A chain of motels had adopted a policy of giving a 3% discount to customers who pay in cash rather than by credit cards. Its experience is that 30% of all customers take the discount. Let Y = the number of discount takers among the next 20 customers.

7) What kind of probability distribution is appropriate in this case?
a) Normal Distribution b) Binomial Distribution c) Poisson Distribution d) Unknown Discrete Probability Distribution

8) Find the probability that exactly 5 of the next 20 customers will take the discount.

a) 0.17 b) 0.20 c) 0.30 d) 0.41

9) Find the probability that 5 or more customers will take the discount.

a) 0.17 b) 0.58 c) 0.76 d) 0.50

10) Find the expected value of Y.

a) 0.6 b) 5 c) 4 d) 6

11) Find the standard deviation of Y.

a) 4.2 b) 6 c) 3 d) 2.04

The mean time between arrivals of customers in a bank is 3 minutes. Write the expression for the exponential distribution for average time between arrivals for any time t (t>=0). If a customer has already arrived in the bank, what is the probability that the next customer will come after 10 minutes? What is the probability that 5 customers will arrive in the one hour interval?

Answer with full steps. Thank you!,

Any half answer or incomplete answer would be send back for refund and reported to Chegg. No direct answers. Well handwritten answers only accepted. I repeat only well hand written answers.

Question 3:

Suppose that 1000 customers are surveyed and 850 are satisfied or very satisfied with a corporation’s products and services.

1. Test the hypothesis H₀: p = 0.9 against H₁: p ≠ 0.9 at α = 0.05. Find the p-value.
2. Explain how the question in part (a) could be answered by constructing a 95% two-sided confidence interval for p.

Question One ZAMPORK LTD Zampork Ltd is one of the fastest growing companies in Zambia, and its stock price is increasing at a rate of 100 percent a year, to the delight of its shareholders. Achieving this high return has been a constant challenge for the company. The company was founded by David Changata in 2001 after he retired from the Bank of Zambia. Changata used the generous retirement package to start a pork meat business at his small holding in Lusaka West. He soon realized that there was a high demand for pork and pork products in Lusaka and the rest of Zambia. He teamed up with some investors and, with the new capital infusion, turned his family business into a public company. Initially and before going public, Changata personally undertook most of the functions with the help of a nephew who had failed to proceed to Grade 8. While his nephew was charged with the cleaning of the pig sty and feeding of the animals, Changata superintended the slaughter of the animals, the cutting and packing of the meat, the keeping of the books, and the sales and marketing. Increasing demand for his pork products meant that within a few weeks he needed to hire people to help him, and soon he found himself supervising three additional employees who worked together with his nephew in the pig sty and took orders over the phone. By 2005, Zampork Ltd. employed 500 workers and was hiring over 10 new workers each week just to keep pace with the demand for pork. When he found himself working eighteen-hour days managing the company, he realized he could not lead the company single-handedly. The company’s growth had to be managed, and he knew that he had to recruit and hire strategic managers who had experience in managing different functional areas, such as marketing, finance, and production. He recruited executives from Zambeef and with their help created a functional structure, one in which employees are grouped by the common skills they have or tasks they perform, to organize the value-chain activities necessary to deliver pork products to customers. As a part of this organizing process, Zampork’s structure also became taller, with more levels in the management hierarchy, to ensure that he and his managers had sufficient control over the different activities of his growing business. Changata delegated authority to control the company’s functional value-chain activities to his managers, which gave him the time he needed to perform his managerial task of finding new opportunities for the company. The company’s functional structure worked well, and under its new management team, the company’s growth continued to soar. By 2009, the company had sales of over K2 million, twice as much as in 2002. Moreover, Zampork’s new structure had given functional managers the control they needed to squeeze out costs, 3 and Zampork had become the lowest-cost pork producer. Analysts also reported that Zampork had developed a lean organizational culture, meaning that employees had developed norms and values that emphasized the importance of working hard to help each other find innovative new ways of making products to keep costs low and increase their reliability. Indeed, with the fewest customer complaints, Zampork rose to the top of the customer satisfaction rankings for meat producers; its employees became known for the excellent customer service they gave to pork buyers. However, Changata realized that new and different kinds of problems were arising. Zampork was now selling huge quantities of pork to different kinds of customers, for example, households, organizations, and different kinds of businesses. Because customers now demanded pork with very different features, the company’s product line broadened rapidly. It started to become more difficult for employees to meet the needs of these different kinds of customers efficiently because each employee needed information about all product features. In 2008, Zampork changed its market structure and created separate divisions, each geared to the needs of a different group of customers; a consumer division, a business division, and so on. In each division, teams of employees specialized in servicing the needs of one of these customer groups. This move to a more complex structure also allowed each division to develop a unique subculture that suited its tasks, and employees were able to obtain in-depth knowledge about the needs of their market that helped them to respond better to their customers’ needs. So successful was this change in structure and culture that by 2009 Zampork’s revenues were over K30 million and its profits were in excess of K2.5 million, a staggering increase from 2001. Changata has continued to alter his company’s structure to respond to changing customer needs and to the company’s increase in distinctive competencies. For example, Changata realized he could leverage his company’s strengths in materials management, production, and credit sales over a wider range of pork products. So he decided to begin producing and packaging pork of different types and to compete with other pork producers and Zambeef. The increasing importance of the credit led him to split the market divisions into thirty-five smaller subunits that focused on more specialized groups of customers, and they all now conduct the majority of their business by credit. Today, for example, Zampork can offer its customers a complete range of pork products, and storage devices that can be customized to their needs. Source: Charles W.L. Hill and Gareth R. Jones (2007), Strategic Management, New York: Houghton Mifflin Company REQUIRED: (a) Identify and describe the strategies that have characterized the company’s progress 4 (b) Analyse how the company implemented its strategies.

