Playbill magazine reported that the mean annual household income of its readers is $120,255. (Playbill, January 2006). Assume this estimate of the mean annual household income is based on a sample of 80 households, and based on past studies, the population standard deviation is known to be σ = $33,225.
a. Develop a 90% confidence interval estimate of the population mean.
b. Develop a 95% confidence interval estimate of the population mean.
c. Develop a 99% confidence interval estimate of the population mean.
d. Discuss what happens to the width of the confidence interval as the confidence level is increase. Does this result seem reasonable? Explain.
In: Math
During the last week of August, Oneida Company’s owner approaches the bank for a $103,000 loan to be made on September 2 and repaid on November 30 with annual interest of 14%, for an interest cost of $3,605. The owner plans to increase the store’s inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank’s loan officer needs more information about Oneida’s ability to repay the loan and asks the owner to forecast the store’s November 30 cash position. On September 1, Oneida is expected to have a $4,000 cash balance, $116,800 of net accounts receivable, and $100,000 of accounts payable. Its budgeted sales, merchandise purchases, and various cash disbursements for the next three months follow.
| Budgeted Figures* | September | October | November | |||
| Sales | $ | 240,000 | $ | 435,000 | $ | 510,000 |
| Merchandise purchases | 235,000 | 215,000 | 192,000 | |||
| Cash payments | ||||||
| Payroll | 20,000 | 21,900 | 23,800 | |||
| Rent | 8,000 | 8,000 | 8,000 | |||
| Other cash expenses | 34,200 | 29,000 | 20,450 | |||
| Repayment of bank loan | 103,000 | |||||
| Interest on the bank loan | 3,605 | |||||
*Operations began in August; August sales were $160,000 and
purchases were $105,000*.
The budgeted September merchandise purchases include the inventory
increase. All sales are on account. The company predicts that 27%
of credit sales is collected in the month of the sale, 44% in the
month following the sale, 22% in the second month, 6% in the third,
and the remainder is uncollectible. Applying these percents to the
August credit sales, for example, shows that $70,400 of the
$160,000 will be collected in September, $35,200 in October, and
$9,600 in November. All merchandise is purchased on credit; 40% of
the balance is paid in the month following a purchase, and the
remaining 60% is paid in the second month. For example, of the
$105,000 August purchases, $42,000 will be paid in September and
$63,000 in October.
QUESTION: Prepare a cash budget for September, October, and November, INCLUDING the calculation of cash reciepts from sales and the calculation of cash payments for merchandise from AUGUST, SEPTEMBER, OCTOBER, and NOVEMBER.
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In: Accounting
Referral Date: January 7, 2017 Security: Acme, Corp. (Ticker: ACME) Referral: On October 31, 2016, Acme, Corp (“Acme”) announced its earnings news for the quarter-ended September 30, 2016 (the “Announcement”). The news was announced before the markets opened. The closing price of Acme on the previous trading day, October 28, 2016, was $15.24 per share. The closing price of Acme on October 31, 2016, was $23.14 per share. Acme had announced on September 30, 2016 that it would disclose its earnings numbers by October 31, 2016. Acme is represented in corporate matters by the “Law Firm, LLP.” “The Accounting Firm, LLP,” audits and reviews Acme’s financial statements. “The Investment Bank Corp.” facilitates capital raises for Acme. FINRA reviewed trading in advance of the Announcement and discovered the following:
1. John Doe, age 47, bought 20,000 shares of Acme on October 20, 2016. Doe opened his brokerage account in 2010 at E*Trade Financial Corp. Based on FINRA’s review of the trading records, has bought or sold Acme stock ahead of each of the previous eight earnings announcements.
2. Jane Smith, age 25, bought 20,000 call options at a strike price of $17.00 per share. The exercise date of the call options is October 15, 2016. The call options expire on November 15, 2016. This means that Smith has the right to buy Acme stock at $17.00 per share (regardless of the actual stock price) between October 15 and November 15, 2016. Smith’s brokerage account is held at Scottrade, Inc. Based on a review of trading records, Smith had not previously purchased Acme’s stock. Questions:
1. What SEC statutory sections and rules might be impacted by this conduct?
2. What statutory sections might be subject to DOJ enforcement?
3. What documents, if any, would you request? a. Generate at least subpoenas for documents: i. To whom would you send each subpoena? ii. List the documents you want (and explain why). 4. What questions would you ask, and of whom? a. Generate at least two outlines containing questions for people from whom you want to gather information.
In: Accounting
How did American values change post-WWI? Give the details information about this.
In: History
What does the term “revolving door” refer to in American politics and why is it considered to be a problem?
In: Economics
The panic of 1857 helped start the American Civil War.
Select one:
True
False
In: Economics
In addition to eliminating slavery the American civil war transformed the nation in multiple way including
In: Economics
Discuss the best elements of the physician's code of medical ethics as articulated by the American Medical Association
In: Nursing
What does the Center for African American Health do and what resources do they provide?
In: Biology
Why is American economy the most successful in the world? Please include references. Thank you
In: Economics