Question: Reuters reports that 15 percent of Australians

> High school seniors with strong academic records apply to the nation’s most selective colleges in greater numbers each year. Because the number of slots remains relatively stable, some colleges reject more early applicants. Suppose that for a recent admi

> A survey of magazine subscribers showed that 45.8% rented a car during the past 12 months for business reasons, 54% rented a car during the past 12 months for personal reasons, and 30% rented a car during the past 12 months for both business and personal

> A marketing firm would like to test-market the name of a new energy drink targeted at 18- to 29-year-olds via social media. A study by the Pew Research Center found that 35% of U.S. adults (18 and older) do not use social media (Pew Research Center websi

> Information about mutual funds provided by Morningstar includes the type of mutual fund (Domestic Equity, International Equity, or Fixed Income) and the Morningstar rating for the fund. The rating is expressed from 1-star (lowest rating) to 5-star (highe

> A 2018 Pew Research Center survey (Pew Research website) examined the use of social media platforms in the United States. The survey found that there is a .68 probability that a randomly selected American will use Facebook and a .25 probability that a ra

> Lori Jeffrey is a successful sales representative for a major publisher of college textbooks. Historically, Lori obtains a book adoption on 25% of her sales calls. Viewing her sales calls for one month as a sample of all possible sales calls, assume that

> Clarkson University surveyed alumni to learn more about what they think of Clarkson. One part of the survey asked respondents to indicate whether their overall experience at Clarkson fell short of expectations, met expectations, or surpassed expectations

> Suppose that we have a sample space S = {E1, E2, E3, E4, E5, E6, E7}, where E1, E2, . . . , E7 denote the sample points. The following probability assignments apply: P(E1) = .05, P(E2) = .20, P(E3) = .20, P(E4) = .25, P(E5) = .15, P(E6) = .10, and P(E7)

> Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, E4, E5. Let A = {E1, E2} B = {E3, E4} C = {E2, E3, E5} a. Find P(A), P(B), and P(C). b. Find P(A ∪ B). Are A and B mutually exclusive? c. Find Ac, Cc, P(Ac),

> The National Highway Traffic Safety Administration (NHTSA) collects traffic safety-related data for the U.S. Department of Transportation. According to NHTSA’s data, 10,426 fatal collisions in 2016 were the result of collisions with fixed objects (NHTSA

> Suppose that the following table represents a sample of 944 teenagers’ responses to the question, “When do you think you will become financially independent?” Age of Financially Independent …………………….. Number of Responses 16 to 20 ……………………………………………………………

> How many ways can three items be selected from a group of six items? Use the letters A, B, C, D, E, and F to identify the items, and list each of the different combinations of three items.

> Do you think global warming will have an impact on you during your lifetime? A 2014 CBS News/New York Times poll of 1000 adults in the United States asked this question (CBS News website). Consider the responses by age groups shown below. a. What is th

> Each year Fortune magazine publishes an annual list of the 500 largest companies in the United States. The corporate headquarters for the 500 companies are located in 38 different states. The following table shows the 8 states with the largest number of

> Refer to the KP&L sample points and sample point probabilities in Tables 4.2 and 4.3. a. The design stage (stage 1) will run over budget if it takes 4 months to complete. List the sample points in the event the design stage is over budget. b. What is

> Consider the experiment of rolling a pair of dice. Suppose that we are interested in the sum of the face values showing on the dice. a. How many sample points are possible? b. List the sample points. c. What is the probability of obtaining a value of 7?

