In: Economics
The Internal Revenue Service audits a random sample of 60% of tax returns where the gross income exceeds $100,000. If a tax lawyer assists in the completion of 5 such returns, what is the probability that between 2 and 4 will be audited.
In: Statistics and Probability
1. Please discuss the characteristics of the perfect competition market structure.
2. What are the main characteristics of a competitive market?
3. Explain the difference between a firm’s revenue and its
profit. Which do firms maximize?
In: Economics
1. A psychopharmacologist conducted a study on the effects of the drug lithium for the treatment of depression. Twenty-seven patients were chosen whose principal problem was depression. There were 3 groups: Placebo, Low Dose (50mg) and High Dose (200mg). There were 9 patients in each group. At the end of 30 days, the patients were evaluated for their level of depression, with higher scores indicating higher levels of depression.
Fill in the blanks with the appropriate numbers, setting alpha=.05.
Source SS df MS F p
Total _____ __
Between 143.41 __ ___ ___ ___
Within 365.11 __ ___
2. Which of the following is true of between-subjects ANOVA?
A) Participants provide data for just one condition/level of the independent variable.
B) Participants contribute data to every condition/level of the independent variable.
3. A between-subject ANOVA is similar to an independent t-test, EXCEPT _____.
A) that in a between-subjects ANOVA , the IV cannot have more than two levels
B) that in a between-subjects ANOVA, the DV cannot exceed the alpha level
C) that in a between-subjects ANOVA, the IV can have three or more levels
D) that in a t test, the DV has to be nominal
3. In a J=3 between-subjects ANOVA, we find that the p-value is 0.003. We therefore conclude that:
A) there is no statistical evidence that any group mean is different from any other
B) all group means are equal
C) all group variances are equal
D) all group means are different
E) the null hypothesis should be rejected
5. In an ANOVA with J = 5 and a total sample size of 65, using ? = 0.05, what is the critical value?
4. Use the following information to answer the questions (6a-6d) that come after it:
You are interested in the effect of pay on the productivity of your employees. To test this effect you set up a study. The results follow:
Source SS df MS F p
Total 291.51 38
Between (Pay) 99.51 2 46.76 9.33 <.01
Within 192.00 36 5.33
6a. What is your null hypothesis?
A) More pay will lower or not affect productivity.
B) More pay will raise or not affect productivity.
C) Pay will not affect productivity.
D) None of the above
6b. How many levels of the independent variable are in the experiment?
A) 1
B) 2
C) 3
D) None of the above
6c. How many participants were in the study?
A) 38
B) 39
C) 40
D) None of the above
6d. With ?=.05, what is your decision?
A) Accept the null hypothesis.
B) Accept the alternative hypothesis.
In: Statistics and Probability
1–11. Research Case—GASB. (LO1-1) Access the Governmental Accounting Standards Board website at www.GASB.org. Find the GASB White Paper on “Why Governmental Accounting and Financial Reporting Is—and Should Be—Different.” There are numerous differences between governments and for-profits in the accounting and reporting of financial transactions. Two accounting and reporting differences between governments and for-profit organizations relate to capital assets and major revenue sources. Using the information in the White Paper and your knowledge from your financial accounting courses (refer to a financial accounting textbook or the FASB website [www.FASB.org] if you need a refresher), discuss why there are accounting and reporting differences related to capital assets and the organizations' major revenue sources (sales and property tax revenues).
In: Accounting
We assume that our wages will increase as we gain experience and become more valuable to our employers. Wages also increase because of inflation. By examining a sample of employees at a given point in time, we can look at part of the picture. How does length of service (LOS) relate to wages? The data here (data426.dat) (see below) is the LOS in months and wages for 60 women who work in Indiana banks. Wages are yearly total income divided by the number of weeks worked. We have multiplied wages by a constant for reasons of confidentiality.
(a) Plot wages versus LOS. Consider the relationship and whether or not linear regression might be appropriate. (Do this on paper. Your instructor may ask you to turn in this graph.)
(b) Find the least-squares line. Summarize the significance test for the slope. What do you conclude?
Wages = _________ + __________ LOS
t = _________
P = _________
(c) State carefully what the slope tells you about the relationship between wages and length of service. This answer has not been graded yet.
(d) Give a 95% confidence interval for the slope.
(______ , _______)
worker wages los size 1 55.0977 28 Large 2 60.3942 54 Small 3 55.5375 35 Small 4 48.6244 27 Small 5 56.5636 188 Large 6 38.237 156 Small 7 43.5632 30 Large 8 42.7156 61 Large 9 39.143 65 Large 10 46.1205 23 Small 11 49.5348 68 Large 12 63.0939 76 Small 13 37.3613 57 Small 14 86.4907 44 Large 15 62.1521 103 Large 16 49.2244 51 Large 17 61.2332 63 Large 18 38.775 14 Small 19 47.1923 127 Large 20 38.5997 39 Large 21 38.8533 105 Large 22 46.0433 164 Small 23 64.581 70 Large 24 41.4075 17 Small 25 55.9129 143 Large 26 47.352 107 Small 27 43.1829 22 Small 28 51.886 197 Large 29 51.3497 46 Large 30 60.591 40 Large 31 55.6434 77 Small 32 37.9994 34 Large 33 50.3993 85 Large 34 39.2409 88 Small 35 51.1068 118 Large 36 44.8436 58 Large 37 39.4066 78 Large 38 64.675 47 Small 39 59.4471 142 Large 40 70.2038 93 Small 41 47.4302 168 Small 42 44.8665 33 Small 43 39.4258 27 Large 44 71.8007 69 Small 45 38.5246 46 Large 46 71.9274 68 Small 47 51.5816 22 Large 48 65.4135 18 Large 49 64.9034 76 Small 50 73.0817 97 Large 51 45.4468 35 Large 52 44.2239 56 Large 53 68.4574 87 Large 54 37.7713 60 Small 55 46.0706 86 Small 56 45.3591 62 Large 57 53.7606 21 Small 58 104.9657 74 Large 59 40.4731 71 Small 60 60.6301 97 Large
In: Math
Use the information below for ABC Co. to answer the following questions.
Balance Sheet December 31
2005 2004
Assets
Cash $ 20,000 $ 10,000
Accounts receivable 160,000 110,000
Inventories 80,000 50,000
Prepaid Rent 15,000 10,000
Investments 100,000 75,000
Plant assets 210,000 250,000
Accumulated depreciation (65,000) (60,000)
Total $520,000 $445,000
Liabilities and Stockholders' Equity
Accounts payable $ 50,000 $ 40,000
Interest payable 20,000 5,000
Income tax payable 5,000 10,000
Note payable 130,000 140,000
Common stock 155,000 100,000
Retained earnings 160,000 150,000
Total $520,000 $445,000
Income Statement
For the Year Ended December 31, 2005
Sales $800,000
Cost of goods sold 480,000
Gross Profit 320,000
Operating expenses (including Depreciation Expense) 120,000
Interest expense 20,000
Income tax expense 25,000
Total 165,000
Income before Gains and Losses 155,000
Gain on sale of plant assets 5,000
Net income $ 160,000
Additional information:
Accounts payable pertain to the purchase of inventory.
Plant assets were sold for $40,000. The cost of the plant assets was $40,000.
All dividends are cash.
For the year 2005:
1. Cash received/collected from customers is:
2. Purchases for the year is:
3. Cash paid to suppliers is:
4. Depreciation expense is:
5. Cash paid for operating expenses is:
6, Cash paid for interest is:
In: Accounting
Use the information below for ABC Co. to answer the following questions (#15 – 26).
Balance Sheet December 31
2005 2004
Assets
Cash $ 20,000 $ 10,000
Accounts receivable 160,000 110,000
Inventories 80,000 50,000
Prepaid Rent 15,000 10,000
Investments 100,000 75,000
Plant assets 210,000 250,000
Accumulated depreciation (65,000) (60,000)
Total $520,000 $445,000
Liabilities and Stockholders' Equity
Accounts payable $ 50,000 $ 40,000
Interest payable 20,000 5,000
Income tax payable 5,000 10,000
Note payable 130,000 140,000
Common stock 155,000 100,000
Retained earnings 160,000 150,000
Total $520,000 $445,000
Income Statement
For the Year Ended December 31, 2005
Sales $800,000
Cost of goods sold 480,000
Gross Profit 320,000
Operating expenses (including Depreciation Expense) 120,000
Interest expense 20,000
Income tax expense 25,000
Total 165,000
Income before Gains and Losses 155,000
Gain on sale of plant assets 5,000
Net income $ 160,000
Additional information:
Accounts payable pertain to the purchase of inventory.
Plant assets were sold for $40,000. The cost of the plant assets was $40,000.
All dividends are cash.
For the year 2005:
Cash received/collected from customers is:
Purchases for the year is:
Cash paid to suppliers is:
Depreciation expense is:
In: Accounting
A researcher is interested in determining whether the new design of the training simulator and a new behavior modification program will affect a student’s learning behavior. Sixty-three (63) students are randomly selected for inclusion in this research project. The students are randomly divided into 9 groups of 7. The group assignments are as follows:
|
Design A |
Design B |
Design C |
|
|
No behavior modification |
12 |
18 |
21 |
|
10 |
16 |
22 |
|
|
19 |
27 |
33 |
|
|
19 |
23 |
35 |
|
|
15 |
26 |
27 |
|
|
18 |
22 |
34 |
|
|
22 |
22 |
32 |
|
|
Behavior modification every other day |
28 |
30 |
38 |
|
15 |
15 |
20 |
|
|
20 |
20 |
23 |
|
|
12 |
14 |
20 |
|
|
14 |
15 |
14 |
|
|
14 |
20 |
21 |
|
|
17 |
19 |
21 |
|
|
Behavior modification every day |
3 |
7 |
13 |
|
10 |
14 |
18 |
|
|
11 |
11 |
12 |
|
|
8 |
12 |
13 |
|
|
11 |
17 |
19 |
|
|
5 |
10 |
9 |
|
|
17 |
15 |
13 |
After 10 weeks, students are tested on an examination of their learning behavior. The scores range from a low of 1 (low) to 45 (high) (See above table for detailed scores). Analyze the data and answer the following questions. (For any test, use α=0.050 )
In: Statistics and Probability
In 2018, the Westgate Construction Company entered into a
contract to construct a road for Santa Clara County for
$10,000,000. The road was completed in 2020. Information related to
the contract is as follows:
| 2018 | 2019 | 2020 | |||||||
| Cost incurred during the year | $ | 2,604,000 | $ | 4,032,000 | $ | 1,940,400 | |||
| Estimated costs to complete as of year-end | 5,796,000 | 1,764,000 | 0 | ||||||
| Billings during the year | 2,040,000 | 4,596,000 | 3,364,000 | ||||||
| Cash collections during the year | 1,820,000 | 4,000,000 | 4,180,000 | ||||||
Westgate recognizes revenue over time according to percentage of
completion.
rev: 09_15_2017_QC_CS-99734
4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)
| 2018 | 2019 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost incurred during the year | $ | 2,604,000 | $ | 3,820,000 | $ | 3,220,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Estimated costs to complete as of year-end | 5,796,000 | 3,120,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5. Calculate the amount of revenue and gross
profit (loss) to be recognized in each of the three years assuming
the following costs incurred and costs to complete information.
(Do not round intermediate calculations and round your
final answers to the nearest whole dollar amount. Loss amounts
should be indicated with a minus sign.)
|
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|
In: Accounting