PRACTICAL QUESTION
Tiger Construction Ltd signs a contract on 1 May 2018 to build a theme park. The construction is scheduled to commence on 1 July 2018 and the estimated date of completion is 30 June 2021. The total contract price is $5m and the cost of the park is initially estimated at $4.5m. The following data relates to the construction period:
|
For the year ended 30 June |
|||
|
2019 |
2020 |
2021 |
|
|
$ |
$ |
$ |
|
|
Costs to date |
1,700,000 |
3,000,000 |
4,800,000 |
|
Estimated costs to complete |
2,800,000 |
1,700,000 |
- |
|
Progress billings to date |
1,400,000 |
2,600,000 |
5,000,000 |
|
Cash received to date |
1,200,000 |
2,200,000 |
5,000,000 |
Assume that cost (an input measure) is used as the basis for assessing progress on the construction contract.
Required
Determine the percentage of completion for 2019, 2020 and 2021.
|
2019 |
2020 |
2021 |
|
|
$ |
$ |
$ |
|
|
Costs to date (A) |
|||
|
Estimated costs to complete (B) |
|||
|
Estimated total cost (A+B=C) |
|||
|
Percent of completion (POC=A/C) |
Calculate revenue and gross profit for 2019, 2020 and 2021.
|
2019 |
2020 |
2021 |
|||||
|
$ |
$ |
$ |
|||||
|
Contract Price |
|||||||
|
Contact Price x POC |
|||||||
|
LessRevenue recognised in previous years |
|||||||
|
= Revenue recognised for the year |
|||||||
|
Less Costs for the year |
|||||||
|
= Gross profit for the year |
|||||||
Using the percentage of completion method, provide the journal entries for 2019, 2020 and 2021.
|
2019 $m |
2020 $m |
2021 $m |
|||
|
(i) |
To record costs incurred: |
||||
|
(ii) |
To record billings to customers: |
||||
|
(iii) |
To record cash collections: |
||||
|
(iv) |
To record periodic income recognised: |
||||
In: Accounting
Write a program in Java Using object Orientation Design to determine the status of Mini Van Sliding Doors. A logical circuit receives a different binary code to allow opening different doors. The doors can be opened by a dashboard switch, inside or outside handle. The inside handle will not open the door if the child safety lock is on or the master lock is on. The gear shift must be in the park to open the door.
** MUST USE constructors and methods. The methods should be instantiated by an object. Use simple main. The first bit Stream must be entered by users. The program needs to be interactive
Hints & Suggestions
park
door1
door2
dashboardSwitch
inHandle
outHandle
safteyLock
| p | d1 | d2 | dw | inh | outh | sLock | desc |
|---|---|---|---|---|---|---|---|
| 1 | 1 | 1 | 1 | 1 | 1 | 0 | Saftey Lock Off, door 1 & 2 open |
| 1 | 1 | 0 | 1 | 1 | 1 | 0 | |
| 1 | 0 | 1 | 1 | 1 | 1 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | Car not parked, no door works |
| 1 | 0 | 0 | 0 | 0 | 1 | 1 | Saftey lock on, door only opens from outside |
In: Computer Science
I drive to school and am currently looking for a parking spot so I can walk to Jacob's. If I turn into a parking lot to look for a spot to park in that specific lot, the process of looking for a spot takes 1 minute of time whether I find a spot or not.
Parking lot A is closest to Jacobs. If I get a spot here, it takes me 1 minute to walk into my class at the business school, however there is only a 10% chance I'll find a spot if I look.
Parking lot B is a 4-minute walk; if I pull in to look for a spot, there is a 30% chance I'll find a spot.
Parking lot C is an 8-minute walk; if I pull in to look for a spot, there is a 100% chance I will find a spot.
Which strategy to find a parking spot is best for me (ie. which order should I check the parking lots for spots to park), assuming we are risk-neutral, and simply want to have the earliest expected arrival time to Jacob’s as possible? (Another way to say this is we want the smallest expected value of time spent getting to Hall).