> The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one traffic ticket during a five-year period is .15. a. Show the sampling distribution of p̅ if a random sample of 150 insured individuals is used

> Consider the experiment of selecting a playing card from a deck of 52 playing cards. Each card corresponds to a sample point with a 1/52 probability. a. List the sample points in the event an ace is selected. b. List the sample points in the event a club

> An experiment has four equally likely outcomes: E1, E2, E3, and E4. a. What is the probability that E2 occurs? b. What is the probability that any two of the outcomes occur (e.g., E1 or E3)? c. What is the probability that any three of the outcomes occur

> The Powerball lottery is played twice each week in 44 states, the District of Columbia, and the Virgin Islands. To play Powerball, a participant must purchase a $2 ticket, select five numbers from the digits 1 through 69, and then select a Powerball numb

> A company that manufactures toothpaste is studying five different package designs. Assuming that one design is just as likely to be selected by a consumer as any other design, what selection probability would you assign to each of the package designs? In

> A Gallup Poll of U.S. adults indicated that Kentucky is the state with the highest percentage of smokers (Gallup website). Consider the following example data from the Tri-State region, an area that comprises northern Kentucky, southeastern Indiana, and

> Code Churn is a common metric used to measure the efficiency and productivity of software engineers and computer programmers. It’s usually measured as the percentage of a programmer’s code that must be edited over a sh

> An experiment has three steps with three outcomes possible for the first step, two outcomes possible for the second step, and four outcomes possible for the third step. How many experimental outcomes exist for the entire experiment?

> Which companies spend the most money on advertising? Business Insider maintains a list of the top-spending companies. In 2014, Procter & Gamble spent more than any other company, a whopping $5 billion. In second place was Comcast, which spent $3.08 b

> Suppose that an independent study of middle-level managers employed at companies located in Atlanta, Georgia, was conducted to compare the salaries of managers working at firms in Atlanta to the salaries of middle-level managers across the nation. The fo

> There is a severe shortage of critical care doctors and nurses to provide intensive-care services in hospitals. To offset this shortage, many hospitals, such as Emory Hospital in Atlanta, are using electronic intensive-care units (eICUs) to help provide

> Advertisers contract with Internet service providers and search engines to place ads on websites. They pay a fee based on the number of potential customers who click on their ad. Unfortunately, click fraud—the practice of someone clicking on an ad solely

> Consider a sample with data values of 53, 55, 70, 58, 64, 57, 53, 69, 57, 68, and 53. Compute the mean, median, and mode.

> Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the 20th, 25th, 65th, and 75th percentiles.

> Each year Money magazine publishes a list of “Best Places to Live in the United States.” These listings are based on affordability, educational performance, convenience, safety, and livability. The list below shows the

> Many families in California are using backyard structures for home offices, art studios, and hobby areas as well as for additional storage. Suppose that the mean price for a customized wooden, shingled backyard structure is $3100. Assume that the standar

> The Graduate Management Admission Test (GMAT) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. The average GMAT score is 547 (Magoosh website). Assume that GMAT scores are bell-shaped

> Suppose that the mean retail price per gallon of regular grade gasoline in the United States is $3.43 with a standard deviation of $.10 and that the retail price per gallon has a bell-shaped distribution. a. What percentage of regular grade gasoline sold

> Consider the following data. Period Rate …………………………………… of Return (%) 1 ………………………………………………………………… 26.0 2 ………………………………………………………………… 28.0 3 ………………………………………………………………… 24.0 4 ……………………………………………………………….… 2.0 5 ………………………………………………………………….. 5.4 What is the mean

> The results of a national survey showed that on average, adults sleep 6.9 hours per night. Suppose that the standard deviation is 1.2 hours. a. Use Chebyshev’s theorem to calculate the percentage of individuals who sleep between 4.5 and 9.3 hours. b. Use

> Suppose the data have a bell-shaped distribution with a mean of 30 and a standard deviation of 5. Use the empirical rule to determine the percentage of data within each of the following ranges: a. 20 to 40 b. 15 to 45 c. 25 to 35

> Consider a sample with a mean of 30 and a standard deviation of 5. Use Chebyshev’s theorem to determine the percentage of the data within each of the following ranges: a. 20 to 40 b. 15 to 45 c. 22 to 38 d. 18 to 42 e. 12 to 48

> A market research firm conducts telephone surveys with a 40% historical response rate. What is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? In other words, what is th

> Consider a sample with a mean of 500 and a standard deviation of 100. What are the z-scores for the following data values: 520, 650, 500, 450, and 280?

