Consider an equation to explain salaries of CEOs in terms of annual firm sales in million dollars, return on equity (roe, measured in percentage points as the unit), and return on the firm's sock (ros, measured in percentage points as the unit):
Asume that the following equation was obtained by OLS:
By how much is salary predicted to increase on average if ros increases by 30 percentage points while all other variables are held constant?
(Please indicate the solution this way: "66" and do not write down the symbol %. Indicate an increase with the number and a decrease with a "-" in front of the number)
In: Economics
In: Computer Science
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data to the right to complete parts (a) through (d) below. |
Percentage Who |
|||
|---|---|---|---|---|
|
Won't Try Sushi (x) |
Don't Approve of Marriage Equality (y) |
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|
Generation |
x |
y |
||
|
Millennials |
46 |
44 |
||
|
Gen X |
49 |
44 |
||
|
Boomers |
58 |
56 |
||
|
Silent/Greatest Generation |
77 |
75 |
||
a. Determine the correlation coefficient between the percentage of people who won't try sushi and the percentage who do not approve of marriage equality.
r = ?
(Do not round until the final answer. Then round to two decimal places as needed.)
b. What explanations can you offer for the correlation coefficient in part (a)? Choose the correct answer below.
A.
Unwillingness to try sushi and disapproval of marriage equality have no correlation.
B.
Unwillingness to try sushi and disapproval of marriage equality have a strong negative correlation.
C.
Unwillingness to try sushi and disapproval of marriage equality have a weak positive correlation.
D.
Unwillingness to try sushi and disapproval of marriage equality have a strong positive correlation.
c. Find the equation of the regression line for the percentage who won't try sushi and the percentage who don't approve of marriage equality.
y = __x+(___)
(Round to two decimal places as needed.)
d. What percentage of people can we anticipate do not approve of marriage equality in a generation where 32%
won't try sushi?About _____ % won't approve of marriage equality.
(Round to the nearest percent as needed.)
In: Statistics and Probability
A random sample of 145 recent donations at a certain blood bank
reveals that 81 were type A blood. Does this suggest that the
actual percentage of type A donations differs from 40%, the
percentage of the population having type A blood? Carry out a test
of the appropriate hypotheses using a significance level of
0.01.
State the appropriate null and alternative hypotheses.
H0: p = 0.40
Ha: p > 0.40
H0: p = 0.40
Ha: p <
0.40 H0: p =
0.40
Ha: p ≠ 0.40 H0:
p ≠ 0.40
Ha: p = 0.40
Calculate the test statistic and determine the P-value.
(Round your test statistic to two decimal places and your
P-value to four decimal places.)
| z | = | |
| P-value | = |
State the conclusion in the problem context.
Reject the null hypothesis. There is not sufficient evidence to conclude that the percentage of type A donations differs from 40%. Do not reject the null hypothesis. There is sufficient evidence to conclude that the percentage of type A donations differs from 40%. Reject the null hypothesis. There is sufficient evidence to conclude that the percentage of type A donations differs from 40%. Do not reject the null hypothesis. There is not sufficient evidence to conclude that the percentage of type A donations differs from 40%.
Would your conclusion have been different if a significance level
of 0.05 had been used?
Yes No
You may need to use the appropriate table in the Appendix of Tables
to answer this question.
In: Statistics and Probability
How profitable are different sectors of the stock market? One way to answer such a question is to examine profit as a percentage of stockholder equity. A random sample of 25 retail stocks such as Toys 'R' Us, Best Buy, and Gap was studied for x1, profit as a percentage of stockholder equity. The result was x1 = 14.8. A random sample of 30 utility (gas and electric) stocks such as Boston Edison, Wisconsin Energy, and Texas Utilities was studied for x2, profit as a percentage of stockholder equity. The result was x2 = 10.0. Assume that σ1 = 4.9 and σ2 = 2.3.
Categorize the problem below according to parameter being estimated, proportion p, mean μ, difference of means μ1 – μ2, or difference of proportions p1 – p2. Then solve the problem.
pμ1 – μ2 p1 – p2μ
(b) Let μ1 represent the population mean profit
as a percentage of stockholder equity for retail stocks, and let
μ2 represent the population mean profit as a
percentage of stockholder equity for utility stocks. Find a 95%
confidence interval for μ1 –
μ2. (Use 1 decimal place.)
| lower limit | |
| upper limit |
(c) Examine the confidence interval and explain what it means in the context of this problem. Does the interval consist of numbers that are all positive? all negative? of different signs? At the 95% level of confidence, does it appear that the profit as a percentage of stockholder equity for retail stocks is higher than that for utility stocks?
In: Statistics and Probability
The owner of
New YorkNew York
Restaurant is disappointed because the restaurant has been averaging
4 comma 0004,000
pizza sales per month, but the restaurant and wait staff can make and serve
5 comma 0005,000
pizzas per month. The variable cost (for example, ingredients) of each pizza is
$ 1.15$1.15.
Monthly fixed costs (for example, depreciation, property taxes, business license, and manager's salary) are
$ 4 comma 000$4,000
per month. The owner wants cost information about different volumes so that some operating decisions can be made.Read the requirements
LOADING...
.
