USA Today reported that approximately 25% of all state prison inmates released on parole become repeat offenders while on parole. Suppose the parole board is examining five prisoners up for parole. Let x = number of prisoners out of five on parole who become repeat offenders.

(a) Find the probability that one or more of the five parolees will be repeat offenders. (Round your answer to three decimal places.)


How does this number relate to the probability that none of the parolees will be repeat offenders?

These probabilities are not related to each other.This is twice the probability of no repeat offenders.     This is five times the probability of no repeat offenders.These probabilities are the same.This is the complement of the probability of no repeat offenders.

(b) Find the probability that two or more of the five parolees will be repeat offenders. (Round your answer to three decimal places.)


(c) Find the probability that four or more of the five parolees will be repeat offenders. (Round your answer to three decimal places.)


(d) Compute μ, the expected number of repeat offenders out of five. (Round your answer to three decimal places.)
μ =  prisoners

(e) Compute σ, the standard deviation of the number of repeat offenders out of five. (Round your answer to two decimal places.)
σ =  prisoners

The college student senate is sponsoring a spring break Caribbean cruise raffle. The proceeds are to be donated to the Samaritan Center for the Homeless. A local travel agency donated the cruise, valued at $2000. The students sold 2034 raffle tickets at $5 per ticket.

(a) Kevin bought nineteen tickets. What is the probability that Kevin will win the spring break cruise to the Caribbean? (Round your answer to five decimal places.)


What is the probability that Kevin will not win the cruise? (Round your answer to five decimal places.)


(b) Expected earnings can be found by multiplying the value of the cruise by the probability that Kevin will win. What are Kevin's expected earnings? (Round your answer to two decimal places.)
$  

Is this more or less than the amount Kevin paid for the nineteen tickets?
---Select--- more less

How much did Kevin effectively contribute to the Samaritan Center for the Homeless? (Round your answer to two decimal places.)
$

Sailing Voyages Inc. is a company operated by an individual as a summer tourist attraction on the Great Lakes. It operates a sailing schooner offering day cruises for individuals and groups. Over the last few years, the average number of tourists per cruise was 30. The average charge per person for the cruise including group discounts was $100. The company operates from mid-May until mid-September. On average, the ship sails 100 days during this period. ‘The Canadian’ (the name of the schooner) requires a crew of 6, and is captained by the owner of the company. University students with extensive sailing experience have been willing to work on a per diem basis of $100. They are paid only if the ship is cruising. The ship provides non-alcoholic refreshments and a light lunch. These are acquired daily from a local delicatessen and cost, on average, $25 per person. The daily operating expenses fuel and miscellaneous supplies average $50 per cruise. The company has a variety of annual expenses including: maintenance, depreciation, marketing, licenses, etc., totaling approximately $85,000. Required: Prepare an Excel Workbook to answer the following questions in a professional manner. Ensure that you are utilizing Excel features (including links between spreadsheets, formulas, formatting, graphing).

1. Compute the revenue and variable costs for each cruise. Use this to compute the contribution margin per cruise.

2. Compute the number of cruises that ‘Canadian’ must have each year to break-even. Use your knowledge gained in this course to show the different formulas, graphs etc for break-even analysis.

3. The owner expects a total return on capital and remuneration of $125,000. Using the concept of ‘contribution margin’, cost-volume-profit, and target profit calculations, estimate how many cruises the Canadian needs to make to reach this objective. Is this a realistic expectation? Add your thoughts, proposals, and recommendations.

4. Prepare a contribution margin income statement for Sailing Voyages Inc. If the owner wishes to adjust or achieve his income goal, what changes can he make? How can these changes be easily estimated and projected to show how these changes affect net income. Use your imagination, and your knowledge of cost-volume-profit analysis. Highlight your ideas by utilizing the various graphing tools in Excel.

C++ Program

--------------------

Project 5-1: Monthly Sales

Create a program that reads the sales for 12 months from a file and calculates the total yearly sales as well as the average monthly sales.

Console

Monthly Sales

COMMAND MENU

m - View monthly sales

y - View yearly summary

x - Exit program

Command: m

MONTHLY SALES

Jan        14317.41

Feb         3903.32

Mar         1073.01

Apr         3463.28

May         2429.52

Jun         4324.70

Jul         9762.31

Aug        25578.39

Sep         2437.95

Oct         6735.63

Nov          288.11

Dec         2497.49

Command: y

YEARLY SUMMARY

Yearly total:           76811.12

Monthly average:         6400.93

Command: x

Bye!

