A company hopes to improve customer satisfaction, setting as a goal no more than 9 % negative comments. A random survey of 320 customers found only 15 with complaints. a) Create a two-sided 95 % confidence interval for the true level of dissatisfaction among customers. b) Does this provide evidence that the company has reached its goal? Using your confidence interval, test an appropriate hypothesis and state your conclusion. a) The 95 % confidence interval for the true level of dissatisfaction among customers is left parenthesis nothing comma nothing right parenthesis . (Round to three decimal places as needed.) b) What are the null and alternative hypotheses? H0: p ▼ equals not equals greater than less than nothing vs. HA: p ▼ equals greater than not equals less than nothing (Type integers or decimals. Do not round.) Use the confidence interval in part a to draw a conclusion. There ▼ is insufficient is sufficient evidence that the true level of dissatisfaction among customers is less than nothing % because nothing is ▼ within the limits above the upper limit below the lower limit of the interval. (Type integers or decimals. Do not round.) Enter your answer in each of the answer boxes.
In: Statistics and Probability
Catena's Marketing COmpany has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 640 additional shares of common stock ($0.10 par value per share were issuues at the end of the year for $2560 in cash (for a total at the end of the year of 850 shares). These effects are included below:
|
Catena's Marketing Company Adjusted Trial Balance End of the Current Year debit |
credit |
|
| cash | 1670 | |
| accounts receivable | 2360 | |
| interest receivable | 190 | |
| prepaid insurance | 1710 | |
| long-term notes receivable | 2820 | |
| equipment | 16300 | |
| accumulated depreciation | 2930 | |
| accounts payable | 2240 | |
| dividends payable | 580 | |
| accrued expenses payable | 3900 | |
| income taxes payable | 2630 | |
| unearned rent revenue | 430 | |
| common stock (850 shares) | 85 | |
| additional paid-in capital | 3595 | |
| retained earnings | 3850 | |
| sales revenue | 37450 | |
| interest revenue | 190 | |
| rent revenue | 710 | |
| wages revenue | 18300 | |
| depreciation expense | 1720 | |
| utilities expense | 340 | |
| insurance expense | 790 | |
| rent expense | 9600 | |
| income tax expense | 2790 | |
| total | 58590 | 58590 |
Catena's Marketing Company
Statement of Stockholders' Equity
For the current year
| common stock | additional paid-in capital | retained earnings | total stockholders' equity | |
| Balance, January 1 | ||||
| Balance, December 31 |
In: Accounting
U1 Review
Define the following terms: assets, liabilities, and equity.
Provide two examples of each of the following terms: assets, liabilities, and equity.
Provide two examples of expenses a business might incur.
Read the items below and indicate whether the account type is
increased with a debt or credit.
_____ a. Asset
_____ b. Liabilities
_____ c. Equity
_____ d. Revenue
_____ e. Expenses
Classify each of the following items as assets (A), liabilities
(L), equity (EQ), revenue (R), or expense (E)
_____ a. Land
_____ b. Owner, capital
_____ c. Fees earned
_____ d. Equipment
_____ e. Telephone bill
_____ f. Accounts payable
_____ g. Unearned revenue
_____ h. Accounts receivable
_____ i. Supplies
_____ j. Rent
Following are the transactions of a new company called Pose-for-Pics.