Requirement 1. Use the chart below to provide the owner with the cost information. Then use the completed chart to help you answer the remaining questions. (Enter total variable costs to the nearest dollar. Enter costs per pizza, price per pizza, and profit per pizza to the nearest cent.)
|
Monthly pizza volume. . . . . . . . . . . . |
2,000 |
4,000 |
5,000 |
||
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Total fixed costs. . . . . . . . . . . . . . . |
|||||
|
Total variable costs. . . . . . . . . . . . . . |
|||||
|
Total costs |
|||||
|
Fixed cost per pizza. . . . . . . . . . . . . |
|||||
|
Variable cost per pizza. . . . . . . . . . . |
|||||
|
Average cost per pizza. . . . . . . . . . . |
|||||
|
Selling price per pizza. . . . . . . . . . . . |
$5.75 |
$5.75 |
$5.75 |
||
|
Average profit per pizza. . . . . . . . . . |
Enter any number in the edit fields and then click Check Answer.
|
Clear All |
Check Answer |
Requirements
|
1. |
Use the chart below to provide the owner with the cost information. Then use the completed chart to help you answer the remaining questions. |
|
2. |
From a
cost standpoint, why do companies such as
New YorkNew York Restaurant want to operate near or at full capacity? |
|
3. |
The
owner has been considering ways to increase the sales volume. The
owner thinks that
5 comma 0005,000 pizzas could be sold per month by cutting the selling price per pizza from$ 5.75$5.75 a pizza to$ 5.25$5.25. How much extra profit (above the current level) would be generated if the selling price were to be decreased? (Hint: Find the restaurant's current monthly profit and compare it to the restaurant's projected monthly profit at the new sales price and volume.) |
In: Accounting
National Corporation needs to set a target price for its newly designed product M14–M16. The following data relate to this new product.
| Per Unit | Total | |||||
|---|---|---|---|---|---|---|
| Direct materials | $23 | |||||
| Direct labor | $36 | |||||
| Variable manufacturing overhead | $14 | |||||
| Fixed manufacturing overhead | $1,264,000 | |||||
| Variable selling and administrative expenses | $ 7 | |||||
| Fixed selling and administrative expenses | $ 1,106,000 | |||||
These costs are based on a budgeted volume of 79,000 units produced
and sold each year. National uses cost-plus pricing methods to set
its target selling price. The markup percentage on total unit cost
is 50%.
Compute the total variable cost per unit, total fixed cost per unit, and total cost per unit for M14–M16.
| Variable cost per unit | $enter a dollar amount | ||
|---|---|---|---|
| Fixed cost per unit | enter a dollar amount | ||
| Total cost per unit | $enter a total of the two previous amounts |
eTextbook and Media
Compute the desired ROI per unit for M14–M16.
| Desired ROI | $enter the desired ROI per unit in dollars | per unit |
eTextbook and Media
Compute the target selling price for M14–M16.
| Target selling price per unit | $enter the target selling price per unit in dollars |
eTextbook and Media
Compute variable cost per unit, fixed cost per unit, and total cost per unit assuming that 59,250 M14–M16s are produced and sold during the year.
| Variable cost per unit | $enter a dollar amount | ||
|---|---|---|---|
| Fixed cost per unit | enter a dollar amount | ||
| Total cost per unit | $enter a total of the two previous amounts |
In: Accounting
Speedy Auto Repairs uses a job-order costing system. The company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. Speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output 30,000 Fixed overhead cost $ 405,000 Variable overhead cost per direct labor-hour $ 1.00 Required:
1. Compute the predetermined overhead rate.
2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job: Direct materials $ 619 Direct labor cost $ 113 Direct labor-hours used 4 Compute Mr. Wilkes’ total job cost.
3. If Speedy establishes its selling prices using a markup percentage of 40% of its total job cost, then how much would it have charged Mr. Wilkes?
In: Accounting
Speedy Auto Repairs uses a job-order costing system. The company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. Speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room.
The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates:
| Direct labor-hours required to support estimated output | 28,000 | |
| Fixed overhead cost | $ | 364,000 |
| Variable overhead cost per direct labor-hour | $ | 1.00 |
Required:
1. Compute the predetermined overhead rate.
2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job:
| Direct materials | $ | 777 |
| Direct labor cost | $ | 215 |
| Direct labor-hours used | 2 | |
Compute Mr. Wilkes’ total job cost.
3. If Speedy establishes its selling prices using a markup percentage of 30% of its total job cost, then how much would it have charged Mr. Wilkes?
In: Accounting
SHOW WORK FOR BOTH PROBLEMS PLEASE!!!
1.) The Heating Division of Kobe International produces a heating element that it sells to its customers for $47 per unit. Its variable cost per unit is $30, and its fixed cost per unit is $8. Top management of Kobe International would like the Heating Division to transfer 14,700 heating units to another division within the company at a price of $35. The Heating Division is operating at full capacity. Assume that the units being requested are special high-performance units and that the division's variable cost would be $24 per unit (rather than $30). What is the minimum transfer price that the Heating Division should accept?
Minimum transfer price =
2.) Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $15, direct labor $9, variable manufacturing overhead $10, fixed manufacturing overhead $12, variable selling and administrative expenses $5, and fixed selling and administrative expenses $8. Using a 39% markup percentage on total per unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.)
Target selling price=
In: Accounting