Now, assume I am risk averse (let’s say that in this second case, my class starts in 10 minutes, and there is a large decrease in my utility if I am late for class). Is the best strategy the same as when I am risk-neutral, or has it changed?
In: Statistics and Probability
The Business School at State University currently has three parking lots, each containing 155 spaces. Two hundred faculty members have been assigned to each lot. On a peak day, an average of 70% of all lot 1 parking sticker holders show up, an average of 72% of all lot 2 parking sticker holders show up, and an average of 74% of all lot 3 parking sticker holders show up.
a. Given the current situation, estimate the probability that on a peak day, at least one faculty member with a sticker will be unable to find a spot. Assume that the number who show up at each lot is independent of the number who show up at the other two lots. Compare two situations: (1) each person can park only in the lot assigned to him or her, and (2) each person can park in any of the lots (pooling). (Hint: Use the RISKBINOMIAL function.) If needed, round your answer to a whole percentage and if your answer is zero, enter "0".
| No pooling: | % |
| Pooling: | % |
b. Now suppose the numbers of people who show up at the three lots are highly correlated (correlation 0.9). How are the results different from those in part a? If needed, round your answer to a whole percentage.
| No pooling: | % |
| Pooling: |
% |
| NEED HELP WITH PART B |
In: Math
Write a program in Java Using object Orientation Design to determine the status of Mini Van Sliding Doors. A logical circuit receives a different binary code to allow opening different doors. The doors can be opened by a dashboard switch, inside or outside handle. The inside handle will not open the door if the child safety lock is on or the master lock is on. The gear shift must be in the park to open the door.
** MUST USE constructors and methods. The methods should be instantiated by an object. Use simple main. The first bit Stream must be entered by users. The program needs to be interactive
Hints & Suggestions
park
door1
door2
dashboardSwitch
inHandle
outHandle
safteyLock
| p | d1 | d2 | dw | inh | outh | sLock | desc |
|---|---|---|---|---|---|---|---|
| 1 | 1 | 1 | 1 | 1 | 1 | 0 | Saftey Lock Off, door 1 & 2 open |
| 1 | 1 | 0 | 1 | 1 | 1 | 0 | |
| 1 | 0 | 1 | 1 | 1 | 1 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | Car not parked, no door works |
| 1 | 0 | 0 | 0 | 0 | 1 | 1 | Saftey lock on, door only opens from outside |
In: Computer Science
Java
Part 2 of 4 - Amusement Park Programming Project
MUST BE COMPATIBLE WITH PART 1
https://www.chegg.com/homework-help/questions-and-answers/java-part-1-4-amusement-park-programming-project-requirements-use-java-selection-construct-q40170145?trackid=ERIFssNL
Requirements:
Class:
Merchandise – models merchandise available in the gift shop such as t-shirts, sweatshirts, and stuffed animals.
Instance Fields:
Constructors and Methods:
In: Computer Science
CREATE TABLE IF NOT EXISTS students (
student_id INT NOT NULL AUTO_INCREMENT,
first_name VARCHAR(16),
last_name VARCHAR(24),
birthday DATE,
street_address VARCHAR(128),
city VARCHAR(32),
PRIMARY KEY (student_id));
INSERT INTO students
(first_name, last_name, birthday, street_address, city) VALUES
('John','Jones','2000-12-17','250 Pines Blvd.','Pembroke Pines'),
('Mark','Bacon','2000-04-12','1270 Walnut St.','Prarie Bluff'),
('Bill','Carlson','1999-07-06','250 Pines Blvd.','Pembroke Pines'),
('Jean','Carlson','1999-07-06','250 Pines Blvd.','Pembroke Pines'),
('Leonard','Cook','2000-09-14','8046 Maple St.','Highland Park'),
('William','Markham','1999-07-06','1600 Sylvan Ln.','Lake Forest'),
('Sam','Cook','1998-10-13','8046 Maple St.','Highland Park'),
('Fred','Williams','1999-07-08','722 Oack Knoll','Arlington'),
('Sally','Fillmore','2000-03-25','1215 Carrington St.','Decatur'),
('Mary','Jones','1999-11-13','1940 Grant St.','Denver'),
('Phyllis','Jones','1999-11-13','1940 Grant St.','Denver');
In: Computer Science
The following data includes the year, make, model, mileage (in
thousands of miles) and asking price (in US dollars) for each of 13
used Honda Odyssey minivans. The data was collected from the Web
site of the Seattle P-I on April 25, 2005.
