Exercise 6-50

The accounting department at Weston Materials Inc., a national manufacturer of unattached garages, reports that it takes two construction workers a mean of 30 hours and a standard deviation of 5 hours to erect the Red Barn model. Assume the assembly times follow the normal distribution. Refer to the table in Appendix B.1.

a-1. Determine the z-values for 26 and 35 hours. (Negative answers should be indicated by a minus sign. Round the final answers to 1 decimal place.)

26 hours corresponds to z =           

35 hours corresponds to z =           

a-2. What percentage of the garages take between 30 hours and 35 hours to erect? (Round the final answer to 2 decimal places.)

Percentage            %

b. What percentage of the garages take between 26 hours and 35 hours to erect? (Round the final answer to 2 decimal places.)

Percentage            %

c. What percentage of the garages take 25.4 hours or less to erect? (Round the final answer to 2 decimal places.)

Percentage            %

d. Of the garages, 10% take how many hours or more to erect? (Round the final answer to 1 decimal place.)

Hours           

Lynch was the loan officer at First Bank. Patterson applied to borrow $25,000. Bank policy required that Lynch obtain a loan guaranty from Patterson’s employer, a milk company. The manager of the milk company visited the bank and signed a guaranty on behalf of the company. The last paragraph of the guaranty stated, “This guaranty is signed by an officer having legal right to bind the company through authorization of the Board of Directors.” Should Lynch be satisfied with this guaranty? Would he be satisfied if the president of the milk company, who was also a director, affirmed that the manager had authority to sign the guaranty? Explain.

Ralph owned a retail meat market. Ralph’s agent Sam, without authority but purporting to act on Ralph’s behalf, borrowed $7,500 from Ted. Although he never received the money, Ralph repaid $700 of the alleged loan and promised to repay the rest. If Sam had no authority to make the loan, is Ralph liable? Why?

A guest arrived early one morning at the Hotel Ohio. Clemens, a person in the hotel office who appeared to be in charge, walked behind the counter, registered the guest, gave him a key, and took him to his room. The guest also checked valuables (a diamond pin and money) with Clemens, who signed a receipt on behalf of the hotel. Clemens in fact was a roomer at the hotel, not an employee, and had no authority to act on behalf of the hotel. When Clemens absconded with the valuables, the guest sued the hotel. Is the hotel liable? Why?

(A) If the answer in (c) is greater than 0.01 then we conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

(B) If the answer in (c) is less than 0.01 then we cannot conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

(C) If the answer in (a) is greater than the answer in (b) then we cannot conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

(D) If the answer in (c) is less than 0.01 then we conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

(E) If the answer in (a) is greater than the answer in (c) then we cannot conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

(F) If the answer in (b) is greater than the answer in (c) then we cannot conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

(G) If the answer in (a) is greater than the answer in (c) then we conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

(H) If the answer in (b) is greater than the answer in (c) then we conclude at the 1% significance
level that the average weight of a bear in Yellowstone National Park is different from 187 lb.

Suppose that oil fouls the beaches along the Florida panhandle. Vacationers are the primary customers of the hotels along the panhandle. The oil _____ the price of a hotel room and _____ the quantity of hotel rooms rented

How is the concept of resort hotel different from other types of hotels? From a manager’s perspective, how is managing a resort hotel different from running other properties?

As a concerned employee of 'Delexis Hotel', Sunyani, write a letter to the General Manager informing him of four (4) inherent challenges inhibiting the success of interpersonal communications within the hotel.