may 24 sold merchandise on account to old town cafe $18,450. the cost of goods sold was $11,000.
sept. receive$6,000 from old cafe and wrote off the remainder owed on the sale of may 24 as uncollectible

In Assignment 2 you considered the following setting: Near-sightedness (myopia) afflicts roughly 10% of children at age 5.

Assume that the school has a total of 600 students.

Part A. In this school, what is the expected number of students to have myopia? What is the variance?

Part B. If we assume that the students in the school form an independent and random sample, then approximate the probability that at most 60 of the students in the 600 student school have myopia.

When calculating the approximate probability, please be sure to justify the approximation (i.e. check any conditions) and show all your work in the calculation.

Part C. If we assume that the students in the school form an independent and random sample, then what is the approximate probability that at least 55 and less than 65 of the students in the 600 student school have myopia? Again, show all necessary work in this calculation.

Molly’s Home Cooking, a regional restaurant with locations in three small Southern towns, one of which is a college town, specializes in comfort foods and regional specialties. Two of the restaurants have been open for over five years. The Molly’s located in the college town opened in May 2018. The restaurants are either freestanding near other businesses or in a strip shopping/eating area. With a menu consisting of all fresh, cooked-to-order foods, Molly’s features different items daily and serves traditional Southern desserts. Some of the menu items include meatloaf, turkey cranberry salad, specialty sandwiches, salad options, barbecued beef, and fresh pecan pie. While open for lunch and dinner daily, Molly’s also offers breakfast, featuring homemade biscuits, on weekends. On the drink menu, customers will find tea, coffee, soda, and water. A couple of beers and wines are on the menu, but Molly’s does not want to be thought of as a bar. The restaurant also caters special events such as weddings and business lunches and sells boxed meals (barbecue) that feed four to six people for outdoor events such as tailgates.

Menu items are reasonably priced, but are more expensive than many fast food restaurants, while less expensive than most “sit down” restaurants. Each restaurant has the same setup, where customers place and pay for their orders at the front counter and then get glasses for drinks. They fill their own drinks and get their silverware and napkins at the back of the restaurant. Customers select their own tables and servers bring food to the table. If ordered, desserts are brought to the table at the end of the meal so that it may be served hot and with ice cream or whipped cream, if preferred. Customers may add desserts at the end of the meal and pay at the counter when finished eating. If customers prefer take-out orders, they may call in advance and pick up the order. Servers let them know how long it will take for the order to be ready.

Prior to opening a restaurant, the owners have a week of “test and training” days where they invite people from local communities for lunch or dinner. For example, they may offer local businesspeople a free lunch or invite owners from other surrounding businesses to bring their families. For the Molly’s in the college town, the owners and employees extended lunch invitations to several faculty, staff, and students and asked them each to invite a few guests. Molly’s wants to introduce members from each target market to the delicious foods on their menus. Not only does this strategy generate brand awareness, but it also creates word-of-mouth and positive public relations.

With regard to promotion, Molly’s Home Cooking, like many other small businesses, has a limited promotion budget. They use social media, primarily Facebook, where they promote daily specials. For the restaurant located in the college town (about a mile from campus), Molly’s placed an advertisement in the university’s student newspaper early in the fall semester. They also placed signs in front of the restaurant to attract visitors.

Molly’s has many repeat customers at each established restaurant. Those restaurants also attract consumers who are traveling or sightseeing in nearby areas. The newest Molly’s in the college town opened right before the majority of students went home for summer internships. Many faculty do not teach in the summer, so the town becomes very quiet during the summer months. Molly’s Home Cooking wants to increase awareness, get more repeat customers, and increase profits.

1. For Molly’s Home Cooking in the college town, what promotion strategies do you recommend to attract faculty, staff, and students from the university?

2. Without spending much on promotion or changing menu prices, how can Molly’s generate loyal customers in established markets and in the college town?

3. Other than running one ad in the student newspaper, Molly’s has the same setup, menus, prices, and promotion (Facebook page) in each market. Given that Molly’s has a very limited budget, should the restaurant change anything for different target markets (e.g., travelers, families, local businesses, college population)?