| year | make | model | mileage | price |
| 2004 | Honda | Odyssey EXL | 20 | 26900 |
| 2004 | Honda | Odyssey EX | 21 | 23000 |
| 2002 | Honda | Odyssey | 33 | 17500 |
| 2002 | Honda | Odyssey | 41 | 18999 |
| 2001 | Honda | Odyssey EX | 43 | 17200 |
| 2001 | Honda | Odyssey EX | 67 | 18995 |
| 2000 | Honda | Odyssey LX | 46 | 13900 |
| 2000 | Honda | Odyssey EX | 72 | 15250 |
| 2000 | Honda | Odyssey EX | 82 | 13200 |
| 2000 | Honda | Odyssey | 99 | 11000 |
| 1999 | Honda | Odyssey | 71 | 13900 |
| 1998 | Honda | Odyssey | 85 | 8350 |
| 1995 | Honda | Odyssey EX | 100 | 5800 |
Compute the correlation between age (in years) and mileage for
these minivans. (Assume the correlation conditions have been
satisfied and round your answer to the nearest 0.001.)
In: Statistics and Probability
1-The mean speed of vehicles along a stretch of highway is 75 miles per hour with a standard deviation of 3.8 miles per hour. Your current speed along this stretch of highway is 62 miles per hour. What is the z-score for your speed?
z- score =_______ (Round to two decimal places)
2- For a statistics test the mean is 63 and the standard deviation is 7.0, and for a biology test the mean is 23 and the standard deviation is 3.9. A student gets a 60 on the statistics test and a 22 on the biology test, on which of the two tests the student perform better?
Group of answer choices
Biology
Statistics
Both are equal
3- A member is selected at random from the population represented by the graph. Study the picture and use the information gathered to find the probability that the member selected at random is from the shaded region of the graph.
The area of the shaded region is__________ (Round answers to 4 decimal places)
4- A random sample of 50 cars in the drive-thru of a popular fast food restaurant revealed an average bill of $18.21 per car. The population standard deviation is $5.92.
Round your answers to two decimal places.
(a) State the point estimate for the population mean cost of fast food bills at this restaurant $
(b) Calculate the 95% margin of error. $
(c) State the 95% confidence interval for the population mean cost of fast food bills at this restaurant.
$ ≤ µ ≤ $
(d) What sample size is needed if the error must not exceed $1.00?
n =
5- Assume that females have pulse rates that are normally distributed with a mean of 74.0 beats per minute and a standard deviation of 12.5 beats per minute.
(a) If 1 adult female is randomly selected, find the probability
that her pulse rate is less than 80 beats per minute. (Round your
answer to 4 decimal places)
(b) If 16 adult females are randomly selected, find the probability that they have pulse rates with a mean less than 80 beats per minute. (Round your answer to 4 decimal places)
In: Statistics and Probability
The fuel efficiency, measured in miles per gallon, was measured for each of 12 cars when the cars where brand new. After exactly 5 years of use, the fuel efficiency of the same 12 cars was measured again. The data is in the following table. Mileage when New Mileage after 5 years Difference 16 15 1 27 24 3 17 17 0 33 29 4 28 25 3 24 22 2 18 16 2 22 20 2 20 21 -1 22 20 2 29 22 7 21 22 -1 a). Construct a 99% CI for the mean difference between initial fuel efficiency and the fuel efficiency after 5 years. b). Do the data give an evidence that there is no difference in fuel efficiency.
In: Statistics and Probability