Loan defaults are when ________.

customers pay back their loans

customers pay back their loans early

customers do not repay their loans

conspicuous consumption happens

A well-run bank will ________.

assume all borrowers will pay their loans on time

not factor in missing payment into its planning

not factor in risk of foreclosures

assume some borrowers will not repay their loans on time

Credit is

a way to buy futures and options in the open market.

a tool for buying things you cannot afford to pay for all at once.

a way to purchase items smaller amounts over a long period of time.

a way to purchase goods using a debit card.

Which of the following does NOT qualify as "money"?

commodity money

the U.S. dollar

barter

fiat money

Consumers must choose whether they prefer to consume goods, including money, now or in the future. This is known as:

consumer confidence.

intertemporal decision making.

the law of demand.

Which is true about a certificate of deposit (CD)?

It pays a lower interest rate than a savings account.

There is a penalty to withdrawal early.

The time frame to deposit money is variable.

When organizations need money, they often borrow through what main method?

Equity

Assets

Bonds

Liabilities

It has a variable interest rate.

conspicuous consumption.

How much money can a bank loan out, and make money on, of the banks’ newly received deposits?

The bank can loan out only up to the amount of its excess reserves.

Banks only lend out 25% of the deposit made by customers.

The bank can loan out what is equal to the full amount of the new deposits.

The bank can loan out up to the amount of their checkable deposits.

Equilibrium in financial markets occurs at an interest rate where the quantity of loanable funds demanded is

less than the quantity of loanable funds supplied.

greater than the quantity of loanable funds supplied.

Money that has no significant non-monetary value is called

commodity money.

fiat money.

extrinsic value money.

intrinsic value money.

misrepresented by the supply side of the economic model.

equal to the quantity of loanable funds supplied.

what do customers need ? where are the biggest unsatisfied customer needs ? what do customers really want to get done ? where ia demand increaaing ? declining ?

Exhibit: Costco Customers.

Customers at Costco spend an average of $130 per trip (The Wall Street Journal, October 6, 2010). One of Costco’s rivals would like to determine whether Costco's customers spend more per trip. A survey of the receipts of 25 customers found that the sample mean was $135.25. Assume that the population standard deviation of spending is $10.50 and the spending follows a normal distribution (use the significance level 0.07).

Round your solutions for this Exhibit to 4 decimal places.

1. Refer to the Exhibit Costco Customers.

Provide the null and the alternative hypotheses.

Group of answer choices

H0:μ≤130;H1:μ>130H0:μ≤130;H1:μ>130

H0:μ≥130;H1:μ<130H0:μ≥130;H1:μ<130

H0:μ≤135.25;H1:μ>135.25H0:μ≤135.25;H1:μ>135.25

H0:μ=130;H1:μ≠130H0:μ=130;H1:μ≠130

2. Refer to the Exhibit Costco Customers.

Compute the test statistic.

3. Refer to the Exhibit Costco Customers.

Calculate the p-value for the test.

4. Refer to the Exhibit Costco Customers.

State your conclusion for the test using the p-value.

Group of answer choices

p-value < 0.07, so we reject H_o. Therefore, there is enough evidence to conclude that Costco’s customers spend more than $130 per trip.

p-value < 0.07, so we reject H_o. Therefore, there is not enough evidence to conclude that Costco’s customers spend more than $130 per trip.

p-value < 0.07, so we cannot reject H_o. Therefore, there is enough evidence to conclude that Costco’s customers spend more than $130 per trip.

p-value < 0.07, so we cannot reject H_o. Therefore, there is not enough evidence to conclude that Costco’s customers spend more than $130 per trip.

A retail carpet business has primarily residential customers together with a few commercial customers that make large purchases. Usually, the business sells an average of 100 square yards of carpet with a standard deviation of 90 square yards. The distribution of carpet sales is

Select one:

a. right-skewed.

b. left-skewed.

c. skewed, but we can’t tell whether it’s left-skewed or right-skewed

d. approximately symmetric, but not Normal.

e. approximately Normal.

f. There’s no way to tell what shape the distribution has.

g. It doesn't make sense to talk about the shape of this distribution.