> Consider a sample with data values of 10, 20, 12, 17, and 16. Compute the z-score for each of the five observations.

> The following times were recorded by the quarter- mile and mile runners of a university track team (times are in minutes). After viewing this sample of running times, one of the coaches commented that the quarter-milers turned in the more consistent ti

> Scores turned in by an amateur golfer at the Bonita Fairways Golf Course in Bonita Springs, Florida, during 2017 and 2018 are as follows: a. Use the mean and standard deviation to evaluate the golfer’s performance over the two-year pe

> Advertising Age annually compiles a list of the 100 companies that spend the most on advertising. Consumer-goods company Procter & Gamble has often topped the list, spending billions of dollars annually. Consider the data found in the file Advertising. I

> According to the 2016 Consumer Expenditure Survey, Americans spend an average of $1124 on cellular phone service annually (U.S. Bureau of Labor Statistics website). Suppose that we wish to determine if there are differences in cellular phone expenditures

> The following data were used to construct the histograms of the number of days required to fill orders for Dawson Supply, Inc., and J.C. Clark Distributors (see Figure 3.2). Use the range and standard deviation to support the previous observation that

> Consider the following data and corresponding weights. xi ………………………………………… Weight (wi) 3.2 …………………………………………………….. 6 2.0 …………………………………………………….. 3 2.5 …………………………………………………….. 2 5.0 …………………………………………………….. 8 a. Compute the weighted mean. b. Compute the samp

> The Los Angeles Times regularly reports the air quality index for various areas of Southern California. A sample of air quality index values for Pomona provided the following data: 28, 42, 58, 48, 45, 55, 60, 49, and 50. a. Compute the range and interqua

> Varatta Enterprises sells industrial plumbing valves. The following table lists the annual sales amounts for the different salespeople in the organization for the most recent fiscal year. / a. Compute the mean, variance, and standard deviation for thes

> The time (in minutes) between telephone calls at an insurance claims office has the following exponential probability distribution. f (x) = .50e-.50x for x ≥ 0 a. What is the mean time between telephone calls? b. What is the probability of having 30 s

> Great Grasslands Grains, Inc. (GGG) manufactures and sells a wide variety of breakfast cereals. GGG’s product development lab recently created a new cereal that consists of rice flakes and banana-flavored marshmallows. The company’s marketing research de

> Rob’s Market (RM) is a regional food store chain in the southwest United States. David White, Director of Business Intelligence for RM, would like to initiate a study of the purchase behavior of customers who use the RM loyalty card (a

> Hamilton County judges try thousands of cases per year. In an overwhelming majority of the cases disposed, the verdict stands as rendered. However, some cases are appealed, and of those appealed, some of the cases are reversed. Kristen DelGuzzi of The Ci

> Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retail store located in Saratoga Springs, New York. Two years ago the company developed a website and began selling its products over the Internet. Website sales have

> The pursuit of a higher education degree in business is now international. A survey shows that more and more Asians choose the master of business administration (MBA) degree route to corporate success. As a result, the number of applicants for MBA course

> The movie industry is a competitive business. More than 50 studios produce hundreds of new movies for theater release each year, and the financial success of each movie varies considerably. The opening weekend gross sales ($ millions), the total gross sa

> Pelican Stores, a division of National Clothing, is a chain of women’s apparel stores operating throughout the country. The chain recently ran a promotion in which discount coupons were sent to customers of other National Clothing store

> Although millions of elephants once roamed across Africa, by the mid-1980s elephant populations in African nations had been devastated by poaching. Elephants are important to African ecosystems. In tropical forests, elephants create clearings in the cano

