You may need to use the appropriate appendix table or technology to answer this question.A newspaper reports that the average expenditure on Valentine's Day is $100.89. Do male and female consumers differ in the amounts theyspend? The average expenditure in a sample survey of 40 male consumers was $137.67, and the average expenditure in a sample survey of30 female consumers was $69.64. Based on past surveys, the standard deviation for male consumers is assumed to be $45, and thestandard deviation for female consumers is assumed to be $20.(a) What is the point estimate (in dollars) of the difference between the population mean expenditure for males and the population meanexpenditure for females? (Use male-female.)(b) At 99% confidence, what is the margin of error (in dollars)? (Round your answer to the nearest cent.)(c) Develop a 99% confidence interval (in dollars) for the difference between the two population means. (Use male - female. Round youranswer to the nearest cent.)to $

Let Population 1=maleLet Population 2=female Population 1:sample mean x̄1=137.67sample size…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The number of properties newly listed with a real estate agency in each quarter over the last four years is given below. Assume the time series has seasonality without trend. Quarter 1 2 3 4 Year 1 73 89 123 92 Year 2 81 87 115 95 Year 3 76 91 108 87 Year 4 77 88 120 97 a. Develop the optimization model that finds the estimated regression equation that minimize the sum of squared error. b. Solve for the estimated regression equation. c. Forecast the four quarters of Year 5. *Please solve in excel
In any year, a person can suffer from a minor fracture. From year to year, the number of people seeking treatment for such fractures is random. Let Y denote the treatment expenditure for a minor fracture in any given year. Suppose that in 91% of the years Y= $0, but in 9% of the years Y= $4,000. The mean treatment expenditure for a minor fracture in any year is $, and the standard deviation of the treatment expenditure for a minor fracture in any year is $. (Round your answers to two decimal places.)
Tom went to the store and bought two shirts for $50 each, socks for $10 and pants for $30. If the sales tax was 6%, what was the total purchase price? Round to the nearest cent (two decimal places). Your answer will look like this: 50.25 For your answer, do NOT include words, symbols, commas, etc.
On April 1, the price of gas at Bob's Corner Station was $3.50 per gallon. On May 1, the price was $4.00 per gallon. On June 1, it was back down to $3.50 per gallon. Between April 1 and May 1, Bob's price increased by $0.50 Between May 1 and June 1, Bob's price decreased by $0.50 Suppose that at a gas station across the street, prices are always 20% higher than Bob's. In absolute dollar terms, the difference between Bob's prices and the prices across the street is greater when gas costs $4.00 than when gas costs $3.50. Some economists blame high commodity prices (including the price of gas) on interest rates being too low, Suppose the Fed raises the target for the federal funds rate from 2% to 2.75%. This change of raised its target by approximately of 14.29% Y or 14.29%Y percentage points means that the Fed
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The basis for recognizing patient care revenue is not always obvious. In a particular month Northwest Medical Clinic reported the following: 1. It provided direct care services to patients, billing them $400,000. Of this amount it received $120,000 in cash, but as a consequence of bad debts it expects to collect a total of only $330,000. 2. It provided direct care to patients covered by insurance and who are members of various group health plans for which, at standard rates, it would have billed $650,000. However, owing to contractual arrangements with the payers, it actually billed them for, and expects to collect, only $480,000. 3. It provided charity care for which it would have billed, at standard rates, $82,000. 4. It received capitation fees of $1,400,000 from health care plans and provided services to members of those plans for which it would have billed, at standard rates, $1,600,000. Prepare appropriate journal entries to recognize revenue.
Takaful wishes to adjust their rates for next year, they calculate that the expected loss ratio is 0.72, while the data shows that the loss adjustment expenses is 384 and the toal premium earning is 923. The company's current ratei s 62. Using the experience rating method what will the new primum be if the credibility factor is 0.62
A wholesaler was considering supplying three retailers, but inventory shortages have forced him to select only one retailer. Wholesaler’s credit manager is evaluating the credit record of three retailers. Over the past 05 years, data reveals these retailers’ accounts receivables following average number of days: Lee: 62.2 61.8 63.4 63.0 61.7 Bee: 62.5 61.9 62.8 63.0 60.7 Chee: 62.0 61.9 63.0 63.9 61.5 The credit manager feels that consistency, in addition to lowest average, is important factor in deciding the best retailer. Which retailer should be selected by the credit manager for the supply of inventory?
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For several years, many utilities have employed regression analysis to forecast monthly utility usage by residential customers using weather forecasts, the number of holidays, the number of days in the month, and other factors. For example, the Connecticut Department of Public Utility Control (CDPUC) has determined that regression, properly used, can accurately predict natural gas usage. Most public gas utilities serving Connecticut have reported levels of accuracy from 4% to 10% using regression. One company, Dominion Natural Gas Company of Ohio, uses this approach not to forecast, but to explain to customers why their natural gas bills have gone up or down compared to the prior month and to the same month of the prior year. The bill shows total MCF (thousand cubic feet of natural gas) used by the customer for that month and why the total MCF usage has changed, based on three factors: 1. Change in temperature. Each degree increase in temperature causes an increase in the number of…
It is hypothesized that, of the students completing their degree in physical therapy in the state of Georgia, 35% of them take a job in Georgia, 38% take a job in a neighboring state, while the rest take a job further away. A random sample of 86 students graduating with a degree in physical therapy in Georgia over the last 10 years are selected and 40 of them took a job in-state, 22 of them took a job in a neighboring state, and the rest of them took a job in a state further away. What value represents the expected frequency for PT graduates who took a job in a neighboring state? If needed, round your answer to two decimal places.

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