1. If the demand for a good becomes less elastic without any change in the equilibrium price or quantity sold, consumer surplus in that market most likely
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rises. |
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falls. |
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doesn't change, since price and quantity don't change. |
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changes, but in a direction that cannot be determined. |
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none of the above. |
2. Most of the marginal damage from US car travel in metropolitan areas is from
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wear and tear of roads and bridges. |
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pollution. |
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congestion and reduced safety. |
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another source. |
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These marginal damages are all about equal, so none of them is the source of ``most" of the marginal damage. |
3. Most of the marginal damage from US semi truck travel (total travel) is from
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wear and tear of roads and bridges. |
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pollution. |
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congestion and reduced safety. |
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another source. |
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These marginal damages are all about equal, so none of them is the source of ``most" of the marginal damage. |
In: Economics
Women have head circumferences that are normally distributed with a mean given by mu equals 21.21 in., and a standard deviation given by sigma equals 0.6 in. Complete parts a through c below. a. If a hat company produces women's hats so that they fit head circumferences between 20.4 in. and 21.4 in., what is the probability that a randomly selected woman will be able to fit into one of these hats? The probability is nothing. (Round to four decimal places as needed.) b. If the company wants to produce hats to fit all women except for those with the smallest 3.75% and the largest 3.75% head circumferences, what head circumferences should be accommodated? The minimum head circumference accommodated should be nothing in. The maximum head circumference accommodated should be nothing in. (Round to two decimal places as needed.) c. If 16 women are randomly selected, what is the probability that their mean head circumference is between 20.4 in. and 21.4 in.? If this probability is high, does it suggest that an order of 16 hats will very likely fit each of 16 randomly selected women? Why or why not? (Assume that the hat company produces women's hats so that they fit head circumferences between 20.4 in. and 21.4 in.) The probability is nothing. (Round to four decimal places as needed.) If this probability is high, does it suggest that an order of 16 hats will very likely fit each of 16 randomly selected women? Why or why not? A. Yes, the order of 16 hats will very likely fit each of 16 randomly selected women because both 20.4 in. and 21.4 in. lie inside the range found in part (b). B. Yes, the probability that an order of 16 hats will very likely fit each of 16 randomly selected women is 0.8980. C. No, the hats must fit individual women, not the mean from 16 women. If all hats are made to fit head circumferences between 20.4 in. and 21.4 in., the hats won't fit about half of those women. D. No, the hats must fit individual women, not the mean from 16 women. If all hats are made to fit head circumferences between 20.4 in. and 21.4 in., the hats won't fit about 10.20% of those women.
In: Statistics and Probability
Women have head circumferences that are normally distributed with a mean given by mu equals 22.16 in., and a standard deviation given by sigma equals 0.8 in. Complete parts a through c below.
a. If a hat company produces women's hats so that they fit head circumferences between 21.3 in. and 22.3 in., what is the probability that a randomly selected woman will be able to fit into one of these hats? The probability is nothing. (Round to four decimal places as needed.)
b. If the company wants to produce hats to fit all women except for those with the smallest 1.25% and the largest 1.25% head circumferences, what head circumferences should be accommodated?
The minimum head circumference accommodated should be ____in.
The maximum head circumference accommodated should be ____in.
(Round to two decimal places as needed.)
c. If 11 women are randomly selected, what is the probability that their mean head circumference is between 21.3 in. and 22.3 in.? If this probability is high, does it suggest that an order of 11 hats will very likely fit each of 11 randomly selected women? Why or why not? (Assume that the hat company produces women's hats so that they fit head circumferences between 21.3 in. and 22.3 in.) The probability is ____(Round to four decimal places as needed.)
If this probability is high, does it suggest that an order of 11 hats will very likely fit each of 11 randomly selected women? Why or why not?
A.No, the hats must fit individual women, not the mean from 11 women. If all hats are made to fit head circumferences between 21.3 in. and 22.3 in., the hats won't fit about half of those women.
B.No, the hats must fit individual women, not the mean from 11 women. If all hats are made to fit head circumferences between 21.3 in. and 22.3 in., the hats won't fit about 28.12% of those women.
C.Yes, the order of 11 hats will very likely fit each of 11 randomly selected women because both 21.3 in. and 22.3 in. lie inside the range found in part (b).
D.Yes, the probability that an order of 11 hats will very likely fit each of 11 randomly selected women is 0.7188.
In: Statistics and Probability
Women have head circumferences that are normally distributed with a mean given by mu equals 22.16 in., and a standard deviation given by sigma equals 0.8 in. Complete parts a through c below.
a. If a hat company produces women's hats so that they fit head circumferences between 21.3 in. and 22.3 in., what is the probability that a randomly selected woman will be able to fit into one of these hats? The probability is nothing. (Round to four decimal places as needed.)
b. If the company wants to produce hats to fit all women except for those with the smallest 1.25% and the largest 1.25% head circumferences, what head circumferences should be accommodated?
The minimum head circumference accommodated should be ____in.
The maximum head circumference accommodated should be ____in.
