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Don’t cell! (H) Suppose you are a U.S. senator and a lobbyist approaches you to report the fantastic news that the group she represents has just discovered a device that will block reception for cell phones in automobiles and thus make driving much safer. The device would cost a mere $100 per vehicle, and your lobbyist wants you to offer a bill that would subsidize the expense. What additional information would you need in order to determine the cost per life saved of this gizmo?
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- Consider the following situation, which involves two options. Determine which option is less expensive. Are there unstated factors that might affect your decision? You currently drive 400 miles per week in a car that gets 14 miles per gallon of gas. You are considering buying a new fuel-efficient car for $16,000 (after trade-in on your current car) that gets 42 miles per gallon. Insurance premiums for the new and old car are $900 and $500 per year, respectively. You anticipate spending $1700 per year on repairs for the old car and having no repairs on the new car. Assume gas costs $3.50 per gallon. Over a five-year period, is it less expensive to keep your old car or buy the new car? Over a five-year period, the cost of the old car is $ (Round to the nearest dollar as needed.) and the cost of the new car is $ Thus, over a five-year period, it is less expensive toarrow_forwardAccounting procedures allow a business to evaluate its 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. The company wishes to test this hypothesis at the 0.05 level of significance. Product 1 2 4 5 FIFO (F) LIFO (L) 228 220 122 101 105 117 215 205 250 246 What is the value of the test statistic? Multiple Choice +0.70 13.002 +2.358 +1159arrow_forwardAccounting procedures allow a business to evaluate its 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. The company wishes to test this hypothesis at the 0.05 level of significance. Product 1 2 3 4 5 FIFO (F) 225 123 101 212 253 LIFO (L) 216 105 116 202 250 What is the value of the test statistic?arrow_forward
- Group problems: 1. Last year you bought a used car and the odometer read 62,502 miles. One vear later, vour odometer reads 70,110. Your sister bought a car at the same time, and her car was much newer. The odometer read 21,500 when she bought the car, and she claims that she drives about 10,000 miles per year. a Create a table to show your mileage and your sister's mileage as a function of time (vears since your purchase). What must you assume about your driving habits? メ 1. Years since you bought 0. 3. your car 4. Your car's mileage 62502 70,110 Your sister's car's 21500 mileage b. In 6 years, whose car will have the higher mileage? How do you know? 20529+×99Lと c. Write and solve a system of equations in order to determine when your sister's odometer will surpass yours and what the mileage on both cars will be. d. Graph the system using your technology. Find the intersection point and explain how this confirms your work in part c. 82arrow_forwardDuring a one year time period, how many gallons of water would the average household save by using an efficiency washer vs a regular washer? Is this one year savings more or less than the amount of water an average person drinks in a lifetime? Explain and show your assumptions, calculations, and conversions. Consider it to be essentially 2 separate problems: How much water is savedin a one year periodwhen using an efficiency washer vs regular washer - answer based on your assumptions and calculations for full credit How much water does an average person drink in a lifetime– arrive at this answer based on your assumptions and calculations Compare the answers to those 2 questions to arrive at your conclusion Below are 2 pieces of information that you might find helpful there are 128 oz in a gallon there are 365 days in a year and also 52 weeks in a yeararrow_forwardAccounting procedures allow a business to evaluate its 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 FIIFO 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. The company wishes to test this hypothesis at the 0.05 level of significance. Product FIFO (F) LIFO (L) 1 225 221 121 103 3 100 117 215 253 4 204 5 248 What is the value of the test statistic? Multiple Cholce +1.916 +0.717 +2.560 +0.25arrow_forward
- Question 3 You're out of gas! You need to fill up the gas tank of your friend's sports car before you return it tomorrow. Only premium gas will suffice. The gas station beside your home is selling premium fuel for $1.90 per litre. On Google maps you see that there is a gas station 60 km away that is selling premium for $1.60 per litre. At the moment you need to buy 60 litres of gas to fill up the tank. Assume that you still have enough fuel to drive 60 km. The average fuel consumption of the car is 10 litres per 100 km. (Note: your friend wants the car back with a full tank, so if you drive to the further station to take advantage of the lower price, you will need to replace the amount of gas that you used on the drive back at the local station.)arrow_forwardMay you help me with this? You recently received a job with a company that manufactures an automobile antitheft device. To conduct an advertising campaign for the product, you need to make a claim about the number of automobile thefts per year. Since the population of various cities in the United States varies, you decide to use rates per 10,000 people. (The rates are based on the number of people living in the cities.) Your boss said that last year the theft rate per 10,000 people was 44 vehicles. You want to see if it has changed. The following are rates per 10,000 people for 36 randomly selected locations in the United States. 55 42 125 62 134 73 39 69 23 94 73 24 51 5526 66 41 67 15 53 56 91 20 78 70 25 62 11517 36 58 56 33 75 20 16Perform an appropriate analysis, is there enough evidence to conclude that the car theft rate has changed from 44 at α = 0.05arrow_forwardPlease provide a neat solutionarrow_forward
- Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning