Bones brothers & associates prepare individual tax returns. over prior years, bones brothers has maintained careful records regarding the time to prepare a return. the mean time to prepare a return is 90 minutes, and the population standard deviation of this distribution is 14 minutes. suppose 130 returns from this year are selected and analyzed regarding the preparation time. what is the probability that the mean time for the sample of 130 returns is between 88 minutes and 92 minutes? multiple choice approximately 1 0.1416 0.8968 0.8832
Answers
We will use the properties of the sampling distribution of the sample mean. Given the population mean (µ) is 90 minutes and the population standard deviation (σ) is 14 minutes, we can calculate the probability that the sample mean of 130 tax returns falls between 88 and 92 minutes.
1. Calculate the standard error (SE) of the sample mean: SE = σ / √n, where n is the sample size (130 in this case).
SE = 14 / √130 ≈ 1.226
2. Calculate the Z-scores for the boundaries of the interval (88 and 92 minutes) using the formula: Z = (X - µ) / SE
Z1 = (88 - 90) / 1.226 ≈ -1.632
Z2 = (92 - 90) / 1.226 ≈ 1.632
3. Find the probability between the Z-scores using a Z-table or calculator.
P(Z1 < Z < Z2) ≈ P(-1.632 < Z < 1.632) ≈ 0.8968
The probability that the mean time for the sample of 130 returns is between 88 minutes and 92 minutes is approximately 0.8968, which is option 3 in the multiple-choice list.
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Related Questions
The mandatory payroll deduction that includes Social Security and Medicare
is referred to as_____.
A. state withholding
B. FICA
C. 401(k)
D. 501(c)(3)
Answers
Answer:
the answer is B.FICA
Which of the following statements is true about negotiations?
A. Negotiations are also known as sales presentations.
B. Negotiations exclude people from the selling firm who are not part of the sales department.
C. Formal negotiations can take place with anyone who is classified as a buyer or user.
D. Negotiating is a less expensive endeavor as it hardly requires people to spend time.
E. If the customer is large or important enough, almost anything can be negotiated.
Answers
According to he given question the correct option is C which is Formal negotiations can take place with anyone who is classified as a buyer or user.
The true statement about negotiations is that formal negotiations can take place with anyone who is classified as a buyer or user. Negotiations are not the same as sales presentations, as negotiations involve a back-and-forth discussion to come to a mutually beneficial agreement.
It is also not true that negotiations exclude people from the selling firm who are not part of the sales department, as different departments may have valuable input or expertise to contribute. Negotiating can actually be a time-consuming and expensive process, as it often requires extensive preparation and discussion.
While it is true that larger or more important customers may have more negotiating power, it is not necessarily true that they can negotiate for almost anything. Formal negotiations can take place with anyone who is classified as a buyer or user.
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The table below gives information extracted from the annual accounts of Make-it (Pty) Ltd for the past two years. Make-it (Pty) Ltd : Extracts from year-end accounts: Stocks: Raw materials Work-in- progress Finished goods Purchases Cost of goods sold Sales Debtors Trade creditors Year 1 R'000 276 186 285 1 440 2 196 2 376 594 252 Year 2 R'000 291 194 259 1 404 1 944 2 160 562 210 You are required to: Answer the following questions: a) Calculate the length of the working capital cycle for years 1 and 2 assuming 365 days in the year and using end of year working capital balances, not averages.
Answers
The length of the working capital cycle for year 1 is approximately 75.16 days, and for year 2 it is approximately 102.94 days. To calculate the length of the working capital cycle for years 1 and 2, we need to consider the components involved: stocks, debtors, and trade creditors. The formula to calculate the working capital cycle is:
Working Capital Cycle = Days of Inventory + Days of Receivables - Days of Payables
We will calculate each component separately and then subtract the days of payables from the sum of days of inventory and days of receivables.