|
Aug.1 |
Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company. |
|
Aug.1 |
Paid $2,100 for August rent |
|
Aug.5 |
The company purchased office supplies for $880 cash. |
|
Aug.20 |
The company received $3,331 cash in photography fees earned. |
|
Aug.31 |
The company paid $675 cash for August utilities. |
In: Accounting
Arctic Air Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follows:
|
1 |
Price per unit |
$60,000.00 |
|
2 |
Cost of goods sold |
28,000.00 |
|
3 |
Gross profit per unit |
$32,000.00 |
In addition, the company incurs selling and administrative expenses of $226,250. The company wishes to assign these costs to its three major customers, Gough Industries, Breen Inc., and The Martin Group. These expenses are related to three major nonmanufacturing activities: customer service, project bidding, and engineering support. The engineering support is in the form of engineering changes that are placed by the customer to change the design of a product. The budgeted activity costs and activity bases associated with these activities are:
|
1 |
Activity |
Budgeted Activity Cost |
Activity Base |
|
2 |
Customer service |
$31,500.00 |
Number of service requests |
|
3 |
Project bidding |
74,000.00 |
Number of bids |
|
4 |
Engineering support |
120,750.00 |
Number of customer design changes |
|
5 |
Total costs |
$226,250.00 |
Activity-base usage and unit volume information for the three customers is as follows:
|
Gough Industries |
Breen Inc. |
The Martin |
||
|---|---|---|---|---|
|
Group |
Total |
|||
| Number of service requests | 36 | 28 | 116 | 180 |
| Number of bids | 50 | 40 | 95 | 185 |
| Number of customer design changes | 18 | 35 | 108 | 161 |
| Unit volume | 30 | 16 | 4 | 50 |
| Required: | |
| 1. | Determine the activity rates for each of the three nonmanufacturing activity pools. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. |
| 2. | Determine the activity costs allocated to the three customers, using the activity rates in (1). Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. |
| 3. | Construct customer profitability reports for the three customers, dated for the year ended December 31, using the activity costs in (2). The reports should disclose the gross profit and income from operations associated with each customer. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Colons (:) will automatically appear if required. Enter all amounts as positive numbers, except for a negative income from operations. |
| Labels | |
| December 31 | |
| For the Year Ended December 31 | |
| Selling and administrative activities | |
| Amount Descriptions | |
| Breen Inc. | |
| Cost of goods sold | |
| Customer service | |
| Engineering support | |
| Gough Industries | |
| Gross profit | |
| Income from operations | |
| Other income (expense) | |
| Plantwide factory overhead rate | |
| Product cost distortion | |
| Project bidding | |
| Revenues | |
| The Martin Group | |
| Total selling and administrative activities |
1. Determine the activity rates for each of the three nonmanufacturing activity pools. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
|
1 |
per serv. req. |
||
|
2 |
per bid |
||
|
3 |
per design change |
2. Determine the activity costs allocated to the three customers, using the activity rates in (1). Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
|
1 |
Activity Costs |
|
|
2 |
||
|
3 |
||
|
4 |
3. Construct customer profitability reports for the three customers, dated for the year ended December 31, using the activity costs in (2). The reports should disclose the gross profit and income from operations associated with each customer. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Colons (:) will automatically appear if required. Enter all amounts as positive numbers, except for a negative income from operations.
|
Arctic Air Inc. |
|
Customer Profitability Report |
|
1 |
Gough Industries |
Breen Inc. |
The Martin Group |
|
|
2 |
||||
|
3 |
||||
|
4 |
||||
|
5 |
||||
|
6 |
||||
|
7 |
||||
|
8 |
||||
|
9 |
||||
|
10 |
In: Accounting
Case study: Chapter 2- The Environment- Labour Relations textbook
Armand, Bob, and Courtney worked as customer service representatives at a company that managed a toll road. Employees at the company are represented by a union. All three employees worked at the front counter, and their duties included issuing transponders, receiving payments, receiving faxes to provide service to customers, and assisting in the company’s call center when call volumes were high. In order to do their jobs, the customer service representatives on the front counter were required to go to a fax machine in another area of the building and also to escort customers to other areas of the complex several times a day. Security was a concern at the company because of expensive equipment on the premises, client information that was held, and possible hostile customers. The company had a security system in place that required employees to use a swipe card and enter a password to gain entry at various points in the building. The company encountered problems with the misuse and loss of swipe cards. The employer proposed a new biometric scanning system that relied upon the measurement of the right hand when it was placed on a screenArmand, Bob, and Courtney worked as customer service representatives at a company that managed a toll road. Employees at the company are represented by a union. All three employees worked at the front counter, and their duties included issuing transponders, receiving payments, receiving faxes to provide service to customers, and assisting in the company’s call center when call volumes were high. In order to do their jobs, the customer service representatives on the front counter were required to go to a fax machine in another area of the building and also to escort customers to other areas of the complex several times a day. Security was a concern at the company because of expensive equipment on the premises, client information that was held, and possible hostile customers. The company had a security system in place that required employees to use a swipe card and enter a password to gain entry at various points in the building. The company encountered problems with the misuse and loss of swipe cards. The employer proposed a new biometric scanning system that relied upon the measurement of the right hand when it was placed on a screen.
