Question: A producer of computer-aided design software

> Prepare journal entries and post them to T-accounts for all transactions in Exercise 7-25, including requirement 2. Summarize how these journal entries differ from normal costing entries. Data from Exercise 7-25: Yates Inc. is a p rivately held furnitu

> Yates Inc. is a privately held furniture manufacturer. For August 2015, Yates had the following standards for one of its products, a wicker chair: Standards per Chair Direct materials ………………………2 square metres of input at $5 per square metre Direct manu

> Katharine Stanley is the owner of Better Bikes, a company that produces high-quality mountain bicycles. Better Bikes participates in a supply chain that consists of suppliers, manufacturers, distributors, and elite bicycle shops. For several years Better

> The Clarkson Company produces engine parts for car manufacturers. A new accountant intern at Clarkson has accidentally deleted the calculations on the company’s variance analysis calculations for the year ended December 31, 2015. The fo

> Trustex Printers Inc. produces luxury chequebooks with three cheques and stubs per page. Each chequebook is designed for an individual customer and is ordered through the customer’s bank. The company’s operating budget for September 2015 included these d

> Sol Electronics, a fast-growing electronic device producer, uses a standard costing system, with standards set at the beginning of each year. In the second quarter of 2015, Sol faced two challenges: it had to negotiate and sign a new short-term labour ag

> Marron, Inc. produces the basic fillings used in many popular frozen desserts and treats—vanilla and chocolate ice creams, puddings, meringues, and fudge. Marron uses standard costing and carries over no inventory from one month to the

> Why do management accountants need to understand financial accounting?

> Tilda Manufacturing is a manufacturer of electronics components. Income data for one of the products (XT-107) for the month just ended are as follows: Tilda has capacity to produce 250,000 units each month, and its current average sales level is 175,00

> A home pregnancy test is not always accurate. Suppose the probability is 0.015 that the test indicates that a woman is pregnant when she actually is not, and the probability is 0.025 that the test indicates that a woman is not pregnant when she really is

> A manufacturer conducted a survey among 500 randomly selected target market households in the test market for its new disposable diapers. The objective of the survey was to determine the market share for its new brand. If the sample point estimate for ma

> The following exercises use the Purchase Orders database. Use MATCH and/or INDEX functions to find the following:a. The row numbers corresponding to the first and last instance of item number 1369 in column C (be sure column C is sorted by order number).

> Using the data in the Excel file Consumer Transportation Survey, develop a contingency table for Gender and Vehicle Driven; then convert this table into probabilities.a. What is the probability that respondent is female?b. What is the probability that a

> Use the Civilian Labor Force data in the Excel file Census Education Data to find the following:a. P(unemployed and advanced degree)b. P(unemployed ∙ advanced degree)c. P(not a high school grad ∙ unemployed)d. Are the events “unemployed” and “at least a

> The Excel file Concert Sales provides data on sales dollars and the number of radio, TV, and newspaper ads promoting the concerts for a group of cities. Develop simple linear regression models for predicting sales as a function of the number of each type

> A marketing researcher surveyed 92 individuals, asking them if they liked a new product concept or not. The results are shown below:Convert the data into percentages. Then construct a chart of the counts and a chart of the percentages. Discuss what each

> Use Analytic Solver Platform to fit a distribution to the data in the Excel file Computer Repair Times. Try the three different statistical measures for evaluating goodness of fit and see if they result in different best-fitting distributions

> The Excel file Credit Approval Decisions provides information on credit history for a sample of banking customers. Use regression analysis to identify the best model for predicting the credit score as a function of the other numerical variables. For the

> A professional football team is preparing its budget for the next year. One component of the budget is the revenue that they can expect from ticket sales. The home venue, Dylan Stadium, has five different seating zones with different prices. Key informat

> The Excel file Cereal Data provides a variety of nutritional information about 67 cereals and their shelf location in a supermarket. Use regression analysis to find the best model that explains the relationship between calories and the other variables. I

> Open the Excel file Store and Regional Sales database.a. Sort the data by units sold, high to lowb. Sort the units sold using an icon set, where green corresponds to high sales levels, yellow to medium sales, and red to low sales. The sort should show al

> Using the data in the Excel file Ohio Education Performance, test the hypotheses that the mean difference in writing and reading scores is zero and that the mean difference in math and science scores is zero. Use the paired-sample procedure

> Suggest some metrics that a hotel might want to collect about their guests. How might these metrics be used with business analytics to support decisions at the hotel?

