Conduct the hypothesis test and provide the test statistic and the critical? value, and state the conclusion.

A company claims that its packages of 100 candies are distributed with the following color? percentages:

13?% red, 22?%? orange, 16?%? yellow, 8?%? brown, 23?% blue, and 18?% green. Use the given sample data to test the claim that the color distribution is as claimed. Use a

0.10 significance level.

The test statistic is ... (Round to two decimal places as needed)

The critical value is ... (Round to three decimal places as needed.)

The P-value is ... (Round to three decimal places as needed.)

State the conclusion.

Do not reject OR Reject H0. There is not OR is sufficient evidence to warrant rejection of the claim that the color distribution is as claimed.

Q No.14
In July 2005, Nasir Jamal started business and completed following transactions

July 1 He deposited Rs. 165,000 cash in a business bank account.(use cash as title)
July 2 Purchased equipment for Rs. 55,000 from ABC Co. paid Rs.20,000 and balance will be paid after three month
July 7 Paid rent for three months Rs. 1500
July 12 Purchase goods on credit from Khan & Co. Rs. 1200
July 17 Paid salaries to staff Rs. 2500
July 20 Paid to Khan &Co.Rs. 700
July 23 Paid insurance Rs. 400
July 27 Nasir withdrew Rs. 1500 cash from the business for personal use

INSTRUCTION
a. Prepare journal entries
b. Post to ledger accounts
c. Prepare trial balance at July 31,2015

Brief Exercise 6-8

NoFly Corporation sells three different models of a mosquito “zapper.” Model A12 sells for $60 and has variable costs of $43. Model B22 sells for $111 and has variable costs of $79. Model C124 sells for $402 and has variable costs of $309. The sales mix of the three models is A12, 60%; B22, 27%; and C124, 13%.

If the company has fixed costs of $225,789, how many units of each model must the company sell in order to break even? (Round Per unit values to 2 decimal palces, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.)

x

Brief Exercise 19-8

NoFly Corporation sells three different models of a mosquito “zapper.” Model A12 sells for $58 and has variable costs of $41. Model B22 sells for $102 and has variable costs of $75. Model C124 sells for $413 and has variable costs of $316. The sales mix of the three models is A12, 58%; B22, 27%; and C124, 15%.

If the company has fixed costs of $208,269, how many units of each model must the company sell in order to break even? (Round Per unit values to 2 decimal palces, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.)

The deduction for a contribution to a retirement plan for an owner of a sole proprietorship is not taken on Schedule C.

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True

False

Question 6

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Assuming Lee owns a dog grooming business, which is a sole proprietorship, and he has net self employment income of $100,000 and he pays SE tax of $16,000 (assumed), the most that he can contribute to a Keogh plan is $25,000.

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Assuming Fred owns a fire arms training business, which is a sole proprietorship, and he has net self employment income of $140,000 and he pays SE tax of $20,000 (assumed), the most that he can contribute to a Keogh plan is $26,000.

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Partnerships can have special allocations in which income is allocated disproportionately to ownership

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A family limited partnership generally separates the value of the business equally between the general partner(s) and the limited partners.

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One of the benefits of a FLP is that transfers of the limited partnership interests can be completed at a substantial valuation discount.

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pediatrician wants to determine the relation that may exist between a​ child's height and head circumference. She randomly selects 5 children and measures their height and head circumference. The data are summarized below. Complete parts​ (a) through​ (f) below. Height​ (inches), x 27 25.5 27.75 25 26.5 Head Circumference​ (inches), y 17.5 17.1 17.6 16.9 17.3 ​(a) Treating height as the explanatory​ variable, x, use technology to determine the estimates of beta 0 and beta 1. beta 0 almost equalsb 0 equals ???????? ​(Round to four decimal places as​ needed.) beta 1almost equalsb 1equals nothing ​(Round to four decimal places as​ needed.) (b) Use technology to compute the standard error of the​ estimate, s Subscript e. s Subscript eequals ????​(Round to four decimal places as​ needed.) ​(c) A normal probability plot suggests that the residuals are normally distributed. Use technology to determine s Subscript b 1. s Subscript b 1equals ??????   ​(Round to four decimal places as​ needed.) ​(d) A normal probability plot suggests that the residuals are normally distributed. Test whether a linear relation exists between height and head circumference at the alphaequals0.01 level of significance. State the null and alternative hypotheses for this test. Choose the correct answer below. A. Upper H 0​: beta 0equals0 Upper H 1​: beta 0not equals0 B. Upper H 0​: beta 0equals0 Upper H 1​: beta 0greater than0 C. Upper H 0​: beta 1equals0 Upper H 1​: beta 1not equals0 Your answer is correct.D. Upper H 0​: beta 1equals0 Upper H 1​: beta 1greater than0 Determine the​ P-value for this hypothesis test. ​P-valueequals ????? ​(Round to three decimal places as​ needed.) What is the conclusion that can be​ drawn? A. Do not reject Upper H 0 and conclude that a linear relation does not exist between a​ child's height and head circumference at the level of significance alphaequals0.01. B. Reject Upper H 0 and conclude that a linear relation does not exist between a​ child's height and head circumference at the level of significance alphaequals0.01. C. Do not reject Upper H 0 and conclude that a linear relation exists between a​ child's height and head circumference at the level of significance alphaequals0.01. D. Reject Upper H 0 and conclude that a linear relation exists between a​ child's height and head circumference at the level of significance alphaequals0.01. ​(e) Use technology to construct a​ 95% confidence interval about the slope of the true​ least-squares regression line. Lower​ bound: ???? Upper​ bound: ????? ​(Round to three decimal places as​ needed.) ​(f) Suppose a child has a height of 26.5 inches. What would be a good guess for the​ child's head​ circumference? A good estimate of the​ child's head circumference would be ???????? ​(Round to two decimal places as​ needed.)

A company sells only one item with a marginal cost of $3 and there is a 50% probability of getting a high value customer who is willing to pay $8 and a 50% probability of getting a low value customer who is willing to pay $5. What is the expected profit? What about the expected profit if it was an auction? What about if it was an auction with three potential customers? What would be the important things to know to be able to compute the expected profit?

Before obtaining insurance in the surplus lines market for an insurance customer, surplus lines intermediaries must do which one of the following?

Select one:

a. Review the insurance application and determine that surplus lines insurance is the best choice

b. Receive the recommendation of three customers that surplus lines insurance is the best insurance available

c. Obtain regulatory approval

d. Conduct a diligent search for admitted lines insurance and determine it is not available

Before obtaining insurance in the surplus lines market for an insurance customer, surplus lines intermediaries must do which one of the following?

Select one:

a. Conduct a diligent search for admitted lines insurance and determine it is not available

b. Obtain regulatory approval

c. Review the insurance application and determine that surplus lines insurance is the best choice

d. Receive the recommendation of three customers that surplus lines insurance is the best insurance available

A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1,300 per month for the next three years and then $2,600 per month for two years after that. If the bank is charging customers 8.25 percent APR, how much would it be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.)