Question 12 pts

(CO 1) A survey of 1272 pre-owned vehicle shoppers found that 8% bought the extended warranties. What is the population and what is the sample?

Group of answer choices

Population: pre-owned vehicle shoppers; Sample: the 8% that bought extended warranties

Population: 1272 pre-owned vehicle shoppers; Sample: the 8% that bought extended warranties

Population: pre-owned vehicle shoppers; Sample: 1272 pre-owned vehicle shoppers

Population: 1272 pre-owned vehicle shoppers; Sample: pre-owned vehicle shoppers

Question 22 pts

(CO 1) A survey of 481 of your customers shows that 79% of them like the recent changes to the product. Is this percentage a parameter or a statistic and why?

Group of answer choices

Parameter as it represents the population

Statistic as it represents the sample

Parameter as it represents the sample

Statistic as it represents the population

Question 32 pts

(CO 1) Classify the data of the number of customers at a restaurant.

Group of answer choices

Quantitative

Qualitative

Statistics

Classical

Question 42 pts

(CO 1) The data set that lists the temperatures in Albany, NY each day in the month of February would be classified as what type of data?

Group of answer choices

Ratio

Interval

Nominal

Ordinal

Question 52 pts

(CO 1) A data set that includes the number of products that were produced within each hour by a company would be classified as what type of data?

Group of answer choices

Ratio

Ordinal

Interval

Nominal

Question 62 pts

(CO 1) What type of data collection might be best to estimate the impact of exercise on longevity?

Group of answer choices

Observational

Experiment

Simulation

Survey

Question 72 pts

(CO 1) What type of data collection might be best to study how voters might decide an upcoming ballot issue?

Group of answer choices

Observational

Simulation

Survey

Experiment

Question 82 pts

(CO 1) You need to study the satisfaction of customers of a specific restaurant. You decide to randomly select a few tables and talk to everyone at those selected tables. This would most closely describe which type of sampling technique?

Group of answer choices

Stratified

Random

Systematic

Cluster

Question 92 pts

(CO 2) Which of the following graphs would be a line graph?

Group of answer choices

a

b

c

d

Question 102 pts

(CO 1) In a normally distributed data set of how long customers stay in your store, the mean is 44.8 minutes and the standard deviation is 2.6 minutes. Within what range would you expect 95% of your customers to stay in your store?

Group of answer choices

37.0-52.6

2.6-44.8

39.6-50.0

42.2-47.4

Question 112 pts

(CO 1) Which of the following graphs would be considered a uniform distribution?

Group of answer choices

a

b

c

d

Question 122 pts

(CO 1) In a normally distributed data set with a mean of 19 and a standard deviation of 2.6, what percentage of the data would be between 13.8 and 24.2?

Group of answer choices

68% based on the Empirical Rule

95% based on the Empirical Rule

68% based on the histogram

95% based on the histogram

Question 132 pts

(CO 1) Which of the following would be the standard deviation for this sample data set: 5, 7, 6, 9, 6, 4, 4, 6, 5, 9, 3?

Group of answer choices

1.94

2.91

1.85

5.82

Question 142 pts

(CO 1) What would be the mean of this data set: 8, 9, 7, 508, 7, 1, 5, 8, 1?

Group of answer choices

61.6

50.8

33.8

5.8

Question 152 pts

(CO 1) A researcher wants to study the effects of playing video games 24-7 for a week. What type of study would be best suited to make this determination?

Group of answer choices

Experimental

Simulation

Survey

Observational

Question 162 pts

(CO 1) To gather information on customer satisfaction, a researcher goes into several stores and interviews randomly selected customers. This sampling technique is called:

Group of answer choices

Convenience

Stratified

Random

Cluster

Question 172 pts

(CO 1) What is the standard deviation and its meaning given this population of customer ages? 45, 76, 30, 22, 24, 40, 63, 66, 27

Group of answer choices

18.1 which means that many of the ages will be within this value of the average age

19.2 which means that many of the ages will be within this value of the average age

19.2 which means that many of the ages will be around the square of this value

18.1 which means that many of the ages will be around this value

Question 182 pts

(CO 1) What is the mode of the following data set?

2, 2, 3, 3, 4, 4, 5, 5, 6, 6, 7, 7, 8, 8

Group of answer choices

no mode

2, 3, 4, 5, 6, 7, and 8

2

2, 4, 5, and 7

1/ Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are summarized below:

ADH recognizes revenue upon completion of the contract.

What is the journal entry in 2018 to record revenue?

