three customers contribute between 27% and 74% revenue 2004-2006 questions

Questions

Using PROC FORMAT and PROC FREQ for following data: (a) Define an appropriate format for the...

Using PROC FORMAT and PROC FREQ for following data:

(a) Define an appropriate format for the gender variable.

(b) Produce a 2 X 2 table with gender as the rows and lenses as the columns.

(c) Calculate the relative risk and provide a one sentence written interpretation explicitly stating which groups are being compared and defining the outcome.

(d) Perform a chi-squared test of association between gender and needing contact lenses. What are the results of the test (i.e. do you reject the hypothesis?)

Obs	id	carrot	gender	latitude	lenses
1	1	0	1	33	1
2	2	0	2	46	1
3	3	1	1	32	1
4	4	0	2	26	0
5	5	1	1	25	1
6	6	1	2	48	0
7	7	0	1	39	1
8	8	0	2	24	0
9	9	0	1	35	0
10	10	0	1	42	1
11	11	1	1	35	0
12	12	0	2	44	0
13	13	1	1	35	1
14	14	1	1	25	0
15	15	1	1	24	0
16	16	1	1	38	0
17	17	1	1	28	1
18	18	0	1	43	0
19	19	1	1	44	0
20	20	0	1	46	1
21	21	0	1	37	1
22	22	0	2	33	0
23	23	0	2	42	1
24	24	1	2	31	1
25	25	0	2	46	1
26	26	0	1	32	1
27	27	0	2	30	0
28	28	0	2	27	1
29	29	1	1	45	0
30	30	1	1	39	0
31	31	0	2	47	1
32	32	1	1	39	0
33	33	1	1	48	1
34	34	0	1	47	0
35	35	0	1	32	0
36	36	0	1	31	0
37	37	1	2	26	1
38	38	0	2	28	1
39	39	0	1	25	1
40	40	1	2	25	0
41	41	1	1	31	0
42	42	1	2	47	1
43	43	1	1	32	1
44	44	1	2	24	1
45	45	1	2	37	0
46	46	1	2	26	0
47	47	0	2	41	1
48	48	0	2	43	1
49	49	0	1	45	1
50	50	0	1	27	1
51	51	1	1	31	0
52	52	0	2	40	0
53	53	0	2	37	0
54	54	1	2	48	0
55	55	0	2	26	0
56	56	0	2	33	1
57	57	0	1	48	1
58	58	1	2	24	1
59	59	0	1	32	1
60	60	1	1	40	1
61	61	0	2	45	0
62	62	1	1	40	0
63	63	0	1	36	1
64	64	0	2	42	0
65	65	1	2	44	0
66	66	0	1	44	1
67	67	1	2	47	0
68	68	1	2	27	1
69	69	1	1	33	1
70	70	0	1	29	1
71	71	0	1	42	0
72	72	1	1	40	0
73	73	0	2	44	1
74	74	1	2	41	0
75	75	1	2	26	1
76	76	1	2	27	0
77	77	0	2	29	1
78	78	0	1	33	1
79	79	1	2	31	1
80	80	1	2	33	0
81	81	1	1	43	1
82	82	1	2	33	1
83	83	0	2	43	1
84	84	0	1	39	1
85	85	1	2	47	0
86	86	1	1	46	1
87	87	1	2	27	0
88	88	1	2	38	0
89	89	1	1	34	0
90	90	1	1	40	0
91	91	1	1	27	1
92	92	0	1	29	1
93	93	1	1	43	1
94	94	0	1	40	0
95	95	1	1	31	0
96	96	1	2	38	0
97	97	0	2	30	1
98	98	1	2	26	0
99	99	0	1	43	1
100	100	0	2	33	1

In: Statistics and Probability

Potter Company began operating in 2007. During 2007, it provided $308,000 in services to customers on...

Potter Company began operating in 2007. During 2007, it provided $308,000 in services to customers on account and collected 260,000 in cash from its accounts receivable. At the end of the year, it adjusted its accounts based on the estimate that 1% of the revenue on account would not be collected.

Prepare the journal entries to record all transactions related to accounts receivable.

Account titles: Debit: Credit:

What was the net realizable value of Potter's accounts receivable at the end of 2007?

