A consumer product testing organization uses a survey of readers to obtain customer satisfaction ratings for the nation's largest supermarkets. Each survey respondent is asked to rate a specified supermarket based on a variety of factors such as: quality of products, selection, value, checkout efficiency, service, and store layout. An overall satisfaction score summarizes the rating for each respondent with 100 meaning the respondent is completely satisfied in terms of all factors. Suppose sample data representative of independent samples of two supermarkets' customers are shown below.
| Supermarket 1 | Supermarket 2 |
|---|---|
|
n1 = 260 |
n2 = 300 |
|
x1 = 82 |
x2 = 81 |
(a)
Formulate the null and alternative hypotheses to test whether there is a difference between the population mean customer satisfaction scores for the two retailers. (Let μ1 = the population mean satisfaction score for Supermarket 1's customers, and let μ2 = the population mean satisfaction score for Supermarket 2's customers. Enter != for ≠ as needed.)
H0:
Ha:
Assume that experience with the satisfaction rating scale indicates that a population standard deviation of 17 is a reasonable assumption for both retailers. Conduct the hypothesis test.
Calculate the test statistic. (Use
μ1 − μ2.
Round your answer to two decimal places.)
Report the p-value. (Round your answer to four decimal places.)
p-value =
At a 0.05 level of significance what is your conclusion?
Reject H0. There is not sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers.
Do not reject H0. There is not sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers.
Do not reject H0. There is sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers.
Reject H0. There is sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers.
Which retailer, if either, appears to have the greater customer satisfaction?
Supermarket 1Supermarket 2 neither
Provide a 95% confidence interval for the difference between the population mean customer satisfaction scores for the two retailers. (Use
x1 − x2.
Round your answers to two decimal places.)
to
In: Math
A consumer product testing organization uses a survey of readers to obtain customer satisfaction ratings for the nation's largest supermarkets. Each survey respondent is asked to rate a specified supermarket based on a variety of factors such as: quality of products, selection, value, checkout efficiency, service, and store layout. An overall satisfaction score summarizes the rating for each respondent with 100 meaning the respondent is completely satisfied in terms of all factors. Suppose sample data representative of independent samples of two supermarkets' customers are shown below.
| Supermarket 1 | Supermarket 2 |
|---|---|
|
n1 = 280 |
n2 = 300 |
|
x1 = 89 |
x2 = 88 |
(a)
Formulate the null and alternative hypotheses to test whether there is a difference between the population mean customer satisfaction scores for the two retailers. (Let μ1 = the population mean satisfaction score for Supermarket 1's customers, and let μ2 = the population mean satisfaction score for Supermarket 2's customers. Enter != for ≠ as needed.)
H0:
Ha:
(b)
Assume that experience with the satisfaction rating scale indicates that a population standard deviation of 14 is a reasonable assumption for both retailers. Conduct the hypothesis test.
Calculate the test statistic. (Use μ1 − μ2. Round your answer to two decimal places.)
Report the p-value. (Round your answer to four decimal places.)
p-value =
At a 0.05 level of significance what is your conclusion?
Reject H0. There is not sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers.Do not reject H0. There is sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers. Reject H0. There is sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers.Do not reject H0. There is not sufficient evidence to conclude that the population mean satisfaction scores differ for the two retailers.
(c)
Which retailer, if either, appears to have the greater customer satisfaction?
Supermarket 1 Supermarket 2 neither
Provide a 95% confidence interval for the difference between the population mean customer satisfaction scores for the two retailers. (Use x1 − x2.Round your answers to two decimal places.)
_______ to ________
In: Math
Details of Notes Receivable and Related Entries
Gen-X Ads Co. produces advertising videos. During the current year ending December 31, Gen-X Ads received the following notes:
| Date | Face Amount | Term | Interest Rate | ||||
| 1. | Apr. 10 | $84,000 | 60 | days | 4 | % | |
| 2. | June 24 | 18,000 | 30 | days | 6 | ||
| 3. | July 1 | 81,000 | 120 | days | 6 | ||
| 4. | Oct. 31 | 81,000 | 60 | days | 5 | ||
| 5. | Nov. 15 | 90,000 | 60 | days | 6 | ||
| 6. | Dec. 27 | 144,000 | 30 | days | 4 | ||
Required:
Assume 360 days in a year.
1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number.
| Note | (a) Due Date | (b) Interest Due at Maturity | |
| (1) | June 9 | $ | |
| (2) | July 24 | ||
| (3) | Oct. 29 | ||
| (4) | Dec. 30 | ||
| (5) | Jan. 14 | ||
| (6) | Jan. 26 | ||
Feedback
Count the number of days in each month until the total number of days is reached for the term of the note and this will be the due date. Interest is not charged on the first day of the note.
