Questions
Most states today have four main types of criminal homicide. Define and discuss these and provide...

Most states today have four main types of criminal homicide. Define and discuss these and provide examples.

In: Economics

what are the effects of leveling income inequality on developing states in the 21st century? (answer...

what are the effects of leveling income inequality on developing states in the 21st century?

(answer in 200 word paragraph)

In: Economics

You are given the sample mean and the population standard deviation. Use this information to construct...

You are given the sample mean and the population standard deviation. Use this information to construct the​ 90% and​ 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If​ convenient, use technology to construct the confidence intervals. A random sample of 60 home theater systems has a mean price of ​$118.00. Assume the population standard deviation is ​$19.60. Construct a​ 90% confidence interval for the population mean.

The​ 90% confidence interval is ​( nothing​, nothing​). ​(Round to two decimal places as​ needed.)

Construct a​ 95% confidence interval for the population mean.

The​ 95% confidence interval is ​( nothing​, nothing​). ​(Round to two decimal places as​ needed.)

Interpret the results. Choose the correct answer below

A. With​ 90% confidence, it can be said that the population mean price lies in the first interval. With​ 95% confidence, it can be said that the population mean price lies in the second interval. The​ 95% confidence interval is wider than the​ 90%.

B. With​ 90% confidence, it can be said that the sample mean price lies in the first interval. With​ 95% confidence, it can be said that the sample mean price lies in the second interval. The​ 95% confidence interval is wider than the​ 90%.

C. With​ 90% confidence, it can be said that the population mean price lies in the first interval. With​ 95% confidence, it can be said that the population mean price lies in the second interval. The​ 95% confidence interval is narrower than the​ 90%.

In: Statistics and Probability

Do people eat more of a snack food when the food is labeled as low-fat? Do...

Do people eat more of a snack food when the food is labeled as low-fat? Do people pay attention to serving size? The answer may depend on whether the snack food is labelled low-fat and whether the label includes serving-size information. A study investigated these two questions using staff, grad students, and undergrad students at a large university as subjects.   
Subjects were asked to evaluate a pilot episode for an upcoming TV show at a theater on campus and were given a bag of granola from a respected campus restaurant. They were told to enjoy as much or as little of the granola as they wanted. Each granola bag had two labels: Twenty subjects were assigned to each treatment, and their granola bags were weighed at the end of the session to determine how much granola was eaten.

Lable1: type Lable2: serving size
"Regular Rocky Mountain Granola" "Contains 1 Serving"
"Low-Fat Rocky Mountain Granola" "Contains 2 Serving"
no serving-size information

a) Is the study an observational study or an experiment? Specifically in this study (do not give general definitions),

what are the b) experimental units (abbreviated EU, also called individuals or subjects)

c) response variable and whether it is quantitative or categorical

d) How many factors were there and what were they?

e) How many treatments were there and what were they?

f) How many experimental units were in the study?

In: Statistics and Probability

Microeconomics Marginal Productivity and the Law of Diminishing Marginal Returns You have recently been hired to...

Microeconomics

Marginal Productivity and the Law of Diminishing Marginal Returns

You have recently been hired to manage a movie theater. You observe that there are many customers waiting around the concession area to buy snacks. You also observe that there is only one clerk working the counter. This employee has to do everything from get the popcorn going, stocking condiments and supplies, changing the soda canister when the syrup runs out for fountain drinks, helping customers, fill orders, collect cash, and of course, smile at the customers who have waited lengthy periods of time.

You obtain a report that shows the average sales per weekend night are $500 with one clerk. You decide to hire another clerk for the shift and sales increase to $1,000. You add one more clerk, and sales increase to $1,700. Again, you add another clerk, and sales increase to $1,900. Finally you add one more clerk, and sales increase to $2,000.

1.         Calculate the marginal product associated with each clerk. Draw a table to do this.

2.         At what point did the law of diminishing marginal return become evident?

3.         Why did the marginal product increase as more clerks were added initially?

4.         Why did the marginal product start to diminish?

In: Economics

NewTech Medical Devices is a medical devices wholesaler that commenced business on June 1, 2019. NewTech...

NewTech Medical Devices is a medical devices wholesaler that commenced business on June 1, 2019. NewTech Medical Devices purchases merchandise for cash and on open account. In June 2019, NewTech Medical Devices engaged in the following purchasing and cash payment activities:

DATE TRANSACTIONS
2019
June 1 Issued Check 101 to purchase merchandise, $3,800.
3

Purchased merchandise for $1,350 from BioCenter Inc., Invoice 606; terms 2/10, n/30.

