A normally distributed population has a mean of 74 and a standard deviation of 14. Determine the probability that a random sample of size 24 has an average between 71 and 80.

Round to four decimal places.

A stock price is $74, and current risk free interest rates are 2%. If the put option with a $100 strike price expires in 6 months, and the call option is trading at $26.25, how would you arb this option?

The American Bankers Association reported that, in a sample of 150 consumer purchases in France, 74 were made with cash, compared with 28 in a sample of 60 consumer purchases in the United States.

Construct a 99 percent confidence interval for the difference in proportions. (Round your intermediate value and final answers to 4 decimal places.)

The 99 percent confidence interval is from to _____ . _____

A random sample is drawn from a population with mean μ = 74 and standard deviation σ = 6.2. [You may find it useful to reference the z table.]

a. Is the sampling distribution of the sample mean with n = 18 and n = 47 normally distributed?

Yes, both the sample means will have a normal distribution.

No, both the sample means will not have a normal distribution.

No, only the sample mean with n = 18 will have a normal distribution.

No, only the sample mean with n = 47 will have a normal distribution.

b. Calculate the probability that the sample mean falls between 74 and 77 for n = 47. (Round intermediate calculations to at least 4 decimal places, “z” value to 2 decimal places, and final answer to 4 decimal places.)

The following information relates to the Wallstrom Company, a publisher of travel and sports periodicals, at the end of December 2017. The company’s accounting period follows a calendar year of January through December.

1. Employees are paid every Friday for the five-day week ending on that day. Salaries amount to $4,000 per week. This year, the company’s current operating year concluded on Tuesday, December 31, 2017.2. A note for $5,000 was received from a customer for a special one time sales transaction on April 1, 2017. The note is due in one year, plus interest at 6%.3. On September 1, 2017, Wallstrom borrowed $25,000 cash by signing a note payable due in one year at 6% interest.4. An insurance premium of $6,000 was paid on March 1, 2017, and was charged to Prepaid Insurance. The premium covers a 24-month period beginning March 1, 2017.5. On June 1, 2017, cash of $54,000 was received from subscribers (customers) for a 36-month subscription period beginning on that date. The receipt was recorded by a debit to Cash and a credit to Unearned Subscription Revenue.6. The Supplies account showed a balance of $5,000 at the beginning of 2017. Supplies costing $16,000 were purchased during 2017 and debited to the asset account supplies. Supplies of $3,000 were still on hand at December 31, 2017.

Required: prepare in journal entry form, the necessary year end December 31, 2017 adjustments based on the information above.

Exercise 15-30 (Algo) Purchase option; lessor; sales-type lease; no selling profit [LO15-2, 15-6]

Universal Leasing leases electronic equipment to a variety of businesses. The company’s primary service is providing alternate financing by acquiring equipment and leasing it to customers under long-term sales-type leases. Universal earns interest under these arrangements at a 9% annual rate.
  
The company leased an electronic typesetting machine it purchased for $49,900 to a local publisher, Desktop Inc., on December 31, 2020. The lease contract specified annual payments of $10,249 beginning January 1, 2021, the beginning of the lease, and each December 31 through 2022 (three-year lease term). The publisher had the option to purchase the machine on December 30, 2023, the end of the lease term, for $28,000 when it was expected to have a residual value of $32,000, a sufficient difference that exercise seems reasonably certain. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:
1. Show how Universal calculated the $10,249 annual lease payments for this sales-type lease.
2. Prepare an amortization schedule that describes the pattern of interest revenue for Universal Leasing over the lease term.
3. Prepare the appropriate entries for Universal Leasing from the beginning of the lease through the end of the lease term.

Alpha and Beta are divisions within the same company. The managers of both divisions are evaluated based on their own division’s return on investment (ROI). Assume the following information relative to the two divisions: Case 1 2 3 4 Alpha Division: Capacity in units 57,000 291,000 101,000 200,000 Number of units now being sold to outside customers 57,000 291,000 75,000 200,000 Selling price per unit to outside customers $103 $40 $62 $48 Variable costs per unit $65 $21 $39 $32 Fixed costs per unit (based on capacity) $27 $10 $20 $9 Beta Division: Number of units needed annually 10,500 65,000 20,000 60,000 Purchase price now being paid to an outside supplier $95 $36 $62* — * Before any purchase discount. Managers are free to decide if they will participate in any internal transfers. All transfer prices are negotiated. Required: 1. Refer to case 1 shown above. Alpha Division can avoid $5 per unit in commissions on any sales to Beta Division. a. What is the minimum transfer price for Alpha Division? b. What is the maximum transfer price for Beta Division? c. Will the managers agree to a transfer? No Yes 2. Refer to case 2 shown above. A study indicates that Alpha Division can avoid $6 per unit in shipping costs on any sales to Beta Division. a-1. What is the minimum transfer price for Alpha Division? a-2. What is the maximum transfer price for Beta Division? a-3. Would you expect any disagreement between the two divisional managers over what the transfer price should be? No Yes b. Assume that Alpha Division offers to sell 65,000 units to Beta Division for $35 per unit and that Beta Division refuses this price. What will be the loss in potential profits for the company as a whole? 3. Refer to case 3 shown above. Assume that Beta Division is now receiving an 6% price discount from the outside supplier. a-1. What is the minimum transfer price for Alpha Division? a-2. What is the range of transfer price the manager's of both divisions should agree? (Round your answers to 2 decimal places.) a-3. Will the managers agree to a transfer? No Yes b. Assume that Beta Division offers to purchase 20,000 units from Alpha Division at $53.28 per unit. If Alpha Division accepts this price, would you expect its ROI to increase, decrease, or remain unchanged? 4. Refer to case 4 shown above. Assume that Beta Division wants Alpha Division to provide it with 60,000 units of a different product from the one that Alpha Division is now producing. The new product would require $26 per unit in variable costs and would require that Alpha Division cut back production of its present product by 30,000 units annually. What is the lowest acceptable transfer price from Alpha Division’s perspective?

A study of the amount of time it takes a mechanic to rebuild the transmission for a 2005 Chevrolet Cavalier shows that the mean is 8.6 hours and the standard deviation is 2.1 hours. If 36 mechanics are randomly selected, find the probability that their mean rebuild time exceeds 8.9 hours.

please add explanation and solve