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CSAC2320 Statistical Methods in Business & Accounting - Online Winter 2022
Dr. Thomas graduated from West Virginia University with a code value = 1 while Professor Harrison graduated from the Marshall University
with a code value = 2. The scale of measurement likely represented by this information is:
Select one:
a. ratio.
b. nominal.
c. ordinal.
d. interval.
Clear my choice
If A
and B
are independent events with P
(
A
) = 0.20 and P
(
B
) = 0.60, then P
(
A
| B
) is:
Select one:
a. 0.80
b. 0.40
c. 0.60
d. 0.20
Clear my choice
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There are 15 professors in the School of Continuing Studies. Twelve of them have received good evaluations from students, while 3 received
poor evaluations. You will take three courses in the School of Continuing Studies next semester. What is the probability that all of your
professors next semester have received good evaluations?
Select one:
a. 0.516
b. 0.258
c. 0.484
d. 0.242
Clear my choice
Which of the following statements involve descriptive statistics as opposed to inferential statistics?
Select one:
a. The Alcohol, Tobacco and Firearms Department reported that Seattle had 1,825 registered gun dealers in 2013.
b. The FAA samples 425 traffic controllers in order to estimate the percent retiring due to job stress related illness.
c. Based on a sample of 350 professional baseball players, a baseball magazine reported that 23% of the parents of all professional
baseball players did not play baseball.
d. Based on a survey of 380 magazine readers, the magazine reports that 30% of its readers prefer double column articles.
Clear my choice
A hospital finds that 20% of its accounts are at least 60 days in arrears. A random sample of 500 accounts was taken. What is the probability
that fewer than 120 accounts in the sample were at least 60 days in arrears?
Select one:
a. 0.9875
b. 0.5125
c. 0.4875
d. 0.0125
Clear my choice
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Checkout times in a grocery store follow the exponential distribution with a mean time of 6.5 minutes. What is the probability that the
checkout time (T) for the next customer will be less than 5 minutes?
Select one:
a. 0.257
b. 0.950
c. 0.537
d. 0.463
Clear my choice
The strength of the linear relationship between two numerical variables may be measured by the:
Select one:
a. third quartile.
b. interquartile range.
c. correlation coefficient.
d. coefficient of variation.
Clear my choice
Suppose you are told that sales this year are 30% higher than they were six years ago. What has been the average annual increase in sales
over the past six years?
Select one:
a. 3.5%
b. 4.5%
c. 5.0%
d. 4%
Clear my choice
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Over the past 10 years, the return on Stock A has averaged 8.4% with a standard deviation of 2.1%. The return on Stock B has averaged 3.6%
with a standard deviation of 0.9%. Which of the following statements is true?
Select one:
a. Both stocks exhibit the same relative variation.
b. Stock B has smaller relative variation than Stock A.
c. Stock A has smaller relative variation than Stock B.
d. Unable to tell with the given information.
Clear my choice
A variable that can take on a finite and countable number of values is a ________ variable.
Select one:
a. qualitative
b. discrete
c. Poisson
d. continuous
Clear my choice
On average, there are 3.2 defects in a sheet of rolled steel. Assume that the number of defects follows a Poisson distribution. What is the
probability of having exactly three defects in a roll?
Select one:
a. 0.335
b. 0.223
c. 0.412
d. 0.318
Clear my choice
11/26/22, 1:54 PM
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Anita collected a data set on the weights (to the nearest pounds) of all students at her university. The best graph to describe this data is a:
Select one:
a. bar chart
b. scatter plot
c. pie chart
d. histogram
Clear my choice
In an office of 18 people, there are 7 men and 11 women. A subcommittee of four people will be formed from this group. What is the
probability that the subcommittee contains two men and two women?
Select one:
a. 0.755
b. 0.261
c. 0.377
d. 0.522
Clear my choice
In an office of 18 people, there are 7 men and 11 women. A subcommittee of four people will be formed from this group. How many
different ways can you select four people from a group of 18?
Select one:
a. 1,584
b. 3,280
c. 1,386
d. 3,060
Clear my choice
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A measurement scale that rates product quality as either 1 = poor, 2 = average and 3 = good is known as:
Select one:
a. ordinal.
b. ratio.
c. nominal.
d. interval.
Clear my choice
The length of time it takes to assemble a particular electronic component varies from one employee to another. Management has collected
the time (in minutes) it took 20 different employees to assemble the component. The information is summarized in the following frequency
distribution generated by Excel:
Bin
Frequency
Cumulative %
10
1
5.00%
15
9
50.00%
20
1
55.00%
25
7
90.00%
More
2
100.00%
Which of the following statements is true?
Select one:
a. 50% of all the workers took exactly 15 minutes to assemble the component.
b. Eleven workers assembled the component in 20 minutes or less.
c. Seven workers took 25 minutes or longer to assemble the component.
d. 100% of all the workers took longer than 25 minutes to assemble the component.
Clear my choice
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A research project on retention at a large university indicated that 20% of the students had a problem with stress while 25% reported
problems with financial resources and 15% had a problem with both. What is the probability that a particular student has a problem with
either stress or financial resources?
Select one:
a. 0.60
b. 0.45
c. 0.30
d. 0.15
Clear my choice
The probability that a person catches a cold during the cold and flu season is 0.4. Assume that 10 people are chosen at random. What is the
probability that four or more of them will catch a cold?
Select one:
a. 0.715
b. 0.546
c. 0.618
d. 0.312
Clear my choice
A fair coin is flipped 100 times. The probability of obtaining between 40 and 60 heads is approximately:
Select one:
a. 0.7518
b. 0.9544
c. 0.6826
d. 0.9973
Clear my choice
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Investment A has an expected return of 8% with a standard deviation of 2.5%. Investment B has an expected return of 6% with a standard
deviation of 1.2%. Assume you invest equally in both investments and that the rates of return are independent. What is the standard
deviation of the return on your portfolio? Assume that the returns on the two investments are independent.
Select one:
a. 2.77
b. 6.25
c. 7.69
d. 2.50
Clear my choice
A very large logging operation has serious problems keeping their skidders operating properly. The equipment fails at the rate of 3
breakdowns every 48 hours. Assume that x
is time between breakdowns and is exponentially distributed. The probability of a single
breakdown within 24 hours is:
Select one:
a. 0.2231
b. 0.9502
c. 0.0498
d. 0.7769
Clear my choice
What type of graph does a stem-and-leaf resemble when turned vertically?
Select one:
a. histogram
b. line chart
c. scatter plot
d. pie chart
Clear my choice
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Which of the following is an example of a discrete random variable?
Select one:
a. The weight of a package at the post office.
b. The number of cows on a cattle ranch.
c. The distance you can drive in a car with a full tank of gas.
d. The amount of rain that falls over a 24-hour period.
Clear my choice
________ is the continuous probability distribution used most often for economics and business applications.
Select one:
a. Incremental distribution
b. Uniform distribution
c. Normal probability distribution
d. Exponential distribution
Clear my choice
Suppose you are told that the average return on investment for a particular class of investments was 7.8% with a standard deviation of 2.3.
Furthermore, the histogram of the distribution of returns is approximately bell-shaped. We would expect that 95 percent of all of these
investments had a return between what two values?
Select one:
a. 0.9% and 14.7%
b. 3.2% and 12.4%
c. 0% and 15%
d. 5.5% and 10.1%
Clear my choice
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If the probability of occurrence of event A is not affected by the occurrence of event B, then A and B are said to be:
Select one:
a. basic events.
b. mutually exclusive.
c. statistically independent.
d. collectively exhaustive.
Clear my choice
A recent marketing survey related consumers' awareness of a new marketing campaign with their rating of the product. Consumers rated
their awareness as low, medium, or high, and rated the product as poor, fair, or good. The results are presented below:
Awareness
Low
Medium
High
Rating
Poor
0.1
0.15
0.07
Fair
0.06
0.11
0.06
Good
0.07
0.11
0.27
What is the probability that a consumer who ranked the product as fair had a high awareness of the ad campaign?
Select one:
a. 0.40
b. 0.26
c. 0.23
d. 0.06
Clear my choice
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The standard deviation of the sample data 13, 14, 17, and 20 equals:
Select one:
a. 7.98
b. 3.16
c. 9.16
d. 2.74
Clear my choice
You are the webmaster for your firm's web-site. From your records, you know that the probability that a visitor will buy something from your
firm is 0.23. In one day, the number of visitors is 952.
