day’s events are independent) is still 0.40.
The probability of being towed is 0.10.
The probability that you will be fined or towed is 0.20.
In: Statistics and Probability
Jose and Emily work as auditors for the state of Texas. They have been assigned to the audit of the Lone Star School District. There have been some problems with audit documentation for the travel and entertainment reimbursement claims of the manager of the school district. The manager knows about the concerns of Jose and Emily, and he approaches them about the matter. The following Conversations takes place:
Manager: Listen, I've requested the documentation you asked for, but the hotel says it's no longer in its system.
Jose: Don't you have the credit card receipt or credit card statement?
Manager: I paid cash.
Jose: What about a copy of the hotel bill?
Manager: I threw it out.
Emily: That's a problem. We have to document all your travel and entertainment expenses for the city manager's office.
Manager: Well, I can't produce documents that the hotel can't find. What do you want me to do?
Questions: Multiple Choice
The manager seems to be failing in regard to which Pillar of Character?
A. Caring
B. Respect
C. Responsibility
D. Fairness
If Jose and Emily decide to report this incident to the school, they would be operating under which Pillar of Character?
A. Caring
B. Respect
C. Responsibility
D. Fairness
In: Accounting