Question: Find the expected value and variance for

> A bakery makes gourmet cookies. For a batch of 4800 oatmeal and raisin cookies, how many raisins should be used so that the probability of a cookie having no raisins is .01? [Note: A reasonable assumption is that the number of raisins in a random cookie

> During a certain part of the day, an average of five automobiles arrives every minute at the tollgate on a turnpike. Let X be the number of automobiles that arrive in any 1-minute interval selected at random. Let Y be the interarrival time between any tw

> The number of typographical errors per page of a certain newspaper has a Poisson distribution, and there is an average of 1.5 errors per page. (a) What is the probability that a randomly selected page is error-free? (b) What is the probability that a p

> On a typical weekend evening at a local hospital, the number of persons waiting for treatment in the emergency room is Poisson distributed with λ = 6.5. (a) What is the likelihood that either no one or only one person is waiting for treatment? (b) What

> A piece of new equipment has a useful life of X thousand hours, where X is a random variable with the density function f (x) = .01xe-x/10, x ≥ 0. A manufacturer expects the machine to generate $5000 of additional income for every thousand hours of use, b

> The monthly number of fire insurance claims filed with the Firebug Insurance Company is Poisson distributed with λ = 10. (a) What is the probability that in a given month no claims are filed? (b) What is the probability that in a given month no more th

> Repeat Exercise 2 with λ = 2.5 and make a histogram. Exercise 2: Let X be a Poisson random variable with parameter λ = 5. Compute the probabilities p0, … , p6 to four decimal places.

> In a large factory there is an average of two accidents per day, and the time between accidents has an exponential density function with an expected value of ½ day. Find the probability that the time between accidents will be less than 8 hours (1/3 day).

> In a large factory there is an average of two accidents per day, and the time between accidents has an exponential density function with an expected value of ½ day. Find the probability that the time between two accidents will be more than ½ day and less

> Find (by inspection) the expected values and variances of the exponential random variables with the density function given. 1.5e-1.5x

> Find (by inspection) the expected values and variances of the exponential random variables with the density function given. .2e-0.2x

> Find (by inspection) the expected values and variances of the exponential random variables with the density function given. ¼ e-x/4

> Find (by inspection) the expected values and variances of the exponential random variables with the density function given. 3e-3x

> Use the integral routine to convince yourself that ∫-∞∞ x2 f (x) dx = 1, where f (x) is the standard normal density function. [Note: Since f (x) approaches zero so rapidly as x gets large in magnitude, the value of the improper integral is nearly the sam

> The computations of the expected value and variance of an exponential random variable relied on the fact that, for any positive number k, be-kb and b2 e-kb approach 0 as b gets large. That is, lim x→∞ x ekx = 0 and lim

> An exponential random variable X has been used to model the relief times (in minutes) of arthritic patients who have taken an analgesic for their pain. Suppose that the density function for X is f (x) = k e-kx and that a certain analgesic provides relief

> If the lifetime (in weeks) of a certain brand of lightbulb has an exponential density function and 80% of all lightbulbs fail within the first 100 weeks, find the average lifetime of a lightbulb.

> Recall that the median of an exponential density function is that number M such that Pr (X ≤ M) = ½. Show that M = (ln 2)/k. (We see that the median is less than the mean.)

> Let X be the time to failure (in years) of a computer chip, and suppose that the chip has been operating properly for a years. Then, it can be shown that the probability that the chip will fail within the next b years is Pr (a ≤ X ≤ a + b) / Pr (a ≤ X).

> The Math SAT scores of a recent freshman class at a university were normally distributed, with µ = 535 and σ = 100. (a) What percentage of the scores were between 500 and 600? (b) Find the minimum score needed to be in the top 10% of the class.

> A certain type of bolt must fit through a 20-millimeter test hole or else it is discarded. If the diameters of the bolts are normally distributed, with µ = 18.2 millimeters and σ = .8 millimeters, what percentage of the bolts will be discarded?

