The shape of the distribution of the time required to get an oil change at a 10​-minute oil-change facility is unknown. However, records indicate that the mean time is 11.8 minutes​, and the standard deviation is 4.9 minutes. Complete parts ​(a) through (c).

​(a) To compute probabilities regarding the sample mean using the normal​ model, what size sample would be​ required?

A. The sample size needs to be less than or equal to 30.

B. Any sample size could be used.

C. The sample size needs to be greater than or equal to 30.

D. The normal model cannot be used if the shape of the distribution is unknown.

​(b) What is the probability that a random sample of n=35 oil changes results in a sample mean time less than 10 minutes?​

​(c) Suppose the manager agrees to pay each employee a​ $50 bonus if they meet a certain goal. On a typical​ Saturday, the​ oil-change facility will perform 35 oil changes between 10 A.M. and 12 P.M. Treating this as a random​ sample, there would be a​ 10% chance of the mean​ oil-change time being at or below what​ value? This will be the goal established by the manager. There is a​ 10% chance of being at or below a mean​ oil-change time of blank minutes.

2. An ordinary demand curve contains both substitution and income effects, while a compensated demand curve contains only income effects. True or False

5. The substitution and income effects are in opposition when the price of an inferior good changes. True or False

7. Since the quantity of good X is measured along the horizontal axis when drawing indifference curves and demand curves, both can be drawn in the same diagram. True or False

8. When the price of a good rises, the income effect always reduces the quantity demanded of the good. True or False

12. Parallel shifts in the budget line are considered when deriving the demand curve for a good. True or False

14. A parallel shift in the budget line is caused by changes in the relative prices of the two goods. True or False

21. An inferior good is one for which the substitution effect is relatively large. True or False

Thank you in advance to whomever gets stuck helping me! True and false questions are my weakest point of test taking. It's the "never, sometimes, always" language that really messes me up. It's also 3am and my brain is starting to not work. Thank you again!

1. Which of the following apply to nylon?  One or more answers are correct and you will receive negative points for incorrect answers.

Administrators of a computer system are gathering data to try to explain the number of interruptions in their network. For a sample of 22 days, they measured the number of interruptions per day and the daily usage (measured by the average number of users of the system per hour of that day). Fit an appropriate regression model to predict the number of interruptions based on the usage. Assess the fit of the model. Formally assess whether usage is a significant predictor of mean interruptions, providing numerical justification (test statistic and P-value) for your conclusion. Carefully interpret what the estimated model tells you about how the expected number of interruptions changes as the daily usage changes. Predict the

expected number of interruptions for a day that has 150 users per hour on average, using a point estimate and a 95% interval.

SAS code:

DATA four;
INPUT interruptions usage;
cards;
0 104.2
2 124.6
5 176.3
6 169.3
1 104.6
2 115.8
3 127.8
6 179.4
8 210.5
4 126.7
0 100.5
1 119.5
1 123.8
0 106.4
4 156.7
3 148.2
5 156.2
6 167.3
8 198.2
2 124.6
3 145.9
4 156.2
;
run;

Mike and his advertisement team have created an advertisement plan for a new flavor of soda. Right now, approximately 16% of soda drinkers are purchasing this flavor. Mike needs to show his bosses that his advertisement plan will increase the percentage of soda drinkers purchasing this flavor. If Mike's Advertising team succeeds in increasing the percentage of customers that prefer this flavor,then the company will increase supply and make more of the soda to meet demand. If not,then the company will keep the supply as it currently is. After the advertising changes,Mike Takes Random Sample Of Customers To Determine If The percentage of soda drinkers that like the new flavor has increased. (They are currently using a 5% significance level). ??0: p=0.16 (The company will not increase production of the flavor of soda.) ????: p>0.16(The company needs to increase production of the new flavor of soda to meet the increased demand.) a) Write a description of a type 1 error and possible consequences of that error in the context of the problem. b) Write a description of a type 2 error and possible consequences of that error in the context of the problem. c) Would you recommend any changes to the significance level sample size based on what you know about the type 1 and type 2 errors in this problem? Explain

Bonita Company commonly issues long-term notes payable to its various lenders. Bonita has had a pretty good credit rating such that its effective borrowing rate is quite low (less than 8% on an annual basis). Bonita has elected to use the fair value option for the long-term notes issued to Barclay’s Bank and has the following data related to the carrying and fair value for these notes. Any changes in fair value are due to changes in market rates, not credit risk. Carrying Value Fair Value December 31, 2020 $55,500 $55,500 December 31, 2021 47,000 45,600 December 31, 2022 34,600 36,400

(a) Prepare the journal entry at December 31 (Bonita’s year-end) for 2020, 2021, and 2022, to record the fair value option for these notes. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(b) At what amount will the note be reported on Bonita’s 2021 balance sheet?

(c) What is the effect of recording the fair value option on these notes on Bonita’s 2022 income? GAIN OR LOSS OF $ ______

Administrators of a computer system are gathering data to try to explain the number of
interruptions in their network. For a sample of 22 days, they measured the number of
interruptions per day and the daily usage (measured by the average number of users of the
system per hour of that day). Fit an appropriate regression model to predict the number of
interruptions based on the usage. Assess the fit of the model. Formally assess whether usage
is a significant predictor of mean interruptions, providing numerical justification (test statistic and
P-value) for your conclusion. Carefully interpret what the estimated model tells you about how
the expected number of interruptions changes as the daily usage changes. Predict the
expected number of interruptions for a day that has 150 users per hour on average, using a
point estimate and a 95% interval.

DATA four;
INPUT interruptions usage;
cards;
0 104.2
2 124.6
5 176.3
6 169.3
1 104.6
2 115.8
3 127.8
6 179.4
8 210.5
4 126.7
0 100.5
1 119.5
1 123.8
0 106.4
4 156.7
3 148.2
5 156.2
6 167.3
8 198.2
2 124.6
3 145.9
4 156.2
;
run;

Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.)

$800 per year for 10 years at 10%.

$400 per year for 5 years at 5%.

$800 per year for 5 years at 0%.

Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.

Future value of $800 per year for 10 years at 10%:

Future value of $400 per year for 5 years at 5%:

Future value of $800 per year for 5 years at 0%:

Find the present value of the following ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press PV, and find the PV of the annuity due.) Do not round intermediate calculations. Round your answers to the nearest cent.

1. $800 per year for 10 years at 6%.

   $ ---------

2. $400 per year for 5 years at 3%.

   $ -----------

3. $800 per year for 5 years at 0%.

   $ ----------

4. Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.

   Present value of $800 per year for 10 years at 6%: $ --------

   Present value of $400 per year for 5 years at 3%: $ ------------

   Present value of $800 per year for 5 years at 0%: $ ---------

ECONOMICS

Kindly answer the following:

Explain what decisions and calculations a very foresighted consumer must make to determine her consumption decisions in any period.

Explain why current consumption is likely to respond less than one for one to changes in current income.

Suppose individuals expect future output to be higher and future interest rates to be higher. Given this information, how will individuals alter consumption in the current period? Explain.

Suppose individuals expect future output to be lower and future interest rates to be lower. Given this information, how will individuals alter consumption in the current period? Explain.

Explain how expectations affect consumption.

Explain how a change in expected future output could affect current output.

Explain why consumption is less volatile than investment.

Are changes in consumption and investment typically occur in the same direction and at roughly the same magnitude? Explain.

Suppose firms expect future output to be higher and future interest rates to be higher. Given this information, how will firms alter investment in the current period? Explain.

Suppose firms expect future output to be lower and future interest rates to be lower. Given this information, how will firms alter investment in the current period? Explain.