Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.)
r =

Forest City Casino is interest in determining the percentage of their weekend visitors who spend more than $1,000 at their casino. Based on the sample below, establish a 95% confidence interval for the percentage of weekend customers who spend more than $1,000.

BLANK #1: Is this a question involving mean or proportion? ***ANSWER "MEAN" OR "PROPORTION" (WITHOUT THE QUOTATION MARKS)***

BLANK #2: What is the LOW end of the estimate ***ANSWER TO 2 DECIMALS...FINAL ANSWER IN DOLLARS OR PERCENT FORM (CHOOSE THE APPROPRIATE OPTION FOR YOUR QUESTION)...BE SURE TO INCLUDE UNITS WITH ANSWER...IE. EITHER $12.34 OR 12.34%***

BLANK #3: What is the HIGH end of the estimate ***ANSWER TO 2 DECIMALS...FINAL ANSWER IN DOLLARS OR PERCENT FORM (CHOOSE THE APPROPRIATE OPTION FOR YOUR QUESTION)...BE SURE TO INCLUDE UNITS WITH ANSWER...IE. EITHER $12.34 OR 12.34%***

You want to find out the percentage of community college students that own a pet. You decide to email five students in one of your classes and ask them if they own any pets.

(a) What is the population in this example?

(b) What is the sample?

(c) What is the parameter of interest?

(d) Suppose three of the five students tell you they own a pet, while the other two say they do not. i. Is this numerical or categorical data?

Explain your answer. ii. What is the value of the statistic of interest in this survey? Show a calculation.

(e) Have you taken a simple random sample of the population? Explain your answer. (f) Do you think this sample will be representative? Explain your reasoning.

2. You later do a larger survey of 20 community college students. You ask each of the 20 people the question “How many pets do you own?”

Here is the data you collected. 5,2,4,1,0,0,1,3,2,7,6,0,0,1,1,3,2,2,1,5. Make a table that shows the frequency, relative frequency, and cumulative relative frequency of the responses.

3. Draw a histogram of the data from the previous problem, using four class intervals, i.e., using four bars.

Three variables are used to monitor a chemical process. They are X1 percentage impurities, X2 temperature F, and X3 concentration. The initial sample of 14 observations is listed in the following table. (a) Plot the data on a matrix scatter plot and comment on any observed collinearity. (b) Perform principal components analysis in Minitab using the correlation matrix option. Identify the principal components that explain the majority of the variation. Use the first two principal components. Compute the principal components scores of the first two principal components and construct a matrix scatter plot of the z-

scores to determine if the selected principal components appear to be randomly distributed? (c) Create standardized z-scores principal components individuals control chart.

Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.)
r = __________

Dixie Candle Supply makes candles. The sales mix (as a percentage of total dollar sales) of its three product lines is birthday candles 30%, standard tapered candles 60%, and large scented candles 10%. The contribution margin ratio of each candle type is shown below.

Candle Type Contribution Margin Ratio

Birthday 20%

Standard tapered 35%

Large scented 50%

What is the weighted-average contribution margin ratio?
If the company’s fixed costs are $554,880 per year, what is the dollar amount of each type of candle that must be sold to break even?

Under the Consumer Credit Protection Act, what is the maximum percentage that can be deducted from an employee's pay to satisfy a student loan garnishment? What do you think of this law?

A sample of 58 research cotton samples resulted in a sample average percentage elongation of 8.11 and a sample standard deviation of 1.45. Calculate a 95% large-sample CI for the true average percentage elongation μ. (Round your answers to three decimal places.)

Zillmann Company sells goods on credit and estimates bad debts as a percentage of Account receivable, the credit period is 30 days .The Company has three customers following are the details of the Receivables at Dec-31, 2017 from these customers and the respective date when sales were made.

Required:

1. Which approach of recording bad debts is used by company?
2. Prepare aging schedule for Zillmann Company on Dec-31, 2017 in the format given below.

Calculate the estimated amount of bad debt by applying the percentage given in the above table.

4. Record the bad debt expense on Dec-31, 2017, assume allowance for bad debts has a debit balance of

$ 15,000 at this date.

5.    Assume on Mar-15, 2018 Blair, declared bankrupt, Record this default in the books of Zilmann.
6.    Do you think Zilmann can use direct write off approach to record bad debts, Max two lines.

In a service company, a large percentage of overhead costs are company-wide costs. Why does this present a unique challenge for an ABC implementation in a service company, as compared to a manufacturing company?