QUESTION 1:

Researchers claim that women speak significantly more words per day than men. One estimate is that a woman uses about 20,000 words per day while a man uses about 7,000. To investigate such claims, one study used a special device to record the conversations of male and female university students over a four- day period. From these recordings, the daily word count of the 20 men in the study was determined. Here are their daily word counts:

What value we should remove from observation for applying t procedures?

A 90% confidence interval (±±10) for the mean number of words per day of men at this university is from  to  words.

Is there evidence at the 10% level that the mean number of words per day of men at this university differs from 7000?

QUESTION 2:

You are testing H₀: µ = 100 against H_a: µ < 100 based on an SRS of 16 observations from a Normal population. The data give x¯¯¯x¯ = 9.5 and s = 5.9.

The value of the t statistic (±0.01) is  

Statistics and Graphical Displays

Valencia Orange Price Comparison

You have been hired as a consultant to determine who ABC Grocery Store should be ordering Valencia Oranges from.

To: Statistician

From: ABC Grocery Store

Please advise us on which company to use as our orange distributor. Three highly recommended distributors have provided us with statistical data on the weekly prices for one load of Valencia oranges per week for a ten-week period last year. Prices fluctuate according to availability, and we would like to use the company with the lowest overall price and the least amount of fluctuation. We would like your written report showing your results and a detailed recommendation as to which company we should choose.

Here are the prices, listed as price in dollars per crate:

You must type in and analyze the data for each company.    

Helpful directions:

1. Analyze the data for each company: frequency, relative frequency, mean, median, mode, standard deviation, and range. (I already made a chart which is show right below this question for this and answered it. I just need help with the rest please)

2. 	The Fruit Guys	Sunny Oranges	Tree Groves
   Mean	327	318	317.9
   Median	327.5	315	315
   Mode	350	315	290,320
   Standard Deviation	20.761	20.273	22.421
   Range	65	60	69
   Frequency	3270	3180	3179
   Relative Frequency	355	350	359

3. You need to decide which statistics to compare to determine the overall lowest price and the least fluctuation. Create and include at least two charts that will be useful to best support your conclusions. (PLEASE DRAW THE CHARTS, THANK YOU!)
4. Write a brief informative letter in response to the request from ABC Grocery answering their request. Be sure to include:
   1. A very detailed explanation of the data and the conclusions you came to. You should use the statistics you calculated to make this decision. (HELPPPPP PLEASEEEE! THANK YOU******)
   2. Charts to support your explanation.
5. Attach copies of the Excel pages or embed the Excel work in your letter of response.

You are an Audit Senior currently planning the 30 June 20X8 audit of Forest Limited, an Australian-owned company that produces and exports woodchips to Japan. Forest’s operations are located in Eden, on the far south coast of NSW. Timber is purchased from forests nearby, processed into woodchips and immediately stockpiled for export at the company’s shipyards at Twofold Bay. Forest contracts timber cutters to deliver set tonnages of logs to its mill throughout the year. Woodchips are transported to Japan on charter vessels, which make an average of one trip a month.

At a recent planning meeting with Forest Limited’s senior staff, you obtained the following overview of this year’s operations:

A massive conveyor belt is used to transport the woodchips from the mill to the stockpile. The manufacturer of this belt was recently taken over by an overseas competitor of Forest Limited, Chipper Limited, which processes woodchips in several South-East Asian countries. Chipper Limited has indicated that it is willing to sell equipment to its competitors, but at double the price it will sell to its other customers. It is doubtful whether any other companies in the world manufacture such specialised conveyor belts.

Based on current usage figures, it is expected that the existing conveyor belt will last until December 20X9. Sufficient spare parts are on hand to carry out routine maintenance work. However, should a replacement belt be required, it would take at least six months to have a replacement made and shipped to Australia, and a further four weeks to install and test it. It is unlikely that the company could survive a six-month interruption to normal operations. Management are currently deciding whether they should order a replacement belt from Chipper Limited despite the excessive cost, or continue to search for an alternate supplier.

Timber is purchased in 50 hectare lots from plantations and state forests. In the past, 70% of timber was sourced from plantations, however this has fallen to 50% in the current year. The corresponding increase in timber sourced from state forests has angered environmental groups. Protests have been held in several forests, which has slowed production and frustrated the contractors, who are only paid once set tonnages of timber are delivered to the mill. In addition, several shipments of woodchips have been delayed, angering the Japanese customers who are threatening to deduct 20% from amounts owing as compensation for lost production time.