Is this correct?

account titles debit credit

A/R 308,000

service revenue 308,000

cash 260,000

A/R 260,000

allowance for doubtful acc. 3,080

A/R 3,080

Net realizable value:

308,000 x 0.01= 3,080

308,000-3,080-260,000=44,920

In: Accounting

McDowell's is considering adding a healthy alternative to its traditional dinner meal. This proposed

McDowell's is considering adding a healthy alternative to its traditional dinner meal. This proposed healthy meal will consist of two components: a quinoa & spinach salad and a wheatgrass smoothie. A sector of the company's management wants to use the Shapley method to allocate revenues. This sector of management has already solicited a market research firm to conduct a survey which will determine which component of this new, healthier meal will be the primary factor that causes customers to purchase the meal. Pricing information and the results of the market research are as follow:

Determine how much revenue will be allocated to each product using the Shapley method.
Your Answer
The revenue from the new, healthier meal will be allocated to the quinoa & spinach salad and the wheatgrass smoothie using the Shapley method.

In: Accounting

Eureka Design Bhd entered into a contract to deliver one of its fixtures and fittings to...

Eureka Design Bhd entered into a contract to deliver one of its fixtures and fittings to Creative Landscaping Bhd on 1st July 2020. The contract requires Creative Landscaping to pay the contract price of RM30,000 in advance on 15th July 2020. Creative pays Eureka on 15th July 2020 and Eureka delivers the fixtures and fittings (with cost of RM19,000) on 31st July 2020.

Required:

i) Explain the 5-step of revenue recognition as outlined in MFRS 15 Revenue from Contract With Customers.

ii) Prepare the journal entry on 1st July 2020 for Eureka Design Bhd.

iii) Prepare the journal entry on 15th July 2020 for Eureka Design Bhd.

iv) Prepare the journal entry on 31st July 2020 for Eureka Design Bhd.

In: Accounting

Support SUPERTEL, a new Telecommunication company, in calculating the Lifetime Value per customer based on the...

Support SUPERTEL, a new Telecommunication company, in calculating the Lifetime Value per customer based on the following assumptions: Perform the necessary calculations (A THROUGH K NEEDS TO BE CALCULATED):

	Year 1	Year 2	Year 3	Year 4	Year 5
*Revenue*
A Customers	2,000
B Retention rate	30 %	40 %	55 %	65 %	70 %
C Average yearly sales	$250	$250	$250	$250	$250
D Total revenue
Costs
E Cost percentage	50 %	50 %	50 %	50 %	50 %
F Total costs
Profits
G Gross profit
H Discount rate	1	1.15
I NPV profit
J Cumulative NPV profit
K Lifetime value (NPV)

In: Accounting

1. A variable is normally distributed in the population with a mean of 100 and a...

1. A variable is normally distributed in the population with a mean of 100 and a standard deviation of 10. A sample of 20 is randomly selected. The probability that the sample mean is between 90 and 110 is _______ the probability that the variable is between 90 and 110.

greater than

less than

equal to

not comparable with

2.the general manager of a logistic consulting group believes that 28% of the firm's orders come from new customers. A simple random sample of 120 orders was selected. Using the manager's belief, determine:

1. The standard error for the sampling distribution of proportion. (3 decimal places)

2. The probability that the proportion of firm's orders that come from new customers is outside the range of 25% to 31% (3 decimal places)

In: Math

Which of the following statements about perfect price discrimination is false?

Which of the following statements about perfect price discrimination is false?

		A condition for perfect price discrimination is that it must be costlier to service some customers than others.
		There is no consumer surplus if a firm engages in perfect price discrimination.
		For the price-discriminating firm, its marginal revenue curve coincides with its demand curve.
		Perfect price discrimination occurs when the seller charges the highest price each consumer would be willing to pay for the product.

In: Economics

Which of the following statements is true of monopolies? i. They have market power, so they...

Which of the following statements is true of monopolies?

i. They have market power, so they can increase their price without losing customers.

ii. Their marginal revenue is less than their price.

iii. They earn a profit by producing at a point where price is greater than marginal cost.

a. i only

b. ii only

c. i and ii only

d. ii and iii only

e. i, ii and iii are all true

In: Economics

This is the trial balance of Solis Company on September 30. SOLIS COMPANY Trial Balance September...

