NEED HELP ASAP 10 POINTS

Cycle Haven, Inc. offers warranties on all their bikes. They estimate warranty expense at 4.5% of sales. At the beginning of

Aleks04 [339]

Answer:

$13,725

Explanation:

The movement in the warranty payable account over a period is as a result of the warranty expense for the period and the warranty payments made during the period.

Given that the company estimate warranty expense at 4.5% of sales, the estimated warranty for the period is the expense recorded in the income statement. This is equivalent to

= 4.5% * $305,000

= $13,725

5 0

2 years ago

A university officer wants to know the proportion of registered students that spend more than 20 minutes to get to school. He se

vlada-n [284]

Answer:

1) We need a random sample. For this case we assume that the sample selected was obtained using the simple random sampling method.

2) We need to satisfy the following inequalities:

$n\hat p =25*0.52= 13 \geq 10$

$n(1-\hat p) = 25*(1-0.52) =12 \geq 10$

So then we satisfy this condition

3) 10% condition. For this case we assume that the random sample selected n represent less than 10% of the population size N . And for this case we can assume this condition.

So then since all the conditions are satisfied we can conclude that we can apply the normal approximation given by:

$p \sim N (\hat p, \sqrt{\frac{\hat p (1-\hat p)}{n}})$

So then the answer for this case would be:

a. Yes.

Explanation:

For this case we assume that the question is: If in the experiment described we can use the normal approximation for the proportion of interest.

For this case we have a sample of n =25

And we are interested in the proportion of registered students that spend more than 20 minutes to get to school.

X = 13 represent the number of students in the sample selected that have a time more than 20 min.

And then the estimated proportion of interest would be:

$\hat p = \frac{X}{n}= \frac{13}{25}= 0.52$

And we want to check if we can use the normal approximation given by:

$p \sim N (\hat p, \sqrt{\frac{\hat p (1-\hat p)}{n}})$

So in order to do this approximation we need to satisfy some conditions listed below:

1) We need a random sample. For this case we assume that the sample selected was obtained using the simple random sampling method.

2) We need to satisfy the following inequalities:

$n\hat p =25*0.52= 13 \geq 10$

$n(1-\hat p) = 25*(1-0.52) =12 \geq 10$

So then we satisfy this condition:

3) 10% condition. For this case we assume that the random sample selected n represent less than 10% of the population size N . And for this case we can assume this condition.

So then since all the conditions are satisfied we can conclude that we can apply the normal approximation given by:

$p \sim N (\hat p, \sqrt{\frac{\hat p (1-\hat p)}{n}})$

So then the answer for this case would be:

a. Yes.

3 0

2 years ago

If the price of a product is increase. What is the effect of change in price on the quantity demand & supply curve to illust

Artemon [7]

Answer:

Increased prices typically result in lower demand, and demand increases generally lead to increased supply. However, the supply of different products responds to demand differently, with some products' demand being less sensitive to prices than others.

4 0

2 years ago

HRH Collection Agency keeps a collection fee of 25% of any amounts collected. How much did the agency collect on a bad debt if t

Kazeer [188]

Answer:

The agency collected $ 622.5.

Explanation:

Since HRH Collection Agency keeps a collection fee of 25% of any amounts collected, to determine how much did the agency collect on a bad debt if the agency forwarded $ 2490 to a client, the following calculation must be performed:

2490 x 0.25 = X

622.5 = X

Therefore, the agency collected $ 622.5.

5 0

3 years ago

Nelson Ovalles worked as a cable installer for Cox Rhode Island Telecom, LLC, under an agreement with a third party, M&M Com

Illusion [34]

Answer:

No.

Explanation:

Ovalles was an M&M contractor to perform work assigned by M&M. As the question says, <em>"Cox had minimal contact with him and limited power to control the manner in which he performed his duties."</em>. That is the main feature of a contractor, different from an employee who works directly for Cox. The liability is completely of M&M.

5 0

2 years ago