A survey found that women's heights are normally distributed with mean 63.9in. and standard deviation 3.1 in. The survey also found that men's heights are normally distributed with mean 68.7 in. and standard deviation 3.7 in. Most of the live characters employed at an amusement park have height requirements of a minimum of 57 in. and a maximum of 63in. Complete parts (a) and (b) below.
The percentage of men who meet the height requirement ?
If the heigh requirements are changed to exclude only the tallest 50% of men and the shortest 5% of men what are the new height requirements?
In: Statistics and Probability
Case:
Rent Relief Caravans4Hire Ltd1 provides short-term rental of caravans to tourists for camping holidays throughout Australia. Caravans4Hire Ltd leases several large properties in Adelaide, Perth and Sydney, which it needs to park its caravans when not in use.
Due to border restrictions, travel restrictions, localised lockdowns and Government advice to stay home, Caravans4Hire Ltd has suffered a significant loss of revenue and cash flow. On 1 May 2020 the National Hotel and Tourism Industry Association which is a non-government, not-for-profit industry association. It supports its members, who are businesses operating in the hospitality and tourism industry awarded Caravans4Hire Ltd a grant of $360 000 in total for rent relief for the three months ended 31 July 2020. The grant was received in cash on 1 May 2020. Caravans4Hire Ltd is under no obligation to repay the money received.
REQUIRED
All questions should be answered from the perspective of Caravans4Hire Ltd. The word lengths are a suggestion only, i.e., they are NOT strict word limits for each part.
a) What is the main accounting policy issue(s) that need to be resolved to account for the grant from the National Hotel and Tourism Industry Association? (20%) (part a) 15 – 50 words)
b) i) Identify one principle that is relevant to the accounting policy issue that you identified in part a) by providing a reference for that principle (e.g., AASB XXX, para. zz; or Conceptual Framework, Chapter X, para. x.xx) AND explain why you chose that principle. (20%)
ii) identify another principle that is relevant to the accounting policy issue that you identified in part a) by providing a reference for that principle.(10%) (part b) 50 – 100 words).
c) Describe an accounting policy to account for the grant from the National Hotel and Tourism Industry Association. Do not justify your policy. Just describe it. (50%) (part c) 20 - 80 words)
In: Accounting
Antimony is alloyed with lead to increase the rigidity of
components used in the construction of lead storage
batteries.
2.606 g of a particular metallic alloy, compounded of only Pb and
Sb, can be quantitatively converted into a 3.034-g mixture of the
oxides PbO2 and Sb2O4.
What was the percentage (by mass) of antimony in the alloy?
In: Chemistry
The Business School at State University currently has three parking lots, each containing 155 spaces. Two hundred faculty members have been assigned to each lot. On a peak day, an average of 70% of all lot 1 parking sticker holders show up, an average of 72% of all lot 2 parking sticker holders show up, and an average of 74% of all lot 3 parking sticker holders show up.
a. Given the current situation, estimate the probability that on a peak day, at least one faculty member with a sticker will be unable to find a spot. Assume that the number who show up at each lot is independent of the number who show up at the other two lots. Compare two situations: (1) each person can park only in the lot assigned to him or her, and (2) each person can park in any of the lots (pooling). (Hint: Use the RISKBINOMIAL function.) If needed, round your answer to a whole percentage and if your answer is zero, enter "0".
| No pooling: | % |
| Pooling: | % |
b. Now suppose the numbers of people who show up at the three lots are highly correlated (correlation 0.9). How are the results different from those in part a? If needed, round your answer to a whole percentage.
| No pooling: | % |
| Pooling: |
% |
| NEED HELP WITH PART B |
In: Math
The Bijou Theater shows vintage movies. Customers arrive at the theater line at the rate of 80 per hour. The ticket seller averages 30 seconds per customer, which includes placing validation stamps on customers’ parking lot receipts and punching their frequent watcher cards. (Because of these added services, many customers don’t get in until after the feature has started.)
a. What is the average customer time in the system? (Round your answer to 2 decimal places.)
b. What would be the effect on customer time in the system of having a second ticket taker doing nothing but validations and card punching, thereby cutting the average service time to 20 seconds? (Round your answer to 3 decimal places.)
c. What would be the customer time in the
system if a second window was opened with each server doing all
three tasks? (Use closest λ/µ value . Do not round
intermediate calculations. Round your answer to 3 decimal
places.)
In: Operations Management
The Bijou Theater shows vintage movies. Customers arrive at the theater line at the rate of 100 per hour. The ticket seller averages 30 seconds per customer, which includes placing validation stamps on customers' parking lot receipts and punching their frequent watcher cards. (Because of these added services, many customers don't get in until after the feature has started.)
a. What is the average customer time in the system?
b. What would be the effect on customer time in the system of having a second ticket taker doing nothing but validations and card punching, thereby cutting the average service time to 20 seconds?
c. Would system waiting time be less than you found in(b) if a second window was opened with each server doing all three tasks.
Part C. is the one I need help with the most. Please explain in depth. Thank you!
In: Operations Management
The Bijou Theater shows vintage movies. Customers arrive at the
theater line at the rate of 80 per hour. The ticket seller averages
36 seconds per customer, which includes placing validation stamps
on customers’ parking lot receipts and punching their frequent
watcher cards. (Because of these added services, many customers
don’t get in until after the feature has started.) (Use the Excel
spreadsheet Queue Models.)
a. What is the average customer time in the
system? (Round your answer to 2 decimal
places.)
|
b. What would be the effect on customer time in the system of having a second ticket taker doing nothing but validations and card punching, thereby cutting the average service time to 25 seconds? (Round your answer to 3 decimal places.)
Average time in system ________ minutes
c. What would be the customer time in the system if instead of the change in Part b, a second window was opened with each server doing all three tasks? (Do not round intermediate calculations. Round your answer to 3 decimal places.)
|
d. Would system waiting time which is obtained in part (c) be less than you found in (b)?
Yes
No
In: Operations Management
Is the product or service of the hotel industry standardized or differentiated? Explain. Compared to other industries, is it difficult or easy to enter the hotel industry? Explain. Are there examples of nonprice competition in the hotel industry? Illustrate. Based on the above, would you say that the hotel industry is monopoly, oligopoly, monopolistic competition or perfect competition? Explain.
In: Economics
Thrasher Construction Co. was contracted to construct a building for $975,000. The building is owned by the customer throughout the contract period. The contract provides for progress payments. Thrasher’s accounting year ends 31 December. Work began under the contract on 1 July 20X5, and was completed on 30 September 20X7. Construction activities are summarized below by year:
20X5 Construction costs incurred during the year, $180,000; estimated costs to complete, $630,000; progress billings during the year, $153,000; and collections, $140,000. 20X6 Construction costs incurred during the year, $450,000; estimated costs to complete, $190,000; progress billing during the year, $382,500; and collections, $380,000. 20X7 Construction costs incurred during the year, $195,000. Because the contract was completed, the remaining balance was billed and later collected in full per the contract.
Required: 1. Prepare Thrasher’s journal entries to record these events. Assume that percentage of completion is measured by the ratio of costs incurred to date divided by total estimated construction costs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)
In: Accounting
Refer to the situation described in BE 6–33. Assume that the building was completed during the second year, and construction costs incurred during the second year were $10 million. How much revenue and gross profit or loss will the company recognize in the first and second year if it recognizes revenue upon contract completion?
Data From BE 6-33
A construction company entered into a fixed-price contract to build an office building for $20 million. Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million. The company recognizes revenue over time according to percentage of completion. How much revenue and gross profit or loss will appear in the company’s income statement in the first year of the contract?
In: Accounting