Molly’s Home Cooking, a regional restaurant with locations in three small Southern towns, one of which is a college town, specializes in comfort foods and regional specialties. Two of the restaurants have been open for over five years. The Molly’s located in the college town opened in May 2018. The restaurants are either freestanding near other businesses or in a strip shopping/eating area. With a menu consisting of all fresh, cooked-to-order foods, Molly’s features different items daily and serves traditional Southern desserts. Some of the menu items include meatloaf, turkey cranberry salad, specialty sandwiches, salad options, barbecued beef, and fresh pecan pie. While open for lunch and dinner daily, Molly’s also offers breakfast, featuring homemade biscuits, on weekends. On the drink menu, customers will find tea, coffee, soda, and water. A couple of beers and wines are on the menu, but Molly’s does not want to be thought of as a bar. The restaurant also caters special events such as weddings and business lunches and sells boxed meals (barbecue) that feed four to six people for outdoor events such as tailgates.

Menu items are reasonably priced, but are more expensive than many fast food restaurants, while less expensive than most “sit down” restaurants. Each restaurant has the same setup, where customers place and pay for their orders at the front counter and then get glasses for drinks. They fill their own drinks and get their silverware and napkins at the back of the restaurant. Customers select their own tables and servers bring food to the table. If ordered, desserts are brought to the table at the end of the meal so that it may be served hot and with ice cream or whipped cream, if preferred. Customers may add desserts at the end of the meal and pay at the counter when finished eating. If customers prefer take-out orders, they may call in advance and pick up the order. Servers let them know how long it will take for the order to be ready.

Prior to opening a restaurant, the owners have a week of “test and training” days where they invite people from local communities for lunch or dinner. For example, they may offer local businesspeople a free lunch or invite owners from other surrounding businesses to bring their families. For the Molly’s in the college town, the owners and employees extended lunch invitations to several faculty, staff, and students and asked them each to invite a few guests. Molly’s wants to introduce members from each target market to the delicious foods on their menus. Not only does this strategy generate brand awareness, but it also creates word-of-mouth and positive public relations.

With regard to promotion, Molly’s Home Cooking, like many other small businesses, has a limited promotion budget. They use social media, primarily Facebook, where they promote daily specials. For the restaurant located in the college town (about a mile from campus), Molly’s placed an advertisement in the university’s student newspaper early in the fall semester. They also placed signs in front of the restaurant to attract visitors.

Molly’s has many repeat customers at each established restaurant. Those restaurants also attract consumers who are traveling or sightseeing in nearby areas. The newest Molly’s in the college town opened right before the majority of students went home for summer internships. Many faculty do not teach in the summer, so the town becomes very quiet during the summer months. Molly’s Home Cooking wants to increase awareness, get more repeat customers, and increase profits.

1. For Molly’s Home Cooking in the college town, what promotion strategies do you recommend to attract faculty, staff, and students from the university?

2. Without spending much on promotion or changing menu prices, how can Molly’s generate loyal customers in established markets and in the college town?

3. Other than running one ad in the student newspaper, Molly’s has the same setup, menus, prices, and promotion (Facebook page) in each market. Given that Molly’s has a very limited budget, should the restaurant change anything for different target markets (e.g., travelers, families, local businesses, college population)?

For a school, the principal expected that a student takes 45 minutes to travel to school on average. Suppose the time taken to travel to school by a student follows a normal distribution. 100 students are randomly selected from the school for interview and they took on average 44 minutes to travel to school with a standard deviation of 15 minutes. 6 of the selected students had lateness record in the last month.

1. How large a sample is required to ensure the estimate of p is accurate within 2% with a confidence level of 97%?
2. By using critical value approach to perform a hypothesis testing for the principal’s claim that under (10 of all students had lateness record in the last month at level of significant α = 0.01. Correct the test statistics to 2 decimal places.

For a school, the principal expected that a student takes 45 minutes to travel to school on average. Suppose the time taken to travel to school by a student follows a normal distribution. 100 students are randomly selected from the school for interview and they took on average 44 minutes to travel to school with a standard deviation of 15 minutes. 6 of the selected students had lateness record in the last month.

