Solve the following equations for the unknown.

1. G - 24 = 75

2. 3(2c - 5) = 45

3. n/4 - 7 = 8

For the following statements, underline the key words and translate into an expression.

4. 15 less than one-ninth of P

5. 3 times the quantity of H less 233

For the following statement, underline the key words and translate into an equation.

6. A number increased by 11 is 32

7. The sum of 2 more than 6 times a number and 7 times that number is that number decreased by 39

Set up and solve equations for each of the following business situations.

8. At Telepower Plus, long-distance phone calls to China cost $0.59 for the first minute and $0.25 for each additional minute plus an additional roaming charge of $2.50. If the total charge of a call to Beijing was $11.84, how long did the call last?

9. A Cold Stone Creamery ice cream shop sells sundaes for $3.60 and banana splits for $4.25. The shop sells four times as many sundaes as banana splits.

a. If total sales amount to $3,730 last weekend, how many of each were sold?

b. What were the dollar sales of each?

Use ratio and proportion to solve the following business situation.

10. Angeles Hatcher is planting flower bulbs in her garden for this coming summer. She intends to plant 1 bulb for every 5 square inches of flower bed.

a. How many flower bulbs will she need for an area measuring 230 square inches?

b. If the price is $1.77 for every 2 bulbs, how much will she spend on the flower bulbs?

Solve the following equations for the unknown.

1. G - 24 = 75

2. 3(2c - 5) = 45

3. n/4 - 7 = 8

For the following statements, underline the key words and translate into an expression.

4. 15 less than one-ninth of P

5. 3 times the quantity of H less 233

For the following statement, underline the key words and translate into an equation.

6. A number increased by 11 is 32

7. The sum of 2 more than 6 times a number and 7 times that number is that number decreased by 39

Set up and solve equations for each of the following business situations.

8. At Telepower Plus, long-distance phone calls to China cost $0.59 for the first minute and $0.25 for each additional minute plus an additional roaming charge of $2.50. If the total charge of a call to Beijing was $11.84, how long did the call last?

9. A Cold Stone Creamery ice cream shop sells sundaes for $3.60 and banana splits for $4.25. The shop sells four times as many sundaes as banana splits.

a. If total sales amount to $3,730 last weekend, how many of each were sold?

b. What were the dollar sales of each?

Use ratio and proportion to solve the following business situation.

10. Angeles Hatcher is planting flower bulbs in her garden for this coming summer. She intends to plant 1 bulb for every 5 square inches of flower bed.

a. How many flower bulbs will she need for an area measuring 230 square inches?

b. If the price is $1.77 for every 2 bulbs, how much will she spend on the flower bulbs?

High Star Pte. Ltd. (“HS”) is a company that is licensed to operate and offer classes for professional business, finance and accounting courses. Since incorporation, it operates from two buildings, Block A and Block B, in a campus sited on a parcel of freehold land. The two buildings comprise lecture halls, seminar and tutorial rooms, staff offices, a library and an administration office. The halls, rooms and offices are adequately equipped with the “pre-requisite” teaching equipment and furniture, comprising tables and chairs, and fittings as well as the current state-of-the-art electronic and electrical teaching equipment. To cater for the planned expansion of the school, HS began constructing a new building, Block C, two years ago and it was completed in August 2015 just before the new session began in October 2015. A similar “suite” of pre-requisite teaching equipment and furniture was acquired to equip the new building,