> Refer to the card scenario described in Problem 2.a. Let A be the event “total card value is odd.” Find P(A) and P(Ac).b. What is the probability that the sum of the two cards will be more than 14?In Problem 2Consider the experiment of drawing two cards

> A market research company surveyed consumers to determine their ranked preferences of energy drinks among the brands Monster, Red Bull, and Rockstar.a. What are the outcomes of this experiment for one respondent?b. What is the probability that one respon

> Three coins are dropped on a table.a. List all possible outcomes in the sample space.b. Find the probability associated with each outcome

> In an example in Chapter 3, we developed the following cross-tabulation of sales transaction data:a. Find the marginal probabilities that a sale originated in each of the four regions and the marginal probability of each type of sale (book or DVD).b. Fin

> For the data in the Excel file Graduate School Survey, perform a chi-square test for independence to determine if plans to attend graduate school are independent of gender

> Using the data in the Excel file Home Market Value, develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house. Predict the value of a house that is 30 years old and has 1,800 square fee

> A major application of analytics in marketing is determining the attrition of customers. Suppose that the probability of a long-distance carrier’s customer leaving for another carrier from one month to the next is 0.12. What distribution models the reten

> For the garage-band model in Problem 7 of Chapter 11, suppose that the expected crowd is normally distributed with a mean of 3,000 and standard deviation of 200. Use the NORM.INV function and a one-way data table to conduct a Monte Carlo simulation with

> Construct the probability distribution for the value of a 2-card hand dealt from a standard deck of 52 cards (all face cards have a value of 10 and an ace has a value of 11).a. What is the probability of being dealt 21?b. What is the probability of being

> The weekly demand of a slow-moving product has the following probability mass function:Demand, x _________Probability, f(x)0 ……………………………………………………… 0.21 ………………………………………………………. 0.42 ………………………………………………………. 0.33 ………………………………………………………. 0.14 or more …………………………

> A consumer products company found that 48% of successful products also received favorable results from test market research, whereas 12% had unfavorable results but nevertheless were successful. They also found that 28% of unsuccessful products had unfav

> Consider the experiment of drawing two cards without replacement from a deck consisting of only the ace through 10 of a single suit (e.g., only hearts).a. Describe the outcomes of this experiment. List the elements of the sample space.b. Define the event

> A popular soft drink is sold in 2-liter (2,000-milliliter) bottles. Because of variation in the filling process, bottles have a mean of 2,000 milliliters and a standard deviation of 18, normally distributed.a. If the manufacturer samples 100 bottles, wha

> A Canadian business school summarized the gender and residency of its incoming class as follows:a. Construct the joint probability table.b. Calculate the marginal probabilities.c. What is the probability that a female student is from outside Canada or th

> Row 26 of the Excel file Census Education Data gives the number of employed persons having a specific educational level.a. Find the probability that an employed person has attained each of the educational levels listed in the data.b. Suppose that A is th

> A survey of 200 college graduates who have been working for at least 3 years found that 90 owned only mutual funds, 20 owned only stocks, and 70 owned both.a. What is the probability that an individual owns a stock? A mutual fund?b. What is the probabili

> Use Analytic Solver Platform to fit the hurricane data in Problem 32 to a discrete distribution? Does the Poisson distribution give the best fit?In Problem 32The number and frequency of Atlantic hurricanes annually from 1940 through 2012 is shown here.Nu

> In determining automobile mileage ratings, it was found that the mpg in the city for a certain model is normally distributed, with a mean of 30 mpg and a standard deviation of 1.0 mpg. Suppose that the car manufacturer samples 5 cars from its assembly li

> Lauren drinks a variety of soft drinks. Over the past month, she has had 15 diet colas, 4 cans of lemonade, and 6 cans of root beer in no particular order or pattern.a. Given this history, what is the probability that her next drink will be a diet cola?

> The worksheet Data in the Excel file Airport Service Times lists a large sample of the times in seconds to process customers at a ticket counter. The second worksheet shows a frequency distribution and histogram of the data.a. Summarize the data using th

> Use the Descriptive Statistics tool to summarize the percent gross profit, gross sales, and gross profit in the Excel file Sales Data

> Example 1.8 in Chapter 1 provided data from an experiment to identify the relationship between sales and pricing, coupon, and advertising strategies. Enter the data into a spreadsheet and implement the model in the example within your spreadsheet to esti

> For the market share model in Problem 5 of Chapter 11, suppose that the estimate of the percentage of new purchasers who will ultimately try the brand is uncertain and assumed to be normally distributed with a mean of 35% and a standard deviation of 4%.

> Compute descriptive statistics for liberal arts colleges and research universities in the Excel file Colleges and Universities. Compare the two types of colleges. What can you conclude?

