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pogonyaev
3 years ago
8

A greenhouse in a? tri-county area has kept track of its customers for the last several years and has determined that? 28% of it

s customers plant a vegetable garden in the spring. the greenhouse obtains a random sample of 1000 of its customers. what is the mean of the sampling distribution of modifyingabove p with caretp?, the sample proportion of customers that plant a vegetable garden in the? spring?
Business
2 answers:
Alex3 years ago
7 0
We are given two values
p = 28%
and
n = 1000
We are asked to get the mean of the sampling distribution of the customers that plant a vegetable in the spring.

We simply use the formula
<span>p̂ = np
</span>So, substituting
<span>p̂ = 0.28 (1000)
</span>p̂ = 280
The mean is 280
erastova [34]3 years ago
7 0

Answer:

The mean is 280 customers.

The sample proportion is 28%.

Explanation:

For each customer, there are only two possible outcomes. Either they plant a vegetable in the spring, or they do not. This means that we can solve this problem using concepts of the binomial probability distribution.

Binomial probability distribution.

Probability of exactly x sucesses on n repeated trials, with p probability. Has an expected value of:

E(X) = np

In this problem, we have that:

There are 1000 customers, so n = 1000.

28% of its customers plant a vegetable garden in the spring. This means that p = 0.28.

So:

What is the mean of the sampling distribution of modifyingabove p with caretp?

The mean is the expected value, so:

E(x) = np = 1000*0.28 = 280

The mean is 280 customers.

The sample proportion of customers that plant a vegetable garden in the? spring?

It is the same as the population proportion, so the sample proportion is 28%.

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Using the following end-of-year information, calculate the number of days' sales in receivables for Year 2.
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Answer:

The number of days' sales in receivables for Year 2 is 48.7

Explanation:

The formula that is applicable to this scenario is the accounts receivable divided by sales multiplied by 365 days

The number of days' sales in receivables=$11,000/$82,500*365=48.67  

The correct option is D, since the 48.67 was simply rounded down to one decimal place.

6 0
4 years ago
applied vs. actual manufacturing overhead davis manufacturing corporation applies manufacturing overhead on the basis of 150% of
Mashcka [7]

Answer:

Subapplication of    22,500

journal entry:

WIP                   4,500 debit

finished goods 2,250 debit

COGS               15,750 debit

    factory overhead               22,500 credit

Explanation:

Direct Labor cost during the year:

60,000 + 30,000 + 210,000 = 300,000 direct labor

<u></u>

<u>Applied overhead:</u>

cost driver x predetermined rate

300,000 x 150% = 450,000

Actual overhead:   472,500

Subapplication of    22,500

as this is a significant amount we must adjust the WIP  inventory, cost of goods sold and fnished goods inventory

to know the adjustment on each account we calcualte each account percentage:

300,000   -->   22,500

60,000 --> 60,000/300,000 x 22,500 = 4,500 endingWIP

30,000 --> 30,000/300,000 x 22,500  = 2,250 finished goods

210,000--> 210,000/300,000 x 22,500 = 15,750 COGS

we do the adjuting entry to increase overhead and transfer into each concept

8 0
4 years ago
A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960 and the CPI in 2014 was 240. Approximately how
valentinak56 [21]

Answer:

$8.19 million

Explanation:

A movie star was paid $1 million in 1960 to do a movie

The CPI was 29.3 in 1960

The CPI in 2014 was 240

Therefore the amount that was earned in dollars by the movie star in 2014 can be calculated as follows

= 240/29.3

= 8.19 × $1 million

= $8.19 million

Hence the movie star earned $8.19 million in 2014

5 0
4 years ago
Radek Company estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged cat
stepladder [879]

Answer:

the  bad debt expense that reported in the income statement is  $2,300

Explanation:

The computation of the bad debt expense that reported in the income statement is as follows;

= Total estimated uncollectible accounts - unused balance

= $3,200 - $900

= $2,300

Hence, the  bad debt expense that reported in the income statement is  $2,300

7 0
3 years ago
Let A equal the reported inventory value if the lower-of-cost-or-market rule is applied to individual items of inventory while B
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Answer:

The correct answer is A will always be equal to or less than B.

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In general terms, inventory is valued in terms of cost. But there must be a deviation from the cost basis of the inventory valuation and it must be reduced below cost when the utility of the goods has decreased and its sale product or item value will be less than its cost.

The decrease in the value of inventory below cost can be due to different causes, such as physical deterioration, obsolescence, a drop in the price level, etc. In these situations, the inventory is recorded at its market value. The difference in value (cost-to-market value) is recognized as a loss for the current period. It should be understood that the market value of the inventory must be estimated since the inventory has in fact not been sold. As a general rule, the concept of market value is used in terms of the current replacement cost of inventory, that is, what it will currently cost to purchase or manufacture the item.

5 0
3 years ago
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