Santana Rey created Business Solutions on October 1, 2020. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2020. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts.

In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10, n/30, FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119, 413, 414, 415, and 502) are added to its general ledger to accommodate the company’s new merchandising activities. Its transactions for January through March follow.

The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation.

1. The March 31 amount of computer supplies still available totals $2,095.
2. Prepaid Insurance coverage of $699 expired during this three-month period.
3. Lyn Addie has not been paid for seven days of work at the rate of $155 per day.
4. Prepaid rent of $2,655 expired during this three-month period.
5. Depreciation on the computer equipment for January 1 through March 31 is $1,090.
6. Depreciation on the office equipment for January 1 through March 31 is $210.
7. The March 31 amount of merchandise inventory still available totals $574.

(Use Excel) The quality manager believes there may be a relationship between the experience level of an inspector and whether a product passes or fails inspection. Inspection records were reviewed for 628 units of a particular product, and the number of units which passed and failed inspection was determined based on three inspector experience levels. The results are shown in the following table. Decision Experience Level Low (under 2 years) Medium (2-8 years) High (over 8 years) Pass 152 286 102 Fail 15 46 27 a. Specify the competing hypotheses to determine whether the inspector pass/fail decision depends on experience level. H0: Inspector pass/fail decision and experience level are independent; HA: Inspector pass/fail decision and experience level are dependent. H0: Inspector pass/fail decision and experience level are dependent; HA: Inspector pass/fail decision and experience level are independent. b. Calculate the value of the test statistic. (Round the intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.) Test statistic c. Approximate the p-value. 0.025 Picture p-value < 0.05 0.05 Picture p-value < 0.10 0.01 Picture p-value < 0.025 p-value Picture 0.10 p-value < 0.01 d-1. At the 10% significance level, what is your conclusion? H0. At the 10% significance level, we conclude that inspection pass/fail and experience are dependent. d-2. Does your conclusion change at the 5% significance level? No Yes

The following task does not involve writing program code: instead, you will be writing function signatures for hypothetical functions (you will be defining functions in subsequent tasks).

1. For this task, you are presented with several 'hypothetical' functions. These aren't built-in Python functions: they are functions that you will have to define (i.e. implement, write) yourself later. however, you only need to write a signature for each hypothetical function listed here:
   1. toThePower(): takes two numbers e.g. x and y , and returns the value of (x to the power y). For example, toThePower(3,3) returns 27, and toThePower(-0.1,3) returns -0.001.
   2. quadruplicate(): takes a string, and returns a string consisting of three copies of that string concatenated together. For example, quadruplicate("na") returns "nananana", and quadruplicate("..?") returns "..?..?..?..?".
   3. subtract(): takes two numbers, and returns the difference between them. For example, subtract(10,3) returns 7, and subtract(2.2,5) returns -2.8.
   4. overlap(): We are not going to tell you exactly what it does, but we will give you a few examples: overlap("banana","analyze") returns 3 (not 4), overlap("abracadabra","abraham") returns 4 (not 5), overlap("foobar","red") returns 1, and overlap("foobar","bazinga") returns 0.
   5. multiplicate(): We are not going to tell you exactly what it does, but we will give you a few examples: multiplicate("x",5) returns "xxxxx", multiplicate("goo",3) returns "googoogoo", and multiplicate("never",0) returns "" (the empty string).

El Paso Water Utilities (EPWU) purchases surface water for treatment and distribution to EPWU customers from El Paso County Water Improvement District during the irrigation season. A new contract between the two entities resulted in a reduction in future price increases in the cost of the water from 10% per year to 5% per year for the next 20 years. If the cost of water next year (which is year 1 of the new contract) will be $530 per acre-ft. using an interest rate of 10% per year,

a) Determine the difference between present worth (in $/acre-ft) of the old and the new contracts (solve using both formula and spreadsheet functions).

b) If new contract also needs a future payment of $2,000 at year 20, what is the equivalent annual worth of the new contract? (solve using both table values and spreadsheet functions)

HORIZON, a national TV provider, reports that today’s typical digital cable customer pays about $75 which is the population mean per month. A customer group decides to sample ten customers of HORIZON to determine if the company’s information is correct. The following list represents the consumer group’s sample data.

Monthly digital cable bill (data measured in dollars)

89, 112, 69, 75, 88, 115, 175, 70, 65, 79

1. a) Calculate the sample mean, median, mode and range to the nearest whole number.
2. b) Calculate the difference between the sample mean monthly cable bill and HORIZON’s population mean.
3. c) The consumer group decides to dispute the HORIZON statement if the difference between the sample mean and population mean is greater than 15 dollars. Does the consumer group have reason to dispute HORIZON’s report? Explain?

HORIZON, a national TV provider, reports that today’s typical digital cable customer pays about $75 which is the population mean per month. A customer group decides to sample ten customers of HORIZON to determine if the company’s information is correct. The following list represents the consumer group’s sample data. Monthly digital cable bill (data measured in dollars) 89, 112, 69, 75, 88, 115, 175, 70, 65, 79

a) Calculate the sample mean, median, mode and range to the nearest whole number.

b) Calculate the difference between the sample mean monthly cable bill and HORIZON’s population mean.

c) The consumer group decides to dispute the HORIZON statement if the difference between the sample mean and population mean is greater than 15 dollars. Does the consumer group have reason to dispute HORIZON’s report? Explain?

1. The length of incoming calls at the call center of a major telecommunication service provider follows a Normal distribution with an average of 7.5 minutes. If the standard deviation of the distribution is 5 minutes, answer the following questions: (8 points)
   
   1. What is the probability that the length of an incoming call is longer than 9.5 minutes?
   2. What is the probability that the length of an incoming call is shorter than 6 minutes?
   3. What is the probability that the length of an incoming call is between 6.5 to 25 minutes?
   4. 25% of the incoming calls is longer than how many minutes?
      
2. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 1.5 minutes. (4 points)
   
   1. What is the probability that it takes more than 2 minutes to service a customer at the drive-through lane?
   2. What percent of customers at the drive-through lane will take between 1 to 2 minutes to service?

Suppose a retailer claims that the average wait time for a customer on its support line is 173 seconds. A random sample of 56 customers had an average wait time of 164 seconds. Assume the population standard deviation for wait time is 50 seconds. Using a 95​% confidence​ interval, does this sample support the​ retailer's claim?

Using a 95​% confidence​ interval, does this sample support the​ retailer's claim? Select the correct choice​ below, and fill in the answer boxes to complete your choice. ​(Round to two decimal places as​ needed.)

A. No​, because the​ retailer's claim is not between the lower limit of nothing seconds and the upper limit of nothing seconds for the mean wait time.

B. Yes​, because the​ retailer's claim is nothing between the lower limit of nothing seconds and the upper limit of nothing seconds for the mean wait time.

3. The percentage discount offered by suppliers if the customer or buyer pays early is known as the _____________discount.

4. The average length of time between the point in which a firm originally receives its inventory and the point at which it receives the cash from selling its product(s) is known as the __________cycle. Meaning of Cash Cycle is the average length of time between when a firm originally purchases its inventory and when it receives the cash back from selling its product.

17. The number of days a buyer has to take advantage of the cash discount provided by its suppliers is known as the ____________period.

18. A measure of the cash cycle calculated as the sum of a firm's inventory days and accounts receivable days, minus its accounts payable days is known as the ____________ cycle.

35. The total length of time during which suppliers extend credit to their customers (or buyers) is know as the ___________period.

For each problem, perform the following steps. Assume that all variables are normally or approximately normally distributed.

1. State the hypothesis and identify the claim.

2. Find the critical value(s).

3. Compute the test value.

4. Make the decision.

5. Summarize the results.

4. According to the 2005-2006 National Pet Owners Survey, only 16% of pet dogs were adopted from an animal shelter and 15% of pet cats were adopted. To test this difference in proportions of adopted pets, a survey was taken in a local region. Is there sufficient evidence to conclude that there is a difference in proportions? Use α = 0.05. [4]