Specifications

• Your instructor should provide a tab-delimited file named monthly_sales.txt that contains the month and sales data shown above.
• Round the results of the monthly average to a maximum of 2 decimal digits and make sure that a minimum of 2 decimal digits are displayed on the console.
• Right-align the columns that display the monthly sales, the yearly total, and the monthly average.

Note for Xcode users

• To get this to work correctly on your system, you can set a full path to the file in your code, or you can change the working directory for the Xcode project to the directory that contains the text file.
• To change the working directory for the Xcode project, open the project and select the ProductàSchemeàEdit Scheme item. Then, select the Run category, check the Use Custom Working Directory box, and specify the working directory.

Text file

-----------------------

Jan   14317.41
Feb   3903.32
Mar   1073.01
Apr   3463.28
May   2429.52
Jun   4324.70
Jul   9762.31
Aug   25578.39
Sep   2437.95
Oct   6735.63
Nov   288.11
Dec   2497.49

A magazine is considering the launch of an online edition. The magazine plans to go ahead only if it is convinced that more than 20​% of current readers would subscribe. The magazine contacted a simple random sample of 400 current​ subscribers, and 90 of those surveyed expressed interest. What should the company​ do? Test appropriate hypotheses and state your conclusion.

Are the assumptions and the conditions to perform a​ one-proportion z-test​ met? Yes No

State the null and alternative hypotheses. Choose the correct answer below.

A. H0​: pequals0.2 HA​: pgreater than0.2

B. H0​: pequals0.2 HA​: pless than0.2

C. H0​: pequals0.2 HA​: pnot equals0.2

D. The assumptions and conditions are not​ met, so the test cannot proceed.

Determine the​ z-test statistic. Select the correct choice below​ and, if​ necessary, fill in the answer box to complete your choice.

A. zequals nothing ​(Round to two decimal places as​ needed.)

B. The assumptions and conditions are not​ met, so the test cannot proceed.

Find the​ P-value. Select the correct choice below​ and, if​ necessary, fill in the answer box to complete your choice.

A. ​P-valueequals nothing ​(Round to four decimal places as​ needed.)

B. The assumptions and conditions are not​ met, so the test cannot proceed.

What is your​ conclusion? Choose the correct answer below.

A. Since the​ P-value was low​, reject H0.

B. Since the​ P-value was high​, fail to reject H0.

C. The assumptions and conditions are not​ met, so the test cannot proceed.

What should the company​ do? Choose the correct answer below.

A) The survey results would not be useful if less than 20% of the current readers were interested. The company should bot launch the online edition.

B) The survey results would be highly unusual if less than 20% of the current readers were interested. The company should not launch the online edition.

C) The survey results would not be unusual if less than %20 of the current readers were interested. The company should launch the online edition.

D) The assumptions and conditions are not met, so the test is not valid.

A magazine is considering the launch of an online edition. The magazine plans to go ahead only if it is convinced that more than 20​% of current readers would subscribe. The magazine contacted a simple random sample of 400 current​ subscribers, and 102 of those surveyed expressed interest. What should the company​ do? Test appropriate hypotheses and state your conclusion.

Are the assumptions and the conditions to perform a​ one-proportion z-test​ met?

Yes or No

State the null and alternative hypotheses. Choose the correct answer below.

A. H0​: p equals=0.20.2

HA​: p not equals≠0.20.2

B. H0​:p equals=0.20.2

HA​:p less than<0.20.2

C. H0​:p equals=0.20.2

HA​: p greater than>0.20.2

D.The assumptions and conditions are not​ met, so the test cannot proceed.

Determine the​ z-test statistic. Select the correct choice below​ and, if​ necessary, fill in the answer box to complete your choice.

A. z equals=nothing

​(Round to two decimal places as​ needed.)

B. The assumptions and conditions are not​ met, so the test cannot proceed.

Find the​ P-value. Select the correct choice below​ and, if​ necessary, fill in the answer box to complete your choice.

A. ​P-value equals=nothing

​(Round to four decimal places as​ needed.)