What is the probability that less than 200 of them will buy something from your firm? Use the normal approximation to the binomial.
Select one:
a. 0.0721
b. 0.5721
c. 0.9279
d. 0.4279
Clear my choice
The manager of a local RV sales lot has collected data on the number of RVs sold per month for the last five years. That data is summarized
below:
# of Sales
0
1
2
3
4
5
6
# of Months
2
6
9
13
21
7
2
What is the weighted mean number of sales per month?
Select one:
a. 3.23
b. 3.62
c. 3.31
d. 3.54
Clear my choice
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The amount of time you have to wait at a particular stoplight is uniformly distributed between zero and two minutes. What is the probability
that you have to wait more than 30 seconds for the stoplight?
Select one:
a. 0.25
b. 1.01
c. 0.75
d. 0.50
Clear my choice
A basketball player makes 80 percent of his free throws during the regular season. Consider his next eight free throws. What is the
probability that he will make at least six free throws?
Select one:
a. 0.1468
b. 0.2936
c. 0.7969
d. 0.3355
Clear my choice
A basketball player makes 80 percent of his free throws during the regular season. Consider his next eight free throws. What is the
probability that he will make between four and six (inclusive) free throws?
Select one:
a. 0.6291
b. 0.1468
c. 0.4863
d. 0.4404
Clear my choice
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Investment A
has an expected return of 7.8% with a standard deviation of 2%. Investment B
has an expected return of 7.2% with a standard
deviation of 3.1%. Which stock is more likely to have a return greater than 10%?
Select one:
a. Stock B
b. The probability is the same for both A
and B
.
c. Stock A
d. Unable to determine.
Clear my choice
Which measures of central location are not affected by extremely small or extremely large data values?
Select one:
a. geometric mean and arithmetic mean
b. median and mode
c. mode and arithmetic mean
d. arithmetic mean and median
Clear my choice
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Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total
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O $17.52.
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A process with no beginning work in process, completed and transferred out 85200 units during a period and had 50100 units in the
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O 95220 equivalent units.
O 135300 equivalent units.
O 70200 equivalent units.
O 85200 equivalent units.
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The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2020 are as follows.
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$ 13,000
$32,000
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88,000
3,000
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22,000
17,000
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17,000
11,000
6,000
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$112,000
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$ 15,000
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PROBLEMS OF SEMESTER FINAL TEST 2021
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Thursday : January 21, 2021 --- 80 Minutes
1. In this section we examine three theories of investor preference: The dividend irrelevance
theory. The "bird in the hand" theory, the tax preference theory, which theory is the best?
What is the different of stock dividends, stock splits, and stock repurchase.
2. In the working capital management, we know about cash conversion cycle model. For
problem if average inventories are $3 million and sales are $11 million. If receivables are
S 657.535 and sales are S 11 million. Then, if its cost of goods sold are $9 million per year
and if its accounts payable average $ 657.535. What is the length of the cash conversion
sicle?
3. The ELGRAJO Corporation has capital structure as follow…
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NTEGRATE
FABM1 21-22 WEEK 4 TASK
Learning Competency
• The learners shall be able to illustrate the accounting equation (ABM_FABM11-llb-c-8);
Perform operations involving simple cases with the use of the accounting equation (ABM_FABM11-Illb-c-9)
S.Y. 2021-2022
ARISTOTLE
PARMENIDES
EPICURUS
WEEK 4- LEARNING TASK 3 PAGE 21
Learning Task 3: The following transactions were made during the first month of a single
proprietor's business operation.
1. Mr. Y started a grocery store. He invested P 200,00 as initial investment.
2. He registered his business paying P 1,500 for registration.
3. He paid P 20,000 for store rent applicable for one year.
4. He incurred and paid P25,000 for the repair of the grocery store.
5. He purchased merchandise for sale amounting to P 300,000, paying P
200,000 with the balance to be paid after 60 days.
6. He paid P2,000 for the transportation of the merchandise purchased.
7. He hired a saleslady for a contract of P 5,000 per month salary.
8. He sold P100,000 worth…
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Double-Declining-Balance Depreciation
A building acquired at the beginning of the year at a cost of $1,193,000 has an estimated residual value of $220,000 and an estimated useful life of 40 years.
