A local real estate investor in Orlando is considering five alternative investments: a day spa, a theater, a restaurant, a motel, or a gift shop. Profits from the day spa, theater, gift shop or restaurant will be affected by the cost of gasoline; profits from the restaurant will be relatively stable under any condition.
The following payoff table shows the profit or loss that could result from each investment.
Determine the best investment using the minimax regret decision criterion.

Group of answer choices

Restaurant

Day Spa

Gift Shop

Theater

Motel

Next

Accorsi & Sons specializes in selling upscale home theater systems. As a package deal, Accorsi sells a premium home theater package that includes a projector and a one year subscription to premium cable channels for $2,100. Accorsi sells individual projectors for $2,000 and sells individual one-year subscriptions to premium cable channels for $500.

On March 1, 2018, Accorsi delivers a premium home theater package to Valley Hills Nursing Home, which includes the projector and the one-year subscription to the premium cable channels at a price of $2,100. On April 15, 2018, Accorsi receives $2,100 from Valley Hills Nursing Home.

Required:

1. Identify the performance obligation(s) in the premium home theater package?

2. How much revenue will be allocated to each performance obligation?

3. What journal entry (if any) will Accorsi record on March 1, 2018 to record the revenue from the sale of the premium home theater package?

4. What journal entry (if any) will Accorsi record on March 31, 2018?

5. What journal entry will Accorsi record when they receive payment from Valley Hills Nursing Home?

Using the miles driven data, test the following claims:

1. 50% of drivers travel less than 40 miles per day.
2. One-third of drivers never travel more than 50 miles per day.
3. 50% of drivers travel less than 350 miles per week.    
4. One-third of drivers never travel more than 400 miles per week.  

Mr. John Backster, a retired executive, desires to invest a portion of his assets in rental property. He has narrowed his choices to two apartment complexes, Windy Acres and Hillcrest Apartments. The anticipated annual cash inflows from each are as follows:

Mr. Backster is likely to hold the apartment complex of his choice for about 20 years and will use this period for decision-making purposes. Either apartment can be purchased for $180,000. Mr. Backster uses a risk-adjusted discount rate approach when evaluating investments. His scale is related to the coefficient of variation (for other types of investments, he also considers other measures).

a. Compute the risk-adjusted net present value for Windy Acres and Hillcrest Apartments. (Round "PV Factor" to 3 decimal places. Enter the answers in thousands of dollars. Do not round intermediate calculations. Round the final answers to nearest whole dollar.)

b-1. Which investment should Mr. Backster accept if the two investments are mutually exclusive?

• Hillcrest

• Windy Acres

• Both

• None

b-2. Which investment should Mr. Backster accept If the investments are not mutually exclusive and no capital rationing is involved?

• Windy Acres

• Hillcrest Apartments

• Both

• None

1. x2/3 + 3x1/3 and y = 10. What are the values of X?

A) -2, 5

B) -5, 2

C) -125, 8

D) -8, 125

E) None of the above

2. When a number is decreased by 20% of itself, the result is 144. What is the number?

  36

  72

  180

  900

3. A car rental agency charges $175 per week plus $0.20 per mile to rent a car. How many miles can you travel in one week for $295? ?

  234 miles

  575 miles

  600 miles

  1295 miles

?

1755 miles ?

4. The length of a rectangular room is 6 feet longer than twice the width. If the room's perimeter is 156 feet, what are the room's dimensions? ?

Width = 24 ft; length = 54 ft

Width = 29 ft; length = 64 ft

Width = 36 ft; length = 42 ft

Width = 48 ft; length = 108 ft

Width = 52 ft; length = 48 ft

5. Find the result of

-19

6-25i

6 + 5i

31

None of the above

6. Fine the answer for | 2(x+1) + 4 | =10

  {-6, 0}

  {-6, 4}

  {-6, 8}

  {-8, 0}

  {-8, 2}

7. A landscaping company sells 40-pound bags of top soil. The actual weight x of a bag, however, may differ from the advertised weight by as much as 0.75 pound. Write an inequality involving absolute value that expresses the relationship between the actual weight x of a bag and 40 pounds. Solve the inequality, and express the answer in interval form. ?

|40 - x|? 0.75; [39.25, 40.75]

|40 + x| ? 0.75; [39.25, 40.75]

|x + 0.75| ? 40; [39.25, ?)

|x|- 40 ? 0.75 ; (-?, 40.75]

None of the above

8. Write an equation that passes through (1, -6) with x-intercept = -1.

  y + 6 = - 3(x - 1) or y = - 3(x - 1)

y + 6 = - 3(x - 1) or y = - 3(x + 1)?

  y - 6 = - 3(x + 1) or y = - 3(x + 1)

  y - 6 = - 3(x - 1) or y = - 3(x - 1)

  y - 1 = - 3x or y - 6 = - 3(x + 1)

9. Suppose a life insurance policy costs $20 for the first unit of coverage and then $5 for each additional unit of coverage. Let C(x) be the cost of insurance of x units of coverage. What will 10 units of coverage cost?

