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AURORKA [14]
3 years ago
15

Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully loaded is 6,000 pounds and the

standard deviation is 310 pounds. Assume that the population follows the normal distribution. Fifty-five trucks are randomly selected and weighed.

Business
1 answer:
tresset_1 [31]3 years ago
8 0

Answer:

95% of 55 trucks will have weights between 5915.5 lbs and 6084.5 lbs

Explanation:

Complete question:

Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully loaded is 6,000 pounds and the standard deviation is 310 pounds. Assume that the population follows the normal distribution. Fifty-five trucks are randomly selected and weighed. Within what limits will 95% of the sample mean occur

  • Subtract 1 from sample size to find degree of freedom(df). Here sample size is 55,so

df= 55-1= 54

  • To determine α, subtract confidence interval from 1 and then divide by 2. Here confidence interval is 95% or 0.95, so

α= (1-0.95)/2= 0.025

  • Use t-distribution table(see attachment) to find t-value for α=0.025 and df=54. So t=2.021(since df=54 is not listed in the table, I have used the table row corresponding to the next lowest value of df that is 40)
  • divide sample deviation, 310, by root of sample size that is 55. So,

           \frac{310}{\sqrt{55} }= 41.8

  • Now multiply the answers from last two steps 41.8 × 2.021= 84.5
  • lower limit= 6000-84.5=5915.5
  • upper limit= 6000+84.5=6084.5

95% of 55 trucks have weights between 5915.5 lbs and 6084.5 lbs

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jeyben [28]

Answer:

Luther Corporation

Current Ratio for 2006 is closest to:

1.1 : 1

Explanation:

a) Data and Calculations:

Total Current Assets = $144 million

Total Current Liabilities = $132 million

Current Ratio = Current Assets/Current Liabilities

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= 1.1 : 1

b) Luther Corporation's current ratio is a liquidity measure that shows Luther's ability to pay off short-term obligations worth $132 million or those due within one year with its current assets of $144 million.  The ratio tells investors and analysts of Luther Corporation how Luther can use its current assets to pay off its current debts.  Since Luther's current ratio is higher than 1, it is considered good, depending on the industry average.  This means that Luther's current ratio of 1.1 : 1 should not be considered in isolation, but in comparison with other firms in the industry and its performance over a number of years.

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Why is it important to keep your own financial records?
viva [34]
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4 years ago
Omkara, a furniture manufacturer, contracts with foam gnome for $50,000 worth of foam, which omkara will use for making ten sofa
snow_tiger [21]
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Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 70% of its sales are
horsena [70]

Answer:

$1,756,600.

Explanation:

                                         P2 Jasper Company

                                     Budgeted cash Receipt

                                           For the 2nd quarter

                                                           April                   May                  June

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30% in the month after Sale                                        $110,250        $112,350

Budgeted cash receipt                     $767,500           $484,750       $504,350

Total budgeted cash receipt for the 2nd quarter = $767,500 + $484,750 + $504,350 = $1,756,600.

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Answer:

A yard.

Explanation:

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