Suppose the histogram in FIGURE 3 is the sampling distribution for sample averages from samples of size n = 25 from some population. Which of the following statements would be true if the sample sizes were increased to 150?

Select one:

a. The shape of the distribution would not change.

b. The shape of the distribution would be more bell-shaped.

c. The shape of the distribution would be more skewed.

"95% confident" means...

Select one:

a. if we took many random samples from the population, and computed a 95% confidence interval for each sample, we would expect 95% of the confidence intervals to contain the true parameter.

b. if we took one random sample from the population, we would expect 95% of the people in the sample to have a value within the confidence interval.

c. Both A and B are true

d. Neither A nor B are true

Using the sampling distribution in FIGURE 3, how likely is a sample mean around 76?

Select one:

a. Reasonably likely to occur from a sample of this size

b. Unusual but might occur occasionally

c. Extremely unlikely to ever occur

We have a large collection (5574) of real SMS text messages from cellphone users in 2010. 747 of these messages are classified as "spam", and the rest are not. The word “text” (or “txt”) is contained in 7.01% of legitimate (not spam) messages, and in 38.55% of all spam messages. What is the probability that a message is spam, given that it contains the word “text” (or “txt”)?

Select one:

a. 7.01%

b. 13.40%

c. 38.55%

d. 45.97%

e. 57.56%

f. 84.61%

g. We can't determine this probability.

When a company lets customers buy on credit, the company attracts more customers. Allowing sales on credit is a part of doing business. However, it is not without risk! The result may be attracting some customers who will never pay the amount they owe to the business. When this money is not paid, the business has an uncollectible account which must be written-off. If a business has too many uncollectible accounts, the business suffers and the end result can spell disaster!

There are two methods of writing off uncollectible accounts:

The Allowance Method (recognized by GAAP)

The Direct Write-off Method (not recognized by GAAP)

There are several different allowance methods:

Percentage of Sales Method – also referred to as the Income Statement Method

Percentage of Accounts Receivables Method – also referred to as the Balance Sheet Method

Aging of Receivables Method

The difference between the Percentage of Sales Method and the Percentage of Accounts Receivables Method is how the allowance for doubtful accounts is treated when using the two methods.

Accounts receivable are amounts due from customers for credit sales. For a company selling on credit, it is important to assess both the quality and liquidity of its accounts receivable. The quality of accounts receivable is how likely you are to collect these accounts without any loss. The speed of collection, or how fast these accounts are paid or converted to cash, relates to the liquidity of collection. The accounts receivable turnover measures both the quality and liquidity of accounts receivable. In other words, it measures how likely collections are going to be and the speed of those collections.

Instructions

Imagine you own a business that sells to customers on trade credit. For example, you manufacture luxury soaps and you sell these soaps to boutique stores in your hometown area.

1. How would you manage the collection of receivables?

2. Even with careful planning, sometimes receivables become uncollectible. Which method would you use to write off an uncollectible account? Explain your reasons.

3. What procedures would you put into place to encourage customers to pay their bills on time?

Please answer all of the questions, if you can not answer all of the questions do not reply.

Real estate asset manager performs services for customers and bills the customers. Provide the

journal entry for these transactions?

1. Accounts receivable increase by $5,000; revenues increase by $5,000

Cash increases by $5,000; revenues increase by $5,000.

c. Cash increases by $5,000; accrued liability increase by $5,000.

d. Cash decrease by $5,000; Prepaid Expenses increase by $5,000.

Assignment 2

After several months of planning, Denise Murphy started a property management business for

the for the properties that its owners invest called ABC Property Management (“ABC”). The

following events occurred during its first month:

1. On May 1, Murphy started the firm, investing $3,000 cash and $15,000 of equipment.
2. On May 2, ABC paid $600 cash for furniture for the shop.
3. On May 3, ABC paid $500 cash to rent space in a strip mall for May.
4. On May 4, ABC purchased $1,200 of equipment on credit for the shop (using a long-term note payable).
5. On May 5, ABC opened for business. Cash received from services provided in the first week and a half of business (ended May 15) is $825.
6. On May 15, it provided $100 of property management services on account (invoiced).
7. On May 17, it received a $100 check for services previously rendered on account.
8. On May 17, it paid $125 to an assistant for work during the store opening.
9. Cash received from services provided during the second half of May is $930.
10. On May 31, it paid an $400 installment toward principal on the note payable entered into on May 4.
11. On May 31, it paid $900 cash dividends to Murphy.