  $45

  $55

  $65

  $75

10. An investment is worth $2282 in 2006. By 2010 it has grown to $2986. Let y be the value of the investment in year x, where x =0 represents 2006. Write a linear equation that models the value of the investment in the year x.

11. What is the equation for the line that passes through (4, 3) and perpendicular to the line whose equation is y = 8x + 7.

(x – 3)

(x + 3)

(x – 4)

y (x + 4)

12.   The linear function f(x) = -9.8x + 24 models the percentage of people, f(x), who eats at fast food restaurants each week x years after 2009. What is the slope and what does it mean?

m = 9.8; the percentage of people eating at fast food restaurants each week has decreased at a rate of 9.8% per year after 2009.

m = -9.8; the percentage of people eating at fast food restaurants each week has increased at a rate of -9.8% per year after 2009.

m = 24; the percentage of people eating at fast food restaurants each week has increased at a rate of 24% per year after 2009.

m = 24; the percentage of people eating at fast food restaurants each week has decreased at a rate of 24% per year after 2009.

m = -9.8; the percentage of people eating at fast food restaurants each week has decreased at a rate of -9.8% per year after 2009.

13. The function f(t) = models the U.S population in

millions, ages 65 and older, where t represents year after 1990. The function g(t) = models the total yearly cost of Medicare in billions of dollars, where t represents years after 1990. What does the function represents. Find

Cost per person in thousands of dollars. $0.16 thousand

Cost per person in thousands of dollars. $0.03 thousand

Cost per person in thousands of dollars. $8.64 thousand

Cost per person in thousands of dollars. $34.67 thousand

Cost per person in thousands of dollars. $30.8 thousand

14.   Find the inverse function of f(x) =

15.   Find the center and the radius of the circle

  (4, -3), r = 8

  (-3, 4), r = 8

  (-4, 3), r = 64

  (-3, -4), r = 64

  (-4, -3), r = 64

1) A consumer organization wants to develop a regression model to predict gasoline mileage​ (as measured by miles per​ gallon) based on the horsepower of the​car's engine and the weight of the car​ (in pounds). A sample of 20 recent car models was​ selected, with the results recorded in the accompanying table.

MPG 15.3, 19.2, 20.1, 18.5, 17.5, 27.2, 44.6, 27.2, 28.0, 21.2, 28.0, 36.1, 20.1, 29.9, 36.0, 36.4, 33.7, 32.9, 24.2, 39.3 Horsepower - 190, 102, 142, 171, 166,67,64,82,91, 136, 90, 67, 88, 60,75, 64, 74, 101, 119, 75 weight- 4757, 3538, 3209, 4449, 4292, 3192, 2111, 2489, 2605, 3875, 2673, 1805, 2964, 2375, 1975, 2948, 2212, 2611, 2935, 2071

a. State the multiple regression equation.

Est. Mean Mileage= ___+(__)+(__)Weight

​(Round to five decimal places as​ needed.)

b. Interpret the meaning of the​ slopes,bH and bW​, that you entered above

Each increase of one unit in horsepower is estimated to result in a

decrease in the mean gasoline mileage of ___​units, holding weight constant.

Each increase of one unit in weight is estimated to result in the decrease in the mean gasoline mileage of __units, holding horsepower constant

c. Explain why the regression​ coefficient,

b0​, has no practical meaning in the context of this problem.

A.

The interpretation of b0 has no practical meaning here because it would correspond to the estimated mean weight when a car has 0 gasoline mileage and 0 horsepower.

B.

The interpretation of b0 has no practical meaning here because it would correspond to the estimated mean gasoline mileage when a car has 0 horsepower and 0 weight.

C.

The interpretation of b0 has no practical meaning here because it would correspond to the estimated mean horsepower when a car has 0 gasoline mileage and 0 weight.

d. Predict the miles per gallon for a car that has 60 horsepower and weighs 2000 pounds.