Revenue 80,000

Variable Costs 45,000

Contribution Margin 35,000

Fixed Cost 15,000

Pre-tax Income 20,000

Income Taxes (25%) 5,000

After-Tax Income 15,000

1. What is the Breakeven level of revenue?

2. What is the Margin of Safety of revenues?

3. If Fixed Cost were reduced by 10%, what would be the new breakeven revenue?

4. Given the current cost structure (ie. unchanged Fixed and Variable costs), how much revenue would be required to generate 50% more after-tax income?

5. Provide a revised Contribution Income Statement assuming this company achieves the higher level of after-tax revenue described in question 4.

Please show formulas. Thank you!

A company operates a solar installation in the desert in Western Australia. It is reviewing its operating practices with a view to making them more efficient

. a) The solar installation generates electric power from sunlight and incurs operating costs for cleaning the solar modules (sometimes called solar panels) and replacing solar modules that have failed. The annual revenue from the electric power is variable due to variable cloudiness and solar module failure and has a mean of $2.78m and a standard deviation of $0.32m. The annual operating costs have a mean of $0.51m and a standard deviation of $0.12m. Calculate the mean and standard deviation of the annual profit = annual revenue – annual operating costs.

b) Expected revenue varies systematically from one month to another, being higher in the summer when there is more sunshine. Monthly operating costs follow the same probability model regardless of the month (same mean and standard deviation apply to all months). Calculate, if possible, the mean and standard deviation of (i) monthly operating costs (ii) monthly profits. If a calculation is not possible, give the reason.

c) The solar installation is located in the desert 100 km from the nearest office of the company that operates it and the company sends a maintenance crew out quarterly (once every 3 months) to clean dust and sand off the solar modules and check for mechanical or electrical problems. Each solar module is also monitored electronically over the Internet so that the operating company is alerted immediately when a solar module fails. On average 1.3 modules fail per month and the maintenance crew replaces any failed modules on their quarterly visits. Module failures are independent of each other and occur at random. The loss of a few solar modules does not impact revenue enough to justify the cost of sending the maintenance crew before the next quarterly visit. However the operating company decides that if more than 7 modules have failed they should send the maintenance crew out immediately to replace the failed modules. What is the probability of the maintenance crew having to go to the solar installation before the end of the regular 3-month period?

d) If 8 modules fail, the maintenance crew loads 9 replacement modules into their truck in case one is smashed during the 100 km drive, much of which is over uneven dirt tracks through the desert. Past experience shows that the probability of any individual module being smashed on this journey is 0.043. The operations manager wants the probability that the crew arrives with less than 8 working modules to be < 0.05. How many replacement modules should the maintenance crew load into their truck so as to achieve this objective? Answer this question, stating your assumptions clearly, and comment on whether the assumptions are likely to be true.

