Men's heights are normally distributed with mean 68.9 in and standard deviation of 2.8 in. Women's heights are normally distributed with mean 63.6 in and standard deviation of 2.5 in. The standard doorway height is 80 in. a. What percentage of men are too tall to fit through a standard doorway without bending, and what percentage of women are too tall to fit through a standard doorway without bending? b. If a statistician designs a house so that all of the doorways have heights that are sufficient for all men except the tallest 5%, what doorway height would be used?
A. The percentage of men who are too tall to fit through a standard door without bending is _____ %. (Round two decimal places)
B. The percentage of women who are too tall to fit through a standard door without bending is ______ %. (ROund two decimals)
C. The statistician would design a house with doorway height ____ in. (round to nearest 10th).
In: Statistics and Probability
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: B: Percent for company 2 5 29 8 21 14 13 12 A: Percent for CEO -1 5 21 13 12 18 9 8 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? Select one: a. two tailed test b. right tailed test c. left tailed test
In: Statistics and Probability
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:
B: Percent for company 28 16 25 26 18 20 7 10
A: Percent for CEO 23 14 23 18 23 10 4 14
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 5% level of significance. Find (or estimate) the P-value.
Select one:
a. P-value = 0.50
b. P-value = 0.40
c. 0.02 < P-value < 0.05
d. 0.20 < P-value < 0.40
e. 0.01 < P-value < 0.02
In: Math
A political pollster is conducting an analysis of sample results in order to make predictions on election night. Assuming a two-candidate election, if a specific candidate receives at least 55% of the vote in the sample, that candidate will be forecast as the winner of the election. You select a random sample of 100 voters. Complete parts (a) through (c) below.
a. What is the probability that a candidate will be forecast as the winner when the population percentage of her vote is 50.1%? The probability is nothing that a candidate will be forecast as the winner when the population percentage of her vote is 50.1%. (Round to four decimal places as needed.)
b.
| What is the probability that a candidate will be forecast as
the winner when the population percentage of her vote is
55%? |
c.
| What is the probability that a candidate will be forecast as
the winner when the population percentage of her vote is
49% (and she will actually lose the election)? |
d.
| Suppose that the sample size was increased to
400. Repeat process (a) through (c), using this new sample size. Comment on the difference. |
In: Math
in java
Write a class named “Stock” to model a stock. The properties and
methods of the class are shown in figure below. The method “
percentage ” computes the percentage of the change of the current
price vs the previous closing price. Write a program to test the
“Stock” class. In the program, create a Stock object with the stock
symbol SUND, name Sun Microsystem V, previous closing price of 100.
Set a new current price randomly and display the price
percentage.
Stock
private String symbol
private String name
private double previousClosingPrice
private double currentPrice
public Stock()
public Stock(String symbol, String name)
public String getSymbol()
public String getName()
public double getPreviousClosingPrice()
public double getCurrentPrice()
public void setSymbol(String symbol)
public void setName(String name)
public void setPreviousClosingPrice(double price)
public void setCurrentPrice(double price)
public double percentage()
In: Computer Science
|
Ghost, Inc., has no debt outstanding and a total market value of $450,000. Earnings before interest and taxes, EBIT, are projected to be $57,000 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 16 percent higher. If there is a recession, then EBIT will be 24 percent lower. The company is considering a $215,000 debt issue with an interest rate of 8 percent. The proceeds will be used to repurchase shares of stock. There are currently 9,000 shares outstanding. Ignore taxes for questions a and b. Assume the company has a market-to-book ratio of 1.0 and the stock price remains constant. |
| a-1. |
Calculate return on equity (ROE) under each of the three economic scenarios before any debt is issued. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| a-2. | Calculate the percentage changes in ROE when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| b-1. | Assume the firm goes through with the proposed recapitalization. Calculate the return on equity (ROE) under each of the three economic scenarios. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| b-2. | Assume the firm goes through with the proposed recapitalization. Calculate the percentage changes in ROE when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| -1. | Recession ROE | % | |
| Normal ROE | % | ||
| Expansion ROE | % | ||
| a-2. | Recession percentage change in ROE | % | |
| Expansion percentage change in ROE | % | ||
| b-1. | Recession ROE | % | |
| Normal ROE | % | ||
| Expansion ROE | % | ||
| b-2. | Recession percentage change in ROE | % | |
| Expansion percentage change in ROE | % |
| Assume the firm has a tax rate of 25 percent. |
| c-1. | Calculate return on equity (ROE) under each of the three economic scenarios before any debt is issued. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| c-2. | Calculate the percentage changes in ROE when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| c-3. | Calculate the return on equity (ROE) under each of the three economic scenarios assuming the firm goes through with the recapitalization. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| c-4. | Given the recapitalization, calculate the percentage changes in ROE when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
|
|||||||||||||||||||||||||||||||||||||||||||||
In: Finance
Derby Company produces baseball gloves and cricket gloves. It has two departments that process all products. During July, the beginning Work-in-Process in the Cutting department was half completed as to conversion, and fully complete as to direct materials. The beginning inventory included $40,000 for materials and $60,000 for conversion costs. Ending work-in-process inventory in the Cutting department was 40% complete. Direct materials are added at the beginning of the process.
Beginning Work-in-Process in the Finishing department was 80% complete as to conversion. Direct materials for Finishing the units are added near the end of the process and conversion costs are added evenly throughout. Beginning inventories included $28,000 for transferred-in costs and $32,000 for conversion costs. Ending inventory was 30% complete. Additional information about the two departments is in the table below:
|
Cutting |
Finishing |
|
|
Beginning work-in-process units |
20,000 |
26,000 |
|
Units started this period |
60,000 |
|
|
Units transferred this period |
66,000 |
|
|
Ending work-in-process units |
20,000 |
|
|
Material costs added |
$48,000 |
$38,000 |
|
Conversion costs |
$28,000 |
$69,500 |
|
Transferred-out cost |
$130,000 |
Required:
Prepare a production cost worksheet, using WEIGHTED AVERAGE for the finishing department. Round to two decimal places in calculations
Prepare the journal entry to recognise COGM for the period transferred out of the Finishing Department.
Explain the effect on the asset account Finished Goods, in periods of rising prices if using a FIFO method of process costing versus WEIGHTED average method of process costing and there are ending inventories. (1 Mark) What is a benefit that
In: Accounting
Western Trading Company is a sole proprietorship engaged in the grain brokerage business. On December 31, 20X0, the entire grain inventory of the company was stored in outside bonded warehouses. The company's procedure of pricing inventories in these warehouses includes comparing the actual cost of each commodity in inventory with the market price as reported for transactions on the commodity exchanges at December 31. A write-down is made on commodities in which cost is in excess of market. During the course of the 20X0 audit, the auditors verified the company's computations. In addition to this, they compared the book value of the inventory with market prices at February 15, 20X1, the last day of fieldwork. The auditors noted that the market prices of several of the commodities had declined sharply subsequent to year-end, until their market price was significantly below the commodities' book values.
The inventory was repriced by the auditors on the basis of the new market prices, and the book value of the inventory was found to be in excess of market value on February 15 by approximately $21,000. The auditors proposed that the inventories be written down by $17,000 to this new market value, net of gains on the subsequent sales. The management protested this suggestion, stating that in their opinion the market decline was only temporary and that prices would recover in the near future. They refused to allow the write-down to be made. Accordingly, the auditors qualified their audit opinion for a departure from generally accepted accounting principles.
Required:
In: Accounting
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs:
|
Fixed Cost |
Cost per |
||||||
|
Cleaning supplies |
$ |
0.50 |
|||||
|
Electricity |
$ |
1,400 |
$ |
0.08 |
|||
|
Maintenance |
$ |
0.15 |
|||||
|
Wages and salaries |
$ |
4,500 |
$ |
0.30 |
|||
|
Depreciation |
$ |
8,400 |
|||||
|
Rent |
$ |
1,800 |
|||||
|
Administrative expenses |
$ |
1,700 |
$ |
0.01 |
|||
For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.30 per car washed.
The actual operating results for August appear below.
|
Lavage Rapide |
||
|
Income Statement |
||
|
For the Month Ended August 31 |
||
|
Actual cars washed |
8,400 |
|
|
Revenue |
$ |
54,390 |
|
Expenses: |
||
|
Cleaning supplies |
4,650 |
|
|
Electricity |
2,034 |
|
|
Maintenance |
1,485 |
|
|
Wages and salaries |
7,350 |
|
|
Depreciation |
8,400 |
|
|
Rent |
2,000 |
|
|
Administrative expenses |
1,683 |
|
|
Total expense |
27,602 |
|
|
Net operating income |
$ |
26,788 |
Required:
Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
|
Lavage Rapide |
||
|
Revenue and Spending Variances |
||
|
For the Month Ended August 31 |
||
|
Revenue |
||
|
Expenses: |
||
|
Cleaning supplies |
||
|
Electricity |
||
|
Maintenance |
||
|
Wages and salaries |
||
|
Depreciation |
||
|
Rent |
||
|
Administrative expenses |
||
|
Total expense |
||
|
Net operating income |
||
In: Accounting
Suppose there are two suppliers of distilled water, labeled firm A and firm B. Distilled water is considered to be a homogenous good (well, all water tastes the same, anyway). Let p denote the price per gallon, qA quantity sold by firm A, and qB the quantity sold by firm B. Firm A is located nearby a spring and therefore bears a production cost of cA = $1 per one gallon of water. Firm B is not located near a spring, and thus bears a cost of cB = $2 per gallon. The inverse demand function for distilled water is given by p = 120 – 0.5 Q = 120 – 0.5 (qA + qB) ; where Q = qA +qB denotes the aggregate industry supply of distilled water.
Solve the following problems:
(i) Formulate the profit-maximization problem of firm A.
(ii) Solve for firm A's best-response function, qA = RA (qB).
(iii) Formulate the profit-maximization problem of firm B.
(iv) Solve for firm B's best-response function, qB = RB(qA).
(v) Draw the two best-response functions. Denote the vertical axis by qA, and the horizontal axis by qB.
(vi) Solve for the Cournot equilibrium output levels ???? ?? and ???? ?? . State which firm sells more water and why.
(vii) Solve for the aggregate industry supply and the equilibrium price of distilled water.
(viii) Solve for the profit level made by each firm, and for the aggregate industry profit. Which firm earns a higher profit and why?
In: Economics