Answer:
67%
Test for 2 Independent means
Explanation:
Given that:
Average Female earning per week in sample = $346.98
Average Male earning per week in sample = $517.70
Female earning in percent of male earning :
(Female earning / male earning) × 100%
(346.98 / 517.70) * 100%
0.6702337 * 100%
67.02%
= 67%
Testing whether or not the difference in weekly earning by males and female can be conducted by testing the difference in sample means of both males and females by taking the two different samples as being independent.
Usually :
Null hypothesis : H0 : m1 - m2 = 0
Alternative hypothesis : H1 : m1 - m2 ≠ 0
The Utility Function Shows That S and K can be used interchangeably, according to the utility function, and only one of them is really consumed.
- Utility in economics refers to the pleasure or happiness that customers derive from using an item or service. Consumer preferences for a variety of products and services are gauged by the utility function.
<u>CALCULATION</u>
Although the benefit or happiness that customers experience is calculated in units called utils
- MPs / MPk = 3/4 = 0.75 for MRS.
- Ps / Pk= 2 / 3 = 0.67
- MRS > Ps/Pk,
Hence only S will be employed.
'Starfruit' = 60 / 2 = '30
Kiwi = 0
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Answer:
Debit Bad debt expense $15,120
Credit Allowance for doubtful debt $15,120
Being entries to record estimated bad debts
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
Account receivables balance as at year end
= $257,000 - $131,000
= $126,000
Allowance for doubtful debt = 12% * $126,000
= $15,120
