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Y_Kistochka [10]
3 years ago
14

The customer service manager for the XYZ Fastener Manufacturing Company examined 60 vouchers and found 9 vouchers containing err

ors. Find a 98 percent confidence interval for the proportion of vouchers with errors.
Business
2 answers:
Flura [38]3 years ago
8 0

Answer:

The Confidence Interval(CI) is calculated as (0.043, 0.257).

The steps and expanation is shown below.

Explanation:

The formula for a Confidence Interval(CI) for a population proportion is given as

p + z*[Sqrt(p(1 - p))/n]

Or

p - z*[Sqrt(p(1 - p))/n],

p is the sample proportion, n is the sample size, and z* is the appropriate value from the standard normal distribution for your desired confidence level. The following table shows values of z* for certain confidence levels.

For the 98% Confidence Interval, z*–value = 2.33

p = 9/60 = 0.15, confidence level z* = 2.33( From the standard table)

0.15 + 2.33[Sqrt(0.15(1 - 0.15))/60]

OR

0.15 - 2.33[Sqrt(0.15(1 - 0.15))/60]

0.15 + 0.107 or 0.15 - 0.107

Confidence Interval is

(0.043, 0.257)

fredd [130]3 years ago
6 0

Answer:

= (0.043 , 0.257)

Explanation:

p = 9/60 = 0.15

Z score for 98% confidence interval = Z0.01 = 2.33

The Confidence interval = (p + Z0.01 * sqrt(p * (1 - p) / n))

= (0.15 + 2.33 * sqrt(0.15 * (1 - 0.15) / 60))

= (0.15 + 0.107)

= (0.043 , 0.257)

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Suppose Firm A has a supply curve of Upper Q Subscript Upper A Baseline equals negative 2 plus p and Firm B has a supply curve o
Sonja [21]

Answer:

The total supply can be found by adding individual supply functions as follows:

Qa+Qb = Q

Q = -2+p+0.5p

Q= -2+1.5p where p = $44 therefore;

Q= -2+1.5(44)

Q= 64

Total supply at p = $15

Q= -2+15(1.5)

Q= 20.5

8 0
3 years ago
Which following statement about FAFSA process are TRUE?
aleksklad [387]
FAFSA stands for Free Application for Federal Student Aid. It is a form that can be prepared annually by current and prospective college students  in the United States to determine their eligibility for student financial aid. Hope this helps.
3 0
3 years ago
The income statement approach to estimating uncollectible accounts expense is used by Kerley Company. On February 28, the firm h
erik [133]

Answer:

Feb 28.

  • Uncollectible accounts expense would amount to 1% of net credit sales made during February.  

Dr Bad Debt Expense $ 27,860

Cr Allowance for Uncollectible Accounts $ 27,860

  • On March 10, an accounts receivable from Kathy Black for $6,100 was determined to be uncollectible and written off.  

Dr Allowance for Uncollectible Accounts $ 6,100

Cr Accounts receivable $ 6,100

  • March 31, Black received an inheritance and immediately paid her past due account in full.  

Dr Accounts receivable $ 6,100

Cr Allowance for Uncollectible Accounts $ 6,100

 

Dr CASH $ 6,100

Cr Accounts receivable $ 6,100

Explanation:

February 28  

Dr Accounts receivable $ 437.000

Cr Allowance for Uncollectible Accounts $ 2.140

Net Credit Sales February $ 3.000.000

 

Uncollectible accounts expense would amount to 1% of net credit sales made during February.  

Dr Bad Debt Expense $ 27.860

Cr Allowance for Uncollectible Accounts $ 27.860

On March 10, an accounts receivable from Kathy Black for $6,100 was determined to be uncollectible and written off.  

Dr Allowance for Uncollectible Accounts $ 6.100

Cr Accounts receivable $ 6.100

March 31, Black received an inheritance and immediately paid her past due account in full.  

Dr Accounts receivable $ 6.100

Cr Allowance for Uncollectible Accounts $ 6.100

 

Dr CASH $ 6.100

Cr Accounts receivable $ 6.100

 

If the company applies the allowance method, it means that the account Allowance for Uncollectible Accounts must show as balance the % estimated of accounts receivables as CREDIT.  

 

Bad accounts are those credits granted by the company and there is no possibility of being charged.  

"When customers buy products on credits but the company cannot collect the debt, then it's necessary

to cancel the unpaid invoice as uncollectible."  

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets  

 

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.  

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Reserve for Bad Accounts (credit)  

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit)  with accounts receivable (credit), with this we are recognizing the bad credit of the company.  

8 0
3 years ago
Consider two perfectly negatively correlated risky securities, X and Y. Security X has an expected rate of return of 9% and a st
Aneli [31]

Answer:

0.41

Explanation:

The computation of the weight of security Y in the minimum variance portfolio is shown below:-

Weight of security X = Standard deviation of security Y ÷ (Sum of the standard deviation of securities)

= 39% ÷ (39% + 27%)

= 39% ÷ 66%

= 59.01%

Weight of security Y = 1 - Weight of security X

= 1 - 59.01%

= 0.41

5 0
3 years ago
REFLECTION QUESTIONS
telo118 [61]

Answer:

Expenses must be close or above $2000 per month

Explanation:

For a business to operate at a profit, its revenues must exceed the expenses by a sizable proposition. Revenues refer to income from business activities, while expenses are the cost incurred in generating that income. Should the costs match or be higher than the revenue, a business will find it challenging to continue operating.

In this case, the business owner is generating revenues of $2000 per month. If he is struggling to stay open, it means the monthly expenses are around or above $2000. The $2000 that the business is generating per month is not sufficient to cater for all expenses and the desired profits. The business owner is probably making losses, and that why he is having trouble keeping the doors open.

8 0
3 years ago
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