e) The solar modules are covered by a 25-year warranty which covers the cost of the replacement module itself but not the cost of driving 100 km and installing it. The operating company plans on visiting the site only once every 3 months and is therefore considering purchasing “business continuity insurance” which would cover the loss of revenue from failed solar modules for an annual premium of $5000. In order to decide whether it is worth paying this premium the company needs to calculate its expected revenue loss from failed modules. The average loss of revenue from one failed module is $200 per month. If one module fails during a 3-month period, we assume it fails in the middle of that period so that it has failed for a total of 1.5 months and the loss of revenue is 1.5*200 = $300. We make similar assumptions if 2,3,4, … modules fail during the 3 month period. Considering the probabilities of 0,1,2, …,10 modules failing during a 3-month period, what is the expected revenue loss during a 3-month period? Based on this expected loss, should the company purchase business continuity insurance?

Required information

[The following information applies to the questions displayed below.]

Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts.

In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10, n/30, FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119, 413, 414, 415, and 502) are added to its general ledger to accommodate the company’s new merchandising activities. Its transactions for January through March follow:

The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation:

1. The March 31 amount of computer supplies still available totals $2,165.
2. Prepaid Insurance coverage of $690 expired during this 3-month period.
3. Lyn Addie has not been paid for seven days of work at the rate of $155 per day.
4. Prepaid rent of $2,685 expired during this 3-month period.
5. Depreciation on the computer equipment for January 1 through March 31 is $1,190.
6. Depreciation on the office equipment for January 1 through March 31 is $210.
7. The March 31 amount of merchandise inventory still available totals $644.

5. Prepare a statement of retained earnings (from the adjusted trial balance in part 3) for the three months ended March 31, 2020.

Journal Entries During July 2017, Krogue, Inc., completed the following transactions. Prepare journal entry for each transaction. Received $320,000 for 80,000 shares of capital stock. 4 Purchased $100,000 of equipment, with 75% down and 25% on a note payable. Paid utilities of $2,300 in cash. 9 Sold equipment for $15,000 cash (no gain or loss). 13 Purchased $250,000 of supplies, paying 30% down and 70% on credit. Paid $6,000 cash insurance premium for July. 18 Provided services for $81,000 to customers on account to be paid at a later date. /20 Collected $8,500 from accounts receivable. /24 Provided services for $43,000 to customers for cash. /27 Paid property taxes of $1,200. (30 Paid $175,000 of accounts payable for supplies purchased on July 13. July 14

[The following information applies to the questions displayed below.]

On January 1, 2018, the general ledger of 3D Family Fireworks includes the following account balances:

During January 2018, the following transactions occur:
  

January 2 Provide services to customers for cash, $49,100.
January 6 Provide services to customers on account, $86,400.
January 15 Write off accounts receivable as uncollectible, $3,300.
January 20 Pay cash for salaries, $32,800.
January 22 Receive cash on accounts receivable, $84,000.
January 25 Pay cash on accounts payable, $6,900.
January 30 Pay cash for utilities during January, $15,100.

Record each of the transactions listed above.

a. The company estimates future uncollectible accounts. The company determines $4,300 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible.
b. Supplies at the end of January total $950.
c. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.
d. Unpaid salaries at the end of January are $34,900.

2. Record adjusting entries on January 31 for the above transactions.

3. Prepare an adjusted trial balance as of January 31, 2018.

For each of the following two-samples t-tests (problems 1-6): (a) Determine if a F test for the ratio of two variances is appropriate to calculate for the context. If it is appropriate, conduct the analysis and report the result. Include what statistical conclusion you should draw from the analysis (i.e., whether you should conduct a pooled-variance t-test or an unequal-variances t-test). (b) Identify the most appropriate t-test to conduct for the situation/data given. Don’t forget to consider if the context requires one/two-tail tests. (c) Provide a statistical and practical interpretation of your findings.

3. How does cellphone service compare between different cities? The data stored in CellService represents the rating of Verizon and AT&T in 22 different cities (Data extracted from “Best Phones and Services,” Consumer Reports, January 2012, p. 28, 37). Is there evidence of a difference in the mean cellphone service rating between Verizon and AT&T? (Use a 0.05 level of significance)