Determine the following.
a. The double-declining-balance rate
%
b. The double-declining-balance depreciation for the first year
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E Chapter 5 Homework - FINANCIA X
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E Chapter 5 Homework
Question 1 of 6
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Koch Corporation's adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $7,000, Land
$40,000, Patents $12,500, Accounts Receivable $90,000, Prepaid Insurance $5,200, Inventory $30,000, Allowance for Doubtful
Accounts $4,000, and Equity Investments (to be sold in the next quarter) $11,000.
Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)
КОСН СORPORATION
Balance Sheet (Partial)
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Classify the following balance sheet items
under fixed assets, working capital,
shareholders' equity, or net debt: overdraft,
retained earnings, brands, taxes payable,
finished goods inventories, bonds.
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Exercise 9-12 a-b (Part Level Submission)
Oriole Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at
December 31.
Nov. 1
Loaned $23,50Chcash to Manny Lopez on a 12-month, 12% note.
Dec. 11
Sold goods to Ralph Kremer, Inc., receiving a $61,200, 90-day, 10% note.
16
Received a $97,200, 180 day, 8% note in exchange for Joe Fernetti's outstanding accounts receivable.
31
Accrued interest revenue on all notes receivable.
(a)
Your answer is correct.
lournalize the transactions for Oriole Supply Co. (Ignore entries for cost of goods sold.) (Credit account titles are…
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Analysis of Adjusting Entry for Supplies
Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated TB.)
1. Ending inventory of supplies is $95.
(Balance Sheet)
Supplies
540 Adj.
TB
Bal.
(Income Statement)
Supplies Expense
Adj.
2. Amount of supplies used is $280.
(Balance Sheet)
Supplies
TB
330 Adj.
Bal.
(Income Statement)
Supplies Expense
Adj.
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The adjusting entry for supplies is needed to record supplies used in a period and to lower the amount of supplies inventory. The Supplies accou
read the question. In one question you are asked to calculate supplies used. In the other, you are given the amount of supplies used.
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Note Payable and Accrued Interest
Fairborne Company borrowed $600,000 on an 8%, interest-bearing note on October 1, 2023. Fairborne ends its fiscal year on December 31. The note was paid with
interest on May 1, 2024.
Required:
1. Prepare the entry for this note on October 1, 2023. If an amount box does not require an entry, leave it blank.
2023 Oct. 1 Cash
Notes Payable
(Record issuance of note)
Feedback
2. Prepare the adjusting entry for this note on December 31, 2023. If an amount box does not require an entry, leave it blank.
2023 Dec. 31 Interest Expense
Interest Payable
(Record accrued interest)
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3. Indicate how the note and the accrued interest would appear in the balance sheet at December 31, 2023.
Among the current…
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F myCampus Portal Login - for Stu X
B 09 Operational and Legal Consid x
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Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations
09 Operational and Legal Considerations -
>
Calculating Capacity
• How many machines do you need?
• You expect your sales to be
3,000,000 granola bars (20g each)
• How large is your plant?
per month
• How many workers do you need?
The machine:
• How much is the investment?
Capacity: 100 kgs per hour
• What are the operating costs?
Requires 2 people to operate it
Takes 8 ft x 40 ft space
• Cost per machine $15,000
Energy and maintenance: $5 per hour
• Cost of material and packaging:
$0.12 per bar
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1 SSO: Texas A&M University San Antonio
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M Question 6 - Week 13 - Homework #8 (100 points) - Connect
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The December 31, 2024, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.
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Cash
Accounts
Accounts Receivable
Prepaid Rent
Supplies
Land
Accounts Payable
Salaries Payable
Interest Payable
Notes Payable (due in two years)
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Rent Expense
Utilities Expense
Interest Expense
Totals
Required:
Debit
$12,000
Credit
150,000
6,000
30,000
265,000
$12,000
11,000
5,000
40,000
300,000
60,000
500,000
400,000
20,000
40,000
5,000
$928,000
$928,000
1. Prepare an income statement for the year ended December 31, 2024.
2. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during
2024.
3. Prepare a…
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