The system would also work with employees swiping a card and entering a password instead of a hand measurement; however, the employer wanted to incorporate the hand scanning as part of the system to facilitate its attendance management program. Scanning devices would be placed at numerous locations in the complex to control and monitor access to various departments. Eight employees who were members of the Pentecostal faith objected to the proposed scanning system because of their religious beliefs. Although the Pentecostal church is not specifically opposed to biometric scanning, the employees felt that the system was counter to their religious beliefs because it would impose “the mark of the beast” upon them as prophesied in the Book of Revelation. The religious objection related to using measurements of portions of the body for the purposes of identification where such measurements have a number associated with them, the number becomes part of a system of numbers, and that system is involved in the ability to earn a living. The concerns are heightened for some individuals when the measurements are derived from the right hand. When the employees objected to the new system, the employer proposed that they use their left hands and also proposed the employees be allowed to wear a glove over their hand. (The system relied upon a hand measurement, not fingerprints.) Five employees were satisfied with the changes proposed by the employer and dropped their objection to the scanning devices. When Armand, Bob, and Courtney continued to refuse to use the new system, the employer proceeded to apply its progressive discipline policy. The employer did not meet with the union or the employees other than through the disciplinary process. The employees were given warnings, formal letters, and subsequently terminated when they refused to take part in the new system.
Questions:
1. Is there any discrimination in this situation? If so, what type of discrimination is involved?
2. What is the obligation of the employer?
3. If this case proceeded to a hearing, explain the outcome you expect.
In: Operations Management
Completely work the problems in Excel, conclusions and answers may be typed in Excel or Word. Then submit the assignment via Canvas to upload the file, so I can grade an electronic version of the homework.
#1 Problem 25 [page 583-584].
The price drivers pay for gasoline often varies a great deal across regions throughout the United States. The following data show the price per gallon for regular gasoline for a random sample of gasoline service stations for three major brands of gasoline (Shell, BP, and Marathon) located in 11 metropolitan areas across the upper Midwest region (OhioGasPrices.com website, March 18, 2012).
|
Metropolitan Area |
Shell |
BP |
Marathon |
|
Akron, OH |
3.77 |
3.83 |
3.78 |
|
Cincinnati, OH |
3.72 |
3.83 |
3.87 |
|
Cleveland, OH |
3.87 |
3.85 |
3.89 |
|
Columbus, OH |
3.76 |
3.77 |
3.79 |
|
Ft. Wayne, IN |
3.83 |
3.84 |
3.87 |
|
Indianapolis, IN |
3.85 |
3.84 |
3.87 |
|
Lansing, MI |
3.93 |
4.04 |
3.99 |
|
Lexington, KY |
3.79 |
3.78 |
3.79 |
|
Louisville, KY |
3.78 |
3.84 |
3.79 |
|
Muncie, IN |
3.81 |
3.84 |
3.83 |
|
Toledo, OH |
3.69 |
3.83 |
3.86 |
Use a= 0.05 to test for any significant difference in the mean price of gasoline for the three brands.
#2 Information regarding the ACT scores of samples of students in four different majors are given below.
|
Student's Major |
|||
|
Management |
Marketing |
Finance |
Accounting |
|
29 |
22 |
29 |
28 |
|
27 |
22 |
27 |
26 |
|
21 |
25 |
27 |
25 |
|
28 |
26 |
28 |
20 |
|
22 |
27 |
24 |
21 |
|
28 |
20 |
20 |
19 |
|
28 |
23 |
20 |
27 |
|
23 |
25 |
30 |
24 |
|
28 |
27 |
29 |
21 |
|
24 |
28 |
23 |
|
|
29 |
27 |
||
|
31 |
27 |
||
|
24 |
|||
At a 5% level of significance, test to determine whether there is a significant difference in the means of the four populations.
#3 Employees of MNM Corporation are about to undergo a retraining program. Management is trying to determine which of three programs is the best. They believe that the effectiveness of the programs may be influenced by gender. A factorial experiment was designed. You are given the following information.
|
Program |
Gender |
|
|
Male |
Female |
|
|
Program 1 |
320 |
380 |
|
240 |
300 |
|
|
Program 2 |
160 |
240 |
|
180 |
210 |
|
|
Program 3 |
240 |
360 |
|
290 |
380 |
|
Test to determine whether there is a significant difference in the means due to program type and gender, and whether significant interaction exists. Use 10% level of significance.
In: Statistics and Probability
CIS- Python
Clunker Motors Inc. is recalling all vehicles in its Extravagant line from model years 1999-2002 as well all vehicles in its Guzzler line from model years 2004-2007. Given variables modelYear and modelName write a statement that assigns True to recalled if the values of modelYear and modelName match the recall details and assigns False otherwise.
