The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants across the United States. For 21 restaurants located in a certain city, the average price of a dinner, including one drink and tip, was $48.60. You are leaving on a business trip to this city and will eat dinner at three of these restaurants. Your company will reimburse you for a maximum of $50 per dinner. Business associates familiar with these restaurants have told you that the meal cost at one-third of these restaurants will exceed $50. Suppose that you randomly select three of these restaurants for dinner. (Round your answers to four decimal places.)

(a.) What is the probability that none of the meals will exceed the cost covered by your company?

(b.) What is the probability that one of the meals will exceed the cost covered by your company?

(c.) What is the probability that two of the meals will exceed the cost covered by your company?

(d.) What is the probability that all three of the meals will exceed the cost covered by your company?

You run out of avocados for your daily avocado toast and you need to resupply. However, you are low on funds and decide to search for average prices of avocados. You discover the following prices (in dollars) for a bushel of avocados:

Use the data to complete the information below (round to two decimals when appropriate)

Suppose you found out that the average price of a bushel of avocados in the united states is $8, with a standard deviation of $1.95.   Your neighbor wants to sell you his bushel for $7. Are you getting an extraordinary deal from your neighbor?

To answer this, calculate the z score for your neighbor's price and find the probability of getting a price lower than that.

z =  round to two decimal places

p =  do not round

Pretend that you are an accountant and these following entries are needed to be put in the books. Describe and show how each transaction affects the U.S balance of payment.

1. Put a description of the debit and credit items, and identify which specific account is affected for example - imports of goods and services, IM; exports of assets, EXA; and so on.

2. Show which accounts work in the Balance of Payments, if they increase or decrease, and explain why you choose that specifically for those accounts.

Part a. A medical Institute in S.Korea sends medical aid which is worth $3 million to United States due to COVID-19 crisis.

Part b. A New York art gallery purchases a $1500 worth painting from a museum in Paris-France, paying the funds from a bank account in Paris.

Part c. A U.S. tourist visiting Istanbul-Turkey sells his MacBook to a local resident for worth $3500.

1) The Environmental Protection Agency was created in 1970 to mount a coordinated attack on environmental problems. Its duties primarily include

Multiple Choice

• providing financial assistance to the private sector to find alternative sources of energy.

• assisting state and local pollution control efforts.

• assessing fines against businesses for violating the Environmental Protection Act.

• drafting agreements between the United States and its trading partners concerning the environmental effects of international trade.

2)

The Clean Air Act of 1990 has all but which of the following requirements?

Multiple Choice

• It required tougher auto emission controls.

• It required cleaner-burning gasoline.

• It required new equipment to capture industrial and business pollution.

• It required a 50-percent reduction in all airborne pollutants by 2020.

3)

The Brownfields Act provides liability protection for owners of brownfield sites.

True or False

4)Recycled hazardous materials are not covered by the Resource Conservation and Recovery Act.

TRUE OR FALSE

Chapeau Company, a U.S. corporation, operates through a branch in Champagnia. The source rules used by Champagnia are identical to those used by the United States. For 2019, Chapeau has $2,800 of gross income: $1,680 from U.S. sources and $1,120 from sources within Champagnia. The $1,680 of U.S. source income and $980 of the foreign source income are attributable to manufacturing activities in Champagnia (foreign branch income). The remaining $140 of foreign source income is passive category interest income. Chapeau had $700 of expenses other than taxes, all of which are allocated directly to manufacturing income ($280 of which is apportioned to foreign sources). Chapeau paid $182 of income taxes to Champagnia on its manufacturing income. The interest income was subject to a 10 percent withholding tax of $14.

Compute Chapeau’s total allowable foreign tax credit in 2019. (Do not round any division. Round other intermediate computations to the nearest whole dollar amount.)

Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $128,000. This distribution follows the normal distribution with a standard deviation of $33,000.

If we select a random sample of 66 households, what is the standard error of the mean? (Round your answer to the nearest whole number.)

What is the expected shape of the distribution of the sample mean?

What is the likelihood of selecting a sample with a mean of at least $130,000? (Round your z value to 2 decimal places and final answer to 4 decimal places.)

What is the likelihood of selecting a sample with a mean of more than $120,000? (Round your z value to 2 decimal places and final answer to 4 decimal places.)

Find the likelihood of selecting a sample with a mean of more than $120,000 but less than $130,000. (Round your z value to 2 decimal places and final answer to 4 decimal places.)

The Pew Research Center conducted the Global Attitudes Survey in spring 2017 in multiple countries. In Canada, a random sample of 1,022 adults were surveyed.2 In Russia, a random sample of 1,002 adults were surveyed.3 One question asked was “How closely do you follow news specifically about the United States?”4 The proportion of Canadian adults who said they follow US news closely was 0.78 while the proportion of Russian adults who said they follow US news closely was 0.48. The standard error for Canada was 0.036 and Russia was 0.04.

a. Describe the parameters of interest in context.

b. What are the 95% confidence intervals?

Canada:

Russia:

c. Interpret the 95% confidence intervals.

Canada:

Russia:

d. Do the intervals overlap? What does that tell us about the difference in the proportion of adults who say they follow US news closely for the two different countries?

For each of the following transactions, explain briefly why they would or would not be counted in the GDP of the United States. In your explanation, point out what component(s) or element(s) of GDP change and why. a) German auto producer Daimler AG builds a van factory in South Carolina. b) You buy the latest Samsung Galaxy J2 cell phone produced at a factory in South Korea. c) You baby-sit for your uncle’s children and he gives you $25 for a job well done. d) US auto producer Ford builds a factory in Puebla, Mexico. e) You buy a fresh loaf of bread at your local bakery. f) A Chrysler dealership in Utah has 20 unsold new 2019 model cars at the end of 2019. g) You marry your accountant and (s)he then takes care of your tax returns for free.  

Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is $3.76. You believe that the figure is higher in your area of the country. You decide to test this claim for your part of the United States by randomly calling gasoline stations. Your random survey of 25 stations produces the following prices.

Appendix A Statistical Tables

Assume gasoline prices for a region are normally distributed. Do the data you obtained provide enough evidence to reject the claim? Use a 1% level of significance. (Round the intermediate values to 2 decimal places. Round your answer to 2 decimal places.)

Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $132,000. This distribution follows the normal distribution with a standard deviation of $40,000.

If we select a random sample of 70 households, what is the standard error of the mean? (Round your answer to the nearest whole number.)

What is the expected shape of the distribution of the sample mean?

What is the likelihood of selecting a sample with a mean of at least $139,000? (Round your z value to 2 decimal places and final answer to 4 decimal places.)

What is the likelihood of selecting a sample with a mean of more than $127,000? (Round your z value to 2 decimal places and final answer to 4 decimal places.)

Find the likelihood of selecting a sample with a mean of more than $127,000 but less than $139,000. (Round your z value to 2 decimal places and final answer to 4 decimal places.)