1. Prepare journal entries for each of the transactions 1 through 11.

Thirty percent of all customers who enter a store will make a purchase. Suppose 10 customers enter the store, and that they make independent purchasing decisions.

(a) Let X be the number, out of the 10 customers in the store, who will make a purchase. Write the binomial probability density function for this situation.

(b) Use the binomial distribution to calculate the probability exactly 5 customers make a purchase.

(c) Find the probability that 4 or fewer customers make a purchase.

(d) Find the probability that 7 or more customers make a purchase.

Question 1) Some customers have not purchased any products. The store hopes to encourage these customers to buy their products through various discount coupons. For this purpose, the store's management would like to see all details of customers who have never purchased any products.  Use at least one RIGHT JOIN in this query.

Question 2) Some products have never been purchased by any customer. The store's management is considering removing these products from their shelves. They would like to get a list containing the name of vendors and the names of their products that have never been bought by any customer. Use at least one LEFT JOIN in this query.

The script file is given below.

Thank You

CREATE DATABASE salesDB;
USE salesDB;
CREATE TABLE customer (

CUS_CODE INT PRIMARY KEY,
CUS_LNAME VARCHAR(15),
CUS_FNAME VARCHAR(15),
CUS_INITIAL VARCHAR(1),
CUS_AREACODE VARCHAR(3),
CUS_PHONE VARCHAR(8),
CUS_BALANCE DECIMAL(15,3)
);
INSERT INTO customer VALUES('10010','Ramas','Alfred','A','615','844-2573','0');

INSERT INTO customer VALUES('10011','Dunne','Leona','K','713','894-1238','0');

INSERT INTO customer VALUES('10012','Smith','Kathy','W','615','894-2285','345.859985351562');

INSERT INTO customer VALUES('10013','Olowski','Paul','F','615','894-2180','536.75');

INSERT INTO customer VALUES('10014','Orlando','Myron','','615','222-1672','0');

INSERT INTO customer VALUES('10015','O''Brian','Amy','B','713','442-3381','0');

INSERT INTO customer VALUES('10016','Brown','James','G','615','297-1228','221.190002441406');

INSERT INTO customer VALUES('10017','Williams','George','','615','290-2556','768.929992675781');

INSERT INTO customer VALUES('10018','Farriss','Anne','G','713','382-7185','216.550003051758');

INSERT INTO customer VALUES('10019','Smith','Olette','K','615','297-3809','0');

CREATE TABLE vendor
(
V_CODE INT PRIMARY KEY,
V_NAME VARCHAR(15),
V_CONTACT VARCHAR(50),
V_AREACODE VARCHAR(3),
V_PHONE VARCHAR(8),
V_STATE VARCHAR(2),
V_ORDER VARCHAR(1)
);
INSERT INTO vendor
VALUES('21225','Bryson, Inc.','Smithson','615','223-3234','TN','Y');
INSERT INTO vendor
VALUES('21226','SuperLoo, Inc.','Flushing','904','215-8995','FL','N');
INSERT INTO vendor
VALUES('21231','D&E Supply','Singh','615','228-3245','TN','Y');
INSERT INTO vendor
VALUES('21344','Gomez Bros.','Ortega','615','889-2546','KY','N');
INSERT INTO vendor
VALUES('22567','Dome Supply','Smith','901','678-1419','GA','N');
INSERT INTO vendor
VALUES('23119','Randsets Ltd.','Anderson','901','678-3998','GA','Y');
INSERT INTO vendor
VALUES('24004','Brackman Bros.','Browning','615','228-1410','TN','N');
INSERT INTO vendor
VALUES('24288','ORDVA, Inc.','Hakford','615','898-1234','TN','Y');
INSERT INTO vendor
VALUES('25443','B&K, Inc.','Smith','904','227-0093','FL','N');
INSERT INTO vendor
VALUES('25501','Damal Supplies','Smythe','615','890-3529','TN','N');
INSERT INTO vendor
VALUES('25595','Rubicon Systems','Orton','904','456-0092','FL','Y');

