A company is trying to decide if they should make a bid on a project that would generate 450,000 in profit. It will cost $100,000 to develop the bid and they will have a 35% chance of winning the contract. What is the expected net profit (project profit less bid development cost) associated with making the bid?

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If a household has 3 members, and has an annual income of $100,000, predict this household’s monthly spending.

A business executive realizes that he is out of shape so he begins an exercise program in which he jogs daily and each day thereafter jogs 3% more miles than he did on the previous day. The program will be complete when he has jogged a total of at least 66 miles. If he jogs 3 miles on the first day, what is the minimum number of days he will have to exercise to complete the program?

Janus Seagull had a car accident and was out of work for a year. Janus believes that the accident was caused by a vehicle defect. He consulted some lawyers and planned to sue the vehicle manufacturer. During negotiations, the legal team of the vehicle manufacturer offered a $700K settlement. However, Janus needs to settle the $100K in legal fees. Janus asked his lawyer for advice and the lawyer told him that he has a 50% chance of winning the case. If Janus loses, he will incur legal fees of $75K. If he wins, the full requested settlement is also not guaranteed. The lawyer believes that there is a 50% chance that Janus will receive full settlement of $3 million, of which Janus needs to settle $1 million in legal fees. There is a 50% chance that the jury will award Janus $1 million, of which 50% will be taken up by legal fees.

Please answer the red X's.

According to one study, the average monthly cell phone bill in a certain country is $70 (up 31% since 2009). If an 18-year old student with an average bill gives up his cell phone and each month invests the $70 he would have spent on his phone bill in a savings plan that averages a 4% annual return, how much will he have saved by the time he is 70? He will have saved $by the time heis 70. (Round to the nearest cent as needed.)

Price scanners at the checkout register sometimes make mistakes, charging either more or less than the labeled price. Suppose that a scanner is wrong 4% of the time, with half of the errors in favor of the store and half in favor of the customer. Assume that an error in favor of the store means that the scanned price is 5% above the listed price and an error in favor of the customer means that the scanned price is 5% below the listed price. How would these errors affect the distribution of the prices of sold items? The pricing errors will result in V mean price and V in variation.

Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO − LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method.  Product FIFO (F) LIFO (L) 1 225 221 2 119 100 3 100 113 4 212 200 5 248 245 What is the null hypothesis?   Multiple Choice   H0: µd = 0   H0: µd ≠ 0   H0: µd ≤ 0   H0: µd ≥ 0

Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO (last in first out) or FIFO (first in first out). A manufacturer evaluated its finished goods inventory (in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed FIFO − LIFO for each product. We would like to determine if the LIFO method results in a lower cost of inventory than the FIFO method.   Product FIFO (F) LIFO (L) 1 225 221 2 119 100 3 100 113 4 212 200 5 248 245   a) What are the degrees of freedom? A) 4B) 5C) 15D) 10 b) If you use the 5% level of significance, what is the critical t-value? A) +2.132 B) ±2.132 C) +2.262 D) ±2.228   c) What is the value of calculated t? A) +0.933 B) ±2.776 C) +0.47 D) −2.028   d) What is the decision at the 5% level of significance? A) Fail to reject the null hypothesis and conclude LIFO is more effective. B) Reject the null hypothesis and conclude…