B. The assumptions and conditions are not​ met, so the test cannot proceed.

2. The Precision Door Company sold 2,200 doors during 2018 at $160 per door. Its beginning inventory on January 1 was 130 doors at $56. Purchases made during the year were as follows:

February 225 doors at $62

April 350 doors at $65

June 700 doors at $70

August 300 doors at $66

October 400 doors at $68

November 250 doors at $72

Compute the COGS and Ending Inventory under each of the following inventory cost flow assumptions: (a) Simple Weighted Average, (b) FIFO, (c) LIFO.

The Finishing Department of Pinnacle Manufacturing Co. prepared the following factory overhead cost budget for October of the current year, during which it expected to operate at a 100% capacity of 10,000 machine hours.

During October, the plant was operated for 9,000 machine hours and the factory overhead costs incurred were as follows: indirect factory wages, $16,400; power and light, $10,000; indirect materials, $3,000; supervisory salaries, $12,000; depreciation of plant and equipment, $8,800; and insurance and property taxes, $3,200.

Prepare a factory overhead cost variance report for October. (The budgeted amounts for actual amount produced should be based on 9,000 machine hours.)

Enter favorable variances as negative numbers.

Required information [The following information applies to the questions displayed below.] On October 29, Lobo Co. began operations by purchasing razors for resale. The razors have a 90-day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $14 and its retail selling price is $60. The company expects warranty costs to equal 8% of dollar sales. The following transactions occurred. Nov. 11 Sold 70 razors for $4,200 cash. 30 Recognized warranty expense related to November sales with an adjusting entry. Dec. 9 Replaced 14 razors that were returned under the warranty. 16 Sold 210 razors for $12,600 cash. 29 Replaced 28 razors that were returned under the warranty. 31 Recognized warranty expense related to December sales with an adjusting entry. Jan. 5 Sold 140 razors for $8,400 cash. 17 Replaced 33 razors that were returned under the warranty. 31 Recognized warranty expense related to January sales with an adjusting entry. 1. Prepare journal entries to record above transactions and adjustments.

Record the sales revenue of 70 razors for $4,200 cash.

Record the cost of goods sold for 70 razors.

Record the estimated warranty expense at 8% of November sales.

Record the replacement of 14 razors that were returned under the warranty.

Record the sales revenue of 210 razors for $12,600 cash.

Record the cost of goods sold for 210 razors.

Record the replacement of 28 razors that were returned under the warranty.

Record the estimated warranty expense at 8% of December sales.

Record the sales revenue of 140 razors for $8,400 cash.

Record the cost of goods sold for 140 razors.

Record the replacement of 33 razors that were returned under the warranty.

Record the adjusting entry for warranty expense for the month of January.

On October 29, 2014, Lobo Co. began operations by purchasing razors for resale. Lobo uses the perpetual inventory method. The razors have a 90-day warranty that requires the company to replace any nonworking razor. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company’s cost per new razor is $20 and its retail selling price is $75 in both 2014 and 2015. The manufacturer has advised the company to expect warranty costs to equal 8% of dollar sales. The following transactions and events occurred. 2014 Nov. 11 Sold 105 razors for $7,875 cash. 30 Recognized warranty expense related to November sales with an adjusting entry. Dec. 9 Replaced 15 razors that were returned under the warranty. 16 Sold 220 razors for $16,500 cash. 29 Replaced 30 razors that were returned under the warranty. 31 Recognized warranty expense related to December sales with an adjusting entry. 2015 Jan. 5 Sold 150 razors for $11,250 cash. 17 Replaced 50 razors that were returned under the warranty. 31 Recognized warranty expense related to January sales with an adjusting entry. 1.1 Prepare journal entries to record above transactions and adjustments for 2014.

On October 1, 2018, Bullseye Company sold 250,000 gallons of diesel fuel to Schmidt Co. at $3 per gallon. On November 8, 2018, 150,000 gallons were delivered; on December 27, 2018. Another 50,000 gallons were delivered; and on January 15, 2019, the remaining 50,000 gallons were delivered. Payment terms are 10% due on October 1, 2018, 50% due on first Delivery; 20% due on the next delivery; and the remaining 20% due on final delivery.

1. Do each of the three deliveries represent a distinct performance obligation, or is there a single performance obligation requiring three deliveries?

2. What amount of revenue should bullseye recognize from this sale during 2018?