In 2017, a website reported that only 10% of surplus food is being recovered in the food-service and restaurant sector, leaving approximately 1.5 billion meals per year uneaten. Assume this is the true population proportion and that you plan to take a sample survey of 575 companies in the food service and restaurant sector to further investigate their behavior.

(a)

Show the sampling distribution of

p,

the proportion of food recovered by your sample respondents.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about -2.9 to about 3.1.
• The curve enters the viewing window near -2.9 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.1.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 3.1.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about 0.06 to about 0.14.
• The curve enters the viewing window near 0.06 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.10.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 0.14.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about -0.04 to about 0.04.
• The curve enters the viewing window near -0.04 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.00.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 0.04.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about -0.03 to about 0.05.
• The curve enters the viewing window near -0.03 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.01.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 0.05.

(b)

What is the probability that your survey will provide a sample proportion within ±0.03 of the population proportion? (Round your answer to four decimal places.)

(c)

What is the probability that your survey will provide a sample proportion within ±0.015 of the population proportion? (Round your answer to four decimal places.)

You may need to use the appropriate appendix table or technology to answer this question.

In 2017, a website reported that only 10% of surplus food is being recovered in the food-service and restaurant sector, leaving approximately 1.5 billion meals per year uneaten. Assume this is the true population proportion and that you plan to take a sample survey of 535 companies in the food service and restaurant sector to further investigate their behavior.

(a)

Show the sampling distribution of

p,

the proportion of food recovered by your sample respondents.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about -0.03 to about 0.05.
• The curve enters the viewing window near -0.03 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.01.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 0.05.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about 0.06 to about 0.14.
• The curve enters the viewing window near 0.06 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.10.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 0.14.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about -2.9 to about 3.1.
• The curve enters the viewing window near -2.9 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.1.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 3.1.

A bell-shaped curve is above a horizontal axis labeled p.

• The horizontal axis ranges from about -0.04 to about 0.04.
• The curve enters the viewing window near -0.04 just above the horizontal axis, curves up to the right, and reaches a maximum near 0.00.
• The curve then curves down and to the right until it leaves the viewing window at the same height it entered near 0.04.

(b)

What is the probability that your survey will provide a sample proportion within ±0.03 of the population proportion? (Round your answer to four decimal places.)

(c)

What is the probability that your survey will provide a sample proportion within ±0.015 of the population proportion? (Round your answer to four decimal places.)

1. Given a strip commercial development near Columbia, SC, with the following characteristics: overland flow length = 180 ft on 2.1% grade over asphalt cover (n=0.011); shallow concentrated flow length of 1000 ft on 1.8% grade (paved gutter); drainage area = 5 acres; runoff coefficient = 0.60

1. Sheet flow travel time (minutes) =                           
2. Shallow concentrated flow travel time (minutes) =                              
3. Watershed time of concentration (minutes) =                         
4. 10-year design rainfall intensity (inches/hour) =                                 
5. Runoff peak (cfs) for 10-year design rainfall =                                   

2. Given a 28-acre watershed with the following land use mix: 8 acres of SFR (38% impervious) on HSG-B soils, 5 acres of SFR (30% impervious) on HSG-C soils, and 15 acres of open space (park and playground) in fair condition on HSG-C soils. Watershed time of concentration is 21 minutes. The design return period 24-hour rainfall depth is 5.25 inches.

1. The runoff-weighted average curve number (CN) =                             
2. The area-weighted unit hydrograph peak rate factor (PRF) =                                                                 

c)    The runoff volume from a rainfall of 3.25 inches (watershed inches) =                             

d)   The runoff volume from a rainfall of 0.47 inches (watershed inches) =                             

Your client, Barney Green, and his wife, Edith, attended a two-day conference in Maui related to Barry's work in architecture as a sole proprietor. The Greens went to Hawaii several days early so they could adjust to the jet lag and be ready for the conference. The $8,000 cost of the trip included the following expenses:

First-class airfare $2,500

Hotel (four days) $2,000

Conference fee $1,000 per person

Meals $1,500.

What expenses (if any) can Barney deduct for his business?

