Provide the journal entry for the following:
1) Two insurance policies provide the insurance coverage for the law firm. Policy one was purchased on July 1, last year for $2,064 and provides 24 months of liability coverage. Policy two was purchased on January 2, this year for $1,260 and is also a 24 month policy covering the business equipment.
2) Accrued interest on all short-term and long-term notes payable totals $425 for the quarter.
3) The automobile used by the business cost $30,500. It is estimated that this vehicle will depreciated to a salvage value of $4,500 over 5 year period. This is a net cost of $26,000 that will be depreciated over 60 months at $5,200 per year.
In: Accounting
Assuming that the population is normally distributed, construct a 90% confidence interval for the population mean for each of the samples below. Explain why these two samples produce different confidence intervals even though they have the same mean and range.
|
Sample A: |
1 1 4 4 5 5 8 8 |
|
|---|---|---|
|
Sample B: |
1 2 3 4 5 6 7 8 |
a. Construct a 90% confidence interval for the population mean for sample A
b. Construct a 90% confidence interval for the population mean for sample B
Explain why these two samples produce different confidence intervals even though they have the same mean and range.
A.The samples produce different confidence intervals because their sample sizes are different.
B.The samples produce different confidence intervals because their critical values are different.
C.The samples produce different confidence intervals because their standard deviations are different.
D.The samples produce different confidence intervals because their medians are different.
In: Statistics and Probability
a) A random sample of 10 hot drinks from Dispenser C had a mean
volume of 203 ml and a standard deviation of 3 ml. A random sample
of 15 hot drinks from Dispenser F gave corresponding values of 206
ml and 5 ml. The amount dispensed by each machine may be assumed to
normally distributed.
i) At 10% level of significance, test the hypothesis that there is
no difference in the ratio of variances volume dispensed by the two
machines.
ii) Test at 10% level of significance, the hypothesis that there is
no difference in the mean volume dispensed by the two machines.
A sociologist wishes to see whether the number of years of
college a person has completed is related to her or his place of
residence. A sample of 88 people is selected and classified as
shown.
Location
No college
Four-year degree
Advanced degree
Urban
15
12
8
Suburban
8
15
9
Rural
6
8
7
Use α = 0.10, test whether a person’s location is dependent on the
number of years of college.
In: Statistics and Probability
The International Air Transport Association surveys business travelers to develop quality ratings for transatlantic gateway airports. The maximum possible rating is 10. Suppose a simple random sample of business travelers is selected and each traveler is asked to provide a rating for the Miami International Airport. The ratings obtained from the sample of business travelers follow.
| 8 | 8 | 4 | 0 | 5 | 5 | 5 | 4 | 4 | 4 | 4 | 3 | 10 |
| 6 | 10 | 10 | 0 | 8 | 5 | 4 | 3 | 2 | 4 | 7 | 8 | 9 |
| 10 | 8 | 4 | 5 | 5 | 4 | 4 | 3 | 8 | 9 | 9 | 5 | 3 |
| 9 | 8 | 8 | 5 | 10 | 4 | 10 | 5 | 5 | 3 | 3 |
Develop a confidence interval estimate of the population mean rating for Miami. Round your answers to two decimal places.
In: Statistics and Probability
You currently have $1, 000 in an account which pays a nominal
rate of interest of 8% compounded quarterly. You plan to deposit
$200 every two months with the first deposit one month from now.
What will be the value of the account one month after the
eighteenth deposit?
The answer is 5,331.95 but I dont know how to get it.
In: Finance
If you needed to compare two simulated scenarios, and in one of them a self-driving car is braking up to -3 meters per second squared, in another up to -8 meters per second squared (unit of acceleration), which one do you think is more risky? Please explain your answer or how you arrived to this conclusion.
In: Advanced Math
Consider a Ricardian model. There are two countries called Australia and New Zealand and two goods called beer and cheese. In Australia the unit labour requirement for a beer is 10 hours and for a cheese is 10 hours. In New Zealand the unit labour requirement for a beer is 4 hour and for a cheese is 1 hour. Australia has an endowment of 2000 hours of labour. New Zealand has an endowment of 400 hours of labour.
1 Draw a production possibility frontier (PPF) diagram for Australia and a PPF diagram for New Zealand. Cheese must be on the vertical axis and beer must be on the horizontal axis.
2 For both countries state the opportunity cost of producing a beer.
3 Suppose now that we have trade between the countries and the world price is 2 cheeses for 1 beer. For each country draw in the budget constraint. For each country label the production point on the diagram.
4 Denote the world prices in dollars as PB and PC respectively. Denote the respective quantities of beer and cheese consumed in New Zealand (following trade, of course) as DB and DC . Using this notation, write out an expression for the value of consumption in New Zealand. [Just a one-line answer]
5 Write out the budget constraint for New Zealand. That is, set the value of consumption equal to the value of production. [Again just a one-line answer]
6 Rearrange the budget constraint, showing all the steps, so that DC is on the left-hand side and everything else is on the right-hand side so the vertical intercept and slope are apparent. [Please see the next page]
7 While the ratio of prices is apparent from Question 3, we will assume from here on that PC=$1 and PB=$2. If 100 beers are consumed in New Zealand, how many cheeses will be consumed in New Zealand? Now if only 50 beers are consumed, how many more cheeses will be consumed?
8 For both countries calculate the hourly wage rate once international trade is allowed to take place (obviously for each country there can only be one wage rate in this model).
In: Economics
The restaurant owner Lobster Jack wants to find out what the peak demand periods are, during the hours of operation, in order to be better prepared to serve his customers. He thinks that, on average, 60% of the daily customers come between 6:00pm and 8:59pm (equally distributed in that time) and the remaining 40% of customers come at other times during the operating hours (again equally distributed). He wants to verify if that is true or not, so he asked his staff to write down during one week the number of customers that come into the restaurant at a given hour each day. His staff gave him the following data:
| Time | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Day 6 | Day 7 |
|---|---|---|---|---|---|---|---|
| 5:00pm-5:59pm | 15 | 19 | 21 | 20 | 12 | 15 | 15 |
| 6:00pm-6:59pm | 30 | 23 | 24 | 25 | 28 | 29 | 26 |
| 7:00pm-7:59pm | 36 | 29 | 39 | 35 | 39 | 30 | 32 |
| 8:00pm-8:59pm | 29 | 33 | 23 | 29 | 24 | 32 | 27 |
| 9:00pm-9:59pm | 21 | 20 | 12 | 19 | 18 | 14 | 20 |
| 10:00pm-10:59pm | 12 | 12 | 15 | 12 | 10 | 15 | 14 |
| 11:00pm-11:59pm | 8 | 7 | 9 | 10 | 12 | 12 | 9 |
Help the manager figure out if his instincts are correct or not. Use a Chi-Squared test to see if the observed distribution is similar to the expected. Use the average demand for a given time as your observed value.
In: Operations Management
100 moles of a mixture containing 45.9 wt% methane and remainder propane are burned with 40% excess oxygen. There is 80% conversion of both methane and propane. Given MWs: CH4= 16, C3H8= 44, O2= 32, H2O = 18, CO2= 44
a) Balance the following reactions:____ CH4 + ____ O2 -->____ CO2+ ____ H2O
____ C3H8 + ____ O2--->____ CO2 + ____ H2O (I understand this and have it correct)
b) How many moles of O2 must be supplied for 80% conversion of both methane and propane?
c) What is the exit composition of the combustion reactor in mole percents?
PLEASE SHOW ALL WORK LEADING TO ALL CALCULATED VALUES
In: Other
A 25.0 mL sample of 0.125 molL−1 pyridine (Kb=1.7×10−9) is titrated with 0.100 molL−1HCl.
Calculate the pH at one-half equivalence point.
Calculate the pH at 40 mL of added acid.
Calculate the pH at 50 mL of added acid.
In: Chemistry