1.

Superior Paver sued homeowners Pamela and Mark for $14,350 it claimed was still owed as extra work incurred in installing concreate pavers in the driveway of their residence. Pamela and Mark had previously paid the $45,000 contract price, and they counterclaimed for $60,500 for the reasonable cost of making the contractor’s work conform to the contract. The evidence established that Superior did not install a proper base of 3” to 4” of crushed limestone before installing the pavers as required by the contract, which caused the pavers to move creating gaps between the pavers and causing water to flow into the garage. To correct the problem the pavers needed to be removed and the area excavated and replaced with a crushed limestone base before, again, installing the pavers. Superior claimed it had substantially performed the contract as their performance resulted in a fully usable driveway, and, the proper remedy, if any, was the reduction of the market value of Pamela and Mark’s property due to any defective performance. Superior further asserted that the cost of redoing the entire job would be economic waste.

The result?

2.

A franchisee owner (Owner) of a popular hotel chain was bound by their franchise agreement with Mega Hotel Inc (Mega). Part of Owner’s obligations included that Owner maintain their 60 room hotel to at least minimum quality assurance standards. Owner’s hotel failed five consecutive quality inspections over two years, with the inspector noting damaged guest rooms, burns in the bedding, and severely stained carpets. Mega canceled the franchise agreement. Owner sued Mega for wrongfully canceling the agreement (breach of contract).

Owner’s defense against Mega cancelling the franchise was the following. The bridge repairs on the road leading to the hotel had adversely affected the hotels ability to live up to the franchise agreement. Further, the repairs made it commercially impractical for Owner to live up to the franchise agreement. For reasons such as the inability of hotel staff to arrive on time and properly clean the rooms. Will Owner’s defense prevail?

In a survey of 3,827 ​travelers, 1,459 said that location was very important for choosing a hotel and 1,175 said that reputation was very important in choosing an airline. Complete parts ​(a) through​ (c) below.

a. Construct a 95​% confidence interval estimate for the population proportion of travelers who said that location was very important for choosing a hotel.

b. Construct a 95​% confidence interval estimate for the population proportion of travelers who said that reputation was very important in choosing an airline.

c. Write a short summary of the information derived from​ (a) and​ (b) Which of the following is the best summary of the information derived from​ (a)?

A.One can be 95​% confident that the sample proportion of all travelers who said that location was very important for choosing a hotel lies within the interval in​ (a).

B.One can be 95​% confident that the population proportion of all travelers who said that location was very important for choosing a hotel lies within the interval in​ (a).

C.There is a 95​% probability that the sample proportion of all travelers who said that location was very important for choosing a hotel lies within the interval in​ (a).

D.There is a 95% probability that the population proportion of all travelers who said that location was very important for choosing a hotel lies within the interval in​ (a).

Which of the following is the best summary of the information derived from​ (b)?

A.One can be 95​% confident that the population proportion of all travelers who said that reputation was very important in choosing an airline lies within the interval in​ (b).

B.One can be 95​% confident that the sample proportion of all travelers who said that reputation was very important in choosing an airline lies within the interval in​ (b).

C.There is a 95​% probability that the sample proportion of all travelers who said that reputation was very important in choosing an airline lies within the interval in​ (b).

D.There is a 95​% probability that the population proportion of all travelers who said that reputation was very important in choosing an airline lies within the interval in​ (b).

You are trying to develop a strategy for investing in two different stocks. The anticipated annual return for a $1,000 investment in each stock under four different economic conditions has the following probability distribution:

Probability : 0.1 , 0.3, 0.3 , 0.3 .

Economic Condition: Recession, slow growth, moderate growth, fast growth.

3. Return} -Stock X: -100 , 0 , 80 , 150 .

4. - Stock Y: 50 , 150 , -20 , -100 .

a) Covariance of stock X and Y

Three different companies each purchased trucks on January 1, 2018, for $76,000. Each truck was expected to last four years or 250,000 miles. Salvage value was estimated to be $6,000. All three trucks were driven 81,000 miles in 2018, 55,000 miles in 2019, 46,000 miles in 2020, and 71,000 miles in 2021. Each of the three companies earned $65,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation. Answer each of the following questions. Ignore the effects of income taxes. d-1. Calculate the retained earnings on the December 31, 2021, balance sheet?

Three different companies each purchased trucks on January 1, 2018, for $74,000. Each truck was expected to last four years or 250,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 80,000 miles in 2018, 60,000 miles in 2019, 45,000 miles in 2020, and 70,000 miles in 2021. Each of the three companies earned $63,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation. Answer each of the following questions. Ignore the effects of income taxes. d-1. Calculate the retained earnings on the December 31, 2021, balance sheet?

Three different companies each purchased trucks on January 1, 2018, for $74,000. Each truck was expected to last four years or 250,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 80,000 miles in 2018, 60,000 miles in 2019, 45,000 miles in 2020, and 70,000 miles in 2021. Each of the three companies earned $63,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation. Answer each of the following questions. Ignore the effects of income taxes. c-1. Calculate the book value on the December 31, 2020, balance sheet?

The head of maintenance at XYZ Rent-A-Car believes that the mean number of miles between services is 2135 miles, with a variance of 145,924

.

If he is correct, what is the probability that the mean of a sample of 40 cars would differ from the population mean by less than 29 miles? Round your answer to four decimal places.

1)  Average tire life is 30,000 miles (μ = 30,000) and σ = 2,300 miles.  What is the

     probability that a tire will last 35,000 miles (or more)?

2)  If μ = 130 and σ = 20 on an employment test and the company only hires from the top

     75% of scores, what is the lowest score you can get and still get hired?

3)  The SAT has μ = 500 and σ = 100.  What score would put you in the top 15%?

4)  For a standard IQ test, μ = 100 and σ = 15.  

      a) What IQ would put you in the top 10%?

      b) If your IQ was 135, what percentage of the population is smarter than you?

Superhero physics: a) Choose a height between 1.00 miles and 3.00 miles. How fast would a superhero have to throw a ball straight upwards in order for it to rise this high? Give your answer in both m/s and mph. Assume air resistance is negligible, since at these speeds that's as believable as superheroes are. b) Choose a time between 1.00 minutes and 3.00 minutes. How fast would a superhero have to throw a ball straight upwards in order for it to spend this much time in the air (that is, for it to take that much time to return to their hand)? Give your answer in both m/s and mph. Same assumption. c) Without resorting to further calculations, which of these two balls will be in the air longer? Explain your reasoning, explicitly citing evidence. d) Choose one case, (a) or (b), and calculate the time required for the ball to rise halfway to its highest point, and the time to rise from there to the highest point. Check: see next question. e) Why does it take less time to rise halfway to the highest point than to rise the rest of the way?