/* -- */
CREATE TABLE invoice
(
INV_NUMBER INT PRIMARY KEY,
CUS_CODE INT,
INV_DATE DATETIME,
FOREIGN KEY(CUS_CODE) REFERENCES customer(CUS_CODE)

);
INSERT INTO invoice
VALUES('1001','10014','2016-1-16');
INSERT INTO invoice
VALUES('1002','10011','2016-1-16');
INSERT INTO invoice
VALUES('1003','10012','2016-1-16');
INSERT INTO invoice
VALUES('1004','10011','2016-1-17');
INSERT INTO invoice
VALUES('1005','10018','2016-1-17');
INSERT INTO invoice
VALUES('1006','10014','2016-1-17');
INSERT INTO invoice
VALUES('1007','10015','2016-1-17');
INSERT INTO invoice
VALUES('1008','10011','2016-1-17');

/* -- */
CREATE TABLE product
(
P_CODE VARCHAR(10) PRIMARY KEY,
P_DESCRIPT VARCHAR(35),
P_INDATE DATETIME,
P_QOH INT,
P_MIN INT,
P_PRICE DECIMAL(15,3),
P_DISCOUNT DECIMAL(15,3),
V_CODE INT,
FOREIGN KEY (V_CODE) REFERENCES vendor
(V_CODE)
);
INSERT INTO product
VALUES('11QER/31','Power painter, 15 psi., 3-nozzle','2015-11-3','8','5','109.99','0','25595');
INSERT INTO product
VALUES('13-Q2/P2','7.25-in. pwr. saw blade', '2015-12-13','32','15', '14.99','0.05','21344');
INSERT INTO product
VALUES('14-Q1/L3','9.00-in. pwr. saw blade', '2015-11-13','18','12','17.49','0','21344');
INSERT INTO product
VALUES('1546-QQ2','Hrd. cloth, 1/4-in., 2x50', '2016-1-15','15','8','39.95','0','23119');
INSERT INTO product
VALUES('1558-QW1','Hrd. cloth, 1/2-in., 3x50', '2016-1-15','23','5','43.99','0','23119');
INSERT INTO product
VALUES('2232/QTY','B\&D jigsaw, 12-in. blade', '2015-12-30','8','5','109.92','0.05','24288');
INSERT INTO product
VALUES('2232/QWE','B\&D jigsaw, 8-in. blade', '2015-12-24','6','5','99.87','0.05','24288');
INSERT INTO product
VALUES('2238/QPD','B\&D cordless drill, 1/2-in.', '2016-1-20','12','5','38.95','0.05','25595');
INSERT INTO product
VALUES('23109-HB','Claw hammer', '2016-1-20','23','10','9.95','0.1','21225');
INSERT INTO product
VALUES('23114-AA','Sledge hammer, 12 lb.', '2016-1-2','8','5','14.40','0.05', NULL);
INSERT INTO product
VALUES('54778-2T','Rat-tail file, 1/8-in. fine', '2015-12-15','43','20','4.99','0','21344');
INSERT INTO product
VALUES('89-WRE-Q','Hicut chain saw, 16 in.', '2016-2-7','11','5','256.99','0.05','24288');
INSERT INTO product
VALUES('PVC23DRT','PVC pipe, 3.5-in., 8-ft', '2016-2-20','188','75','5.87','0', NULL);
INSERT INTO product
VALUES('SM-18277','1.25-in. metal screw, 25', '2016-3-1','172','75','6.99','0','21225');
INSERT INTO product
VALUES('SW-23116','2.5-in. wd. screw, 50', '2016-2-24','237','100','8.45','0','21231');
INSERT INTO product
VALUES('WR3/TT3','Steel matting, 4''x8''x1/6", .5" mesh','2016-1-17','18','5','119.95','0.1','25595');

