The CSUSM Restaurant just finished its fourth year of operation. Through the great efforts of its manager and staff, this restaurant has become one of the most popular and fastest-growing restaurants in the SD County. The manager has recently decided to improve the capacity planning process of the restaurant. To do so, they need to come up with an effective forecasting procedure to predict the monthly sales of foods for up to a year in advance (12 months). Data file RestaurantCSUSM shows the value of food sales ($100s) for the first four years of operation.Month Sales 1 1331 2 1293 3 1276 4 979 5 1012 6 770 7 798 8 836 9 605 10 715 11 836 12 1133 13 1447 14 1309 15 1359 16 1062 17 1062 18 820 19 864 20 886 21 671 22 715 23 919 24 1265 25 1551 26 1403 27 1458 28 1128 29 1155 30 880 31 913 32 957 33 693 34 814 35 952 36 1293 37 1651 38 1513 39 1558 40 1228 41 1255 42 980 43 1013 44 1015 45 798 46 919 47 1052 48 1394

Suppose that we wish to test a claim that a sequence of sample data was produced in a random manner, and suppose that each data value belongs to one of two categories. Let n1 be the number of elements in the sequence that belong to the first category, n2 be the number of elements in the sequence that belong to the second category, and G be the number of runs in such a sequence.

Answer each of the following questions

(a) The null hypothesis H0 is given by

A. n1=n2
B. The data are in a random order
C. Median=0
D. The data are in an order that is not random
E. β=0
F. ρ=0
G. G=0
H. r=0
I. None of the above.

(b) The null hypothesis H1 is given by

A. n1≠n2
B. ρ≠0
C. β≠0
D. The data are in an order that is not random
E. The data are in a random order
F. G≠0
G. r≠0
H. Median ≠0
I. None of the above.

(c) If α=.05, n1=19, n2=10 and G=16, then the test statistic is

A. z=+2.15097992486021.
B. z=1.79688627814193.
C. z=−1.79688627814193.
D. G=−16.
E. z=−0.0550236217881157.
F. z=0.0550236217881157.
G. z=−0.79688627814193.
H. z=0.79688627814193.
I.  z=−2.15097992486021.
J. G=16.
K. None of the above.

(d) If α=.01, n1=10, n2=19 and G=16, then the test statistic is

A. z=−0.79688627814193.
B. z=2.79688627814193.
C. z=−2.79688627814193.
D. G=−16G=−16.
E. z=1.28688627814193.
F. z=0.79688627814193.
G. z=1.79688627814193.
H. z=−1.28688627814193.
I. G=16.
J.z=−1.79688627814193.
K. None of the above.

1. This table provides information on costs and output per hour of a small business producing t-shirts. Assume these are all the costs of this business. Fill in the table and answer the related question:

2. Suppose the market price of a t-shirt (marginal revenue) is $10. What is the profit maximizing output of this shop? What is the profit?
3. Would you predict entry or exit to happen in this industry in the long run? Write the word entry or exit only.
4. Find the shutdown point and the break-even point of this firm.
5. Now suppose that the price of a t-shirt decreases to $8. What is the profit maximizing level of output now? What is the profit? Should this firm continue producing or should it shut down?Find the shutdown point and the break-even point of this firm.
6. The fixed costs of this firm suddenly increase by $40 per hour. How does this change the initial (price=$10) profit maximizing output? What is the profit now?

You pool together two different marketing surveys to see what the willingness to pay for a product is. Survey one has a mean of $20, with standard deviation of 5, and 45 people were surveyed. Survey two has a mean of 30, with standard deviation of 10, and 50 people were surveyed. The null is no difference. The test-statistic, when computed, is 6.06. Would you reject the null?

Provide a brief description of 7 plus Seven series and the main character of the series.

Question

Suppose you are given a 7 digit number which is a UPC. Prove that if a mistake is made when scanning the number, causing one digit to be read incorrectly, then you will be able to tell that an error has been made.