> A deep-foundation engineering contractor has bid on a foundation system for a new building housing the world headquarters for a Fortune 500 company. A part of the project consists of installing 311 auger cast piles. The contractor was given bid informati

> A Midwest pharmaceutical company manufactures individual syringes with a self-contained, single dose of an injectable drug. In the manufacturing process, sterile liquid drug is poured into glass syringes and sealed with a rubber stopper. The remaining st

> Rosenberg Land Development (RLD) is a developer of condominium properties in the Southwest United States. RLD has recently acquired a 40.625-acre site outside Phoenix, Arizona. Zoning restrictions allow at most 8 units per acre. Three types of condominiu

> Find the mean and variance of a deck of 52 cards, where an ace is counted as 11 and a picture card as 10. Construct a frequency distribution and histogram of the card values. Shuffle the deck and deal two samples of 20 cards (starting with a full deck ea

> Use the Manufacturing Measurements data to compute sample averages, assuming that each row in the data file represents a sample from the manufacturing process. Plot the sample averages on a line chart, add the control limits, and interpret your results

> Repeat the sampling experiment in Example 6.3 for sample sizes 50, 100, 250, and 500. Compare your results to the example and use the empirical rules to analyze the sampling error. For each sample, also find the standard error of the mean using formula (

> Compute the z-scores for the data in the Excel file Airport Service Times. How many observations fall farther than three standard deviations from the mean? Would you consider these as outliers? Why or why not?

> The Excel file Auto Survey contains a sample of data about vehicles owned, whether they were purchased new or used, and other types of data. Use the Descriptive Statistics tool to summarize the numerical data, find the correlations among each of the nume

> A national homebuilder builds single-family homes and condominium-style townhouses. The Excel file House Sales provides information on the selling price, lot cost, type of home, and region of the country (M = Midwest, S = South) for closings during 1 mon

> PLE has developed a prototype for a new snow blower for the consumer market. This can exploit the company’s expertise in small-gasoline-engine technology and also balance seasonal demand cycles in the North American and European markets to provide additi

> In the Excel file Call Center Data, how strongly is length of service correlated with starting age?

> For the Excel file Credit Risk Data, compute the correlation between age and months employed, age and combined checking and savings account balance, and the number of months as a customer and amount of money in the bank. Interpret your results

> Example 1.4 in Chapter 1 described a scenario for new product sales that can be characterized by a formula called a Gompertz curve: S = aebect. Develop a spreadsheet for calculating sales using this formula for t = 0 to 160 in increments of 10 when a = 1

> The actual delivery time from Giodanni’s Pizza is exponentially distributed with a mean of 20 minutes.a. What is the probability that the delivery time will exceed 30 minutes?b. What proportion of deliveries will be completed within 20 minutes?

> Using the data in the Excel file Student Grades, apply the Excel Regression tool using the midterm grade as the independent variable and the final exam grade as the dependent variable.a. Interpret all key regression results, hypothesis tests, and confide

> The Excel file Beverage Sales lists a sample of weekday sales at a convenience store, along with the daily high temperature. Compute the covariance and correlation between temperature and sales

> For the President’s Inn Guest Database file, find the average length of stay and number of guests. Is there any correlation between the size of the party and the length of stay?

> For the data in the Excel file Rin’s Gym, find the co-variances and correlations among height, weight, and BMI calculation

> Describe how to apply stratified sampling to sample from the Credit Risk Data file based on the different types of loans. Implement your process in Excel to choose a random sample consisting of 10% of the records for each type of loan

> In the Excel file Weddings, determine the correlation between the wedding costs and attendance

> Call centers have high turnover rates because of the stressful environment. The national average is approximately 50%. The director of human resources for a large bank has compiled data about 70 former employees at one of the bank’s call centers (see the

> PLE produces its most popular model of lawn tractor in its Kansas City and Santiago plants and ships these units to major distribution centers in Atlanta, Caracas, Melbourne, Mexico City, London, Shanghai, and Toronto. Unit shipping costs can be found in

> The Excel file Cell Phone Survey reports opinions of a sample of consumers regarding the signal strength, value for the dollar, and customer service for their cell phone carriers. Use PivotTables to find the following:a. The average signal strength by ty

> The Excel file Freshman College Data shows data for 4 years at a large urban university. Use PivotTables to examine differences in student high school performance and first-year retention among different colleges at this university. What conclusions do y

> A lightbulb is warranted to last for 5,000 hours. If the time to failure is exponentially distributed with a true mean of 4,750 hours, what is the probability that it will last at least 5,000 hours?

> Using PivotTables, compute the mean and standard deviation for each metric by year in the Excel file Freshman College Data. Are any differences apparent from year to year?