/* -- */
CREATE TABLE line (
INV_NUMBER INT,
line_NUMBER INT,
P_CODE VARCHAR(10),
line_UNITS DECIMAL(8),
line_PRICE DECIMAL(15,3),
PRIMARY KEY(INV_NUMBER, line_NUMBER),
FOREIGN KEY(INV_NUMBER) REFERENCES invoice
(INV_NUMBER),
FOREIGN KEY(P_CODE) REFERENCES product
(P_CODE)
);
INSERT INTO line VALUES('1001','1','13-Q2/P2','1','14.99');
INSERT INTO line VALUES('1001','2','23109-HB','1','9.95');
INSERT INTO line VALUES('1002','1','54778-2T','2','4.99');
INSERT INTO line VALUES('1003','1','2238/QPD','1','38.95');
INSERT INTO line VALUES('1003','2','1546-QQ2','1','39.95');
INSERT INTO line VALUES('1003','3','13-Q2/P2','5','14.99');
INSERT INTO line VALUES('1004','1','54778-2T','3','4.99');
INSERT INTO line VALUES('1004','2','23109-HB','2','9.95');
INSERT INTO line VALUES('1005','1','PVC23DRT','12','5.87');
INSERT INTO line VALUES('1006','1','SM-18277','3','6.99');
INSERT INTO line VALUES('1006','2','2232/QTY','1','109.92');
INSERT INTO line VALUES('1006','3','23109-HB','1','9.95');
INSERT INTO line VALUES('1006','4','89-WRE-Q','1','256.99');
INSERT INTO line VALUES('1007','1','13-Q2/P2','2','14.99');
INSERT INTO line VALUES('1007','2','54778-2T','1','4.99');
INSERT INTO line VALUES('1008','1','PVC23DRT','5','5.87');
INSERT INTO line VALUES('1008','2','WR3/TT3','3','119.95');
INSERT INTO line VALUES('1008','3','23109-HB','1','9.95');

/* -- */
CREATE TABLE emp (
emp_NUM INT PRIMARY KEY,
emp_TITLE VARCHAR(4),
emp_LNAME VARCHAR(15),
emp_FNAME VARCHAR(15),
emp_INITIAL VARCHAR(1),
emp_DOB DATETIME,
emp_HIRE_DATE DATETIME,
emp_AREACODE VARCHAR(3),
emp_PHONE VARCHAR(8),
emp_MGR INT
);
INSERT INTO emp VALUES('100','Mr.','Kolmycz','George','D','1945-6-15','1985-3-15','615','324-5456',NULL);
INSERT INTO emp VALUES('101','Ms.','Lewis','Rhonda','G','1965-3-19','1986-4-25','615','324-4472','100');
INSERT INTO emp VALUES('102','Mr.','VanDam','Rhett','','1958-11-14','1990-12-20','901','675-8993','100');
INSERT INTO emp VALUES('103','Ms.','Jones','Anne','M','1974-10-16','1994-8-28','615','898-3456','100');
INSERT INTO emp VALUES('104','Mr.','Lange','John','P','1971-11-8','1994-10-20','901','504-4430','105');
INSERT INTO emp VALUES('105','Mr.','Williams','Robert','D','1975-3-14','1998-11-8','615','890-3220', NULL);
INSERT INTO emp VALUES('106','Mrs.','Smith','Jeanine','K','1968-2-12','1989-1-5','615','324-7883','105');
INSERT INTO emp VALUES('107','Mr.','Diante','Jorge','D','1974-8-21','1994-7-2','615','890-4567','105');
INSERT INTO emp VALUES('108','Mr.','Wiesenbach','Paul','R','1966-2-14','1992-11-18','615','897-4358',NULL);
INSERT INTO emp VALUES('109','Mr.','Smith','George','K','1961-6-18','1989-4-14','901','504-3339','108');
INSERT INTO emp VALUES('110','Mrs.','Genkazi','Leighla','W','1970-5-19','1990-12-1','901','569-0093','108');
INSERT INTO emp VALUES('111','Mr.','Washington','Rupert','E','1966-1-3','1993-6-21','615','890-4925','105');
INSERT INTO emp VALUES('112','Mr.','Johnson','Edward','E','1961-5-14','1983-12-1','615','898-4387','100');
INSERT INTO emp VALUES('113','Ms.','Smythe','Melanie','P','1970-9-15','1999-5-11','615','324-9006','105');
INSERT INTO emp VALUES('114','Ms.','Brandon','Marie','G','1956-11-2','1979-11-15','901','882-0845','108');
INSERT INTO emp VALUES('115','Mrs.','Saranda','Hermine','R','1972-7-25','1993-4-23','615','324-5505','105');
INSERT INTO emp VALUES('116','Mr.','Smith','George','A','1965-11-8','1988-12-10','615','890-2984','108');