Let's calculate the working capital cycle for years 1 and 2 using the given information:
Year 1: Days of Inventory = (Stocks / Cost of Goods Sold) * 365
= ((276 + 186 + 285) / 2,196) * 365
= 47.04 days
Days of Receivables = (Debtors / Sales) * 365
= (594 / 2,376) * 365
= 91.87 days
Days of Payables = (Trade Creditors / Purchases) * 365
= (252 / 1,440) * 365
= 63.75 days
Working Capital Cycle (Year 1) = Days of Inventory + Days of Receivables - Days of Payables
= 47.04 + 91.87 - 63.75
= 75.16 days
Year 2: Days of Inventory = (Stocks / Cost of Goods Sold) * 365
= ((291 + 194 + 259) / 1,944) * 365
= 62.79 days
Days of Receivables = (Debtors / Sales) * 365
= (562 / 2,160) * 365
= 95.21 days
Days of Payables = (Trade Creditors / Purchases) * 365
= (210 / 1,404) * 365
= 55.06 days
Working Capital Cycle (Year 2) = Days of Inventory + Days of Receivables - Days of Payables
= 62.79 + 95.21 - 55.06
= 102.94 days
Therefore, the length of the working capital cycle for year 1 is approximately 75.16 days, and for year 2 it is approximately 102.94 days.
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Which area is particularly challenging when recruiting workers for small businesses?.
Answers
The area that is particularly challenging when recruiting workers for small businesses is compensation.
What is compensation?It should be noted that compensation simply means how much they workers will be paid as how to motivate them.
In this case, the area that is particularly challenging when recruiting workers for small businesses is compensation.
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new corp. issues 2,000 shares of $10 par value common stock at $16 per share. when the transaction isrecorded, credits are made toa. common stock $20,000 and paid-in capital in excess of stated value $12,000.b. common stock $32,000.c. common stock $20,000 and paid-in capital in excess of par $12,000.d. common stock $20,000 and retained earnings $12,000
Answers
The correct answer is (C) common stock $20,000 and paid-in capital in excess of par $12,000.
When a corporation issues shares of common stock, it records the transaction in the stockholders' equity section of its balance sheet. The par value is the minimum price at which a share can be issued, and it is set by the corporation's charter. In this case, the par value of the common stock is $10 per share.
However, the actual price at which the shares are issued may be higher or lower than the par value. In this case, the shares are issued at $16 per share, which is higher than the par value. The difference between the issue price and the par value is called the "paid-in capital in excess of par" or "additional paid-in capital."
To record this transaction, the corporation would debit the cash account for $32,000 (2,000 shares x $16 per share). It would then credit the common stock account for $20,000 (2,000 shares x $10 par value per share) and the paid-in capital in excess of par account for $12,000 (2,000 shares x $6 additional paid-in capital per share).
The retained earnings account is not affected by this transaction because the corporation is not using any of its earnings to issue the shares of common stock.
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Most economists agree that the immediate determinant of the volume of output and employment is the
Answers
Majority of the economists agree that the immediate determinant of the volume of output and employment is the level of total spending.
What is the total spending?This refers to the sum of the price that is paid for products or services multiplied by the amount of each item purchased.
Hence, the economists most especially agree that the immediate determinant of the volume of output and employment in an economy is the level of total spending.
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According to Peter Drucker, a good business model must at a
minimum, answer several questions: Who is the customer? What does
the customer value? How do we make money in this business?
Answers
According to Peter Drucker, a good business model must answer three essential questions to lay the foundation for success.
First, identifying the customer is crucial for understanding the target market and tailoring products or services to their needs. Second, understanding what the customer values allows the business to create a compelling value proposition that sets it apart from competitors.
Lastly, determining how the business makes money involves developing a clear revenue generation strategy and ensuring a sustainable cost structure.
By addressing these questions, a well-defined business model aligns the organization's activities with customer demands and financial objectives, providing a roadmap for long-term success.
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The following is the trial balance of kencho sales located in Tabs, Thimphu as on 31st December 2019.You are required to prepare financial statements as at 31st December 2019.
Answers
A financial institution that accepts deposits makes loans and provides other services as a nonprofit organization is called a:
A. Credit Union
B. Retail Bank
C. Title Pawn Lender
D. Payday Lender
Answers
Credit Unions are nonprofit financial institutions that accept deposits, provide loans, and offer other services. As a result, choice (A) is right.
What is meant by a nonprofit organization?A nonprofit organization (NPO) or non-profit organization is a legal entity organized and operated for a collective, public, or social benefit, as opposed to an entity that operates as a business with the goal of making a profit for its owners. It is also referred to as a non-business entity,[1] or nonprofit institution,
The non-distribution constraint applies to nonprofit organizations, which means that any surplus funds must be used to further their mission rather than being distributed to other parties.