The gasoline mileage​ (as measured by miles per​ gallon) prediction for a car that has 60 horsepower and weighs 2000 pounds is ____

miles per gallon.

​(Round to three decimal places as​ needed.)

2)A consumer organization wants to develop a regression model to predict gasoline​mileage​ (as measured by miles​ per​ gallon) based on the horsepower of​ the​ car's engine and the weight of the​ car​ (in​pounds). A sample of 20 recent car models​was​ selected, with the results recorded in the accompanying table.

The resulting ANOVA table is below. Complete parts​ (a) through​ (c).

Regression

Statistics

Multiple R

0.9770

R Square

0.9546

n

8

Source

Regression

Degrees of

Freedom

2

Sum of

Squares

16.94097

Mean Square

8.47049

F

52.56

p-value

0.0004

Error

Degrees of

Freedom

5

Sum of

Squares

0.80575

Mean Square

0.16115

total

Degrees of

Freedom

7

Sum of

Squares

17.74672

a. Determine whether the model is significant​ (overall) at the

0.05 level of significance. Choose the correct answer below.

A.

Do not reject H0. There is insufficient evidence to prove that at least one slope is not zero. We cannot prove that there is a linear relationship between mileage and at least one of the horsepower and weight.

B. Reject H0. There is insufficient evidence to prove that at least one slope is not zero. We cannot prove that there is a linear relationship between mileage and at least one of horsepower and weight.

C. Reject H0. There is sufficient evidence to prove that at least one slope is not zero.  There is a linear relationship between mileage and at least one of horsepower and weight.

D. Do not reject H0. There is sufficient evidence to prove that at least one slope is not zero.  There is a linear relationship between mileage and at least one of horsepower and weight.

b. What is the value coefficient of multiple​determination, R2, and interpret its meaning.

R2=

(Round to four decimal places as​needed.)

c. Interpret the meaning of R2.

It indicates that ___% of the variation in mileage in the sample can be explained by its linear relationship with horsepower and weight.

​(Round to two decimal places as​ needed.)

3)A consumer organization wants to develop a regression model to predict gasoline​mileage​ (as measured by miles​ per​ gallon) based on the horsepower of​ the​ car's engine and the weight of the​ car​ (in​pounds). A sample of 25 recent car models​was​ selected, with the results recorded in the accompanying table.

Variable Coefficient Std Error tstat ​p-value Lower​ 95%Upper​ 95%

Intercept 0.00282 0.05667 0.05 0.9608 -0.11471 0.12035

Horsepower-0.71635 0.03717 -19.27 0.0000 -0.79344 -0.63926

Weight -0.11854 0.08734 -1.36 0.1885 -0.29968 0.0626

At the 0.05 level of​ significance, determine whether each independent variable makes a significant contribution​ (individually) to the regression model.

Can we prove that there a relationship between mileage and​ horsepower?

*No.Do not reject the null. There is insufficient enough evidence to conclude that the slope of horsepower is not 0.

Yes. Reject the null. There is enough evidence to conclude that the slope of horsepower is not 0.

Can we prove that there a relationship between mileage and​ weight?

No. Do not reject the null. There is insufficient enough evidence to conclude that the slope of weight is not 0.

Yes.Reject the null. There is enough evidence to conclude that the slope of weight is not 0.

Dinkins Company purchased a truck that cost $81,000. The company expected to drive the truck 100,000 miles over its 5-year useful life, and the truck had an estimated salvage value of $12,500. If the truck is driven 33,500 miles in the current accounting period, what would be the amount of depreciation expense for the year? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.)

• $22,948

• $27,135

• $13,700

• $32,400

The balance sheet of Flo's Restaurant showed total assets of $400,000, liabilities of $120,000 and stockholders’ equity of $330,000. An appraiser estimated the fair value of the restaurant assets at $465,000. If Alice Company pays $585,000 cash for the restaurant, what is the amount of goodwill?

• $120,000

• $185,000

• $255,000

• $240,000

On January 1, Year 1, Friedman Company purchased a truck that cost $56,000. The truck had an expected useful life of 100,000 miles over 8 years and an $9,000 salvage value. During Year 2, Friedman drove the truck 30,000 miles. Friedman uses the units-of-production method. What is depreciation expense in Year 2? (Do not round intermediate calculations.):

• $14,100

• $16,800

• $5,875

• $7,000

Chico Company paid $610,000 for a basket purchase that included office furniture, a building and land. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Office furniture, $165,000; Building, $510,000, and Land, $135,000. Based on this information, what is the cost that should be allocated to the office furniture? (Round your intermediate percentages to four decimal places: ie .054231 = 5.42%.)

