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Law Incorporation [45]
3 years ago
12

The mean cost of a meal for two in a mid-range restaurant in Tokyo is $40 (Numbeo website, December 14, 2014). How do prices for

comparable meals in Hong Kong compare? The DATAfile HongKongMeals contains the costs for a sample of 42 recent meals for two in Hong Kong mid-range restaurants. Click on the datafile logo to reference the data.a. With 95% confidence, what is the margin of error (to 2 decimals)?b. What is the 95% confidence interval estimate of the population mean (to 2 decimals)? ( , )c. How do prices for meals for two in mid-range restaurants in Hong Kong compare to prices for comparable meals in Tokyo restaurants?
Business
1 answer:
natali 33 [55]3 years ago
3 0

Answer:

a. 2.13. b. (30.53, 34.79). c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.

Explanation:

The size of the sample is 42 and the mean of the sample is ∑x_{i}n = 32.66 and the standard deviation of the sample (σ) is √[∑(x_{i}-μ)^2 - 1] = √46.6092 = 6.8271

a. α = 1 - (95/100) = 0.05; α/2 = 0.025; the degree of freedom = n-1 = 42-1 = 41; tα/2 = t0.025 = 2.02. Thus, the error margin = (tα/2)*(σ/√n) = 2.02*(6.83/√42) = 2.1279

b. Lower level limit = 32.66 - 2.1279 = 30.5321; Upper level limit = 32.66+2.1279 = 34.7879. The interval estimate = (mean± margin of error) = (30.53, 34.79).

c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.

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Prairee partnership has four equal partners, Dodd, Crank, Pick, and Mack. Each of the partners had a tax basis of $320,000 as of
NemiM [27]

Answer:

mack tax basis in prairee on 31 december = 307000

correct option is a. $307,000

Explanation:

given data

tax basis = $320,000

net business income = $152,000

services rendered = $4,000

distribution = $50,000

solution

we know allocated income is here

allocated income = net business income - guaranteed payment

allocated income = 152000 - 4000

allocated income = 148000

so

mack share of net income is 25 % of allocated income

mack share of net income = 37000

so

mack tax basis in prairee on 31 december = 320000 + 37000 - 50000

mack tax basis in prairee on 31 december = 307000

7 0
3 years ago
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yanalaym [24]

Answer:

a) Increase asset (Cash): Increase equity (Service Revenue) - GUIDE

b) Decrease equity (Salaries): Decrease asset (Cash)

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d) Increase asset (Receivable Accounts): Increase equity (Service Revenue)

e) Decrease equity (Utility): Increased liabilities (Others payable accounts)

f) Decrease equity (Capital): Decrease assets (Cash)

Explanation:

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3 0
3 years ago
Who is Patrick Jorgenson? What does he do for a living?
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Answer:

I think you mean Patrick Jørgensen

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He is a musical artist and if you don't mean Patrick Jørgensen I'm sorry

7 0
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____________ is a management application that takes a deterministic approach in evaluating decisions regarding current and futur
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Answer:

aggressively prices in one market to elicit a competitive response from a rival in another market.

Explanation:

Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.

In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.

One of the importance associated with the pricing of products is that, it improves the image of a business firm.

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6 0
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