Question 1

Rick’s Motel has the following monthly costs in the first five months of 2019:

Month                    Rooms Rented                  Costs

January                            150                        $20,250

February                           160                          21,000

March                               130                          18,750

April                                 144                          19,800

May                                  170                          21,750

Instructions

a.    Identify the fixed and variable cost elements using the high-low method.

b.    The hotel management is doing a projection for June 2019. How many rooms should be rented out in order to break even, if the charge is $150 per room rented?

Identifyassumptions you need to make to prepare financial forecasts.

Discuss the risk of leasing hotel rooms to investors.

Linenpress Limited manufactures pillowcases which it supplies to a major hotel chain. It uses a just-in-time system and holds no inventories. The standard cost for the cotton which is used to make the pillowcases is £5 per m2. Each pillowcase uses 0.5m2 of cotton and production levels for November were as follows: Budgeted production Actual production (units) (units) Pillowcases 190,000 180,000 The actual cost of the cotton in November was £5·80 per m2 and 95,000m2 was used to make the pillowcases. The world commodity prices for cotton increased by 20% in the month of November. At the beginning of the month, the hotel chain made an unexpected request for an immediate design change to the pillowcases. The new design required 10% more cotton than previously. It also resulted in production delays and therefore a shortfall in production of 10,000 pillowcases in total that month. The production manager at Linenpress is responsible for all buying and any production issues which occur, although he is not responsible for the setting of standard costs. Part A

Calculate the following variances for the month of November:

Material price planning variance;

Material price operational variance;

Material usage planning variance;

Material usage operational variance.

Part B Discuss the performance of the production manager for the month of November in the context of your findings in Part A.

Part C Explain how the use of planning and operational variances can lead to more effective performance evaluation in an organisation.

1. The Sleep Well Corporation operates many hotels throughout the world. Suppose one of its Chicago hotels is facing difficult times because of the opening of several competing hotels. To accomodate its flight personnel, Air One has offered Sleep Well a contract for the coming year that provides a rate of $75 per night per room for a minimum of 45 rooms for 365 flights. This contract would assume Sleep Well of selling 45 rooms of space nightly, even if some of the rooms are vacant on some nights. Assume zero variable costs. The Sleep Well manager has mixed feelings about the contract. On several peak nights during the? year, the hotel could sell the same space for $175 per room. Suppose the Sleep Well manager signs the contract. What is the opportunity cost of the 45 rooms on October? 20, the night of a big convention of retailers when every nearby hotel room is? occupied? What is the opportunity cost on December? 28, when only 9 of these rooms would be expected to be rented at an average rate of $105??

If the? year-round rate per room averaged $85?, what percentage of occupancy of the 45 rooms in question would have to be rented to make Sleep Well indifferent about accepting the? offer?

PLEASE EXPLAIN HOW YOU GOT THE ANSWER WITH STEPS.

(Solving with excel workbook)

A large corporation must reserve a hotel room block for its annual stockholders' meeting. Based on history, the number of attendees will be normally distributed with mean 4900 and standard deviation 1000. Rooms can be reserved now for a cost of $150/room. If the number of rooms reserved is less than attendance, additional rooms must be reserved at a cost of $250/room. If the number of rooms reserved is greater than attendance, the corporation must indemnify the hotel at the rate of $75 per unused room.

The boss tells you: "I am going to reserve 4300, 4400, 4500, 4600, 4700, 4800, 4900, 5000, 5100, or 5200 rooms, whichever you recommend. Please give me your recommendation." (first number requested)

Redo the problem: The number attending has a triangular distribution with minimum 2000, most likely value 4900, and maximum value 6900. Again, he boss tells you: "I am going to reserve 4300, 4400, 4500, 4600, 4700, 4800, 4900, 5000, 5100, or 5200 rooms, whichever you recommend. Please give me your recommendation." (second number requested)

For the first part of the problem, what is the chance that the random number sampled from the normal is negative, to 3 significant decimal digits? (third number requested)

From the information given below, prepare a November income statement, a November statement of retained earnings, and a November 30 balance sheet. On November 1, of the current year, Garza Décor Inc. had a beginning retained earnings of $50,000. On November 30, records for Garza Décor Inc. showed the following items and amounts.