Listed below are amounts of court income and salaries paid to the town justices. All amounts are in thousands of dollars. Construct a scatterplot, find the value of the linear correlation coefficient r, and find the P-value using
alphaαequals=0.05.
Is there sufficient evidence to conclude that there is a linear correlation between court incomes and justice salaries? Based on the results, does it appear that justices might profit by levying larger fines?
Court_Income Justice_Salary
64.0 31
404.0 45
1566.0 93
1131.0 55
270.0 46
253.0 60
112.0 26
150.0 27
30.0 19
What are the null and alternative hypotheses?
A.
Upper H 0H0:
rhoρnot equals≠0
Upper H 1H1:
rhoρequals=0
B.
Upper H 0H0:
rhoρequals=0
Upper H 1H1:
rhoρgreater than>0
C.
Upper H 0H0:
rhoρequals=0
Upper H 1H1:
rhoρnot equals≠0
D.
Upper H 0H0:
rhoρequals=0
Upper H 1H1:
rhoρless than<0
Construct a scatterplot. Choose the correct graph below.
A.
08001600050100Court IncomeJustice Salary
A scatterplot has a horizontal scale labeled “Court Income” from 0 to 1600 in intervals of 200 and a vertical scale labeled “Justice Salary” from 0 to 100 in intervals of 10. Nine points are plotted with approximate coordinates as follows: (260, 84); (420, 24); (640, 56); (760, 86); (880, 48); (900, 34); (1040, 86); (1260, 46); (1480, 18).
B.
08001600050100Court IncomeJustice Salary
A scatterplot has a horizontal scale labeled “Court Income” from 0 to 1600 in intervals of 200 and a vertical scale labeled “Justice Salary” from 0 to 100 in intervals of 10. Nine points are plotted with approximate coordinates as follows: (40, 20); (60, 32); (120, 26); (160, 28); (260, 60); (280, 46); (400, 46); (1140, 56); (1560, 94).
C.
08001600050100Court IncomeJustice Salary
A scatterplot has a horizontal scale labeled “Court Income” from 0 to 1600 in intervals of 200 and a vertical scale labeled “Justice Salary” from 0 to 100 in intervals of 10. Nine points are plotted with approximate coordinates as follows: (140, 14); (140, 36); (340, 42); (660, 54); (740, 66); (900, 74); (1280, 90); (1320, 14); (1420, 74).
D.
08001600050100Court IncomeJustice Salary
A scatterplot has a horizontal scale labeled “Court Income” from 0 to 1600 in intervals of 200 and a vertical scale labeled “Justice Salary” from 0 to 100 in intervals of 10. Nine points are plotted with approximate coordinates as follows: (220, 84); (220, 80); (360, 80); (400, 70); (580, 84); (740, 58); (1080, 62); (1120, 30); (1420, 44).
The linear correlation coefficient r is
nothing.
(Round to three decimal places as needed.)
The test statistic t is
nothing.
(Round to three decimal places as needed.)
The P-value is
nothing.
(Round to three decimal places as needed.)
Because the P-value is
▼
less
greater
than the significance level
0.050.05,
there
▼
is not
is
sufficient evidence to support the claim that there is a linear correlation between court incomes and justice salaries for a significance level of
alphaαequals=0.050.05.
Based on the results, does it appear that justices might profit by levying larger fines?
A.
It does not appear that justices might profit by levying larger fines.
B.
It does appear that justices might profit by levying larger fines.
C.
It appears that justices profit the same despite the amount of the fines.
D.
It does appear that justices might profit by issuing smaller fines.
In: Statistics and Probability
In: Statistics and Probability
In: Physics
*all info is provided
Consider a small town that has a population of dedicated pizza eaters but is able to accommodate only two pizza shops, Donna’s Deep Dish and Pierce’s Pizza Pies. Each seller has to choose a price for its pizza, but for simplicity, assume that only two prices are available: high and low. If a high price is set, the sellers can achieve a profit margin of $12 per pie; the low price yields a profit margin of $10 per pie. Donna’s has a loyal captive customer base that will buy 11,000 pies per week and Pierce’s has a loyal captive customer base that will buy 3,000 pies per week, no matter what price is charged by either store. There is also a floating demand of 4,000 pies per week. The people who buy these pies are price conscious and will go to the store with the lower price; if both stores charge the same price, this demand will be split equally between them.
a) In equilibrium, Pierce’s earns $_______ in profit.
b) Donna’s loyal captive customer base has to be larger than ________ so that it sets its price at $12/pie if Pierce’s sets its price at $10/pie.
In: Economics
On January 1, 2019, the Town of Floyd issued $ 8,000,000 of 4% tax supported bonds. The bonds are dated January 1, 2019 with interest payment dates of June December 31, 2019. The bonds were sold at a $78,000 premium that was transferred to the Debt Service Fund from the capital projects fund to be used to fund the first payment. Cash sufficient to cover interest and principal payments for the year less the premium is transferred from the General Fund on June 1st.