Last month, a protester suffered a broken leg, allegedly because he was hit by a timber truck. The protester was blocking the main access road to one of the state forests at the time of the accident. The protester is now suing Forest Limited for damages, claiming the contractor was in fact an employee of Forest Limited at the time of the accident, and was acting on Forest Limited’s instructions. Forest Limited is fighting the case and appears to have a reasonable chance of winning; however, the adverse publicity being
generated is making the state government nervous about selling Forest Limited any more of its timber resources.

One of Forest Limited’s customers, Wood Limited, is claiming that the latest batch of woodchips it received was contaminated with a microbe. This microbe affects the physical structure of the chips, reducing the pressure the chips can withstand when compressed. This has made the chips useless for heavy duty items such as desks and bookcases. Wood Limited is refusing to pay its account, which is already five months overdue. Forest Limited has launched an investigation into the allegations, but as yet has not been able to substantiate them.

In January, Forest Limited upgraded its accounts payable system to a fully integrated package that automatically updates the general ledger when creditor entries are made. Some problems have been experienced with the creditors ledger, which is split into $US and $AUD amounts. In some cases, $US amounts have been recorded as $AUD, resulting in inaccurate creditor balances. Month-end rollovers have also proved problematic, with creditor balances being incorrectly re-set to zero at the first of every month. This has required each creditor’s history to be re-entered manually each month, a time-consuming process that is taking accounting staff away from their normal duties.

During the period, the Australian dollar has remained steady against the Yen, although it fell by about 3% against the US dollar. Debtors are invoiced in $US at the time of shipment, and paid in $US one month after the shipment is received. It takes around six weeks for the charter vessels to travel from Twofold Bay to Japan. All plantations from which Forest Limited sources timber are owned by US firms, which demand payment in $US prior to the timber being cut. A recent downturn in the Japanese economy is affecting forward orders, which have fallen by 15%.

Required:

Prepare a memorandum to the audit manager, outlining your risk assessment relating to Forest Limited. When making your risk assessment:

(a) Identify three (3) key accounts from the information provided that are subjected to an increase in audit risk. Briefly explain what factors increase the audit risk associated with the three (3) accounts identified. In your explanation, please mention the key assertion(s) at risk of material misstatement and the components of the audit risk model affected for each account identified.

(b) Identify how the audit plan will be affected and recommend specific audit procedures to address the risks associated with each account identified.