Multiple Choice

• Construction in progress	460,000
  Cost of construction	660,000
  Revenue from long-term contracts		1,120,000

• Accounts receivable	1,635,000
  Revenue from long-term contracts		1,635,000

• Construction in progress	1,350,000
  Cost of construction	1,920,000
  Revenue from long-term contracts		3,270,000

• Cost of construction	2,150,000
  Gross profit	1,120,000
  Revenue from long-term contracts		3,270,000

2/ On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,300,000 for $5,000,000. Rigsby appropriately uses the installment sales method of accounting for this transaction. Terms called for a down payment of $440,000 with the balance in two equal annual installments payable on December 15, 2019, and December 15, 2020. Ignore interest charges. Rigsby has a December 31 year-end.

In its December 31, 2018, balance sheet, Rigsby would report:

Multiple Choice

• Installment receivables (net) of $4,560,000.

• Installment receivables (net) of $3,009,600.

• Realized gross profit of $149,600.

• Deferred gross profit of $149,600

3/ Lake Power Sports sells jet skis and other powered recreational equipment. Customers pay one-third of the sales price of a jet ski when they initially purchase the ski, and then pay another one-third each year for the next two years. Because Lake has little information about the ability to collect these receivables, it uses the cost recovery method to recognize revenue on these installment sales. In 2017, Lake began operations and sold jet skis with a total price of $750,000 that cost Lake $375,000. Lake collected $250,000 in 2017, $250,000 in 2018, and $250,000 in 2019 associated with those sales. In 2018, Lake sold jet skis with a total price of $1,200,000 that cost Lake $720,000. Lake collected $400,000 in 2018, $270,000 in 2019, and $270,000 in 2020 associated with those sales. In 2020, Lake also repossessed $260,000 of jet skis that were sold in 2018. Those jet skis had a fair value of $97,500 at the time they were repossessed.

In 2017, Lake would recognize realized gross profit of:

Multiple Choice

• $0.

• $250,000.

• $375,000.

• $125,000.

4/ Indiana Co. began a construction project in 2018 with a contract price of $161 million to be received when the project is completed in 2020. During 2018, Indiana incurred $36 million of costs and estimates an additional $89 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed.

Indiana:

Multiple Choice

• Recognized $72.00 million loss on the project in 2018.

• Recognized $36.00 million loss on the project in 2018.

• Recognized $10.37 million gross profit on the project in 2018.

• Recognized no gross profit or loss on the project in 2018.

In an effort to evaluate different methods of teaching a foreign language, a researcher examined
the performance of students learning Spanish under four different teaching methods. Group 1 learns in a
traditional lecture/lab format; group 2 is taught from a programmed text; group 3 is taught from podcasts; and
group 4 is taught from videos of people and life in Spain. After several weeks of instruction, all students were
given a Spanish quiz; these scores were recorded:
Group 1 Group 2 Group 3 Group 4
17 14 18 27
18 22 27 30
20 16. 24 25
17 15 18 26
16 16 20 32
21 20 22 27
18 18 19 31
15 14 25 28

a. Describe the statistical test to be done.

b. State the null and alternative hypotheses.
c. What is the critical value of the test statistic? What is the decision rule for rejecting Ho?
CV: ______________________ Reject Ho if F ≥ _________________
d. Paste in SPSS output below, circling the observed value of the test statistic. Also show your work for eta2
, and a

Tukey test, if necessary.

e. Write out an APA Style conclusion about the research project, using the context of the study.

General Electric recently conducted a study to evaluate filaments in their industrial high intensity bulbs. Investigators recorded the number of weeks each high-intensity bulb would last before failure for three test filaments (Groups 1, 2, and 3) and the standard filament (Group 4). The results are as follows. Using ? = 0.01,

Group       1          2       3        4

                 15       14     25     28

                 18       18     19     31

                 21       20     22     27

                 16       16     20     32

                 17       15     18     23

                 20       16     24     25

                18         22     27     30

                              14    18     27     

                                      24     25

                                               26

1. Write an appropriate ANOVA hypothesis to test the difference in means of the four groups (null and alternative).
2. Read the data into R or R-studio, run an ANOVA model in R and paste the code used as well as the output here. What is the decision based on the ANOVA test? You need to explain what part of the output led you to the conclusion you made.
3. Continue using R: Use the Tukey method to test all pairwise contrasts. Show the R code, output, and explain the results of all the comparisons in complete sentences while referencing the parts/numbers on the output that support your conclusions.

Construct Albert Retail Co's Pro Forma Income Statement and Balance Sheet for Years 1 to 3 under the following policies:

COGS+SG&A+Depreciation = 60% of Revenue

Dividend Payout = 50%

Current Assets = 40% of Revenue

Net Fixed Assets = 60% of Revenue

Current Liabilities = 70% of Current Assets

Corporate Tax Rate = 21%

Are America's top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at row B, the annual company percentage increase in revenue, versus row A, the CEO's annual percentage salary increase in that same company. Suppose that a random sample of companies yielded the following data:

Do these data indicate that the population mean percentage increase in corporate revenue (row B) is different from the population mean percentage increase in CEO salary? Use a 1% level of significance. Will you use a left tailed, right tailed, or two tailed test?