> Which route should the student in Exercise 29 take if she leaves home at 7:26 a.m.? Exercise 29: A student with an eight o’clock class at the University of Maryland commutes to school by car. She has discovered that along each of two possible routes her

> A student with an eight o’clock class at the University of Maryland commutes to school by car. She has discovered that along each of two possible routes her traveling time to school (including the time to get to class) is approximately a normal random va

> The amount of weight required to break a certain brand of twine has a normal density function, with µ = 43 kilograms and σ = 1.5 kilograms. Find the probability that the breaking weight of a piece of the twine is less than 40 kilograms.

> If the amount of milk in a gallon container is a normal random variable, with µ = 128.2 ounces and σ = .2 ounce, find the probability that a random container of milk contains less than 128 ounces.

> Suppose that the life span of a certain automobile tire is normally distributed, with µ = 25,000 miles and σ = 2000 miles. (a) Find the probability that a tire will last between 28,000 and 30,000 miles. (b) Find the probability that a tire will last mo

> The condenser motor in an air conditioner costs $300 to replace, but a home air-conditioning service will guarantee to replace it free when it burns out if you will pay an annual insurance premium of $25. The life span of the motor is an exponential rand

> The gestation period (length of pregnancy) of a certain species is approximately normally distributed with a mean of 6 months and standard deviation of 12 month. (a) Find the percentage of births that occur after a gestation period of between 6 and 7 mo

> Calculate the area under the standard normal curve for values of z (a) between .5 and 1.5, (b) between -.75 and .75, (c) to the left of -.3, (d) to the right of -1.

> Let Z be a standard normal random variable. Calculate (a) Pr (-1.3 ≤ Z ≤ 0) (b) Pr (.25 ≤ Z) (c) Pr (-1 ≤ Z ≤ 2.5) (d) Pr (Z ≤ 2)

> Show that the function f (x) = e-(1/2)[(x-µ)/σ]2 has inflection points at x = m ± s.

> Show that the function f (x) = e-x2/2 has inflection points at x = ± 1.

> Show that the function f (x) = e-(1/2)[(x-m)/s]2 has a relative maximum at x = m.

> Show that the function f (x) = e-x2/2 has a relative maximum at x = 0.

> Find the expected values and the standard deviations (by inspection) of the normal random variables with the density function given. 1/5√2π e-(1/2)[(x-3)/5]2

> Find the expected values and the standard deviations (by inspection) of the normal random variables with the density function given. 1/3√2π e-(1/18)x2

> Find the expected values and the standard deviations (by inspection) of the normal random variables with the density function given. 1/√2π e-(1/2)(x+5)2

> The lifetime of a certain computer monitor is an exponential random variable with an expected value of 5 years. The manufacturer sells the monitor for $100, but will give a complete refund if the monitor burns out within 3 years. Then, the revenue that t

> Find the expected values and the standard deviations (by inspection) of the normal random variables with the density function given. 1/√2π e-(1/2)(x-4)2

> In a study of the vacancies occurring in the U.S. Supreme Court, it has been determined that the time elapsed between successive resignations is an exponential random variable with expected value 2 years. Consider a group of patients who have been treate

> In a study of the vacancies occurring in the U.S. Supreme Court, it has been determined that the time elapsed between successive resignations is an exponential random variable with expected value 2 years. Suppose that the average life span of an electron

> In a study of the vacancies occurring in the U.S. Supreme Court, it has been determined that the time elapsed between successive resignations is an exponential random variable with expected value 2 years. Find the probability that the composition of the

> In a study of the vacancies occurring in the U.S. Supreme Court, it has been determined that the time elapsed between successive resignations is an exponential random variable with expected value 2 years. A new president takes office at the same time tha

> During a certain part of the day, the time between arrivals of automobiles at the tollgate on a turnpike is an exponential random variable with expected value 20 seconds. Find the probability that the time between successive arrivals is greater than 10 s

> During a certain part of the day, the time between arrivals of automobiles at the tollgate on a turnpike is an exponential random variable with expected value 20 seconds. Find the probability that the time between successive arrivals is more than 60 seco

> The amount of time required to serve a customer at a bank has an exponential density function with mean 3 minutes. Find the probability that serving a customer will require more than 5 minutes.