A wide range of organizations, including certain political organizations, schools, business organisations, churches, social clubs, and consumer cooperatives, are nonprofit. Governments may grant tax-exempt status to nonprofit organizations, and some may be eligible for tax-deductible donations. However, an organization can establish as a nonprofit organization without obtaining tax-exempt status.
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If we count marginally attached workers as unemployed ______.
a. The unemployment rate rises
b. The size of the labor force does not change
c. The unemployment rate falls
d. THe unemployment to population ration rises
Answers
as the unemployment to population ratio grows, marginally attached workers become unemployed.
Is a worker with a weak attachment unemployed?
The marginally attached are those who are not currently in the labour force but who want and are available for work, had sought for a job at some point in the previous 12 months, but who were not classed as unemployed because they had not looked for work in the 4 weeks before to the survey. Underemployed people, workers with weak work attachments, and discouraged workers are some of the categories included in the real unemployment rate that are not included in the U-3 unemployment rate. People who are underemployed are part-time employees who would prefer full-time positions. They are included in the labour force and counted as employed in the U-3 report.
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If an employer agrees to give you constructive criticism of your interview performance, you need to listen carefully and take notes. true or false?
Answers
Answer: True
Explanation:
As the employed you work for the employer which means that it is best to act in a way that the employer deems appropriate.
If the employer therefore gives you constructive criticism, it is most likely to get you to act in a way that they deem appropriate. It would be best to listen carefully and take notes for reference because chances are that such advice will benefit you greatly with other employers or with your employees should you decide to set up your own shop.
SECTION B
ANSWER ALL ITEMS IN THIS SECTION.
1. Fill in the blanks by classifying the following activities as primary, secondary or
tertiary production.
(Total 5 marks)
A
= Banking
В.
= Forestry
С.
Canning of fish
D.
= Doctor
Е.
Working as a lumberjack
Answers
A-tertiary
B-primary
C-secondary
D-tertiary
E-primary
PLEASE MARK ME BRAINLIEST
define business systems
Answers
Answer:
In business terminology, a business system refers to the value-added chain, which describes the value-added process, meaning the supply of goods and services. A business can span one or several business systems. Each business system, in itself, generates economic benefit.hope it helps.stay safe healthy and happy...How much of the total did Raul contribute himself
Answers
1. The total balance in the account after 40 years would be $192,520.
What is balance?Balance is a fundamental concept in a wide range of disciplines, including physics, biology, finance, and psychology. It refers to the ability to maintain equilibrium or stability, and the ability to adapt and adjust when faced with external challenges. Balance is achieved by creating internal stability and harmony, and by avoiding extremes and unnecessary risks. In physical terms, balance is achieved when the forces acting on a system are equal and opposite.
2. Raul contributed $120,000 himself.
3. Raul made $92,520 through compound interest in the savings account.
4. Raul could have increased the total amount of money he made over the 40 years by investing his money instead of keeping it in a savings account. Investing has the potential to earn higher returns than a savings account and has the potential to increase the total amount of money made over the 40 years.
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Complete Question:
Raul Raul is a saver. He sets aside $100 per month during his career of 40 years to prepare for retirement. He does not like the idea of investing because he prefers to minimize his risk as much as possible, so he puts his money in a savings account which earns 1.596 interest per year 1. What is the total balance in 2. How much of the total did 3. How much money did Raul the account after 40 years? Raul contribute himself? make through compound interest in this savings account? N 4. Identify one way Raul could have increased the total amount of money he made over the 40 years. Explain your reasoning.
Why is the price floor above the equilibrium point and the price ceiling below the equilibrium point? Please explain as well!
Answers
Answer:
THE GIVEN STATEMENT IS WRONG.
The prices and the quantities of the products are usually set up by considering demand and supply. Sometimes, people may not agree with the price of a certain thing. Due to these reason, the government may set a maximum and minimum price limits on a product so it always remains in a certain range.
The upper limit is Price Ceiling. When a Price Ceiling is set below the equilibrium point, the demand will exceed the supply and shortages will occur.
