The appraisal of a warehouse can appear straightforward compared to other appraisal assignments. A warehouse appraisal involves comparing a building that is primarily an open shell to other such buildings. However, there are still a number of warehouse attributes that are plausibly related to appraised value. Consider the accompanying data on truss height (ft), which determines how high stored goods can be stacked, and sale price ($) per square foot.
| Height | 12 | 14 | 14 | 15 | 15 | 16 | 18 | 22 | 22 | 24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Price | 35.55 | 37.82 | 36.92 | 40.02 | 38.02 | 37.50 | 40.98 | 48.51 | 46.98 | 47.52 |
| Height | 24 | 26 | 26 | 27 | 28 | 30 | 30 | 33 | 36 |
|---|---|---|---|---|---|---|---|---|---|
| Price | 46.20 | 50.36 | 49.15 | 48.07 | 50.89 | 54.78 | 54.30 | 57.17 | 57.44 |
(a)
Estimate the true average change in sale price associated with a one-foot increase in truss height, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers to three decimal places.)
$ , $
(b)
Estimate the true average sale price for all warehouses having a truss height of 25 ft, and do so in a way that conveys information about the precision of estimation. (Use a 95% CI. Round your answers to three decimal places.)
,
dollars per square foot
(c)
Predict the sale price for a single warehouse whose truss height is 25 ft, and do so in a way that conveys information about the precision of prediction. (Use a 95% PI. Round your answers to three decimal places.)
,
dollars per square foot
How does this prediction compare to the estimate of (b)?
The prediction interval is ---Select--- the same as smaller than wider than the confidence interval in part (b).
(d)
Without calculating any intervals, how would the width of a 95% prediction interval for sale price when truss height is 25 ft compare to the width of a 95% interval when height is 30 ft? Explain your reasoning.
Since 25 is ---Select--- farther from nearer to the mean than 30, a PI at 30 would be ---Select--- wider smaller than the PI at 25.
(e)
Calculate the sample correlation coefficient. (Round your answer to three decimal places.)
Interpret the sample correlation coefficient.
There is a ---Select--- weak strong correlation between the variables.
You may need to use the appropriate table in the Appendix of Tables to answer this question.
In: Statistics and Probability
The amount of protein that an individual must consume is different for every person. There are solid theoretical ideas that suggest that the protein requirement will be normally distributed in the population of the United States.The protein requirement is given in terms of the number of grams of good quality protein that must be consumed each day per kilogram body of weight (g P • kg−1 • d−1.) The population mean protein requirement for adults is 0.65 g P • kg−1 • d−1 and the population standard deviation is 0.07 g P • kg−1 • d−1.
What proportion of the population have a protein requirement that is less than 0.70 g P • kg−1 • d−1? (Give your answer as a decimal, accurate to three decimal places.)
Find the probability that a randomly selected person will have a protein requirement that is between 0.60 and 0.70 g P • kg−1 • d−1. (Hint: Remember that to find the area between two values, shade to the left of each Z-Score you calculate and then subtract the smaller area from the larger area. Make sure your answer is positive. This is the probability that a randomly selected observation will lie between the two values. Give your answer as a decimal, accurate to three decimal places.)
Find the 35th percentile for the protein requirement for adults. Round your answer to three decimal places.
Find the 80th percentile for the protein requirement for adults. Round your answer to three decimal places.
In: Statistics and Probability
You have developed a self-service kiosk capable of serving about 15 clients per hour. You have been told that the average rate of customers using this kiosk is about 10 customers per hour. You also know that the number of customers who approach the kiosk per hour follows the Poisson distribution.
1. Write out the pmf of the Poisson RV in this case and solve for 20 customers approaching the kiosk.
2. Use an R function to find a probability for the above.
3. Have R generate random numbers following the above distribution for 100,000 intervals. What is the maximum number of customers approaching the kiosk in your simulation?