> The amount of time required to serve a customer at a bank has an exponential density function with mean 3 minutes. Find the probability that a customer is served in less than 2 minutes.

> Find the expected value and variance for each random variable whose probability density function is given. When computing the variance, use formula (5). f (x) = 2(x - 1), 1 ≤ x ≤ 2

> A needle of length 1 unit is dropped on a floor that is ruled with parallel lines, 1 unit apart. [See Fig. 3.] Let P be the lowest point of the needle, y the distance of P from the ruled line above it, and u the angle the needle makes with a line paralle

> Use the formula in Exercise 25 to compute E(X ) for the random variable X in Exercise 12. Exercise 25: Show that E(X ) = B - ∫AB F (x) dx, where F (x) is the cumulative distribution function for X on A ≤ x ≤ B. Exercise 12: The time (in minutes) requir

> Show that E(X ) = B - ∫AB F (x) dx, where F (x) is the cumulative distribution function for X on A ≤ x ≤ B.

> Find the number M such that, half of the time, the dairy in Exercise 16 sells M thousand gallons of milk or less. Exercise 16: Find Pr (1.5 ≤ X ≤ 1.7) when X is a random variable whose density function is given in Exercise 2. Exercise 2: f (x) = 2(x -

> In Exercise 20 of Section 12.2, find the length of time T such that about half of the time you wait only T minutes or less in the express lane at the supermarket. Exercise 20: At a certain supermarket, the amount of wait time at the express lane is a ra

> In Exercise 12, find the length of time T such that half of the assemblies are completed in T minutes or less. Exercise 12: The time (in minutes) required to complete an assembly on a production line is a random variable X with the cumulative distributi

> The machine component described in Exercise 11 has a 50% chance of lasting at least how long? Exercise 11: The useful life (in hundreds of hours) of a certain machine component is a random variable X with the cumulative distribution function F (x) = 1/9

> If X is a random variable with density function f (x) on A ≤ x ≤ B, the median of X is that number M such that ∫AMf (x) dx = 1/2. In other words, Pr (X ≤ M ) = 1/2. Find the median of the random variable whose density function is f (x) = 2(x - 1), 1 ≤ x

> If X is a random variable with density function f (x) on A ≤ x ≤ B, the median of X is that number M such that ∫AMf (x) dx = 1/2. In other words, Pr (X ≤ M ) = 1/2. Find the median of the random variable whose density function is f (x) = 1/18 x, 0 ≤ x ≤

> Let X be a continuous random variable with density function f (x) = 3x-4, x ≥ 1. Compute E(X ) and Var(X ).

> A point is selected at random from the rectangle of Fig. 2; call its coordinates (u, y). Find the probability that y ≤ sin θ. Figure 2:

> For any positive number k, verify that f (x) = 1/(2k3) x2 e-x/k, x ≥ 0, is a density function.

> Osborne Organic Foods, Inc., has the following information for the years ending December 31, 2018, and December 31, 2017: Requirements 1. Compute the rate of inventory turnover for Osborne Organic Foods, Inc., for the years ended December 31, 2018, and

> Wild Things, Inc., has the following information as of December 31, 2018: Requirements 1. Compute the rate of inventory turnover for Wild Things, Inc., for the year ended December 31, 2018. Round the result to two decimal places. 2. The rate of invento

> Master Blaster, Inc., sells and installs audio equipment. Master Blaster, Inc.’s entire inventory was destroyed during a recent fire that occurred at its warehouse. Master Blaster, Inc.’s accounting records reflect the following information: Beginning I