Required: Record any and all entries to be made by the Debt Service Fund for the bond issued for the year 2019 (including closing entries)
Note - This is the question exactly as asked, if there is a portion of it that cannot be answered due to lack of information I would appreciate the question being answered as thoroughly as possible, with an "X" or something in place of omitted information
In: Accounting
Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 70% of the business days it is open. Estimate the probability that the store will gross over $850 for the following. (Round your answers to three decimal places.)
(a) at least 3 out of 5 business days
(b) at least 6 out of 10 business days
(c) fewer than 5 out of 10 business days
(d) fewer than 6 out of the next 20 business days
If the outcome described in part (d) actually occurred, might it shake your confidence in the statement p = 0.70? Might it make you suspect that p is less than 0.70? Explain.
Yes. This is unlikely to happen if the true value of p is 0.70.
Yes. This is likely to happen if the true value of p is 0.70.
No. This is unlikely to happen if the true value of p is 0.70.
No. This is likely to happen if the true value of p is 0.70.
(e) more than 17 out of the next 20 business days If the outcome described in part (e) actually occurred, might you suspect that p is greater than 0.70? Explain.
Yes. This is unlikely to happen if the true value of p is 0.70.
Yes. This is likely to happen if the true value of p is 0.70.
No. This is unlikely to happen if the true value of p is 0.70.
No. This is likely to happen if the true value of p is 0.70.
In: Statistics and Probability
PLEASE DO NOT HANDWRITE ANSWER!!!]
George has a monopoly on burrito sales in a small town in Kansas. The burritos cost him a constant $5 each to produce. He faces following demand schedule for his product: Price Quantity Demanded $30 0 $25 1 $20 2 $15 3 $10 4 $5 5 $0 6 Under normal monopoly conditions, how many burritos should he produce, what price should he charge, and how much profit can he expect to make? Draw a graph under these assumptions showing (and calculating) producer surplus, consumer surplus, economic surplus and deadweight loss. If George was able to engage in perfect price discrimination, how many burritos would he produce, what would his total revenue be, and how much profit would he earn? Draw a graph under these assumptions showing (and calculating) producer surplus, consumer surplus, economic surplus and deadweight loss. Is society better off by allowing George to perfectly price discriminate? Defend your answer.
In: Economics
2. Tiare’s city tour company is situated in the highly seasonal town of Moorea where the number of visitors fluctuates greatly from month to month. City tours are very competitive in this
town and Tiare is a price-taker. Her monthly fixed cost is $2,000. Her variable costs are:
Quantity of tours per month Variable cost
100 $700
200 $1500
300 $2400
400 $4000
500 $5800
600 $7800
Since Tiare is a price-taker, she must charge what everybody else in Moorea’s market charges. The market price varies from month to month as shown below.
Month Market Price
January $5
March $5
May $15
July $19
September $19
a. Give the profit-maximizing output of this firm and calculate its profits in each of these
months. Hints: MC = dVC/dq = dTC/dq. You need to find an output decision and profit for each month since market price changes depending on what month it is.
Please make a table with the following columns: Output (quantity), VC, MC, AVC. Once you have that information make another table showing the output decision for each month (i.e., one column for month, one column for price, one column for output). Next calculate the firm’s profit. Make another table with the following columns to facilitate your profit calculation: Month, price, output, revenue, cost, profit.
b. Will firms enter or exit this market in the long run?
c. How will the firm’s output decisions differ if fixed cost were $1000 per month?
In: Economics
Luke tells Laura that his favorite baseball team, the Washington Nationals, is coming to town to play the Chicago Cubs, and he will spend $75 a ticket if Laura will go to the game with him. Laura is excited, and she tells Luke that she will attend the game with him and that he can pick her up at her place around five o’clock the evening of the game. Luke also informs Laura that he will take her to dinner before the 7:30 p.m. game.
Luke goes to pick Laura around 4:48 p.m. up on game day and finds no one at home. Too embarrassed to attend the restaurant and game by himself, he goes home. Worried that something may have happened to Laura, he tries to reach her by telephone. The following day, he contacts her and she informs him that she changed her mind; she did not want to go to the game with him because it looked like it was going to rain and she had made plans with another "friend." Also, she did not feel it was necessary to call. Luke becomes very emotionally upset over the rejection. Two days later, he files a lawsuit against Laura for $225 in damages for the two unused tickets to the game and the cost of a reasonable dinner for two and $500 in damages for his emotional trauma.
How would the case be decided? Were there any ethical violations?
Business law
In: Accounting
|
Temperature (in Celsius degrees )... x |
32 |
13 |
24 |
20 |
10 |
4 |
36 |
|
# of traffic accidents ...y |
7 |
4 |
9 |
11 |
3 |
5 |
8 |
In: Statistics and Probability