> In the Excel file Facebook Survey, find the average and median hours online/week and number of friends in the sample using the appropriate Excel functions. Compute the midrange and compare all measures of location

> For the Excel file Travel Expenses, use a PivotTable to find the average and standard deviation of expenses for each sales rep

> Using the data in the Excel file Demographics, apply the Excel Regression tool using unemployment rate as the dependent variable and cost of living index as the independent variable.a. Interpret all key regression results, hypothesis tests, and confidenc

> A pharmaceutical manufacturer has projected net profits for a new drug that is being released to the market over the next five years:Year ____________Net Profit1 …………………………. $(300,000,000)2 …………………………. $(145,000,000)3 ……………………….……. $50,000,0004 …………………….

> Using PivotTables, find the average and standard deviation of sales in the Sales Transactions database. Also, find the average sales by source (Web or e-mail). Do you think this information could be useful in advertising? Explain how and why or why not

> Number the rows in the Excel file Credit Risk Data to identify each record. The bank wants to sample from this database to conduct a more-detailed audit. Use the Excel Sampling tool to find a simple random sample of 20 unique records

> In the Excel file Cell Phone Survey, use PivotTables to find the average for each of the numerical variables for different cell phone carriers and gender of respondents

> The Excel file Internet Usage provides data about users of the Internet. Construct stacked bar charts that will allow you to compare any differences due to age or educational attainment and draw any conclusions that you can. Would another type of charts

> Using the data in the worksheet Consumer Transportation Survey, develop 95% confidence intervals for the following:a. The proportion of individuals who are satisfied with their vehicleb. The proportion of individuals who have at least one child

> Trade associations, such as the United Dairy Farmers Association, frequently conduct surveys to identify characteristics of their membership. If this organization conducted a survey to estimate the annual per-capita consumption of milk and wanted to be 9

> Call centers typically have high turnover. The director of human resources for a large bank has compiled data on about 70 former employees at one of the bank’s call centers in the Excel file Call Center Data. In writing an article about call center worki

> An investor estimates that there is a 1 in 10 chance that a stock purchase will lose 20% of its value, a 2 in 10 chance that it will break even, a 4 in 10 chance that it will gain 15%, and a 3 in 10 chance that it will gain 30%. What is the expected retu

> In the roulette example described in Problem 7, what is the probability that the outcome will be green twice in a row? What is the probability that the outcome will be black twice in a row?In Problem 7Roulette is played at a table similar to the one in F

> An investor estimates that there is a 1 in 10 chance that a stock purchase will lose 20% of its value, a 2 in 10 chance that it will break even, a 4 in 10 chance that it will gain 15%, and a 3 in 10 chance that it will gain 30%. What is the expected retu

> Part 1: The Performance Lawn Equipment database contains data needed to develop a pro forma income statement. Dealers selling PLE products all receive 18% of sales revenue for their part of doing business, and this is accounted for as the selling expense

> In the scenario in Problem 2, what is the probability of drawing an ace first followed by a 2? How does this differ if the first card is replaced in the deck? Clearly explain what formulas you use and why

> In the roulette example described in Problem 7, what is the probability that the outcome will be green twice in a row? What is the probability that the outcome will be black twice in a row?In Problem 7Roulette is played at a table similar to the one in F

> In the scenario in Problem 2, what is the probability of drawing an ace first followed by a 2? How does this differ if the first card is replaced in the deck? Clearly explain what formulas you use and why

> Four key marketing decision variables are price (P), advertising (A), transportation (T), and product quality (Q). Consumer demand (D) is influenced by these variables. The simplest model for describing demand in terms of these variables isD = k - pP + a

> Identify some business applications in which judgmental forecasting techniques such as historical analogy and the Delphi method would be useful

> Elizabeth Burke wants to develop a model to more effectively plan production for the next year. Currently, PLE has a planned capacity of producing 9,100 mowers each month, which is approximately the average monthly demand over the previous year. However,

> The demand for airline travel is quite sensitive to price. Typically, there is an inverse relationship between demand and price; when price decreases, demand increases and vice versa. One major airline has found that when the price (P) for a round trip b

> One of PLE’s manufacturing facilities produces metal engine housings from sheet metal for both mowers and tractors. Production of each product consists of five steps: stamping, drilling, assembly, painting, and packaging to ship to its

> Construct a column chart for the data in the Excel file State Unemployment Rates to allow comparison of the June rate with the historical highs and lows. Would any other charts be better to visually convey this information? Why or why not?

> An online bookseller is considering selling an e-reader but will only do so if they have evidence that the proportion of customers that will likely purchase one is at least 0.4. Based on a survey of 25 customers, it was found that 8 of them stated that t

> In the Excel file Facebook Survey, use a PivotTable to find the average and standard deviation of hours online/week and number of friends for females and males in the sample

> Historical data show that customers who download music from a popular Web service spend approximately $26 per month, with a standard deviation of $4. Find the probability that a customer will spend at least $20 per month. How much (or more) do the top 10