> Cincinnati, Ohio, also known as the Queen City, has a population of approximately 298,000 and is the third largest city in the state of Ohio. The Cincinnati metropolitan area has a population of about 2.2 million. The city is governed by a mayor and a ni

> The movie industry is a competitive business. More than 50 studios produce hundreds of new movies for theater release each year, and the financial success of each movie varies considerably. The opening weekend gross sales ($ millions), the total gross sa

> Pelican Stores, a division of National Clothing, is a chain of women’s apparel stores operating throughout the country. The chain recently ran a promotion in which discount coupons were sent to customers of other National Clothing store

> Last year Marion Dairies decided to enter the yogurt market, and it began cautiously by producing, distributing, and marketing a single flavor—a blueberry-flavored yogurt that it calls Blugurt. The company’s initial venture into the yogurt market has bee

> Gebhardt Electronics produces a wide variety of transformers that it sells directly to manufacturers of electronics equipment. For one component used in several models of its transformers, Gebhardt uses a 3-foot length of .20 mm diameter solid wire made

> Specialty Toys, Inc., sells a variety of new and innovative children’s toys. Management learned that the preholiday season is the best time to introduce a new toy, because many families use this time to look for new ideas for December holiday gifts. When

> Several years ago, management at Tuglar Corporation established a grievance committee composed of employees who volunteered to work toward the amicable resolution of disputes between Tuglar management and its employees. Each year management issue a call

> Harriet McNeil, proprietor of McNeil’s Auto Mall, believes that it is good business for her atuomobile dealership to have more customers on the lot than can be served, as she believes this creates an impression that demand for the automobiles on her lot

> Jon Weideman, first shift foreman for Cut-Rate Machining, Inc., is attempting to decide on a vendor from whom to purchase a drilling machine. He narrows his alternatives to four vendors: The Hole-Maker, Inc. (HM); Shafts & Slips, Inc. (SS); Judge’s Jigs

> Explain the advantages and disadvantages of using factoring or discounting. (b) Discuss what type of businesses would benefit from floor-plan finance. (c) Graham Ltd is a profitable manufacturing company in the clothing industry and currently has a net w

> Investment decisions are made by managers in all types of business entities. Describe the common features of investments that must be taken into consideration for any investment decision-making activity.

> Discuss potential investment opportunities for each of the following. (a) A computer hardware manufacturer (b) A car dealership (c) A clothing retailer (d) An accounting firm

> In the 12 months to June 2018, IBM recorded $18.5 billion in cloud revenue, up 23 per cent. Ginni Rometty, IBM’s CEO, claimed ‘more clients are engaging IBM on their journey to the cloud . . . This demonstrates IBM’s unique leadership in providing innova

> Charlie Williams is a geologist working for a mining company. She spends a great deal of her time on field trips studying rocks and ground-truthing maps which have been developed from aerial and satellite surveys. Because Charlie has spent so much time i

> Chrystina and Diana own and manage Warm and Cosy, a roadside cafe located on a main highway on the way to the snowfields in the Victorian Alps. Warm and Cosy services the tourist traffic each year and, in addition, it supplies to the local community smal

> A company owned exclusively by residents in the New South Wales coastal community of Yamba is offered three projects for which the cash flows are as follows in thousands of dollars. The directors work on 12 per cent as their RRR. Assume all cash flows oc

> The directors of Summer and Rayne, a partnership of investors, have three independent investment projects before them for consideration. Each will cost $600 000 in the first instance. The net cash inflows in thousands of dollars each year of the projects

> Tracey has just started a new IT business and is thinking of leasing a new luxury car. She has her sights on a BMW coupe. A lease company offers her a deal which comprises a $35 200 payment on delivery of the vehicle, a $21100 payment at the end of year

> James Denning wants to buy a caravan rental business in the inner Melbourne suburb of Richmond. James spends $1 500 000 on the purchase of the business including caravans and further advertising and signage costs amount to $122 000. He thinks he can net

> Identify the three categories of environmental indicators as outlined by ISO 14031.