5

Purchased merchandise for $5,150, plus a freight charge of $100, from New Concepts Corporation, Invoice 1011, terms 2/10, n/30.

9

Paid amount due to BioCenter Inc. for purchase of June 3, less discount, Check 102.

10

Received Credit Memorandum 227 from New Concepts Corporation for damaged merchandise totaling $350 that was returned; the goods were purchased on Invoice 1011, dated June 5.

11

Purchased merchandise for $1,610 from BioCenter Inc., Invoice 612; terms 2/10, n/30.

14

Paid amount due to New Concepts Corporation for Invoice 1011 of June 5, less the return of June 10 and less the cash discount, Check 103.

15

Purchased merchandise with a list price of $8,500 and trade discounts of 20 percent and 15 percent from Park Research, Invoice 1029, terms n/30.

20 Issued Check 104 to purchase merchandise, $2,300.
25

Returned merchandise purchased on June 20 as defective, receiving a cash refund of $210.

30

Purchased merchandise for $2,500, plus a freight charge of $78, from New Concepts Corporation, Invoice 1080; terms 2/10, n/30.

Required:
Journalize the transactions in a general journal.


Analyze:
What was the amount of trade discounts received on the June 15 purchase from Park Research?

Issued Check 101 to purchase merchandise, $3,800.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 01, 2019

Purchased merchandise for $1,350 from BioCenter Inc., Invoice 606; terms 2/10, n/30.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 03, 2019

Purchased merchandise for $5,150, plus a freight charge of $100, from New Concepts Corporation, Invoice 1011, terms 2/10, n/30.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 05, 2019

Paid amount due to BioCenter Inc. for purchase of June 3, less discount, Check 102.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 09, 2019

Received Credit Memorandum 227 from New Concepts Corporation for damaged merchandise totaling $350 that was returned; the goods were purchased on Invoice 1011, dated June 5.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 10, 2019

Purchased merchandise for $1,610 from BioCenter Inc., Invoice 612; terms 2/10, n/30.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 11, 2019

Paid amount due to New Concepts Corporation for Invoice 1011 of June 5, less the return of June 10 and less the cash discount, Check 103.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 14, 2019

Purchased merchandise with a list price of $8,500 and trade discounts of 20 percent and 15 percent from Park Research, Invoice 1029, terms n/30.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 15, 2019

Issued Check 104 to purchase merchandise, $2,300.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 20, 2019

Returned merchandise purchased on June 20 as defective, receiving a cash refund of $210.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 25, 2019

Purchased merchandise for $2,500, plus a freight charge of $78, from New Concepts Corporation, Invoice 1080; terms 2/10, n/30.

Note: Enter debits before credits.

DATE GENERAL JOURNAL DEBIT CREDIT
June 30, 2019

Analyze

What was the amount of trade discounts received on the June 15 purchase from Park Research?

Trade discount received

In: Accounting

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for...

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. One week later, the number of customers enrolled in Verizon’s cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. The manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company’s 2016 annual revenues. One year later, the manager was perplexed because Verizon's 2016 annual revenues were 10 percent lower than those in 2015—the price increase apparently led to a reduction in the company’s revenues. Did the manager make an error? Explain.

In: Economics

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for...

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. One week later, the number of customers enrolled in Verizon’s cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. The manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company’s 2016 annual revenues. One year later, the manager was perplexed because Verizon's 2016 annual revenues were 10 percent lower than those in 2015—the price increase apparently led to a reduction in the company’s revenues. Did the manager make an error? Explain.

In: Economics

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for...

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. One week later, the number of customers enrolled in Verizon’s cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. The manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company’s 2016 annual revenues. One year later, the manager was perplexed because Verizon's 2016 annual revenues were 10 percent lower than those in 2015—the price increase apparently led to a reduction in the company’s revenues.

Did the manager make an error? Explain.

In: Economics

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for...

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. One week later, the number of customers enrolled in Verizon’s cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. The manager used this information to estimate the own price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company’s 2012 annual revenues. One year later, the manager was perplexed because Verizon’s 2012 annual revenues were 10 percent lower than those in 2011—the price increase apparently led to a reduction in the company’s revenues. Did the manager make an error? Explain.

In: Economics