• $165,000

• $124,257

• $158,333

• $52,500

On January 1, Year 1, Friedman Company purchased a truck that cost $35,000. The truck had an expected useful life of 8 years and an $7,000 salvage value. Friedman uses the double-declining-balance method. What is the book value of the truck at the end of Year 1? (Do not round intermediate calculations.)

$19,250

• $26,250

• $28,000

• $21,000

On January 1, Year 1, the City Taxi Company purchased a new taxi cab for $72,000. The cab has an expected salvage value of $26,000. The company estimates that the cab will be driven 200,000 miles over its life. It uses the units-of-production method to determine depreciation expense. The cab was driven 54,000 miles the first year and 84,000 the second year. What is the amount of depreciation expense reported on the Year 2 income statement and the book value of the taxi at the end of Year 2, respectively? (Do not round intermediate calculations.)

• $30,240 and $22,320

• $30,240 and $-3,680

• $19,320 and $40,260

• $19,320 and $14,260

The following events apply to Gulf Seafood for the Year 1 fiscal year:

1. The company started when it acquired $35,000 cash by issuing common stock.
2. Purchased a new cooktop that cost $12,900 cash.
3. Earned $21,300 in cash revenue.
4. Paid $11,900 cash for salaries expense.
5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of five years and an estimated salvage value of $2,600. Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1.

b. Prepare a balance sheet and a statement of cash flows for the Year 1 accounting period. (Amounts to be deducted should be indicated by a minus sign.)
c. What is the net income for Year 1?

d. What amount of depreciation expense would Gulf Seafood report on the Year 2 income statement?
e. What amount of accumulated depreciation would Gulf Seafood report on the December 31, Year 2, balance sheet?
f. Would the cash flow from operating activities be affected by depreciation in Year 2?

Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,425,000. Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $370,000; Building, $1,100,000 and Equipment, $730,000. (Round percentages to two decimal places: ie .054 = 5%).

What value will be recorded for the building?

• $175,000

• $325,000

• $712,500

• $1,100,000

  What journal entry would be used to record the purchase of the above assets?

• Land	370,000
  Building	1,100,000
  Equipment	730,000
  Cash		2,200,000

• Land	370,000
  Building	1,100,000
  Equipment	730,000
  Cash		350,000
  Notes payable		1,850,000

• Land	370,000
  Building	1,100,000
  Equipment	730,000
  Cash		1,075,000
  Notes payable		350,000
  Gain on purchase of long-term assets		775,000

• Land	242,250
  Building	712,500
  Equipment	470,250
  Cash		350,000
  Notes payable		1,075,000

On April 1, Year 1, Fossil Energy Company purchased an oil producing well at a cash cost of $12,000,000. It is estimated that the oil well contains 600,000 barrels of oil, of which only 500,000 can be profitably extracted. By December 31, Year 1, 25,000 barrels of oil were produced and sold. What is depletion expense for Year 1 on this well?

• $800,000

• $600,000

• $480,000

• $500,000

  Which of the following terms is used to describe the process of expense recognition for property, plant and equipment?

• Amortization

• Depreciation

• Depletion

• Revision

Caro Manufacturing has two production departments, Machining and Assembly, and two service departments, Maintenance and Cafeteria. Direct costs for each department and the proportion of service costs used by the various departments for the month of August follow:

Assume that both Machining and Assembly work on just two jobs during the month of August: CM-22 and CM-23. Costs are allocated to jobs based on machine-hours in Machining and labor-hours in Assembly. The number of labor- and machine-hours worked in each department are as follows:

Required:
How much of the service department costs allocated to Machining and Assembly in the direct method should be allocated to Job CM-22? How much should be allocated to Job CM-23? (Round "Department rate" to 2 decimal places.)

A car wash offers both a regular wash and a deluxe wash for their customers. They track their customers over time and determine that a customer orders the deluxe wash with a probability of 0.3. They also offer air fresheners for their customer for a nominal fee and find that regular wash customers get an air freshener with a probability of 0.45, and deluxe wash customers get an air freshener with probability 0.8. Assume that the car wash only offers the regular and deluxe packages.

a.) What is the probability that a customer gets an air freshener, regardless of the type of wash they ordered?

b.) What is the probability a customer ordered the deluxe package, provided that you know they purchased an air freshener?