> Mike’s Custom Furniture, Inc., reported the following comparative income statements for the years ended April 30, 2018, and April 30, 2017. During 2018, Mike’s Custom Furniture, Inc., discovered that the 2017 ending

> Top Fuel Auto Parts, Inc., had the following FIFO perpetual inventory record for one of its inventory items at November 30, the end of the fiscal year. A physical count of the inventory performed at year’s end revealed $172.20 (28 ite

> Eaton Supply, Inc., has the following account balances at May 31, 2018. The inventory balance was determined using FIFO. Eaton Supply, Inc., has determined that the replacement cost (current market value) of the May 31, 2018, ending inventory is $35,90

> Assume Fisher Tire, Inc., completed the following perpetual inventory transactions for a line of tires. Beginning Inventory 38 tires ……………………………. @ $130 Purchase 16 tires …………………………………………….. @ $135 Sale 43 tires …………………………………………………… @ $224 Requirements

> Refer to the data for Alpine Bikes, Inc., in E5-19A. Requirements 1. Compute the cost of ending inventory under FIFO. 2. Compute the cost of ending inventory under LIFO. 3. Which method results in a higher cost of ending inventory? E5-19A: Assume Alpin

> Assume Alpine Bikes, Inc., bought and sold a line of mountain bikes during October as follows: Alpine Bikes, Inc., uses the perpetual inventory system. Requirements 1. Compute the cost of goods sold under FIFO. 2. Compute the cost of goods sold under

> Refer to the data for E5-16A. However, instead of the FIFO method, assume Golfer’s Delight, Inc., uses the average cost method. Requirements 1. Prepare a perpetual inventory record for the putters on the average cost basis to determine

> Golfer’s Delight, Inc., carries a line of titanium putters. Golfer’s Delight, Inc., uses the FIFO method and a perpetual inventory system. The sale price of each putter is $195. Company records indicate the following a

> This exercise continues with the business of Sensations Salon, Inc., begun in the Continuing Exercise in Chapter 1. Instead of entering the transactions in the accounting equation as you did in Chapter 1, now you will account for Sensations Salon, Inc.&a

> Sunshine Solar, Inc., had sales revenue of $445,000, cost of goods sold of $193,000, and net income of $96,000 for the year. An average of 4,000 shares of common stock were outstanding during the year. Requirement 1. Compute Sunshine Solar, Inc.’s earni

> Use the data for Grease Monkey Auto Supply, Inc., from E4-34B. Requirement 1. Prepare Grease Monkey Auto Supply, Inc.’s classified balance sheet. Use the account format. The balance shown for Retained Earnings represents the balance be

> Use the data for Grease Monkey Auto Supply, Inc., from E4-34B. Requirements 1. Prepare Grease Monkey Auto Supply Inc.’s multistep income statement. 2. Calculate the gross profit percentage. 3. The gross profit percentage for 2017 was 5

> The account balances for Grease Monkey Auto Supply, Inc., for the year ended December 31, 2018, are presented next in random order: Requirements 1. Prepare Grease Monkey Auto Supply, Inc.’s single-step income statement. 2. Would you r

> Consider the following incomplete table of a merchandiser’s profit data: Requirement 1. Complete the table by computing the missing amounts.

> The following transactions occurred during November 2018 for Specialty T-Shirts, Inc.: Requirement 1. Journalize the November transactions for Specialty T-Shirts, Inc., assuming the “net” method is used. No explanati

> Journalize the following transactions for Luna’s Wholesale, Inc., that occurred during the month of September, assuming the “net” method is used. Luna’s Wholesale, Inc.â€&

> On April 14, 2018, Discount Furniture, Inc., sold $4,200 of inventory (cost is $1,350) on account to one of its customers. The terms were 1/10, n/30, FOB destination. On April 16, Discount Furniture, Inc., paid freight charges of $145 related to the deli

> The Country Carver had sales totaling $14,800 during the month of June. Based on experience, company management expects 7 percent of the sales amount will be refunded to customers in the form of sales returns and allowances. The cost to The Country Carve

> Journalize the following transactions for The Roger’s Computer, Inc., that occurred during the month of December. Assume the “net” method is used.

