A full-service car wash has an automated exterior conveyor car wash system that does the initial cleaning in a few minutes. However, once the car is through the system, car wash workers hand clean the inside and the outside of the car for approximately 15 to 25 additional minutes. There are enough workers to handle four cars at once during this stage. On a busy day with good weather, the car wash can handle up to 150 cars in a 12-hour time period. However, on rainy days or on certain days of the year, business is slow. Suppose 50 days of work are randomly sampled from the car wash’s records and the number of cars washed each day is recorded. A stem-and-leaf plot of this output is constructed and is given below. Study the plot and write a few sentences describing the number of cars washed per day over this period of work. Note that the stem-and-leaf display is from Minitab, the stems are in the middle column, each leaf is only one digit and is shown in the right column, and the numbers in the left column are cumulative frequencies up to the median and then decumulative thereafter.

From the stem and leaf display, the original raw data can be obtained. For example, the fewest number of cars washed on any given day are ____. The most cars washed on any given day are _____. The modal stems are 3, 4, and 10 in which there are ___ days with each of these numbers. Studying the left column of the Minitab output, it is evident that the median number of cars washed is ____. There are only ___ days in which 90 some cars are washed (90 and 95) and only _____ days in which 130 some cars are washed (133 and 137).

The Thomas Supply Company Inc. is a distributor of gas-powered generators. As with any business, the length of time customers take to pay their invoices is important. Listed below, arranged from smallest to largest, is the time, in days, for a sample of the Thomas Supply Company Inc. invoices.

13 13 13 20 26 27 27 32 34 34 35 35 36 37 38 41 41 41 42 44 44 47 48 50 51 55 56 62 67 82

(Round your answers to 2 decimal places.)

Determine the first and third quartiles.

Determine the second decile and the eighth decile.

Determine the 67th Percdntile.

The monthly membership fees in £s for 22 health clubs are:

32 43 44 22 73 69 48 67 33 56 67

28 78 60 63 32 67 41 65 48 48 77

(A) Arrange these data into a grouped frequency distribution. Use classes £10 wide starting at £20

(B) The monthly membership fees in £s for 17 fitness centres in local authority leisure centres are :

27 50 44 32 31 55 21 36 24  

56 51 55 32 39 42 28 55

Arrange these data into a grouped frequency distribution using the same classes as in (a)

can someone explain why this is wrong: The proportion of middle-aged males and middle-aged females who have committed suicide in 1999 are even and equal (P1=P2). and can you include the Confidence interval, Critical Z, and P-Value?

Middle age= 45-64

In what follows use any of the following tests/procedures: Regression, multiple regressions, confidence intervals, one-sided t-test or two-sided t-test. All the procedures should be done with 5% P-value or 95% confidence interval

Upload CARS data. https://www.limes.one/Content/DataFiles/cars04.txt

SETUP: It is believed that Jaguars’ Highway mileage is different from that of Mercedes. Given the data your job is to confirm or disprove this belief. (CAREFULL: sort the data in order to extract the needed information).

5. What test/procedure did you perform?

• a. One-sided t-test
• b. Two-sided t-test
• c. Regression
• d. ​​Confidence interval

6. What is the P-value/margin of error?

• a. 0.101079174
• b. 1.443714665
• c. 0.050539587
• d. 8.065421
• e. ​​None of these

7. Statistical Interpretation

• a. Since P-value is very small we are confident that the average mpg is above 20.
• b. Since P-value is large we cannot claim that the averages are different.
• c. Since P-value is very small we are confident that the slope of regression line is not zero.
• d. ​​None of these.

8. Conclusion

• a. Yes, I am confident that the above claim is correct.
• b. No, we cannot claim that the above claim is correct.

A 3-month call option on a stock trades at $4.00. A 3-month put option on the same stock trades at $1.50. The current stock price is $40 and the strike price for both options is $38. Assume you buy one call and one put option. Create a table of profits at maturity of the call, the put and the combined position. Use price range of $20 to $50 in increments of $5.

Chapter 06 Homework

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1. Weighted Average Cost Method with Perpetual Inventory

   The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows:

   Date		Transaction	Number of Units		Per Unit		Total
   Apr. 3		Inventory	25		$1,200		$30,000
   8		Purchase	75		1,240		93,000
   11		Sale	40		2,000		80,000
   30		Sale	30		2,000		60,000
   May 8		Purchase	60		1,260		75,600
   10		Sale	50		2,000		100,000
   19		Sale	20		2,000		40,000
   28		Purchase	80		1,260		100,800
   June 5		Sale	40		2,250		90,000
   16		Sale	25		2,250		56,250
   21		Purchase	35		1,264		44,240
   28		Sale	44		2,250		99,000

   Required:

   1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method.

   Dunne Co. Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended June 30
   	Purchases			Cost of Goods Sold			Inventory
   Date	Quantity	Unit Cost	Total Cost	Quantity	Unit Cost	Total Cost	Quantity	Unit Cost	Total Cost
   Apr. 3								$	$
   Apr. 8		$	$
   Apr. 11					$	$
   Apr. 30
   May 8
   May 10
   May 19
   May 28
   June 5
   June 16
   June 21
   June 28
   June 30	Balances					$			$

   2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period.

   Total sales	$
   Total cost of goods sold	$
   Gross profit	$

   3. Determine the ending inventory cost on June 30.
   $

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   1. When the perpetual inventory system is used, revenue is recorded each time a sale is made along with an entry to record the cost of the goods sold. Under the weighted average method the average unit cost must be determined after each purchase by dividing the total of cost of goods on hand by the total units on hand. The cost of merchandise goods sold is computed multiplying the average unit cost on the date of sales by the units sold. The inventory balance after a sale is computed by multiplying the average unit cost by the units on hand.

   2. Total sales are obtained by taking the number of units sold times their sale prices for all sales and adding these amounts together. The total cost of goods sold can be obtained by adding the weighted average costs in the perpetual inventory record. Sales minus cost of goods sold equals gross profit.

   3. The ending inventory cost can be taken from the perpetual inventory record in Part (1).

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Alex's favorite soccer team is Manchester United. When the last new Manchester United jersey became available for sale to the public, Alex was willing to pay $90 for it. However, he was able to buy one for a price of $40. Based on this information, how much consumer surplus did Alex receive from his purchase of the jersey?

The following is the preadjusted trial balance of Grandtown Hospital at December 31, 20X1, the end of the hospital’s current fiscal year:

Acct.

101 Cash $ 37,500

102 Temporary investments 30,000

103 Accrued interest receivable -0-

104 Accounts receivable 120,000

105 Allowance for uncollectible accounts $ -0-

106 Inventory 14,000

107 Prepaid insurance 3,600

120 Land 25,000

130 Buildings 250,000

131 Accumulated depreciation—buildings -0-

140 Equipment 140,000

141 Accumulated depreciation—equipment -0-

201 Accounts payable 37,400

203 Accrued interest payable -0-

204 Accrued salaries and wages payable -0-

205 Deferred rental income 2,700

250 Bonds payable 150,000

301 Hospital net assets 395,700

302 Revenue and expense summary -0-

401 Routine services revenue 171,200

402 Ancillary services revenue 110,300

403 Interest income -0-

404 Rental income -0-

406 Other operating revenues 23,500

501 Contractual adjustments 22,700

502 Charity care adjustments 31,100

601 Salaries and wages expense 155,600

602 Supplies expense 33,100

603 Utilities expense 14,900

604 Insurance expense -0-

605 Repairs expense 6,400

607 Depreciation expense -0-

608 Interest expense 4,500

609 Bad debt expense -0-

610 Other expenses 2,400

Totals $890,800

The following additional information is available:

1. The temporary investment consists of $30,000 (face value) of 8 percent bonds acquired by the hospital on November 1, 20X1. These bonds pay interest annually on November 1, commencing on November 1, 20X2.

2. Of the December 31, 20X1, accounts receivable, it is estimated that 14 percent will eventually prove uncollectible by reason of (1) charity care, 7 percent; (2) contractual adjustments, 4 percent; and (3) bad debts, 3 percent.

3. A two-year insurance premium of $3,600 was paid in advance by the hospital on January 1, 20X1.

4. The hospital building, which was acquired on January 1, 20X1, has an estimated useful life of 50 years and a 20 percent salvage value.

5. The equipment, which was acquired on January 1, 20X1, has an estimated useful life of 12 years and a $20,000 salvage value. 6. On January 1, 20X1, the hospital issued $150,000 of 20-year, 6 percent bonds at face value. These bonds pay interest semiannually on January 1 and July 1, commencing July 1, 20X1.

7. Unpaid salaries and wages at December 31, 20X1, amounted to $12,300.

8. The hospital received one year’s rent of $2,700 in advance on June 1, 20X1.

Required: (1) Prepare a worksheet to develop financial statements in the manner illustrated in Figure 8.3. (2) Prepare, in good form, a complete set of financial statements for 20X1. (3) Prepare, in general journal form, the necessary adjusting entries at December 31, 20X1, for the year then ended. (4) Prepare, in general journal form, the necessary closing entries on December 31, 20X1, for the year then ended.