The Aluminum Association reports that the average American uses 56.8 pounds of aluminum in a year. A random sample of 50 households is monitored for one year to determine aluminum usage. If the population standard deviation of annual usage is 12.2 pounds, what is the probability that the sample mean will be each of the following?
Appendix A Statistical Tables
a. More than 58 pounds
b. More than 57 pounds
c. Between 56 and 58 pounds
d. Less than 55 pounds
e. Less than 49 pounds
(Round the values of z to 2 decimal places. Round your
answers to 4 decimal places.)
a. enter the probability that the sample mean will
be more than 58 pounds
b. enter the probability that the sample mean will
be more than 57 pounds
c. enter the probability that the sample mean will
be between 56 and 58 pounds
d. enter the probability that the sample mean will
be less than 55 pounds
e. enter the probability that the sample mean will
be less than 49 pounds
In: Statistics and Probability
Periodic Inventory by Three Methods
The units of an item available for sale during the year were as follows:
| Jan. 1 | Inventory | 1,080 units @ $122 |
| Feb. 17 | Purchase | 1,390 units @ $124 |
| Jul. 21 | Purchase | 1,625 units @ $125 |
| Nov. 23 | Purchase | 1,135 units @ $126 |
There are 1,210 units of the item in the physical inventory at December 31. The periodic inventory system is used. Do not round intermediate calculation and round final answer to nearest whole value.
a. Determine the inventory cost by the
first-in, first-out method.
$ ________
b. Determine the inventory cost by the last-in,
first-out method.
$________
c. Determine the inventory cost by the weighted
average cost method.
$_________
In: Accounting
A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $55 and a standard deviation of $54.
a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $47? (Use .10 level of significance.) State the null and alternative hypotheses.
b. Identify the critical values.
c. Determine the test statistic.
d. Do Not Reject/Reject H0. there is Insufficient/Sufficient evidence that the population mean spent by membership member customer is different from $47.
e. Determine the p-value and interpret its meaning.
In: Statistics and Probability
Markus Company’s common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year’s financial statements:
| Ending Balance |
Beginning Balance |
|||
| Cash | $ | 35,000 | $ | 30,000 |
| Accounts receivable | $ | 60,000 | $ | 50,000 |
| Inventory | $ | 55,000 | $ | 60,000 |
| Current assets | $ | 150,000 | $ | 140,000 |
| Total assets | $ | 450,000 | $ | 460,000 |
| Current liabilities | $ | 60,000 | $ | 40,000 |
| Total liabilities | $ | 130,000 | $ | 120,000 |
| Common stock, $1 par value | $ | 120,000 | $ | 120,000 |
| Total stockholders’ equity | $ | 320,000 | $ | 340,000 |
| Total liabilities and stockholders’ equity | $ | 450,000 | $ | 460,000 |
| This Year | ||
| Sales (all on account) | $ | 700,000 |
| Cost of goods sold | $ | 400,000 |
| Gross margin | $ | 300,000 |
| Net operating income | $ | 140,000 |
| Interest expense | $ | 8,000 |
| Net income | $ | 92,400 |
11. What is the company’s operating cycle? (Round your intermediate and final answer to 2 decimal places.)
In: Accounting
You buy a car for $40,000. You agree to a 6 year loan with a annual interest 6 percent.
a. What is your required monthly payment?
b. What is the total amount interest payment over this period?
C. Show the difference in the total interest payment if the payment was done yearly instead of monthly?
In: Economics
In: Economics
Note: This problem is for the 2019 tax year.
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2017. Alfred and Beulah will file a joint return for 2019. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304.
Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2019. In addition, in January 2019, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788.
Alfred's salary for 2019 is $150,000. He is an executive working for Cherry, Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes.
Beulah recently graduated from law school and is employed by Legal Aid Society, Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives a salary of $42,000 in 2019. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes.
Alfred and Beulah had interest income of $500. Alfred and Beulah receive a $1,900 refund on their 2018 state income taxes. They claimed the standard deduction on their 2018 Federal income tax return. Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2019. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Both spouses had health insurance for all of 2019 and they do not want to contribute to the Presidential Election Campaign.
Required:
Compute the Olds' net tax payable (or refund due) for 2019. Use Form 1040 and Schedule 1 to complete this tax return.
Please answer with 2019 1040 tax form and Schedule 1
In: Accounting
Consider a closed economy in which the population grows at the rate of 1% per year. The per-worker production function is y = 6 * ((K)^0.5), where y is output per worker and k is capital per worker. The depreciation rate of capital d is 14% per year.
a. Households consume 90% of income and save the remaining 10% of income. There is no government. What are the steady-state values of capital per worker, output per worker, consumption per worker, and investment per worker?
b. Suppose that the country wants to increase its steady state value of output per worker. What steady-state value of the capital-labor ratio is needed to double the steady-state value of output per capita? What fraction of income would households have to save to achieve a steady-state level of output per worker that is twice as high as in part (a)?
In: Economics
The existing spot rate of the Singapore dollar is $.62. The one‑year forward rate of the Singapore dollar is $.61. The probability distribution of the future spot rate in one year is forecasted as follows:
Future Spot Rate Probability
$.60 25%
.63 45
.65 30
Assume that one‑year put options on Singapore dollars are available, with an exercise price of $.64 and a premium of $.04 per unit. One‑year call options on Singapore dollars are available with an exercise price of $.61 and a premium of $.02 per unit. Assume the following money market rates:
U.S. Singapore
Deposit rate 6% 5%
Borrowing rate 8 7
In: Accounting
A hypothetical data shows that, in a year, of all the adult population, 20,500,000 were employed, 755,000 were unemployed, 45,000 were workers with part-time jobs looking for full-time jobs, 25,000 were discouraged workers and 8,500,000 were not in the labor force.
In: Economics