As audit senior at ACC LLP, you have been assigned to the audit of the financial statements of HS for the financial year ended 30 September 2015. In the early stages of the final audit, in October 2015, you made the following observations. The Accountant went on a 90-day maternity leave from 15 August 2015. The newly-hired Accounts Assistant, Jane, was tasked to close the books for the financial year ended 30 September 2015 before the commencement of the audit. The last batch of tables and chairs for the last two seminar rooms in the new building (Block C) arrived on 15 September 2015. They were ready for intended use immediately. The invoice for this last batch of tables and chairs amounting to $80,000 was received by HS on 15 October 2015. Jane was unaware of the delivery of the tables and chairs, and the invoice and payment were not accounted for in the closing of books for the year. As you toured Block C, you observed that all the halls, rooms and offices were fully equipped as planned. An invoice amounting to $50,000 for the routine servicing of the state-of-the-art electronic and electrical teaching equipment was received on 15 September 2015. In closing the books for the year, Jane capitalized the amount as cost of equipment. In a meeting of the Board of Directors on 15 September 2015, it was resolved that the tables and chairs for the tutorial rooms in Block A and Block B be replaced and scrapped by the first quarter of the next financial year. The tables and chairs have no scrap value. As at 1 October 2014, these tables and chairs had a remaining useful life of three years and the carrying amount of these tables and chairs as at 1 October 2014 was $45,000. In closing the books for the year, Jane charged $15,000 (i.e., $45,000 carrying amount as at 1 October 2014 divided by 3 years of remaining useful life) as depreciation expense in the profit or loss. The accounting policy of HS requires HS to account for freehold land (PPE) at revaluation less impairment, and revalue the land at regular intervals of five years. The five year cycle for the revaluation of the land was due for the financial year ended 30 September 2015. As the Accountant was on maternity leave, no arrangement was made to commission for the revaluation. Jane, on realising this, hastily contacted a personal friend, who had recently graduated and now runs a small valuation firm, Any How Valuers Pte Ltd (“AHV”), to provide valuation services on the freehold land. You noted that the fees paid to AHV was significantly higher than the normal range of fees for similar valuation services and that HS is AHV’s first and only client to-date. Based on the valuation report, the parcel of freehold land on which the buildings are located had a revalued amount of $3,500,000. As at 1 October 2014, the carrying amount and revaluation reserve were $3,300,000 and $20,000, respectively. In closing the books, Jane accounted for the revaluation surplus of $200,000 in the profit or loss account. The accounting policy requires HS to provide for a full year’s depreciation in the year of acquisition/disposal for assets which have been in use for more than six months in the year.

(c) For each accounting issue and error identified in Part (b), suggest one (1) audit procedure which would enable you to determine the extent of misstatement. (d) For the purposes of this part of the question, assume that the valuation report prepared by AHV is acceptable for audit purposes. Assuming that the overall materiality level for this audit engagement is set at $150,000, and the accounting issues and errors identified in part (b) were the only errors noted in the audit, determine the effect of the misstatements on your audit opinion (include quantifying the misstatements and assessing their effects on specific accounts)

State Farm Insurance studies show that in Colorado, 50% of the auto insurance claims submitted for property damage were submitted by males under 25 years of age. Suppose 8 property damage claims involving automobiles are selected at random.

(a) Let r be the number of claims made by males under age 25. Make a histogram for the r-distribution probabilities. Maple Generated Plot Maple Generated Plot Maple Generated Plot Maple Generated Plot

(b) What is the probability that seven or more claims are made by males under age 25? (Use 3 decimal places.) (c) What is the expected number of claims made by males under age 25? What is the standard deviation of the r-probability distribution? (Use 2 decimal places.) μ σ

Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for Vanguard Total Stock Index (all stocks). Let y be a random variable representing annual return for Vanguard Balanced Index (60% stock and 40% bond). For the past several years, we have the following data. x: 38 0 21 24 19 16 36 −22 −24 −8 y: 10 −2 27 25 16 15 15 −10 −7 −5 (a) Compute Σx, Σx2, Σy, Σy2. Σx Σx2 Σy Σy2 (b) Use the results of part (a) to compute the sample mean, variance, and standard deviation for x and for y. (Round your answers to two decimal places.) x y x s2 s (c) Compute a 75% Chebyshev interval around the mean for x values and also for y values. (Round your answers to two decimal places.) x y Lower Limit Upper Limit Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for Vanguard Total Stock Index (all stocks). Let y be a random variable representing annual return for Vanguard Balanced Index (60% stock and 40% bond). For the past several years, we have the following data. x: 38 0 21 24 19 16 36 −22 −24 −8 y: 10 −2 27 25 16 15 15 −10 −7 −5 (a) Compute Σx, Σx2, Σy, Σy2. Σx Σx2 Σy Σy2 (b) Use the results of part (a) to compute the sample mean, variance, and standard deviation for x and for y. (Round your answers to two decimal places.) x y x s2 s (c) Compute a 75% Chebyshev interval around the mean for x values and also for y values. (Round your answers to two decimal places.) x y Lower Limit Upper Limit Use the intervals to compare the two funds. 75% of the returns for the balanced fund fall within a narrower range than those of the stock fund. 75% of the returns for the stock fund fall within a narrower range than those of the balanced fund. 25% of the returns for the balanced fund fall within a narrower range than those of the stock fund. 25% of the returns for the stock fund fall within a wider range than those of the balanced fund. (d) Compute the coefficient of variation for each fund. (Round your answers to the nearest whole number.) x y CV % % Use the coefficients of variation to compare the two funds. For each unit of return, the stock fund has lower risk. For each unit of return, the balanced fund has lower risk. For each unit of return, the funds have equal risk. If s represents risks and x represents expected return, then s/x can be thought of as a measure of risk per unit of expected return. In this case, why is a smaller CV better? Explain. A smaller CV is better because it indicates a higher risk per unit of expected return. A smaller CV is better because it indicates a lower risk per unit of expected return

Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for Vanguard Total Stock Index (all stocks). Let y be a random variable representing annual return for Vanguard Balanced Index (60% stock and 40% bond). For the past several years, we have the following data. x: 38 0 21 24 19 16 36 −22 −24 −8 y: 10 −2 27 25 16 15 15 −10 −7 −5 (a) Compute Σx, Σx2, Σy, Σy2. Σx Σx2 Σy Σy2 (b) Use the results of part (a) to compute the sample mean, variance, and standard deviation for x and for y. (Round your answers to two decimal places.) x y x s2 s (c) Compute a 75% Chebyshev interval around the mean for x values and also for y values. (Round your answers to two decimal places.) x y Lower Limit Upper Limit Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for Vanguard Total Stock Index (all stocks). Let y be a random variable representing annual return for Vanguard Balanced Index (60% stock and 40% bond). For the past several years, we have the following data. x: 38 0 21 24 19 16 36 −22 −24 −8 y: 10 −2 27 25 16 15 15 −10 −7 −5 (a) Compute Σx, Σx2, Σy, Σy2. Σx Σx2 Σy Σy2 (b) Use the results of part (a) to compute the sample mean, variance, and standard deviation for x and for y. (Round your answers to two decimal places.) x y x s2 s (c) Compute a 75% Chebyshev interval around the mean for x values and also for y values. (Round your answers to two decimal places.) x y Lower Limit Upper Limit Use the intervals to compare the two funds. 75% of the returns for the balanced fund fall within a narrower range than those of the stock fund. 75% of the returns for the stock fund fall within a narrower range than those of the balanced fund. 25% of the returns for the balanced fund fall within a narrower range than those of the stock fund. 25% of the returns for the stock fund fall within a wider range than those of the balanced fund. (d) Compute the coefficient of variation for each fund. (Round your answers to the nearest whole number.) x y CV % % Use the coefficients of variation to compare the two funds. For each unit of return, the stock fund has lower risk. For each unit of return, the balanced fund has lower risk. For each unit of return, the funds have equal risk. If s represents risks and x represents expected return, then s/x can be thought of as a measure of risk per unit of expected return. In this case, why is a smaller CV better? Explain. A smaller CV is better because it indicates a higher risk per unit of expected return. A smaller CV is better because it indicates a lower risk per unit of expected return

x

An industrial engineer employed by a beverage bottler is interested in the effects of two different types of 32-ounces bottles vs the potential fatigue differences resulted from delivering 12-bottle cases of the product. The two bottle types are glass and plastic. Two workers are used to perform the task that consists of moving 40 cases of the product 50 feet on a standard type of hand truck and then, stacking the cases in a display.

As a measured of the amount of effort required, he measured the elevation of the heart rate (BPM) induced by the task. Use a confidence level of 95%. The results follow.

1. Estimate the factor effects. What effects appear to be larger?

2. Use the analysis of variance to compare your conclusions for part (a).

3. Analyze the residuals. Are there any obvious problem

4. Based on an analysis of main effect and interaction plots, what factor levels would you recommend using? Explain.

Consider two countries: Nigeria and Taiwan, and two goods: oil and semiconductors. In Nigeria, a barrel of oil costs 5 labor hours to produce, while a pound of semiconductors costs 20 labor hours. In Taiwan, a barrel of oil costs 7.5 labor hours to produce, while a pound of semiconductors costs 15 labor hours.

(a) (7 points) Does any country have an absolute advantage? Why or why not?

(b) (8 points) Which country has a comparative advantage in each school? What will be the country export/import? Justify your answer by computing the relative price of each good in each country.

(c) (7 points) Suppose the international relative price of a pound of semiconductors is 3 barrels of oil. Show how each contry can save on hours of work by trading with each other.

The following information is available for an MRP problem. The BOM file shows that Product A is made of three units of Part B and one unit of Part C. Part C is made of four units of Part D, three units of Part E, and two units of Part F. Checking the correct statements results in earning credits, while checking incorrect statements results in losing a half of a correct statement.

The Master Production Schedule requirements for the finished product are as follows (in millions):