You are an Audit Senior currently planning the 30 June 20X8 audit of Forest Limited, an Australian-owned company that produces and exports woodchips to Japan. Forest’s operations are located in Eden, on the far south coast of NSW. Timber is purchased from forests nearby, processed into woodchips and immediately stockpiled for export at the company’s shipyards at Twofold Bay. Forest contracts timber cutters to deliver set tonnages of logs to its mill throughout the year. Woodchips are transported to Japan on charter vessels, which make an average of one trip a month.
At a recent planning meeting with Forest Limited’s senior staff, you obtained the following overview of this year’s operations:
A massive conveyor belt is used to transport the woodchips from the mill to the stockpile. The manufacturer of this belt was recently taken over by an overseas competitor of Forest Limited, Chipper Limited, which processes woodchips in several South-East Asian countries. Chipper Limited has indicated that it is willing to sell equipment to its competitors, but at double the price it will sell to its other customers. It is doubtful whether any other companies in the world manufacture such specialised conveyor belts.
Based on current usage figures, it is expected that the existing conveyor belt will last until December 20X9. Sufficient spare parts are on hand to carry out routine maintenance work. However, should a replacement belt be required, it would take at least six months to have a replacement made and shipped to Australia, and a further four weeks to install and test it. It is unlikely that the company could survive a six-month interruption to normal operations. Management are currently deciding whether they should order a replacement belt from Chipper Limited despite the excessive cost, or continue to search for an alternate supplier.
Timber is purchased in 50 hectare lots from plantations and state forests. In the past, 70% of timber was sourced from plantations, however this has fallen to 50% in the current year. The corresponding increase in timber sourced from state forests has angered environmental groups. Protests have been held in several forests, which has slowed production and frustrated the contractors, who are only paid once set tonnages of timber are delivered to the mill. In addition, several shipments of woodchips have been delayed, angering the Japanese customers who are threatening to deduct 20% from amounts owing as compensation for lost production time.
Last month, a protester suffered a broken leg, allegedly because he was hit by a timber truck. The protester was blocking the main access road to one of the state forests at the time of the accident. The protester is now suing Forest Limited for damages, claiming the contractor was in fact an employee of Forest Limited at the time of the accident, and was acting on Forest Limited’s instructions. Forest Limited is fighting the case and appears to have a reasonable chance of winning; however, the adverse publicity being
generated is making the state government nervous about selling Forest Limited any more of its timber resources.
One of Forest Limited’s customers, Wood Limited, is claiming that the latest batch of woodchips it received was contaminated with a microbe. This microbe affects the physical structure of the chips, reducing the pressure the chips can withstand when compressed. This has made the chips useless for heavy duty items such as desks and bookcases. Wood Limited is refusing to pay its account, which is already five months overdue. Forest Limited has launched an investigation into the allegations, but as yet has not been able to substantiate them.
In January, Forest Limited upgraded its accounts payable system to a fully integrated package that automatically updates the general ledger when creditor entries are made. Some problems have been experienced with the creditors ledger, which is split into $US and $AUD amounts. In some cases, $US amounts have been recorded as $AUD, resulting in inaccurate creditor balances. Month-end rollovers have also proved problematic, with creditor balances being incorrectly re-set to zero at the first of every month. This has required each creditor’s history to be re-entered manually each month, a time-consuming process that is taking accounting staff away from their normal duties.
During the period, the Australian dollar has remained steady against the Yen, although it fell by about 3% against the US dollar. Debtors are invoiced in $US at the time of shipment, and paid in $US one month after the shipment is received. It takes around six weeks for the charter vessels to travel from Twofold Bay to Japan. All plantations from which Forest Limited sources timber are owned by US firms, which demand payment in $US prior to the timber being cut. A recent downturn in the Japanese economy is affecting forward orders, which have fallen by 15%.
Required:
Prepare a memorandum to the audit manager, outlining your risk assessment relating to Forest Limited. When making your risk assessment:
(a) Identify three (3) key accounts from the information provided that are subjected to an increase in audit risk. Briefly explain what factors increase the audit risk associated with the three (3) accounts identified. In your explanation, please mention the key assertion(s) at risk of material misstatement and the components of the audit risk model affected for each account identified.
(b) Identify how the audit plan will be affected and recommend specific audit procedures to address the risks associated with each account identified.

You are an Audit Senior currently planning the 30 June 20X8 audit of Forest Limited, an Australian-owned company that produces and exports woodchips to Japan. Forest’s operations are located in Eden, on the far south coast of NSW. Timber is purchased from forests nearby, processed into woodchips and immediately stockpiled for export at the company’s shipyards at Twofold Bay. Forest contracts timber cutters to deliver set tonnages of logs to its mill throughout the year. Woodchips are transported to Japan on charter vessels, which make an average of one trip a month.

At a recent planning meeting with Forest Limited’s senior staff, you obtained the following overview of this year’s operations:

A massive conveyor belt is used to transport the woodchips from the mill to the stockpile. The manufacturer of this belt was recently taken over by an overseas competitor of Forest Limited, Chipper Limited, which processes woodchips in several South-East Asian countries. Chipper Limited has indicated that it is willing to sell equipment to its competitors, but at double the price it will sell to its other customers. It is doubtful whether any other companies in the world manufacture such specialised conveyor belts.

Based on current usage figures, it is expected that the existing conveyor belt will last until December 20X9. Sufficient spare parts are on hand to carry out routine maintenance work. However, should a replacement belt be required, it would take at least six months to have a replacement made and shipped to Australia, and a further four weeks to install and test it. It is unlikely that the company could survive a six-month interruption to normal operations. Management are currently deciding whether they should order a replacement belt from Chipper Limited despite the excessive cost, or continue to search for an alternate supplier.

Timber is purchased in 50 hectare lots from plantations and state forests. In the past, 70% of timber was sourced from plantations, however this has fallen to 50% in the current year. The corresponding increase in timber sourced from state forests has angered environmental groups. Protests have been held in several forests, which has slowed production and frustrated the contractors, who are only paid once set tonnages of timber are delivered to the mill. In addition, several shipments of woodchips have been delayed, angering the Japanese customers who are threatening to deduct 20% from amounts owing as compensation for lost production time.