> This exercise is the first exercise in a sequence that begins an accounting cycle. The cycle is continued in Chapter 2 and completed in Chapter 3. Sensations Salon, Inc., was opened by Sharmaine Crosswhite in her home and completed the following transact

> On September 15, 2018, A.D. Wholesale, Inc. purchased $4,200 of inventory on account from one of its suppliers. The terms were 1/15, n/30, FOB shipping point. On September 17, A.D. Wholesale, Inc., paid freight charges of $150 related to the delivery of

> Whole Foods, Inc., had sales revenue of $560,000, cost of goods sold of $224,000, and net income of $84,000 for the year. An average of 8,000 shares of common stock were outstanding during the year. Requirement 1. Compute Whole Foods, Inc.’s earnings pe

> Use the data for Spark’s Electrical Supply, Inc., from E4-22A. Requirements 1. Prepare Spark’s Electrical Supply, Inc.’s multistep income statement. 2. Calculate the gross profit percentage. 3. The g

> The account balances for Spark’s Electrical Supply, Inc., for the year ended August 31, 2018, are presented next in random order: Requirements 1. Prepare Spark’s Electrical Supply, Inc.’s single-ste

> Consider the following incomplete table of a merchandiser’s profit data: Requirement 1. Complete the table by computing the missing amounts.

> The following transactions occurred during June 2018 for Soulful Art, Inc.: Requirement 1. Journalize the June transactions for Soulful Art, Inc., assuming the net method is used. No explanations are required.

> Journalize the following transactions for Bridgeport Audio, Inc., that occurred during the month of November, assuming the “net” method is used. Bridgeport Audio’s cost of inventory is 55 percent of t

> On July 14, 2018, Salem Food Wholesale, Inc., sold $2,700 of inventory (cost is $1,050) on account to one of its customers. The terms were 2/10, n/30, FOB destination. On July 16, Salem Food Wholesale, Inc., paid freight charges of $115 related to the de

> The Knotty Splinter had sales during the month of June that totaled $5,300. Based on experience, company management expects 8 percent of the sales amount will be refunded to customers in the form of sales returns and allowances. The cost to The Knotty Sp

> Journalize the following transactions for Inland Empire Supply, Inc., that occurred during the month of March. Assume the “net” method is used.

> In this exercise, we will continue the accounting for Sensations Salon, Inc. Assume that on September 30, 2018, Sensations Salon, Inc., borrowed $6,500 from State Bank, signing a nine-month, 71∕2 percent note. The fiscal year end is December 31. Require

> On October 15, 2018, Chandler’s Department Store purchased $3,900 of inventory on account from one of its suppliers. The terms were 2/15, n/45, FOB shipping point. On October 17, Chandler’s Department Store paid freight charges of $140 related to the del

> The Inventory account for Kelly’s Florist, Inc., had a balance of $27,300 at the end of its fiscal year. A physical count taken at year end revealed that the value of inventory on hand amounted to $26,950. Requirements 1. Journalize the adjustment for i

> The following is the adjusted trial balance of Health Services, Inc., for December 31, 2018 Requirement 1. Journalize the closing entries at December 31.

> The following post-closing trial balance was prepared for Speedy Prints, Inc., but some balances were entered in the wrong column. Prepare a corrected post-closing trial balance. Assume all accounts have normal balances and the amounts are correct.

> From the following accounts of Done Right Auto Detail, Inc., prepare the business’s statement of retained earnings for the year ended March 31, 2018.

> Prepare McGinty Electrical’s closing entries using the following selected accounts at June 30, 2018 2. What is McGinty Electrical’s ending Retained Earnings balance at June 30, 2018?