The industry averages for 2019 that the company refers to as its benchmarks are provided as follows:

Industry Average

Gross profit ratio                                                                          50.11%

Net income to revenue ratio (after tax)                                        22.02%

Return on shareholders’ equity (after tax)                                   35.66%

Current ratio 1.85 : 1

Quick ratio 1.08 : 1

Accounts receivable collection period (in days)                          14.83 days

Company A:

Gross profit ratio                                                                          54%

Net income to revenue ratio (after tax)                                        25.76%

Return on shareholders’ equity (after tax)                                   33.73%

Current ratio                                                                                1.54

Quick ratio                                                                                   0.41

Accounts receivable collection period (in days)                          21.90 days

Use the above ratios of company A performance compare to the industry averages and provide relevant comments under the headings of ‘profitability’ and ‘liquidity.

Are America's top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at row B, the annual company percentage increase in revenue, versus row A, the CEO's annual percentage salary increase in that same company. Suppose that a random sample of companies yielded the following data:

​

Do these data indicate that the population mean percentage increase in corporate revenue (row B) is different from the population mean percentage increase in CEO salary? Assume that the distribution of differences is approximately normal, mound-shaped and symmetric. Use a 5% level of significance. What is the alternate hypothesis?

​

Execu Clean is a 3-month-old start-up enterprise newly established in your area. The company provides dry cleaning, laundry and garment alteration services, with a regular door to door pick-up and delivery service. The company has a production facility as well as qualified drivers and vans. For the time being the production facility is rented and cleaning equipment is leased.

Objectives:

In providing dry cleaning, laundry and garment alteration services the company aims to:

• Establish a sustainable business by the end of the first year of operation
• Have first-year total sales in excess of R 300 000
• Producing net profits

Mission and Vision:

Services are offered with free pick-up and delivery. High quality and convenience will save time and effort for the companies and working customers that we serve.

Keys to Success:

• The business is in the first year of operation, therefore, a comprehensive marketing strategy will be the key to success of the business
• It is important to remember that the customers want high-quality services, they will only use this service if they are entirely satisfied
• Hours of operation must be convenient, and services must be provided timely

Services:

Execu Clean provides services to both industrial and private customers. Customers can sign contracts with Execu Clean to get on-going and scheduled services. Orders are also taken over the phone and via e-mail. The production or operations facility is used for the installation of machines and equipment, washing and cleaning activities, storage of not yet cleaned and cleaned garments, as well as a workplace for garment alterations.

Personnel:

The owner is the director of the business and working part-time. You were employed as the general manager because of your extensive knowledge and experience in the field of business management. The company also has a laundry expert who is in charge of the operation and quality of garment cleaning and a logistics manager in charge of distribution. Two shop workers report to the laundry expert and two drivers report to the logistics manager. The laundry expert and logistics manager reports to you and you report to the owner of the business. A part-time laundry worker and driver are also employed to help out in busy seasons and in case one of the other workers get sick or have other matters to attend to.

Question:

The owner of Execu Clean has requested you to develop a marketing strategy and plan that is consistent with the company’s business strategy. The strategy must be summarised in a formal management report and all research must be based on the area in which you live.

Your report should include the following:

• Executive summary
• Current marketing situation
• Threats and opportunities
• Objectives and issues
• Market and marketing strategies
• Reference list

Tips:

• Ensure that you do marketing research in a specific area familiar to you. "Execu Clean" is a start-up company in your area.
• If you only provide theory as your answer you will lose marks. Your answers must apply to Execu Clean.

21.39) Researchers gave 20 index cards to a waitress at an Italian restaurant in New Jersey. Before delivering the bill to each customer, the waitress randomly selected a card and wrote on the bill the same message that was printed on the index card. 20 of the cards had the message "The weather is supposed to be really good tomorrow. I hope you enjoy the day!" Another 20 cards contained the message "The weather is supposed to be not so good tomorrow. I hope you enjoy the day anyway!" After the customers left, the waitress recorded the amount of the tip (percent of bill) before taxes. Here are the tips for those receiving the good-weather message:

The tips for the 20 customers who received the bad- weather message are

Give a 90 % confidence interval for the difference between the mean percent tips for the two different messages.

Use the conservative approach (Option 2), where df=20-1 or 19.

Do not use software to calculate the interval.

The confidence interval (±±0.01) is from  to