Contingent Liabilities

Several months ago, Cinnabar Chemical Company experienced a hazardous materials spill at one of its plants. As a result, the Environmental Protection Agency (EPA) fined the company $1,416,000. The company is contesting the fine. In addition, an employee is seeking $342,000 damages related to injuries sustained while cleaning up the spill. Lastly, a homeowner has sued the company for $236,000. The homeowner lives 15 miles from the plant but believes that the incident has reduced the home's resale value by $236,000.

Cinnabar’s legal counsel believes that it is probable that the EPA fine will stand. In addition, counsel indicates that an out-of-court settlement of $213,750 has recently been reached with the employee. The final papers will be signed next week. Counsel believes that the homeowner's case is much weaker and will be decided in favor of Cinnabar. Other litigation related to the spill is possible, but the damage amounts are uncertain.

a. Illustrate the effects of the contingent liabilities associated with the hazardous materials spill on the accounts and financial statements. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts

Simon Inc. is making the daily brownie run across the Chicago metropolitan area. They have seven customers and have identified the driving distance (in miles) between each pairwise combination as shown in the table. One-way streets and various construction projects affect driving distances such that the distance from one to the other may not be same depending on which site is the starting point. Identify the most energy efficient route that begins at Simon Inc. headquarters (Simon) and visits each customer once before returning to headquarters. Show work

You may need to use the appropriate appendix table or technology to answer this question. The port of South Louisiana, located along 54 miles of the Mississippi River between New Orleans and Baton Rouge, is the largest bulk cargo port in the world. The U.S. Army Corps of Engineers reports that the port handles a mean of 4.5 million tons of cargo per week.† Assume that the number of tons of cargo handled per week is normally distributed with a standard deviation of 0.84 million tons.

(a) What is the probability that the port handles less than 5 million tons of cargo per week? (Round your answer to four decimal places.)

(b) What is the probability that the port handles 3 or more million tons of cargo per week? (Round your answer to four decimal places.)

(c) What is the probability that the port handles between 3 million and 4 million tons of cargo per week? (Round your answer to four decimal places.)

(d) Assume that 83% of the time the port can handle the weekly cargo volume without extending operating hours. What is the number of tons of cargo per week that will require the port to extend its operating hours? (Round your answer to one decimal places.) tons of cargo per week

On March 11, 2011, Japan suffered an earthquake and tsunami that caused a disastrous accident at the Fukushima nuclear power plant. Among many other results, amounts of iodine-131 that were 27 times the government limit were found in a sample of spinach 60 miles away.† Now, 27 times the government limit of iodine-131 is 54 thousand becquerels per kilogram.† The following table shows the amount I, in thousands of becquerels per kilogram, of iodine-131 that would remain after t days.

(a)

Show that the data are exponential. (In this part and the next, round to three decimal places.)

Because t increases by 1 each time, to show that the data are exponential, we must show that the successive ratios (rounded to three decimal places) are the same. Because all of the ratios are equal to  , the data are exponential.

(b)

Find an exponential model I that shows the amount of iodine-131 present after t days.

I(t) =

(c)

How long will it take for the amount of iodine-131 to fall to the government limit of 2 thousand becquerels per kilogram? Round your answer to the nearest whole day.

days

The correct answers are highlighted. I would like an explanation for why some are null hypothesis and some are alternative. Thank you.

1.) Suppose that the distance of fly balls hit to the outfield (in baseball) is normally distributed with a mean of 250 feet and a standard deviation of 50 feet. We randomly sample 49 fly balls. Using Excel and the functions show me how you got your answer

1. If¯¯¯¯¯XX¯ = average distance in feet for 49 fly balls, then¯¯¯¯¯XX¯ ~ _______(_______,_______)
2. What is the probability that the 49 balls traveled an average of less than 240 feet? Sketch the graph. Scale the horizontal axis for¯¯¯¯¯XX¯. Shade the region corresponding to the probability. Find the probability. using excel functions
3. Find the 80^th percentile of the distribution of the average of 49 fly balls. using excel functions

2.) Suppose that a category of world-class runners are known to run a marathon (26 miles) in an average of 145 minutes with a standard deviation of 14 minutes. Consider 49 of the races. Let¯¯¯¯¯XX¯ the average of the 49 races. Using Excel and the excel functions for the following questions. Show me how you got your answer

1. ¯¯¯¯¯XX¯ ~ _____(_____,_____)
2. Find the probability that the runner will average between 142 and 146 minutes in these 49 marathons. using excel functions
3. Find the 80^th percentile for the average of these 49 marathons. using excel functions
4. Find the median of the average running times. using excel functions

Scatter Diagrams and High-Low Cost Estimation
From April 1 through October 31, Will County Highway Department hires temporary employees to mow and clean the right-of-way along county roads. The County Road Commissioner has asked you to help her in determining the variable labor cost of mowing and cleaning a mile of road. The following information is available regarding current-year operations:

a. Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs.

b. Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high-low method to develop a cost-estimating equation for monthly labor costs.

d. Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 7 percent increase in wages.

Because movie producers have come under pressure for teaching children incorrect science, you have been appointed to help a committee of concerned parents review a script for a new Superman movie. In the scene under consideration, Superman rushes to save Lois Lane who has been pushed from a window 300 feet above a crowded street. Superman is 0.5 miles away when he hears Lois scream and rushes to save her. He swoops down in the nick of time, arriving when Lois is just 3.0 feet above the street, and stopping her just at ground level. Lois changes her expression from one of horror at her impending doom to a smile of gratitude as she gently floats to the ground in Superman's arms. The committee wants to know if there is really enough time to express this range of emotions, even if there is a possible academy award on the line. The chairman asks you to calculate the time it takes for Superman to stop Lois's fall. To do the calculation, you assume that Superman applies a constant force to Lois in breaking her fall and that she weighs 120 lbs. While thinking about this scene you also wonder if Lois could survive the force that Superman applies to her.

Which of the following are measures of capacity in terms of outputs and inputs produced for the corresponding production system?

Select one:

A. Airline – customers checked out per hour – reservation calls handled per day

B. Supermarket – available seat miles per year – cartons unloaded per hour

C. University – graduates per year – students admitted per year

D. Automobile assembly plant – autos assembled per year –packages delivered per day

In planning the long-term capacity of an operation, one should take into account:

Select one:

A. Bottlenecks

B. Economies of scale

C. Economies of scope

D. Only B and C

When a resource is scheduled as if it had unlimited capacity to handle any and all jobs, its schedule is called

Select one:

A. Bottleneck

B. Infinite loading

C. Finite loading

D. Cycle time

The __________ plan is a preliminary, approximate schedule of an organization’s overall operations that will satisfy the demand forecast at minimum cost.

Select one:

A. Production

B. Rough-cut capacity

C. Long-term

D. Efficiency

E. Aggregate

__________ means deciding which jobs to assign to which work centers.

Select one:

A. Loading

B. Sequencing

C. MRP

D. Facility planning

E. MPS

In each of the projects that follow, you should write a program that contains an introductory docstring. This documentation should describe what the program will do (analysis) and how it will do it (design the program in the form of a pseudocode algorithm). Include suitable prompts for all inputs, and label all outputs appropri- ately. After you have coded a program, be sure to test it with a reasonable set of legitimate inputs.

5 An object’s momentum is its mass multiplied by its velocity. Write a pro- gram that accepts an object’s mass (in kilograms) and velocity (in meters per second) as inputs and then outputs its momentum.

6 The kinetic energy of a moving object is given by the formula KE=(1/2)mv2, where m is the object’s mass and v is its velocity. Modify the program you created in Project 5 so that it prints the object’s kinetic energy as well as its momentum.

Write a program that takes as input a number of kilometers and prints the corresponding number of nautical miles. Use the following approximations:

- A kilometer represents 1/10,000 of the distance between the North Pole and the equator.

- There are 90 degrees, containing 60 minutes of arc each, between the North Pole and the equator.

- A nautical mile is 1 minute of an arc.

*please use IDLE( python 3.7)