Retries 1Info Details

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27% of all college students major in STEM (Science, Technology, Engineering, and Math). If 49 college students are randomly selected, find the probability that

a. Exactly 11 of them major in STEM.
b. At most 14 of them major in STEM.
c. At least 15 of them major in STEM.
d. Between 10 and 14 (including 10 and 14) of them major in STEM.

A study is conducted to determine the relationship between a driver's age and the number of accidents that he or she has had over a 1-year period.

The data from this study is in the table:

Age 16 24 18 17 23 27 32

Accidents 3 2 5 2 0 1 1

The correlation coefficient for this problem is

There is/ is not evidence of significant correlation at the 5% significance level

The best estimate for the number of accidents a 20-year old driver has in 1 year is

MA1: 27

SD = 7.37

MA2 = 29

SD = 6.16

MA3 = 32

SD = 5.45

• With α = .05, is there a statistically significant difference between the means of caffeine consumption?
• If so, what is the value of η²?
• Using the Tukey HSD test (show your work), which means are different?

A pharmaceutical development corporation tests a new pain reliever on 78 people with head colds. Assume that 45% of head colds would subside naturally without the drug.

1. Find the probability that exactly 20 people will be cured without a pain reliever

2. Find the probability that less than 40 people will be cured without a pain reliever.

3. Use the normal approximation to approximate the probability that of the 78 people chosen, between 27 and 47 (inclusive) will be cured without a pain reliever.

1. Customer satisfaction data for two similar stores are provided below. The scores are averages of ratings on a scale of 1 to 10. Assume the populations are normally distributed.

Store A: sample size = 25, sample mean = 7.9, population standard deviation = 1.4

Store B: sample size = 27, sample mean = 8.6, population standard deviation = 1.9

Construct a 95% confidence interval for the difference between customer satisfaction for Stores A and B. State your conclusion in terms of the problem

11-2

The stock of Bruin, Inc., has an expected return of 27 percent and a standard deviation of 40 percent. The stock of Wildcat Co. has an expected return of 14 percent and a standard deviation of 45 percent. The correlation between the two stocks is 0.45. Calculate the expected return and standard deviation of the minimum variance portfolio. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

A statistics practitioner took a random sample of 55 observations from a population whose standard deviation is 27 and computed the sample mean to be 110.

Note: For each confidence interval, enter your answer in the form (LCL, UCL). You must include the parentheses and the comma between the confidence limits.

A. Estimate the population mean with 95% confidence.

Confidence Interval =

B. Estimate the population mean with 90% confidence.

Confidence Interval =

C. Estimate the population mean with 99% confidence.

Confidence Interval =

1.A sample of 80 is drawn from a population with a proportion equal to 0.50. Determine the probability of observing between 33 and 50 successes.

2.For a population that is left skewed with a mean of 27 and a standard deviation equal to 16​, determine the probability of observing a sample mean of 25 or more from a sample of size 37.

3. For a normal population with a mean equal to 80 and a standard deviation equal to 11​, determine the probability of observing a sample mean of 87 or less from a sample of size 11.

Case Background

A sole proprietor (the owner) has established a service business specializing in recruitment for businesses needing specialized Tool Industry staff. The trail balance at the end of the first three months of operations is provided below. Part of the service is to train people before they are placed with companies. The owner has asked, you, the accountant for HR, to prepare the answers to the questions below considering the notes provided.

Trial Balance

Notes

1. The owner issued a cheque for $2,000 for insurance for the next three month after discovering there was no insurance in place. The cheque has not been recorded as a reduction of cash to-date. There is no insurance expense for the first three months.

2. The equipment must be depreciated for three months. The equipment has a service life of 5 years and monthly depreciation is estimated to be $833 a month.

3. Recorded revenue of $5,000 is unearned and was an advance from a client. This revenue will be earned in the next three months.

4. Salaries of $15,000 were paid in the first three months. However, $1,000 of salaries should be accrued as employees earned these salaries but will not be paid until the 4th month.

5. The owner provided services of $2,500, which were not invoiced or billed to clients in the 3rd month but were earned in accordance with the Revenue Principle.

6. Interest expense (Debit) needs to be recorded at the end of three months. The amount is $750 and should be recorded as a liability in Interest Payable (Credit) on the balance sheet. None of the $50,000 note has been paid to lenders yet. This note will be paid back at the end of 5 years.

7. Supplies of $1,500 must be expensed to Cost of Goods Sold (i.e., moved out of inventory) and a new accrual of Accounts Payable should be established for $2,000 for supplies ordered at the end of the 3rd month, and not booked to-date.

Questions

1. Prepare an adjusted trial balance showing adjustments. Show the adjustments and add any new accounts required because of the adjustments.

Case Background

A sole proprietor (the owner) has established a service business specializing in recruitment for businesses needing specialized Tool Industry staff. The trail balance at the end of the first three months of operations is provided below. Part of the service is to train people before they are placed with companies. The owner has asked, you, the accountant for HR, to prepare the answers to the questions below considering the notes provided.

Trial Balance

Notes

1. The owner issued a cheque for $2,000 for insurance for the next three month after discovering there was no insurance in place. The cheque has not been recorded as a reduction of cash to-date. There is no insurance expense for the first three months.

2. The equipment must be depreciated for three months. The equipment has a service life of 5 years and monthly depreciation is estimated to be $833 a month.

3. Recorded revenue of $5,000 is unearned and was an advance from a client. This revenue will be earned in the next three months.

4. Salaries of $15,000 were paid in the first three months. However, $1,000 of salaries should be accrued as employees earned these salaries but will not be paid until the 4th month.

5. The owner provided services of $2,500, which were not invoiced or billed to clients in the 3rd month but were earned in accordance with the Revenue Principle.

6. Interest expense (Debit) needs to be recorded at the end of three months. The amount is $750 and should be recorded as a liability in Interest Payable (Credit) on the balance sheet. None of the $50,000 note has been paid to lenders yet. This note will be paid back at the end of 5 years.

7. Supplies of $1,500 must be expensed to Cost of Goods Sold (i.e., moved out of inventory) and a new accrual of Accounts Payable should be established for $2,000 for supplies ordered at the end of the 3rd month, and not booked to-date.

Questions

1. Which inventory system (perpetual or periodic) would provide the most cost-benefit to the owner?