Cholesterol levels were collected from patients two days after they had a heart attack (Ryan, Joiner & Ryan, Jr, 1985) and are in table #3.3.10.
Find the five-number summary and interquartile range (IQR) (3points), and draw a box-and-whiskers plot with all the components labeled (3 points). Extra Credit (2points): State the shape of the distribution (1 point), upper and lower fence (2 points), and if there are any outliers (1 point).
16.An experiment is rolling a fair dieand then flipping a fair coin.
a.)State and write out all the points in the sample space.
b.)Find the probability of getting a head. Make sure you state the event space.
c.)Find the probability of getting a 6 or a head.
d.)Find the probability of getting a 3 and a tail.
In: Math
According to Nielsen Media Research, the average number of hours of TV viewing by adults (18 and over) per week in the United States is 36.07 hours. Suppose the standard deviation is 9.7 hours and a random sample of 52 adults is taken.
a. What is the probability that the sample average is more than 35 hours?
b. What is the probability that the sample average is less than 38.8 hours?
c. What is the probability that the sample average is less than 29 hours? If the sample average actually is less than 40 hours, what would it mean in terms of the Nielsen Media Research figures?
d. Suppose the population standard deviation is unknown. If 75% of all sample means are greater than 48 hours and the population mean is still 36.07 hours, what is the value of the population standard deviation?
In: Math
Each round of game played by a gambler is either a win with probability p or a loss with probability 1 − p. If the round is a win, then a random amount of money having an exponential distribution with rate λ will be awarded to the gambler. If the round is a loss, then he loses everything that had been accumulated up to that time and cannot play any additional rounds. After a win round, the gambler can either choose to quit and keep whatever has been won or can choose to play another round. Suppose that a gambler plans to continue playing until either his total winnings exceeds t or a loss occurs.
(a) What is the expectation of N, the number of winning rounds that it would take until his fortune 1 exceeds t?
(b) What is the probability he will successfully reach a fortune of at least t?
In: Math
Statistics
EXERCISE 8. A fair pair of dies is to be cast once. What is the probability of getting a) 7, b) 11, c) 7 or 11, d) a sum divisible by 3? Answer. a) 1/6. b) 1/18. c) 2/9. d) 1/3. EXERCISE 9.One card is selected from an ordinary deck of playing cards. What is the probability of getting a) a queen, b= a jack, c= either a queen or a jack, d) a queen or a red card, e) a face card? Answer. a) 4/52. b) 4/52. c) 8/52. d) 28/52. e) 12/52.
EXERCISE 10. In a certain community, the probability that a family has a television set is 80%; a washing machine 50%; both a television set and a washing machine 45%. What is the probability that a family has either a television set or a washing machine or both? Answer. 85%.
EXERCISE 11. In a state lottery, a three-digit number is randomly selected between 000 and 999 inclusive. Find the exact probability that the number selected is less than 100 or greater than 900. Answer. 19,9%.
EXERCISE 12. A labor study involves a sample of 12 mining companies, 18 construction companies, 10 manufacturing companies and 2 wholesale companies. If a company is randomly selected from this sample group, find the probability of getting a mining or construction company. Answer. 61/366.
EXERCISE 13. Two cards are to be drawn without replacement from an ordinary deck of playing cards. What is the probability that both of the cards drawn are aces? Answer. 12/2652.
EXERCISE 14. Of all students attending a given college, 40% are males and 4% are males majoring in art. A student is to be selected at random. Given that the selected student is male, what is the probability that he is an art major? Answer. 10%
EXERCISE 15. Two cards are to be drawn without replacement from an ordinary deck of playing cards. What is the probability a) that the first card to be drawn is a queen and the second card is king? b) of drawing a combination of queen and king? c) that neither of the two cards will be queen? d) that neither of the two cards will be queen or a king? Answer. a) 16/2652. b)32/2352. c) 2256/2652. d) 1892/2652.
EXERCISE 16. Urn A contains 4 white and 3 red marbles, urn B contains 2 white and 5 red marbles. A marble is to be selected from urn A and another marble is to be selected from urn B. What is the probability that the two marbles selected are white? Answer. 8/49.