In: Statistics and Probability
A vending machine dispenses hot chocolate or coffee. Service
time is 35 seconds per cup and is constant. Customers arrive at a
mean rate of 66 per hour, and this rate is
Poisson-distributed.
a. Determine the average number of customers
waiting in line. (Round your answer to 2 decimal
places.)
Average number of customer
b. Determine the average time customers spend in
the system. (Do not round intermediate calculations. Round
your answer to 2 decimal places.)
Average time in minutes
c. Determine the average number of customers in
the system. (Do not round intermediate
calculations. Round your answer to 2 decimal
places.)
Average number of customers
In: Statistics and Probability
A vending machine dispenses hot chocolate or coffee. Service
time is 35 seconds per cup and is constant. Customers arrive at a
mean rate of 61 per hour, and this rate is
Poisson-distributed.
a. Determine the average number of customers
waiting in line. (Round your answer to 2 decimal
places.)
Average number of customer
b. Determine the average time customers spend in
the system. (Do not round intermediate calculations. Round
your answer to 2 decimal places.)
Average time
minutes
c. Determine the average number of customers in
the system. (Do not round intermediate
calculations. Round your answer to 2 decimal
places.)
Average number
customers
In: Statistics and Probability
Problem 5-45 Volume-Based Costing versus ABC [LO 5-1, 5-3, 5-5]
[The following information applies to the questions displayed below.]
ADA Pharmaceutical Company produces three drugs—Diomycin, Homycin, and Addolin—belonging to the analgesic (pain-killer) family of medication. Since its inception four years ago, ADA has used a direct labor hour–based system to assign manufacturing overhead costs to products.
Eme Weissman, the president of ADA Pharmaceutical, has just read about activity-based costing in a trade journal. With some curiosity and interest, she asked her financial controller, Takedo Simon, to examine differences in product costs between the firm’s current costing and activity-based costing systems.
ADA has the following budget information for the year:
| Diomycin | Homycin | Addolin | |||||||||
| Cost of direct materials | $ | 210,000 | $ | 270,000 | $ | 263,000 | |||||
| Cost of direct labor | 255,000 | 239,000 | 268,000 | ||||||||
| Number of direct labor hours | 7,250 | 6,850 | 2,050 | ||||||||
| Number of capsules | 1,050,000 | 505,000 | 305,000 | ||||||||
ADA has identified the following activities and cost drivers and has assigned them a total overhead cost of $202,500.
| Activity | Cost Driver | Budgeted Overhead Cost | Budgeted Cost Driver Volume | |||||
| Machine setup | Setup hours | $ | 16,500 | 1,650 | ||||
| Plant management | Number of Workers | 36,500 | 1,250 | |||||
| Supervision of direct labor | Direct labor hours | 46,500 | 16,500 | |||||
| Quality inspection | Inspection hours | 50,900 | 1,075 | |||||
| Order expediting | Customers served | 52,100 | 670 | |||||
| Total overhead | $ | 202,500 | ||||||
Takedo selected the cost drivers with the following justifications:
SETUP HOURS: The cost driver of setup hours is used because the same product takes about the same amount of setup time regardless of size of batch. For different products, however, the setup time varies.
NUMBER OF WORKERS: Plant management includes plant maintenance and corresponding managerial duties that make production possible. This activity depends on the number of workers. The more workers involved, the higher the cost.
DIRECT LABOR HOURS: Supervisors spend their time supervising production. The amount of time they spend on each product is proportional to the direct labor hours worked.
INSPECTION HOURS: Inspection involves testing a number of units in a batch. The time varies for different products but is the same for all similar products.
NUMBER OF CUSTOMERS SERVED: The need to expedite production increases as the number of customers served by the company increases. Thus, the number of customers served by ADA is a good measure of expediting production orders.