This is the trial balance of Solis Company on September 30.

SOLIS COMPANY Trial Balance September 30, 2014
	Debit	Credit
Cash	$ 23,400
Accounts Receivable	6,800
Supplies	4,300
Equipment	10,200
Accounts Payable		$ 9,000
Unearned Service Revenue		3,300
Common Stock		19,200
Retained Earnings		13,200
	$44,700	$44,700

The October transactions were as follows.

Oct. 5		Received $1,360 in cash from customers for accounts receivable due.
10		Billed customers for services performed $5,740.
15		Paid employee salaries $1,200.
17		Performed $640 of services in exchange for cash.
20		Paid $1,850 to creditors for accounts payable due.
29		Paid a $250 cash dividend.
31		Paid utilities $490.

Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1.

Cash

Accounts Receivable

Supplies

Equipment

Accounts Payable

Unearned Service Revenue

Common Stock

Retained Earnings

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit

Post to the ledger accounts. (Post entries in the order of information presented in the question.)

Cash
10/1	Bal.	23,400




Accounts Receivable
10/1	Bal.	6,800


Supplies
10/1	Bal.	4,300

Equipment
10/1	Bal.	10,200

Accounts Payable
			10/1	Bal.	9,000

Unearned Service Revenue
			10/1	Bal.	3,300

Common Stock
			10/1	Bal.	19,200

Retained Earnings
			10/1		13,200

Dividends


Service Revenue



Salaries and Wages Expense


Utilities Expense

Prepare a trial balance on October 31, 2014.

SOLIS COMPANY Trial Balance October 31, 2014
	Debit	Credit
	$	$











	$	$

In: Accounting

Dmitri and Jake are considering contributing toward the creation of a botanical garden.

3. Voluntary contributions toward a public good

Dmitri and Jake are considering contributing toward the creation of a botanical garden. Each can choose whether to contribute $300 to the botanical garden or to keep that $300 for a new suit.

Since a botanical garden is a public good, both Dmitri and Jake will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.70 of benefit. For example, if both Dmitri and Jake choose to contribute, then a total of $600 would be contributed to the botanical garden. So, Dmitri and Jake would each receive $420 of benefit from the botanical garden, and their combined benefit would be $840. This is shown in the upper left cell of the first table.

Since a new suit is a private good, if Dmitri chooses to spend $300 on a new suit, Dmitri would get $300 of benefit from the new suit and Jake wouldn't receive any benefit from Dmitri's choice. If Dmitri still spends $300 on a new suit and Jake chooses to contribute $300 to the botanical garden, Dmitri would still receive the $210 of benefit from Jake's generosity. In other words, if Dmitri decides to keep the $300 for a new suit and Jake decides to contribute the $300 to the public project, then Dmitri would receive a total benefit of $300 + 8210 = $510, Jake would receive a total benefit of $210, and their combined benefit would be $720. This is shown in the lower left cell of the first table.

Complete the following table, which shows the combined benefits of Dmitri and Jake as previously described.

Of the four cells of the table, which gives the greatest combined benefits to Dmitri and Jake?

When both Dmitri and Jake contribute to the botanical garden
When neither Dmitri nor Jake contributes to the botanical garden
When Dmitri contributes to the botanical garden and Jake doesn't, or vice versa

Now, consider the incentive facing Dmitri individually. The following table looks similar to the previous one, but this time, it is partially completed with the individual benefit data for Dmitri. As shown previously, if both Dmitri and Jake contribute to a public good, Dmitri receives a benefit of $420. On the other hand, if Jake contributes to the botanical garden and Dmitri does not, Dmitri receives a benefit of $510.

Complete the right-hand column of the following table, which shows the individual benefits of Dmitri.

Hint: You are not required to consider the benefit of Jake.

If Jake decides to contribute to the botanical garden, Dmitri would maximize his benefit by choosing _______ to the botanical garden. On the other hand, if Jake decides not to contribute to the botanical garden, Dmitri would maximize his benefit by choosing _______ to the botanical garden.

These results illustrate _______ .

In: Economics