Please show your workings. I have shown the possible answer already. Thank you!
In: Statistics and Probability
Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. There has been a long-simmering dispute between the company’s estimator and the work supervisors. The on-site supervisors claim that the estimators do not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and nonroutine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that nonroutine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square footage by $2.80 to determine the bid price. Since our average cost is only $2.305 per square foot, that leaves enough cushion to take care of the additional costs of nonroutine work that shows up. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.”
To shed light on this controversy, the company initiated an activity-based costing study of all of its costs. Data from the activity-based costing system follow:
| Activity Cost Pool | Activity Measure | Total Activity | |
| Removing asbestos | Thousands of square feet | 800 | thousand square feet |
| Estimating and job setup | Number of jobs | 400 | jobs |
| Working on nonroutine jobs | Number of nonroutine jobs | 100 | nonroutine jobs |
| Other (organization-sustaining costs and idle capacity costs) | None | ||
| Note: The 100 nonroutine jobs are included in the total of 400 jobs. Both nonroutine jobs and routine jobs require estimating and setup. | |||
| Costs for the Year | ||
| Wages and salaries | $ | 332,000 |
| Disposal fees | 740,000 | |
| Equipment depreciation | 90,000 | |
| On-site supplies | 54,000 | |
| Office expenses | 240,000 | |
| Licensing and insurance | 440,000 | |
| Total cost | $ | 1,896,000 |
| Distribution of Resource Consumption Across Activities | ||||||||||||||||
| Removing Asbestos | Estimating and Job Setup | Working on Nonroutine Jobs | Other | Total | ||||||||||||
| Wages and salaries | 50 | % | 10 | % | 30 | % | 10 | % | 100 | % | ||||||
| Disposal fees | 70 | % | 0 | % | 30 | % | 0 | % | 100 | % | ||||||
| Equipment depreciation | 40 | % | 5 | % | 20 | % | 35 | % | 100 | % | ||||||
| On-site supplies | 60 | % | 25 | % | 15 | % | 0 | % | 100 | % | ||||||
| Office expenses | 10 | % | 40 | % | 15 | % | 35 | % | 100 | % | ||||||
| Licensing and insurance | 25 | % | 0 | % | 60 | % | 15 | % | 100 | % | ||||||
Required:
1. Perform the first-stage allocation of costs to the activity cost pools.
2. Compute the activity rates for the activity cost pools.
3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system.
a. A routine 1,000-square-foot asbestos removal job.
b. A routine 2,000-square-foot asbestos removal job.
c. A nonroutine 2,000-square-foot asbestos removal job.
In: Accounting
Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. There has been a long-simmering dispute between the company’s estimator and the work supervisors. The on-site supervisors claim that the estimators do not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and nonroutine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that nonroutine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square footage by $2.60 to determine the bid price. Since our average cost is only $2.35 per square foot, that leaves enough cushion to take care of the additional costs of nonroutine work that shows up. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.”
To shed light on this controversy, the company initiated an activity-based costing study of all of its costs. Data from the activity-based costing system follow:
| Activity Cost Pool | Activity Measure | Total Activity | |
| Removing asbestos | Thousands of square feet | 1,000 | thousand square feet |
| Estimating and job setup | Number of jobs | 500 | jobs |
| Working on nonroutine jobs | Number of nonroutine jobs | 100 | nonroutine jobs |
| Other (organization-sustaining costs and idle capacity costs) | None | ||
| Note: The 100 nonroutine jobs are included in the total of 500 jobs. Both nonroutine jobs and routine jobs require estimating and setup. | |||
| Costs for the Year | ||
| Wages and salaries | $ | 402,000 |
| Disposal fees | 737,000 | |
| Equipment depreciation | 104,000 | |
| On-site supplies | 64,000 | |
| Office expenses | 330,000 | |
| Licensing and insurance | 460,000 | |
| Total cost | $ | 2,097,000 |
| Distribution of Resource Consumption Across Activities | ||||||||||||||||
| Removing Asbestos | Estimating and Job Setup | Working on Nonroutine Jobs | Other | Total | ||||||||||||
| Wages and salaries | 50 | % | 15 | % | 20 | % | 15 | % | 100 | % | ||||||
| Disposal fees | 60 | % | 0 | % | 40 | % | 0 | % | 100 | % | ||||||
| Equipment depreciation | 50 | % | 10 | % | 15 | % | 25 | % | 100 | % | ||||||
| On-site supplies | 70 | % | 20 | % | 10 | % | 0 | % | 100 | % | ||||||
| Office expenses | 10 | % | 35 | % | 25 | % | 30 | % | 100 | % | ||||||
| Licensing and insurance | 30 | % | 0 | % | 50 | % | 20 | % | 100 | % | ||||||
Required:
1. Perform the first-stage allocation of costs to the activity cost pools.
2. Compute the activity rates for the activity cost pools.
3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system.
a. A routine 1,000-square-foot asbestos removal job.
b. A routine 2,000-square-foot asbestos removal job.
c. A nonroutine 2,000-square-foot asbestos removal job.
In: Accounting
Vance Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. The company’s estimator has been involved in a long-simmering dispute with the on-site work supervisors. The on-site supervisors claim that the estimator does not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and non-routine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that non-routine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square metres by $4,700 per thousand square metres to determine the bid price. Since our average cost is only $3,700 per thousand square metres, that leaves enough cushion to take care of the additional costs of non-routine work that shows up. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.”
To shed light on this controversy, the company initiated an ABC study of all of its costs. Data from the ABC system follow:
| Activity Cost Pool | Activity Measure | Total Activity | |
| Removing asbestos | Thousands of square metres | 500,000 | m2 |
| Estimating and job setup | Number of jobs | 260 | jobs* |
| Working on non-routine jobs | Number of non-routine jobs | 25 | non-routine jobs |
| Other (costs of idle capacity and organization-sustaining costs) | Not applicable; these costs are not allocated to jobs. | ||
* The total number of jobs includes non-routine jobs as well as routine jobs. Non-routine jobs as well as routine jobs require estimating and setup work.
| Wages and salaries | $ | 270,000 | |
| Disposal fees | 705,000 | ||
| Equipment depreciation | 101,000 | ||
| On-site supplies | 74,000 | ||
| Office expenses | 246,000 | ||
| Licensing and insurance | 454,000 | ||
| Total cost | $ | 1,850,000 | |
|
Distribution of Resource Consumption across Activity Cost Pools |
|||||||||||||||
|
Removing Asbestos |
Estimating and Job Setup |
Working on Non-routine Jobs | Other | Total | |||||||||||
| Wages and salaries | 45 | % | 10 | % | 30 | % | 15 | % | 100 | % | |||||
| Disposal fees | 70 | % | 0 | % | 30 | % | 0 | % | 100 | % | |||||
| Equipment depreciation | 40 | % | 0 | % | 35 | % | 25 | % | 100 | % | |||||
| On-site supplies | 55 | % | 15 | % | 25 | % | 5 | % | 100 | % | |||||
| Office expenses | 10 | % | 40 | % | 35 | % | 15 | % | 100 | % | |||||
| Licensing and insurance | 50 | % | 0 | % | 40 | % | 10 | % | 100 | % | |||||
Required:
1. Perform the first-stage allocation of costs to the activity cost pools. (Do not leave any empty spaces; input a 0 wherever it is required.)
| Removing asbestos | estimating and job set up | working on non-job routines | others | totals | |
| wages and salaries | |||||
|
disposla fees |
|||||
| equipement depreciation | |||||
| On-site supplies | |||||
| office expenses | |||||
| licensing and insurance |
2. Compute the activity rates for the activity cost pools. (Round your answers to 2 decimal places.)
| Acitivity cost pool | Activity rate |
| Removing abestos | number (per thousand sqaure meters ) |
| estimating and job set up | number (per job) |
| working on non job routines | number (per non-job routine) |
3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square metres of each of the following jobs according to the ABC system:
a. A routine 1,000-square-metre asbestos removal job. (Round your answers to 2 decimal places.)
total costs of jobs
average cost per thousand square meters
b. A routine 2,000-square-metre asbestos removal job. (Round your answers to 2 decimal places.)
total cost of jobs
cost per thousand square meters
c. A non-routine 1,000-square-metre asbestos removal job. (Round your answers to 2 decimal places.)
total cost of jobs
cost per thousand square meters
In: Accounting
Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. There has been a long-simmering dispute between the company’s estimator and the work supervisors. The on-site supervisors claim that the estimators do not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and nonroutine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that nonroutine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square footage by $2.70 to determine the bid price. Since our average cost is only $2.405 per square foot, that leaves enough cushion to take care of the additional costs of nonroutine work that shows up. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.”