> Your friends have decided to organise a number of functions to raise funds for a trek to a Himalayan base camp. The functions planned are: a cinema night; a disco at the local hotel; and a trivia night. As you have some knowledge of accounting, they have

> Watson University offers an MBA program that is widely respected around the world. The tuition fee for the program always covered the costs of the program until a recent recession increased the sensitivity of students to the cost of tuition. The business

> In recent years, slow response times and frequent repairs have plagued Jetson Engineering’s computer system. The cause was a substantial increase in computer-aided design work that pushed the system beyond its intended capacity. Roberta Wilson, the produ

> Blue Hills Hospital is a major hospital that serves 11 small rural communities within a 40-kilometre radius. The hospital offers all the medical and surgical services of a typical small hospital. It has a staff of 12 full-time doctors and 16 part-time vi

> Talk2Me Communications manufactures headsets to make phones hands free. In 2020, the entity produced 30 000 units, of which 24 000 were sold. The following costs were recorded for 2020. Direct material ………………………………. $1 200 000 Direct labour …………………………………

> Willow and Glen is a public accounting entity that offers auditing and tax services to local small entities. The partners are in dispute over who contributes the greater amount to the entity’s profit. The area of contention is the alloc

> Overseas Adventures is a travel agency with 20 offices located throughout Australia. Caleb Thomas, the managing director, recently attended an accounting seminar on cost allocation. During a coffee break, he was overheard making the following comment to

> Zigbee & Associates is a local legal entity employing six solicitors, four paralegals and six administrative staff. The entity has a costing system that assigns costs to clients. There are two departments — legal support and commerc

> Suppose that Willow Daycare provides two different services — full-time childcare for preschoolers and after-school care for older children. The director would like to estimate an annual cost per child in each of the daycare programs, ignoring any facili

> The Top Taste Cheesecake Company supplies cheesecakes to three large supermarket chains throughout Australia. Management have become concerned about the rising costs associated with the processing and dispatch of orders. An activity analysis of the indir

> List the advantages and disadvantages of ROI, RI and EVA.

> The accountants at French Scents decide to increase the price of a scent called Summer by 10 per cent, from $6 per bottle to $6.60. The accountants for French Scents expect the 10 per cent price increase to reduce unit sales by 20 per cent. Current sales

> An improvement to the process in a children’s shirt factory will cost $1.2 million, but will result in net cost savings of $380 000 annually for the next ten years. Required (a) If funds are worth 12 per cent, what is the NPV for the investment? (b) If

> Emerald Ltd is considering a new machine which will reduce net cash inflow by $38 000 in the current year, but increase net cash inflow by $9000, $14 000, $18 000, $22 000, $26 000 and $26 000 in the following six years. Required (a) If Emerald’s cost o

> A small industrial machine costs $136 000 and is expected to earn annual net cash inflows of $58 200, $52 600, $49 500 and $42 100, before it wears out sufficiently to be unreliable and must be sold for an estimated $16 300. Required (a) If funds earn 1

> Higgins Ltd is considering the purchase of one out of two acceptable pieces of equipment. Each design is expected to have individual advantages. Required (a) What additional financial information does the board need in order to make a decision? (b) Woul

> An inner city amateur theatre company, Theatre Empire, is planning on performing a new take on two Shakespearean plays, Hamlet and Macbeth, at an old Brisbane theatre in the inner-city suburb of South Bank. The producers of the theatre plan on alternatin

> The Flametree Company has two independent projects it could invest in. The financial operations manager has completed some analysis and presented the information to the board. The board has asked you for advice. The entity uses a PP criterion of not acce

> What is the difference between the profitability and liquidity of an investment?

> What is the difference between return and capital growth on an investment? Illustrate with an example of an investment in a new warehouse.

> Discuss three environmental concerns that could impact on a business manufacturing custom-made dining tables.

> Describe economic value added (EVA).