/* -- */
CREATE TABLE employee (
emp_NUM INT PRIMARY KEY,
emp_TITLE VARCHAR(4),
emp_LNAME VARCHAR(15),
emp_FNAME VARCHAR(15),
emp_INITIAL VARCHAR(1),
emp_DOB DATETIME,
emp_HIRE_DATE DATETIME,
emp_YEARS INT,
emp_AREACODE VARCHAR(3),
emp_PHONE VARCHAR(8)
);
INSERT INTO employee VALUES('100','Mr.','Kolmycz','George','D','1942-6-15','1985-3-15','18','615','324-5456');
INSERT INTO employee VALUES('101','Ms.','Lewis','Rhonda','G','1965-3-19','1986-4-25','16','615','324-4472');
INSERT INTO employee VALUES('102','Mr.','VanDam','Rhett','','1958-11-14','1990-12-20','12','901','675-8993');
INSERT INTO employee VALUES('103','Ms.','Jones','Anne','M','1974-10-16','1994-8-28','8','615','898-3456');
INSERT INTO employee VALUES('104','Mr.','Lange','John','P','1971-11-8','1994-10-20','8','901','504-4430');
INSERT INTO employee VALUES('105','Mr.','Williams','Robert','D','1975-3-14','1998-11-8','4','615','890-3220');
INSERT INTO employee VALUES('106','Mrs.','Smith','Jeanine','K','1968-2-12','1989-1-5','14','615','324-7883');
INSERT INTO employee VALUES('107','Mr.','Diante','Jorge','D','1974-8-21','1994-7-2','8','615','890-4567');
INSERT INTO employee VALUES('108','Mr.','Wiesenbach','Paul','R','1966-2-14','1992-11-18','10','615','897-4358');
INSERT INTO employee VALUES('109','Mr.','Smith','George','K','1961-6-18','1989-4-14','13','901','504-3339');
INSERT INTO employee VALUES('110','Mrs.','Genkazi','Leighla','W','1970-5-19','1990-12-1','12','901','569-0093');
INSERT INTO employee VALUES('111','Mr.','Washington','Rupert','E','1966-1-3','1993-6-21','9','615','890-4925');
INSERT INTO employee VALUES('112','Mr.','Johnson','Edward','E','1961-5-14','1983-12-1','19','615','898-4387');
INSERT INTO employee VALUES('113','Ms.','Smythe','Melanie','P','1970-9-15','1999-5-11','3','615','324-9006');
INSERT INTO employee VALUES('114','Ms.','Brandon','Marie','G','1956-11-2','1979-11-15','23','901','882-0845');
INSERT INTO employee VALUES('115','Mrs.','Saranda','Hermine','R','1972-7-25','1993-4-23','9','615','324-5505');
INSERT INTO employee VALUES('116','Mr.','Smith','George','A','1965-11-8','1988-12-10','14','615','890-2984');

Two shops A and B attract two types of customers: price-sensitive customers, who shop at the lower-priced shop, and time-sensitive customers, who shop at whichever shop is on their side of the street. A customer of either type purchases on average 10 goods. Assume there are 800 price-sensitive customers and 500 time-sensitive customers buying goods on any given day. The wholesale price the shop pay per good is $3. For simplicity, assume that they can charge $3.50, $4.00, or $4.50 per good.

a. Complete the matrix depicting each station’s profit given the possible strategy profiles.

b. Are there any dominant strategies or dominated strategies? Explain briefly.

c. Are there any pure-strategy Nash equilibrium? If so, give the strategy profiles and corresponding outcomes.