Extra information.

A number is a Universal Product Code (UPC) if its last digit agrees with the following computations:

• The sum of the odd position digits (not including the last) is M. That is we add the first digit to the third digit to the fifth digit etc.

• The sum of the even position digits (not including the last) is N. •

c = (3M + N)%10.

• If c = 0 then the check digit is 0.

• If c 6= 0, then the check digit is 10 − c.

An example with number 1231242.

1) you add all odd-positioned digits except the last one:

M=1+3+2=6

2) add all even positioned digits, not including the last one:

N=2+1+4=7

3) c=(3M+N)%10=(6*3+7)%10=5

4) the check digit is 10-5=5

So 1231242 is not a UPC.

However, if we change the last digit to be 5, then it will be UPC. That is 1231245 is a UPC

"Business Expenditures and Deductions" Avery has always wanted to own his own business. Last year, he took the leap and opened a pet store in a nearby city. He leases the store. He incurred start-up costs and large inventory costs for buying food in bulk. He had to purchase three large tables and a machine that moves the food to higher shelves for storage. He even hired five people: a groomer, two clerks, a stock person, and a bookkeeper. Unfortunately, his bookkeeper has accounting experience but no tax experience. Now, he is lost. How does he handle the start-up costs? What kinds of assets can he depreciate? What kinds of records should he keep? What changes were implemented in the Tax Cuts and Jobs Act that impacted this area of the tax law?

CP 7–4
Koss Co. Ltd. began operations on January 1, 2018. It had the following
transactions during 2018, 2020, and 2021.
2018 Dec. 31 Estimated uncollectible accounts as $5,000 (calculated
as 2% of sales)
2020 Apr. 15 Wrote off the balance of N. Lang, $700
Aug. 8 Wrote off $3,000 of miscellaneous customer accounts
as uncollectible
Dec. 31 Estimated uncollectible accounts as $4,000 (1½% of
sales)
2021 Mar. 6 Recovered $200 from N. Lang, whose account was
written off in 2020; no further recoveries are expected
Sept. 4 Wrote off as uncollectible $4,000 of miscellaneous
customer accounts
Dec. 31 Estimated uncollectible accounts as $4,500 (1½% of
sales).
CHAPTER SEVEN / Cash and Receivables First US Edition
Required:
1. Prepare journal entries to record the above transactions.
2. Assume that management is considering a switch to the balance
sheet method of calculating the allowance for doubtful accounts.
Under this method, the allowance at the end of 2021 is estimated
to be $2,000. Comment on the discrepancy between the two
methods of estimating allowance for doubtful accounts.

This​ year, Midland Light and Gas​ (ML&G) paid its stockholders an annual dividend of

​$2.50

a share. A major brokerage firm recently put out a report on​ ML&G predicting that the​ company's annual dividends should grow at the rate of

5​%

per year for each of the next seven years and then level off and grow at the rate of

3​%

a year thereafter.

​(Note​:

Use four decimal places for all numbers in your intermediate​ calculations.)a. Use the​ variable-growth DVM and a required rate of return of

8.60​%

to find the maximum price you should be willing to pay for this stock.b. Redo the​ ML&G problem in part ​a, this time assuming that after year​ 7, dividends stop growing altogether​ (for year 8 and​ beyond,

g=0​).

Use all the other information given to find the​ stock's intrinsic value.

c. Contrast your two answers and comment on your findings. How important is growth to this valuation​ model?

a. Using the​ variable-growth DVM and a required rate of return of

8.60​%,

the maximum price you should be willing to pay for the stock is

​$nothing.

​(Round to the nearest​ cent.)

Net Present Value

A project has estimated annual net cash flows of $6,250 for seven years and is estimated to cost $45,000. Assume a minimum acceptable rate of return of 10%. Use the Present Value of an Annuity of $1 at Compound Interest table below.

Determine (a) the net present value of the project and (b) the present value index. If required, use the minus sign to indicate a negative net present value.