Last month, a protester suffered a broken leg, allegedly because he was hit by a timber truck. The protester was blocking the main access road to one of the state forests at the time of the accident. The protester is now suing Forest Limited for damages, claiming the contractor was in fact an employee of Forest Limited at the time of the accident, and was acting on Forest Limited’s instructions. Forest Limited is fighting the case and appears to have a reasonable chance of winning; however, the adverse publicity being generated is making the state government nervous about selling Forest Limited any more of its timber resources.

One of Forest Limited’s customers, Wood Limited, is claiming that the latest batch of woodchips it received was contaminated with a microbe. This microbe affects the physical structure of the chips, reducing the pressure the chips can withstand when compressed. This has made the chips useless for heavy duty items such as desks and bookcases. Wood Limited is refusing to pay its account, which is already five months overdue. Forest Limited has launched an investigation into the allegations, but as yet has not been able to substantiate them.

In January, Forest Limited upgraded its accounts payable system to a fully integrated package that automatically updates the general ledger when creditor entries are made. Some problems have been experienced with the creditors ledger, which is split into $US and $AUD amounts. In some cases, $US amounts have been recorded as $AUD, resulting in inaccurate creditor balances. Month-end rollovers have also proved problematic, with creditor balances being incorrectly re-set to zero at the first of every month. This has required each creditor’s history to be re-entered manually each month, a time-consuming process that is taking accounting staff away from their normal duties.

During the period, the Australian dollar has remained steady against the Yen, although it fell by about 3% against the US dollar. Debtors are invoiced in $US at the time of shipment, and paid in $US one month after the shipment is received. It takes around six weeks for the charter vessels to travel from Twofold Bay to Japan. All plantations from which Forest Limited sources timber are owned by US firms, which demand payment in $US prior to the timber being cut. A recent downturn in the Japanese economy is affecting forward orders, which have fallen by 15%.

Required: Prepare a memorandum to the audit manager, outlining your risk assessment relating to Forest Limited. When making your risk assessment:

(a) Identify three (3) key accounts from the information provided that are subjected to an increase in audit risk. Briefly explain what factors increase the audit risk associated with the three (3) accounts identified. In your explanation, please mention the key assertion(s) at risk of material misstatement and the components of the audit risk model affected for each account identified.

(b) Identify how the audit plan will be affected and recommend specific audit procedures to address the risks associated with each account identified.

Who benefits from a tariff or quota? Who loses? What are the positives and negatives of protectionist trade policies? Which policy is best right now?

Who was the best President and who was the worst President from Andrew Johnson to Donald Trump? State your criterion for the best and worst and back up your arguments with a few examples

Blue Creek Industrial of Atlanta purchased automated machinery from Sydney Manufacturing of Australia for : A$5,000,000 with payment due in 6 months. The forecasting department of the firm expects the spot rate in 6 months to be $0.7015/A$ The following quotes are available:

Six month investment rate on US$ - 1.20% per annum

Loan Rate on US$ - 4.10% per annum

Six month investment rate on A$2.25% per annum

Loan Rate on A$ - 5.00% per annum

Spot exchange rate :       Bid- $0.7050/A$                Ask- $0.7058/A$

Six month forward rate: Bid- $0.7004/A$                Ask- $0.7018/A$

Six month call option at A$5,000,000 at an exercise price of $0.7100/A$ and a 1.80% of spot ask premium.

Blue Creek’s cost of capital is 10% and it wishes to minimize the dollar cost of this PAYABLE. The CFO has informed your department that the company is currently in a low cash position and if a money market hedge is used, a US dollar loan would be necessary. However, the option premium should be carried forward at the cost of capital.

1. What are the costs from the money market hedge? Please show all work
2. What are the costs from the forward market hedge? Please show all work

During the Global financial crisis of 2008, AIG, an insurance company, had to be bailed out by the US government to prevent it’s collapse into bankruptcy.  Why did AIG have to be bailed out by the US government?  In retrospect, should the government have bailed AIG out?

On 1 July 2019 Kanga Consultants Ltd completes a contract to provide advice on the installation of a networked computer system to a company in the US. The client pays the fee of US$500 000 into Kanga Consultants' US bank account on that date. The bank pays interest of 8 per cent annually on 30 June. The exchange rate information is:

Prepare the relevant journal entries are required in Kanga Consultants Ltd's books for 1 July 2019 and 30 June 2020 in accordance with AASB 121 (rounded to the nearest whole AU$)?