To shed light on this controversy, the company initiated an activity-based costing study of all of its costs. Data from the activity-based costing system follow:
| Activity Cost Pool | Activity Measure | Total Activity | |
| Removing asbestos | Thousands of square feet | 800 | thousand square feet |
| Estimating and job setup | Number of jobs | 500 | jobs |
| Working on nonroutine jobs | Number of nonroutine jobs | 100 | nonroutine jobs |
| Other (organization-sustaining costs and idle capacity costs) | None | ||
| Note: The 100 nonroutine jobs are included in the total of 500 jobs. Both nonroutine jobs and routine jobs require estimating and setup. | |||
| Costs for the Year | ||
| Wages and salaries | $ | 323,000 |
| Disposal fees | 759,000 | |
| Equipment depreciation | 90,000 | |
| On-site supplies | 56,000 | |
| Office expenses | 250,000 | |
| Licensing and insurance | 450,000 | |
| Total cost | $ | 1,928,000 |
| Distribution of Resource Consumption Across Activities | ||||||||||||||||
| Removing Asbestos | Estimating and Job Setup | Working on Nonroutine Jobs | Other | Total | ||||||||||||
| Wages and salaries | 60 | % | 10 | % | 20 | % | 10 | % | 100 | % | ||||||
| Disposal fees | 60 | % | 0 | % | 40 | % | 0 | % | 100 | % | ||||||
| Equipment depreciation | 40 | % | 5 | % | 20 | % | 35 | % | 100 | % | ||||||
| On-site supplies | 70 | % | 20 | % | 10 | % | 0 | % | 100 | % | ||||||
| Office expenses | 15 | % | 35 | % | 20 | % | 30 | % | 100 | % | ||||||
| Licensing and insurance | 25 | % | 0 | % | 60 | % | 15 | % | 100 | % | ||||||
Required:
1. Perform the first-stage allocation of costs to the activity cost pools.
2. Compute the activity rates for the activity cost pools.
3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system.
a. A routine 1,000-square-foot asbestos removal job.
b. A routine 2,000-square-foot asbestos removal job.
c. A nonroutine 2,000-square-foot asbestos removal job.
In: Accounting
Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. There has been a long-simmering dispute between the company’s estimator and the work supervisors. The on-site supervisors claim that the estimators do not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and nonroutine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that nonroutine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square footage by $2.50 to determine the bid price. Since our average cost is only $2.01 per square foot, that leaves enough cushion to take care of the additional costs of nonroutine work that shows up. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.”
To shed light on this controversy, the company initiated an activity-based costing study of all of its costs. Data from the activity-based costing system follow:
| Activity Cost Pool | Activity Measure | Total Activity | |
| Removing asbestos | Thousands of square feet | 850 | thousand square feet |
| Estimating and job setup | Number of jobs | 400 | jobs |
| Working on nonroutine jobs | Number of nonroutine jobs | 100 | nonroutine jobs |
| Other (organization-sustaining costs and idle capacity costs) | None | ||
| Note: The 100 nonroutine jobs are included in the total of 400 jobs. Both nonroutine jobs and routine jobs require estimating and setup. | |||
| Costs for the Year | ||
| Wages and salaries | $ | 308,000 |
| Disposal fees | 706,000 | |
| Equipment depreciation | 90,000 | |
| On-site supplies | 50,000 | |
| Office expenses | 210,000 | |
| Licensing and insurance | 410,000 | |
| Total cost | $ | 1,774,000 |
| Distribution of Resource Consumption Across Activities | ||||||||||||||||
| Removing Asbestos | Estimating and Job Setup | Working on Nonroutine Jobs | Other | Total | ||||||||||||
| Wages and salaries | 60 | % | 10 | % | 20 | % | 10 | % | 100 | % | ||||||
| Disposal fees | 70 | % | 0 | % | 30 | % | 0 | % | 100 | % | ||||||
| Equipment depreciation | 40 | % | 5 | % | 25 | % | 30 | % | 100 | % | ||||||
| On-site supplies | 70 | % | 20 | % | 10 | % | 0 | % | 100 | % | ||||||
| Office expenses | 15 | % | 35 | % | 20 | % | 30 | % | 100 | % | ||||||
| Licensing and insurance | 25 | % | 0 | % | 50 | % | 25 | % | 100 | % | ||||||
Required:
1. Perform the first-stage allocation of costs to the activity cost pools.
2. Compute the activity rates for the activity cost pools.
3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system.
a. A routine 1,000-square-foot asbestos removal job.
b. A routine 2,000-square-foot asbestos removal job.
c. A nonroutine 2,000-square-foot asbestos removal job.
In: Accounting
Vance Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. The company’s estimator has been involved in a long-simmering dispute with the on-site work supervisors. The on-site supervisors claim that the estimator does not adequately distinguish between routine work, such as removal of asbestos insulation around heating pipes in older homes, and non-routine work, such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that non-routine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square metres by $4,700 per thousand square metres to determine the bid price. Since our average cost is only $3,700 per thousand square metres, that leaves enough cushion to take care of the additional costs of non-routine work that shows up. Besides, it is difficult to know what is routine or not routine until you actually start tearing things apart.”
To shed light on this controversy, the company initiated an ABC study of all of its costs. Data from the ABC system follow:
| Activity Cost Pool | Activity Measure | Total Activity | |||||||||||||||||||||||||||||||||||||||||||||
| Removing asbestos | Thousands of square metres | 500,000 | m2 | ||||||||||||||||||||||||||||||||||||||||||||
| Estimating and job setup | Number of jobs | 210 | jobs* | ||||||||||||||||||||||||||||||||||||||||||||
| Working on
non-routine jobs
* The total number of jobs includes non-routine jobs as well as routine jobs. Non-routine jobs as well as routine jobs require estimating and setup work.
|
Number of non-routine jobs | 26 | non-routine jobs | ||||||||||||||||||||||||||||||||||||||||||||
| Other (costs of idle capacity and organization-sustaining costs) | Not applicable; these costs are not allocated to jobs. | ||||||||||||||||||||||||||||||||||||||||||||||
|
Distribution of Resource Consumption across Activity Cost Pools |
|||||||||||||||
|
Removing Asbestos |
Estimating and Job Setup |
Working on Non-routine Jobs | Other | Total | |||||||||||
| Wages and salaries | 40 | % | 10 | % | 35 | % | 15 | % | 100 | % | |||||
| Disposal fees | 75 | % | 0 | % | 25 | % | 0 | % | 100 | % | |||||
| Equipment depreciation | 45 | % | 0 | % | 40 | % | 15 | % | 100 | % | |||||
| On-site supplies | 50 | % | 15 | % | 25 | % | 10 | % | 100 | % | |||||
| Office expenses | 10 | % | 40 | % | 30 | % | 20 | % | 100 | % | |||||
| Licensing and insurance | 50 | % | 0 | % | 45 | % | 5 | % | 100 | % | |||||
|
1. Perform the first-stage allocation of costs to the activity cost pools. (Do not leave any empty spaces; input a 0 wherever it is required.) 2. Compute the activity rates for the activity cost pools. (Round your answers to 2 decimal places.) 3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square metres of each of the following jobs according to the ABC system: a. A routine 2,000-square-metre asbestos removal job. (Round your answers to 2 decimal places.) b. A routine 4,000-square-metre asbestos removal job. (Round your answers to 2 decimal places.) c. A non-routine 2,000-square-metre asbestos removal job. (Round your answers to 2 decimal places.) |
|||||||||||||||
In: Accounting