In: Computer Science
2. As of July 2004, American Institute for Foreign Study (AIFS) hedge all its costs. Make a case (without any calculations) to CFO, Becky Tabaczynski, that
a) hedging all its costs may not be an optimal strategy for the corporation.
b) an option hedge makes a better choice than forward contracts for hedging. Would Becky Tabaczynski agree with your thought process?
In: Finance
| The Potter Company has 5 segments; information about them is as follows; | |||||||
| total | Harry | Hogswart | Voldomort | Ron | Spiders | ||
| sales to outside parties | 1547 | 121 | 696 | 416 | 314 | 0 | |
| intersegment sales | 421 | 24 | 240 | 39 | 118 | 0 | |
| interest income external | 97 | 60 | 0 | 0 | 0 | 37 | |
| interest income intersegment loans | 147 | 0 | 0 | 0 | 0 | 147 | |
| assets | 3398 | 206 | 1378 | 248 | 326 | 1240 | |
| operating expenses | 1460 | 115 | 818 | 304 | 190 | 33 | |
| expenses intersegment sales | 198 | 70 | 51 | 31 | 46 | 0 | |
| interest expense external | 107 | 0 | 0 | 0 | 0 | 107 | |
| interest expense intersegment loans | 147 | 21 | 71 | 38 | 17 | 0 | |
| income tax expense | 21 | 12 | -41 | 27 | 31 | -8 | |
| general corporate expenses | 55 | ||||||
| unallocated operating costs | 80 | ||||||
| REQUIRED: DETERMINE THE REPORTABLE SEGMENTS BY PERFORMING EACH PERFORMANCE TEST (REVENUE, ASSET, PROFIT/LOSS) | |||||||
| REVENUE TEST | |||||||
| HARRY | REPORTABLE Y/N | ||||||
| HOGSWART | REPORTABLE Y/N | ||||||
| VOLDOMORT | REPORTABLE Y/N | ||||||
| RON | REPORTABLE Y/N | ||||||
| SPIDER | REPORTABLE Y/N | ||||||
| ASSET TEST | |||||||
| HARRY | REPORTABLE Y/N | ||||||
| HOGSWART | REPORTABLE Y/N | ||||||
| VOLDOMORT | REPORTABLE Y/N | ||||||
| RON | REPORTABLE Y/N | ||||||
| SPIDER | REPORTABLE Y/N | ||||||
| PROFIT/LOSS TEST | |||||||
| HARRY | REPORTABLE Y/N | ||||||
| HOGSWART | REPORTABLE Y/N | ||||||
| VOLDOMORT | REPORTABLE Y/N | ||||||
| RON | REPORTABLE Y/N | ||||||
| SPIDER | REPORTABLE Y/N | ||||||
In: Accounting
Compare the financial reports from Disney, Hilton Worldwide, Starwood, Intercontinental, Marriott International, and Marriott Vacations.
Disney Company:
| Report Date | 09/29/2018 | 09/30/2017 | 10/01/2016 | 10/03/2015 | 09/27/2014 |
| Total equity | 52,832,000 | 45,004,000 | 47,323,000 | 48,655,00 | 48,178,000 |
Hilton Worldwide:
| Report Date | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 |
| Total Equity | 558 | 2,075 | 5,849 | 5,951 | 4,714 |
Starwood Hotels:
Key Financials
(In USD as of 06/30/2016)
| Income Statement | |
|---|---|
| Revenue | 5,517m |
| Net Income | 81m |
| EPS from Continuing Operations | 1.84 |
| EPS - Net Income - Diluted | 0.48 |
| Revenue per Share | 32.84 |
| Balance Sheet | |
| Total Assets | 6,922m |
| Total Liabilities | 6,748m |
| Shareholders' Equity | 174m |
| Total Assets per Share | 40.83 |
| Net Assets per Share | 1.03 |
| Cash Flows | |
| Cash from Operations | 740m |
| Cash from Investing | 313m |
| Cash from Financing | -204m |
| Capital Expenditures | 222m |
| Cash Flow per Share | 4.40 |
Marriott International:
| Report Date | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 |
| Total Marriott International, Inc. shareholders' equity (deficit) | 2,225 | 3,731 | 5,357 | (3,590) | (2,200) |
Marriott Vacations:
| Report Date | 12/31/2018 | 12/31/2017 | 12/30/2016 | 01/01/2016 | 01/02/2015 |
| Total Equity | 3,466,000 | 1,045,020 | 907,819 | 976,267 | 1,080,000 |
In: Finance