The lower limit is Price Floor. When a price floor is set above the equilibrium point, the supply will exceed the demand, resulting in surplus quantity of a product
You are considering a stock investment in one of two firms (NoEquity, Inc., and NoDebt, Inc.), both of which operate in the same industry and have identical operating income of $32.5 million. NoEquity, Inc., finances its $65 million in assets with $64 million in debt (on which it pays 10 percent interest annually) and $1 million in equity. NoDebt, Inc., finances its $65 million in assets with no debt and $65 million in equity. Both firms pay a tax rate of 30 percent on their taxable income. Calculate the net income and return on assets for the two firms. Return on assets = net income / total assets Accounting equation: total assets = total liabilities debt + total equity
Answers
Answer:
A. NoEquity $18.27million
NoDebt $22.75million
B. NoEquity 28.11%
NoDebt 35%
Explanation:
A. Calculation to determine the net income
NoEquity Inc., NoDebt Inc.,
Operating income $32.5 million $32.5 million
Less: Interest $6.4 million $0
($64m × 0.1)
Taxable income $ 26.10million $32.5 million
Less: Taxes (30%) ($7.83million) ($9.75million)
NET INCOME $18.27million $22.75million
Therefore The Net income for the two firms are :
NoEquity $18.27million
NoDebt $22.75million
B. Calculation to determine the Return on assets
NoEquity
Return on assets =$18.27million/$65 million
Return on assets =0.2811*100
Return on assets =28.11%
NoDebt
Return on assets = $22.75million/$65 million
Return on assets =0.35*100
Return on assets =35%
Therefore The return on assets for the two firm are:
NoEquity 28.11%
NoDebt 35%
which concept is illustrated when a third-party insurer only pays for a set number of psychiatric care visits
Answers
The concept illustrated is utilization management when a third-party insurer only pays for a set number of psychiatric care visits each year.
Utilization management is a way for insurers to limit or control the amount of healthcare services that are used by people who have health insurance.
This means that insurers will limit the amount of services or treatments that they will pay for. In the case of psychiatric care visits, an insurer may limit the number of visits that they will pay for each year.
This helps to keep costs down and ensure that people are receiving the care they need in a timely and efficient manner.
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8. A debt of a business
Answers
Answer:
Description: Debt means the amount of money which needs to be repaid back and financing means providing funds to be used in business activities. An important feature in debt financing is the fact that you are not losing ownership in the company.
Because careless drivers are more likely to seek insurance coverage, insurance companies end up covering many careless drivers (an example of); and drivers with auto insurance are more likely to be careless (an example of
Answers
The situation described is an example of adverse selection, which occurs when those who are most likely to need or use a particular product or service are the ones who end up purchasing it.
In the case of insurance, careless drivers are more likely to seek coverage because they are aware of the risks they pose on the road. This leads to a higher proportion of claims and payouts for insurance companies. Additionally, drivers with auto insurance may be more likely to be careless because they feel protected by their coverage and are not as cautious as they should be. This is an example of moral hazard, which refers to the tendency of individuals to take greater risks when they are insulated from the consequences of those risks. Both adverse selection and moral hazard can have significant impacts on the insurance industry and the behavior of insured individuals.
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an auto designer chooses to devote his efforts to designing an automobile that is the safest vehicle possible. he does so because he wishes to save lives and prevent disabling injuries. he believes he and his employer have a duty to provide the public with the safest possible vehicle. the designer's approach to ethical decision-making is best characterized as: a. utilitarian. b. deontological. c. ethically relative. d. ethically fundamental.
Answers
The designer's approach to ethical decision-making is best characterized as deontological.
What is deontological?
Deontological ethics, often known as deontology, is a normative ethical theory that holds that morality should be determined by whether the action is right or wrong in accordance with a set of rules and principles, as opposed to the consequences of the conduct. According to the ethical theory of deontology, there are certain principles that determine whether an action is good or evil. Deon, which means duty in Greek, is where it gets its name. These guidelines define what constitutes ethical behavior, and what does not. Without taking into account contextual factors, deontology regards actions as either right or wrong. The Ten Commandments, which include "Honor your father and mother," "Do not kill," and "Do not steal," are an example that is occasionally cited.
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Type the correct answer in the box. Spell all words correctly. What do inventory firms use when moving delicate products? