The number of female customers arriving to a coffee shop follow a Poisson process with a mean rate of 3 per hour. The number of male customers arriving to the same coffee shop also follow a Poisson process with a mean rate of 6 per hour and their arrival is independent of the arrivals of female customers.
a) What is the probability that the next customer will arrive within 5 minutes?
b) What is the probability that exactly thee customers will arrive in the next 5 minutes?
c) What is the probability of exactly two male and exactly one female customer will arrive in the next 5 minutes?
d). Parts b) and c) ask for the probability of exactly three arrivals in the next 5 minutes. Are they identical? Explain why?
e) What is the probability of exactly five customers will arrive between 6 and 7 hours from now?
In: Math
10. Bill's Produce does 60 percent of its business during June, July, and August.
|
For Year Ended |
For Year Ended |
|
|
December 31, 2006 |
July 31, 2006 |
|
|
Net Sales |
$700,000 |
$690,000 |
|
Receivables, less allowance for doubtful accounts: |
||
|
Beginning of period |
$ 45,000 |
$ 80,000 |
|
(allowance, January 1, $2,000; August 1, $3,000) |
||
|
End of period |
||
|
(allowance, December 31, |
$ 50,000 |
$ 85,000 |
|
$3,000; July 31, |
||
|
$3,500) |
Required:
|
a. |
Compute the days' sales in receivables for July 31, 2006, and December 31, 2006, based on the data above. |
|
b. |
Compute the accounts receivable turnover for the period ended July 31, 2006, and December 31, 2006. |
|
c. |
Comment on the results from (a) and (b). |
In: Finance
3.3) A small market orders copies of a certain magazine for its magazine rack each week. Let X = demand for the magazine, with the following pmf.
| x | 1 | 2 | 3 | 4 | 5 | 6 | ||||||||||||
| p(x) |
|
|
|
|
|
|
Suppose the store owner actually pays $2.00 for each copy of the magazine and the price to customers is $4.00. If magazines left at the end of the week have no salvage value, is it better to order three or four copies of the magazine? [Hint: For both three and four copies ordered, express net revenue as a function of demand X, and then compute the expected revenue.]
*What is the expected profit if three magazines are ordered? (Round your answer to two decimal places.)
*What is the expected profit if four magazines are ordered? (Round your answer to two decimal places.)
*How many magazines should the store owner order?
-3 magazines
-4 magazines
In: Math
To test whether the mean time needed to mix a batch of material is the same for machines produced by three manufacturers, a chemical company obtained the following data on the time (in minutes) needed to mix the material.
| Manufacturer | ||
|---|---|---|
| 1 | 2 | 3 |
| 19 | 27 | 21 |
| 27 | 26 | 19 |
| 24 | 30 | 22 |
| 26 | 33 | 26 |
Find the value of the test statistic. (Round your answer to two decimal places.)
_________.
Find the p-value. (Round your answer to three decimal places.)
p-value = ______.
At the α = 0.05 level of significance, use Fisher's LSD procedure to test for the equality of the means for manufacturers 1 and 3.
Find the value of LSD. (Round your answer to two decimal places.)
LSD = _________.
Find the pairwise absolute difference between sample means for manufacturers 1 and 3.
[x1 − x3]=________.
In: Statistics and Probability
Assume the following scenarios.
Scenario 1: During 2024, IBM provides consulting services on its mainframe computer for $11,000 on account. The customer does not pay for those services until 2025.
Scenario 2: On January 1, 2024, Gold’s Gym sells a one-year membership for $1,200 cash. Normally, this type of membership would cost $1,600, but the company is offering a 25% “New Year’s Resolution” discount.
Scenario 3: During 2024, The Manitowoc Company provides shipbuilding services to the U.S. Navy for $450,000. The U.S. Navy will pay $150,000 at the end of each year for the next three years, beginning in 2024.
Scenario 4: During 2024, Goodyear sells tires to customers on account for $35,000. By the end of the year, collections total $30,000. At the end of 2025, it becomes apparent that the remaining $5,000 will never be collected from customers.
Required:
For each scenario, calculate the amount of revenue to be recognized in 2024.
| Revenue recognized in 2024 | |
| Scenario 1 | |
| Scenario 2 | |
| Scenario 3 | |
| Scenario 4 |
In: Accounting
Antonio’s Car Services provides maintenance services for
motorized vehicles. In March 2018, Rick placed an order for a new
set of tires for $350. When a customer purchases goods or services
in excess of $300, Antonio’s gives the customer a 25% discount
coupon for future purchases made in the next three months.
Antonio’s estimates that approximately 80% of customers utilize the
coupon and that on average those customers will purchase goods or
services that typically sell for $75.
Required:
(a) How many performance obligations are in Rick’s
contract?
(b) Prepare a journal entry to record revenue for
this transaction, assuming that Antonio’s uses the residual method
to estimate the stand-alone selling price of new tires sold without
the discount coupon.
In: Accounting
You have the following information regarding AJH Company:
Sales 25,000 units per year at $45 per unit
Production 30,000 units in 2004
At the beginning of 2004 there was no inventory.
Direct Materials are $12.00 per unit
Direct labor is $10.00 per unit
Variable manufacturing overhead costs are $8.00 per unit
Fixed manufacturing overhead costs are $150,000 per year
Marketing costs are all variable at $3.00 per unit
Administrative costs are all fixed at $75,000 per year
Required:
(a.) Prepare an income statement under absorption costing for 2004
(b.) Prepare an income statement under variable costing for 2004
(c.) Prepare an income statement under throughput costing for 2004.
In: Accounting
| During one semester, a student received grades in various subjects, as shown in Table 2 below. Determine whether there is a significant difference between the student’s grade at the 0.05 level. (15 points) | |||||||||
| Subject | Scores | ||||||||
| Mathematics | 72, 80, 83, 75 | ||||||||
| Science | 81, 74, 77 | ||||||||
| English | 88, 82, 90, 87, 80 | ||||||||
| Economics | 74, 71, 77, 70 | ||||||||
This is the complete question. I think an Anova needs to be done to it?
In: Statistics and Probability
Clinical Trial
Between 2004 and 2007, the National Institutes of Health conducted a STEP vaccine clinical trial—Phase IIB "test-ofconcept" study.
The STEP study is the name of a clinical trial to test an experimental human immunodeficiency virus (HIV) vaccine. The STEP study enrolled 3,000 participants at sites in Australia, Brazil, Canada, the Dominican Republic, Haiti, Jamaica, Peru, Puerto Rico, and the United States. The study was designed to test an HIV vaccine, which aimed to stimulate production of immune system T-cells that can kill HIV-infected cells.
Based on its first evaluation of vaccine efficacy, the findings showed there were 24 cases of HIV infection among the 741 volunteers who received at least one dose of the investigational vaccine compared with 21 cases of HIV infection among the 762 volunteers who were vaccinated with the placebo. In volunteers who received at least two vaccinations, there were 19 cases of HIV infection among the 672 volunteers who received the investigational vaccine and 11 instances of HIV infection among the 691 volunteers who received placebo. The study investigators of the vaccine trials have decided to cease immunizations and are contacting study volunteers to inform them of the developments.
Based on your research, understanding, and above information, answer the following questions:
Prior to beginning this study, how would you have described the risks and benefits of the study to participants?
What are the ethical issues surrounding this study at the beginning and when the decision was made to terminate the study?
In: Nursing
Clinical Trial
Between 2004 and 2007, the National Institutes of Health conducted a STEP vaccine clinical trial—Phase IIB "test-ofconcept" study.
The STEP study is the name of a clinical trial to test an experimental human immunodeficiency virus (HIV) vaccine. The STEP study enrolled 3,000 participants at sites in Australia, Brazil, Canada, the Dominican Republic, Haiti, Jamaica, Peru, Puerto Rico, and the United States. The study was designed to test an HIV vaccine, which aimed to stimulate production of immune system T-cells that can kill HIV-infected cells.
Based on its first evaluation of vaccine efficacy, the findings showed there were 24 cases of HIV infection among the 741 volunteers who received at least one dose of the investigational vaccine compared with 21 cases of HIV infection among the 762 volunteers who were vaccinated with the placebo. In volunteers who received at least two vaccinations, there were 19 cases of HIV infection among the 672 volunteers who received the investigational vaccine and 11 instances of HIV infection among the 691 volunteers who received placebo. The study investigators of the vaccine trials have decided to cease immunizations and are contacting study volunteers to inform them of the developments.
Reference:
National Institutes of Health (2007). National Institute of Allergy and Infectious Diseases: Immunizations are discontinued in two HIV vaccine trials. Retrieved from National Institute of Allergy and Infectious Diseases Pages/step_statement.aspx.
Using the South University Online Library or the Internet, research further on the STEP study, the STEP vaccine clinical trials, and their parameters.
Based on your research, understanding, and above information, answer the following questions:
Prior to beginning this study, how would you have described the risks and benefits of the study to participants?
What are the ethical issues surrounding this study at the beginning and when the decision was made to terminate the study?
In: Nursing