Takedo gathered the following information about the cost driver volume for each product:
| Diomycin | Homycin | Addolin | |||||||||
| Setup hours | 225 | 625 | 825 | ||||||||
| Number of workers | 225 | 425 | 625 | ||||||||
| Direct labor hours | 7,250 | 6,850 | 2,050 | ||||||||
| Inspection hours | 175 | 225 | 725 | ||||||||
| Customers served | 50 | 105 | 525 | ||||||||
Use the activity-based cost system to calculate the unit cost of each product. (Round intermediate calculations to 2 decimal places. Round "Cost per capsule" to 2 decimal places.)
|
Part 1
Required:
1. Use the firm’s current costing system to calculate the unit cost of each product.
2. Use the activity-based cost system to calculate the unit cost of each product.
In: Accounting
|
I need the formulas in excel: Thank you You're talking to a friend of yours who has student loans of $30,000. She has just graduated and now needs to pay them back with monthy payments at a 4.19% interest rate over the next 10 years. |
|||||||||
| a. Create a loan amortization table for this loan. | |||||||||
| b. If she increases her monthly payment by $100, how much sooner will she have paid off the loan? | |||||||||
| loan balance | |||||||||
| number of payments | |||||||||
| interest rate | |||||||||
| monthly payments | |||||||||
| Part a. | Part b. | ||||||||
| Month | Amount owed at beginning | Payment | Amount to Interest | Amount to principle | Amount owed at end | How much sooner will she pay off the loan? | |||
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In: Finance
Date Expense: 43,96, 70, 92, 87, 92, 70, 89, 65, 67, 43, 61, 57, 61, 75, 46, 83, 27, 81, 22, 127, 94, 86, 69, 102, 96, 59, 98, 72, 115, 117, 67, 55, 73, 84, 64, 62, 45, 51, 84, 74, 60, 82, 69, 41, 81, 62, 83, 120, 72, 97, 66
In: Statistics and Probability
It is known that the mean time to solve the puzzle in healthy control children is 60 seconds. Carry out the Wilcoxon signed-rank test on these data to test the null hypothesis that the mean time to solve the puzzle for children with NF1 is the same as for healthy controls.
a) Calculate the value of the test statistic and give the approximate normal distribution of the test statistic under the null hypothesis.
b) Calculate the p-value for the test assuming a two-sided alternative hypothesis.
c) What do you conclude about the time taken by children with NF1 to solve the puzzle compared to healthy controls?
d) Describe in a few sentences how you would calculate a 95% confidence interval for the mean time without assuming any particular parametric model for the data. You do not need to calculate the interval.
Provided data is:-
ID yi
1 51
2 60
3 75
4 43
5 92
6 72
7 49
8 39
9 62
10 127
11 51
12 75
13 69
14 59
15 25
16 58
17 95
18 63
19 91
20 63
21 32
22 50
23 108
24 41
25 93
26 43
27 74
28 50
29 55
30 60
31 62
32 91
33 79
34 71
35 85
36 86
37 78
38 100
39 146
40 62
41 134
42 41
43 40
44 51
45 68
46 59
47 59
48 38
49 66
50 79
51 111
52 69
53 68
54 110
55 69
56 62
57 91
In: Statistics and Probability
. Use StatsDisk
Find the Mean, Median, Variance and Standard Deviation of the data below?
Females
1-6
2-1
3-1
4-4
5-6
6-8
7-2
8-2
9-4
10-5
11-7
12-10
13-6
14-3
15-2
16-1
17-Something
...........
18-1
19-2
20-3
21-5
22-7
23-8
24-2
25-3
26-2
27-2
28-4
29-3
30-4
31-6
32-1
33-1
34-6
35-4
36-4
37-3
38-1
39-1
40-5
41-8
42-1
43-7
44-9
45-2
46-9
47-7
48-8
49-4
............
50-2
51-1
52-Sometimes
53-1
54-2
55-3
56-3
57-3
58-2
59-2
60-4
61-5
62-5
63-2
64-1
65-7
66-2
67-1
68-8
69-8
70-8
71-3
72-4
73-5
74-9
75-9
76-10
77-1
78-2
79-3
................
80-5
81-5
82-3
83-1
84-2
85-6
86-7
87-7
88-1
89-3
90-2
91-4
92-4
93-6
94-6
95-7
96-1
97-3
98-8
99-7
100-5
In: Math