Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
7th Edition
ISBN: 9781337298353
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
Publisher: South-Western College Pub
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Gulf Real Estate Properties, Inc., is a real estate firm located in
southwest Florida. The company, which advertises itself as
"expert in the real estate market," monitors condominium sales
by collecting data on location, list price, sale price, and number
of days it takes to sell each unit.
Each condominium is classified as Gulf View if it is located
directly on the Gulf of Mexico or No Gulf View if it is located on
the bay or a golf course, near but not on the Gulf. Sample data
from the Multiple Listing Service in Naples, Florida, provided
recent sales data for 40 Gulf View condominiums and 18 No
Gulf View condominiums. Prices are in thousands of dollars.
The data are shown in the following table.
Gulf View Condominiums No Gulf View Condominiums
List Price Sale price Days to Sell List Price Sale Price Days to Sell
495
475
130
217
217
182
379
350
71
148
135.5
338
529
519
85
122
552.5 534.5 95
150
552.5 534.5
95
334.9 334.9
550
505
169.9 165
210
945
314
305
800
210
*10
975
314
315
885…
Amazon.com, Inc. (AMZN) is one of the largest Internet retailers in the world. Best Buy, Inc. (BBY) is a leading retailer of consumer electronics and media products in the United States. Amazon and Best Buy compete in similar markets; however, Best Buy sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet. Sales and accounts receivable information for both companies for a recent period follows (in millions):
Amazon
Best Buy
Sales
$135,987
$39,528
Accounts receivable:
Beginning of year
5,654
1,280
End of year
8,339
1,162
a. Determine the accounts receivable turnover for each company. Round all calculations to one decimal place.
Amazon
Best Buy
Accounts Receivable Turnover
fill in the blank 1
fill in the blank 2
b. Determine the number of days’ sales in receivables for each company. Use 365 days and round all calculations to one decimal place.
Amazon
Best Buy…
Gulf Real Estate Properties, Inc., is a real estate firm located in
southwest Florida. The company, which advertises itself as
"expert in the real estate market," monitors condominium sales
by collecting data on location, list price, sale price, and number
of days it takes to sell each unit.
Each condominium is classified as Gulf View if it is located
directly on the Gulf of Mexico or No Gulf View if it is located on
the bay or a golf course, near but not on the Gulf. Sample data
from the Multiple Listing Service in Naples, Florida, provided
recent sales data for 40 Gulf View condominiums and 18 No
Gulf View condominiums. Prices are in thousands of dollars.
The data are shown in the following table.
Gulf View Condominiums No Gulf View Condominiums
List Price Sale price Days to Sell List Price Sale Price Days to Sell
495
475
130
217
217
182
379
350
71
148
135.5
338
529
519
85
186.5
122
95
239
150
552.5 534.5
552.5 534.5 95
334.9
334.9
505
165
×Ô¶5±2259828846§§A**_¶****888*A*****
0
210…
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