Answer:
4.28 grams
Explanation:
The z score is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by the formula:
Given that:
P(x > 5.1 grams) = 5%, x = 5.1 grams, σ = 0.5 grams
P(x > 5.1 grams) = 5%
P(x < 5.1 grams) = 100% - 5% = 95%
P(x < 5.1) = 95%
From the normal distribution table, 95% corresponds with a z score of 1.645. Hence:
Answer:
Representativeness heuristic bias
Explanation:
Representativeness heuristic bias occurs when there are similar events whose probability of occurrence is assumed to be the same. People mistakenly assume there is a close relationship between the two events than there really is.
For example of John is a lawyer, he is judged to be a lawyer because of expression of various traits associated with lawyers.
Kellyanne hired Joshua from Southwest University. Because of his outstanding performance, it is assumed that other considered from Southwest University will also perform outstandingly.
This is a form of representativeness heuristic bias
Answer:
a. Journal entry
b. $18,150
c. $586,850
Explanation:
a. The adjusting journal entry is as follows
Bad debt expense A/c Dr
To Allowance for doubtful debts
(Being bad debt expense is recorded)\
The computation of the bad debt expense is shown below:
= Account receivable × estimated percentage given + debit balance of allowance for uncollectible accounts
= $605,000 × 3% + $4,700
= $18,150 + $4,700
= $22,850
b. The adjusted balance in Allowance for Doubtful Accounts is $18,150
c. The cash realizable value is
= $605,0000 - $18,150
= $586,850
Answer: The supply of the loan able funds would decrease and so would it demand. It will also decrease.
<u>Explanation:</u>
With the decrease in the saving for the retirement purposes, the demand of the consumers would decrease for loan able funds. If the businesses also decrease the savings for new plant and machinery, it would decrease their demand for loan able funds.
Because of the decrease in the demand, the supply of the loan able funds will also decrease. But the effect of this on the real interest rates can not be said to be in a certain manner. It is uncertain.