Typically, the maker of a dishonored note fails to pay the note on the due date. A company that holds a dishonored note transfers the face amount of the note plus any interest due back to an accounts receivable account. Interest revenue is not dependent on receiving the interest at this point.
Cash received will include the maturity value of the note.
Learning Objective 6.
2. Journalize the entry to record the dishonor of Note (3) on its due date. If an amount box does not require an entry, leave it blank or enter "0".
| Accounts Receivable | |||
| Notes Receivable | |||
| Interest Revenue |
Feedback
Count the number of days in each month until the total number of days is reached for the term of the note and this will be the due date. Interest is not charged on the first day of the note.
Typically, the maker of a dishonored note fails to pay the note on the due date. A company that holds a dishonored note transfers the face amount of the note plus any interest due back to an accounts receivable account. Interest revenue is not dependent on receiving the interest at this point.
Cash received will include the maturity value of the note.
Learning Objective 6.
3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31.
| Dec. 31 | Interest Receivable | ||
| Interest Revenue |
4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January. If an amount box does not require an entry, leave it blank or enter "0".
| Note 5 | Cash | ||
| Notes Receivable | |||
| Interest Receivable | |||
| Interest Revenue | |||
| Note 6 | Cash | ||
| Notes Receivable | |||
| Interest Receivable | |||
| Interest Revenue |
Feedback
Count the number of days in each month until the total number of days is reached for the term of the note and this will be the due date. Interest is not charged on the first day of the note.
Typically, the maker of a dishonored note fails to pay the note on the due date. A company that holds a dishonored note transfers the face amount of the note plus any interest due back to an accounts receivable account. Interest revenue is not dependent on receiving the interest at this point.
Cash received will include the maturity value of the note.
Learning Objective 6.
In: Accounting
|
You are an executive in a large healthcare company with five lines of business. There are no economies of scope (this will be discussed in a future module). Those lines of business order services (accounting, information technology, and warehousing) from three "service divisions" of the company. You are given the following information for the revenues, direct costs (e.g., costs of production), and capital (e.g., value of the property, plant, and equipment) associated with these five lines of business, as well as the total variable costs from the three 'internal services' divisions. (You are ignoring fixed corporate overhead costs which will not change with a change in the size of the company.) All dollar amounts are in millions of dollars.
As an executive in this company you are concerned with the following: (1) the businesses have little incentive to reduce their request for services from the three service divisions; (2) the service divisions are unable to tie their requested budgets to the value of their services; and (3) some of the businesses may have low returns on capital and should be sold off. To initially address these issues you are imposing an internal pricing system, where each of the three service divisions charges the businesses for the services provided. The expected percentage allocation of the variable costs from each to service division to each business are given in the matrix below. Notice that the sum of any allocations from a service division sum to 1.0.
Use this information to allocate the service divsions' variable costs to the five businesses. Recalculate the return on capital for each of the five businesses. You will enter this information, to three decimal places, in Moodle. Suppose that the market rate of return for similarly risky investments is 14 percent. If you took the approach of Goizueta at Coca-Cola, which businesses should be sold? |
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In: Accounting
In: Accounting
It is estimated that amounts of money spent on gasoline by customers at a gas station in Bristol, Englands, follow a normal distribution with a standard deviation of £3,4. It is also found that 5% of all the customers spent more than £30. What percentage of customers spent less than £25? (explain with steps)
In: Statistics and Probability
In their attempt to leverage data on their users, firms are using a variety of techniques to best target their products/services to prospective customers. Such initiatives could impact the privacy of customers by being too intrusive. What can customers do about such intrusions? What can firms do to alleviate such concerns?
In: Computer Science
1. Suppose the age of the customers at post office has a non-normal distribution with mean 40 and standard deviation 5 years.
i. Select 100 customers at random. What is the distribution of their average age? Describe its shape, it’s mean, and standard error.
ii. What is the chance that the average age for 100 customers from the post office is over 41?
iii. Would you take the same approach to the previous two parts if you had a sample of only 2 customers?
In: Statistics and Probability
The manager of store A is aware that waiting times are much longer if the customer makes an order with a special request. From past experience this occurs 20% of the time. If we monitor the next 10 customers,
(a) What is the probability that half or more of these customers make a special request?
(b) What assumptions do you need to make to find this probability? Out of the next 100 customers,
(c) There is a probability of 90% that the number of customers make a special request equals or exceeds what value?
In: Statistics and Probability
an electronics store sends out a survey to seven new customers
to determine if they are satisfied with their purchase. Assume the
probability a customer will be satisfied is 0.7.
a. What is the mean number of customers that will be satisfied?
b. What is the standard deviation of the number of customers satisfied? 4. What is the probability of exactly five customers being satisfied?
c. What is the probability of at least one customer being satisfied? (Hint: use the compliment of “at least one”. Give the answer to seven places to the right of the decimal point
In: Statistics and Probability