1. Construct a 95% confidence interval for the true mean time taken to travel to school by a student. Correct the final answers to 2decimal places.
2. How many additional sample is needed to ensure the estimate of μ is accurate within 0.8 minutes with a confidence of 94% and σ is known to be 10 minutes.
3. By using critical value approach to perform a hypothesis testing for the principal’s claim that the true mean time taken to travel to school by student was 45minutes at level of significant α= 0.05. (if σ is unknown) Correct the final answers to 2 decimal places.
4. Construct a 92.5% confidence interval for the true proportion (p) of students who had lateness record in the last month. Correct the final answers to 4decimal places.
5. How large a sample is required to ensure the estimate of p is accurate within 2% with a confidence level of 97%?
6. By using critical value approach to perform a hypothesis testing for the principal’s claim that under (10 of all students had lateness record in the last month at level of significant α = 0.01. Correct the test statistics to 2 decimal places.

A superintendent of a school district was requested to present to the school board demographic data based on the schools within the district. One item that the superintendent had to present was the percent of students who were eligible for free or reduced price lunch (a commonly used proxy for socio-economic status). The following percents were reported for the 40 schools in the district: 53.7 52.4 73.1 49.6 58.4 54.7 54.7 45.0 74.7 79.4 47.2 52.4 21.4 37.5 76.0 67.3 27.1 84.5 39.9 44.9 27.2 31.1 42.9 44.7 24.1 61.4 43.6 58.9 38.1 58.4 34.6 64.9 55.6 56.5 58.8 41.4 35.6 68.1 34.3 75.5 Questions: 1. What is the value of the sample size for this analysis? 2. What is the mean percent of students receiving free or reduced price lunch for this district? 3. What is the median percent of students receiving free or reduced price lunch for this district? 4. What is the lowest percent of students receiving free or reduced price lunch for this district? 5. What is the highest percent of students receiving free or reduced price lunch for this district? 6. What is the value of the range? 7. What is the value of the standard deviation? 8. What is the value of the skewness statistic? 9. What are the values of the 25th, 50th, and 75th percentiles? 10. Present the results as they might appear in an article. This must include a table and narrative statement that provides a thorough description of the central tendency and distribution of the percent of students receiving free or reduced price lunch for this district. Note: The table must be created using your word processing program. Tables that are

A private school is considering the purchase of six school buses to transport students to and from school events. The initial cost of the buses is $600,000. The life of each bus is estimated to be 5 years, after which time the vehicles would have to be scrapped with no salvage value. The school’s management team has derived the following estimates for annual revenues and cost for the next 5 years.

The buses would be purchased at the beginning of the project (i.e., in Year 0) and all revenues and expenditures shown in the table above would be incurred at the end of each relevant year.

Because schools are exempt from taxes, the school’s corporate tax rate is 0 percent. A business consultant has advised management that they should use a weighted average cost of capital (WACC) of 10.5% to evaluate this project.

• Prepare a table showing the estimated net cash flows for each year of the project. Explain all steps involved in your calculation of the Year 1 estimated net cash flow.
• Calculate the project’s Payback Period. Explain in your own words, all steps involved in the calculation process.
• Calculate the project’s Internal Rate of Return (IRR). Explain in your own words, all steps involved in the calculation process.
• Calculate the project’s Net Present Value (NPV). Explain in your own words, all steps involved in the calculation process.

2. A whale wants to detect a school of fish by sonar. The school is 20 m wide, and the speed of sound in seawater (density ρ = 1020 kg/m3 ) is 1500 m/s.

a) What is the minimum echolocation frequency that the whale should use to locate the fish?

b) Suppose that the fish are neutrally buoyant thanks to their swim bladders. What fraction of their body volume should be made of air? Assume that the density of the rest of the body (ignoring the swim bladder) is 1060 kg/m3 , and the density of air is 1.3 kg/m3 .

c) A clever fish might try to “acoustically camoflage” itself to sonar by matching its acoustic impedance to that of water. The speed of sound in the fish’s flesh is 1580 m/s. The speed of sound in the air of the swim bladder is 343 m/s. Discuss whether it might be possible to use the swim bladder to adjust the acoustic impedance of the fish to match that of the surrounding water. If this is possible, for what range of frequencies would this trick work?