(Round to two decimal places as needed.)
c. If 11 women are randomly selected, what is the probability that their mean head circumference is between 21.3 in. and 22.3 in.? If this probability is high, does it suggest that an order of 11 hats will very likely fit each of 11 randomly selected women? Why or why not? (Assume that the hat company produces women's hats so that they fit head circumferences between 21.3 in. and 22.3 in.) The probability is ____(Round to four decimal places as needed.)
If this probability is high, does it suggest that an order of 11 hats will very likely fit each of 11 randomly selected women? Why or why not?
A.No, the hats must fit individual women, not the mean from 11 women. If all hats are made to fit head circumferences between 21.3 in. and 22.3 in., the hats won't fit about half of those women.
B.No, the hats must fit individual women, not the mean from 11 women. If all hats are made to fit head circumferences between 21.3 in. and 22.3 in., the hats won't fit about 28.12% of those women.
C.Yes, the order of 11 hats will very likely fit each of 11 randomly selected women because both 21.3 in. and 22.3 in. lie inside the range found in part (b).
D.Yes, the probability that an order of 11 hats will very likely fit each of 11 randomly selected women is 0.7188.
In: Statistics and Probability
Question 5
On 3 June 2019 Canberra Ltd an Australian based company acquired goods on credit from a supplier in the USA. The goods are shipped free on board (FOB) from Chicago on 3 June 2019. The cost of the goods is USD 500,000 and the debt remains unpaid as at 30 June 2019.
On 3 June 2019, the exchange rate is A$1.00 = USD 0.75.
On 30 June 2019 the exchange rate is A$1.00 = USD 0.95.
Hence, the value of the Australian dollar has increased relative to the US Dollar. Canberra Ltd’s reporting date is 30 June.
Required
In: Accounting
create a mock company , your company must be a merchandiser. But, otherwise can be of any type or form.
Take a minute and think of a merchandiser company you’d like to open.
First, tell us what type of business you are opening. (You may use a previous example or a new one)
Which of the two types of inventory systems do you think your business would use and why? (Periodic or Perpetual)
Pretend you are making a large sale to a customer on credit. Post a description or a visual of a draft sales invoice for this customer. Make sure your sales invoice includes the following items:
Your company information
Date of sale
Your customer’s information
An example product you sell with name, description, price per unit, and number of units sold
Terms of sale including credit terms and shipping charges, with numerical figures for shipping charges
Any contract language necessary to further establish the terms of sale (for example, warranties, limitations on shipping, and returns)
5. How would you maintain controls over the inventory for your company? What measures would you take either from a physical assets standpoint or accounting principle standpoint?
In: Accounting
A company produces refrigerator motors. These engines have a life expectancy of 19.4 years with a standard deviation of 4.8 years. Assume that the service life of the motors is normally distributed.
a) Calculate the probability of an engine operating for less
than 12 years.
Calculate the probability of an engine operating for more than 25
years.
Calculate the probability that the life of an engine is between 10
and 20 years.
In order to promote the sale of their engines, the company wants to issue a guarantee on the engines which means that the customer can replace the engine free of charge if it breaks before a certain time.
b) How many years of warranty can the company expire if they do
not want to replace more than 2.5% of the engines? (That is, the
warranty period should be such that the probability that an
engine's service life is less than the warranty period is
0.025)
The company has a profit of NOK 1200 on a motor that does not fail
before the warranty period, while it has a loss of NOK 4500 (ie a
profit of -4500 kroner) on a motor that fails before the warranty
period. If the company uses the warranty period calculated, what is
the expected profit from the sale of an engine?
Briefly explain what this expected profit in practice tells us.
In: Statistics and Probability
A large direct health and insurance medical provider needed an enterprise information management system to enable enterprise-wide information management and to support the effective use of data for critical cross-functional decision making. In addition, the company needed to resolve issues related to data redundancy, inconsistency, and unnecessary expenditure. The company faced several information challenges: The company data resided in multiple locations, the data were developed for department-specific use, and there was limited enterprise access. Also, data definitions were created by individual departments and were not standardized, and data were being managed by multiple departments within the company.
In: Computer Science
Pennsylvania Company has a monthly gross payroll (paid on the last day of each month) of $516,000, which is subject to unemployment taxes (Federal at 0.8% and State at 5.4%). All earnings are subject to 7.65% FICA tax (combined Social Security and Medicare). Federal income tax withholdings are 25%, and state income tax withholdings are 8% of total earnings.
Assuming no individual employee has reached the maximum limit for Social Security tax or for unemployment tax, which of the following is not true for the month ended January 31?
a) Pennsylvania Company will record a liability for Federal Unemployment Taxes of $4,128.
b) Pennsylvania Company will record a net payroll of $306,246.
c) Pennsylvania Company will record a liability for State Income Taxes of $41,280.
d) Pennsylvania Company will record a total liability for FICA Taxes of $39,474.
In: Accounting
Your company gives everyone who applies to your company a proficiency test. Your boss likes to hire people who fall in the "average" range. They feel that people who score exceptionally high on the test are more likely to leave for a better job, and people who score very low are not productive enough. The average score on the proficiency test is 750 with a variance of 400. Your boss tell you to exclude the top 14% and the bottom 27%of applicants. What range of scores would get an interview?
What is the larger Z? What is the smaller Z? What is μ? What is σ ? What is the larger X? What is the small X? What is your conclusion?
In: Statistics and Probability