The following data give the average price received by fishermen for several species of fish in 2000 and 2010. The price is in cents per pound.

1. Create a regression equation for the data.
   
   ˆy=y^=    Round to 2 decimal places.
   
2. What is the correlation coefficient between the 2000 and 2010 prices.
   
   Round to 2 decimal places.
   
3. If a type of fish was 41.3 cents per pound in 2000, how much would you expect to pay for it in 2010?
   
   ¢/lbs Round to 1 decimal places.

Use the information above to forecast the next two year revenue for Exxon Mobil. Based your forecasts on the average of the actual revenue growth between 2009 to 2010 and 2010 to 2011.

Use the information above to forecast the next two years cost of revenue and selling, general, and administrative expenses for Exxon Mobil. Base your forecasts on the actual relationship between these expenses and revenue for 2011.

The following data give the average price received by fishermen for several species of fish in 2000 and 2010. The price is in cents per pound.

1. Create a regression equation for the data.
   
   ˆy= (Round to 2 decimal places)
   
2. What is the correlation coefficient between the 2000 and 2010 prices?
   
   _____(Round to 2 decimal places.)
   
3. If a type of fish was 41.3 cents per pound in 2000, how much would you expect to pay for it in 2010?
   
   _____¢ per lbs (Round to 1 decimal places.)

JE to Record R&D and Patent

6. During 2010, Bills Corporation spent $170,000 in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1, 2010, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $18,000 related to the patent were included as of October 1, 2010.

(a) Prepare all journal entries in 2010 and 2011 as a result of the transactions above.

(b) On June 1, 2012, Bills spent $9,480 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2012. Prepare all journal entries required in 2012 and 2013.

(c) In 2014, Bills determined that a competitor’s product would make the New Age Piano obsolete and the patent worthless by December 31, 2015. Prepare all journal entries required in 2014 and 2015.

A company is research a new drug for cancer treatment. The drug is designed to reduce the size of a tumor. You are asked to test its effectiveness. You proceed to take samples from patients that are trying the drug. For each patient you take two measurements of its tumor, before and after the treatment. You want to see if the tumor's size has decreased. Assume the population distribution is normal and α = 0.05. The results of the samples (in millimeters, before and after treatment) are as follows:

Exercise 23-11

Condensed financial data of Culver Company for 2020 and 2019 are presented below.

Additional information:

During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Condensed financial data of Splish Company for 2020 and 2019 are presented below.

Additional information:

During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Condensed financial data of Martinez Company for 2020 and 2019 are presented below.

Additional information:

During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020.

Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)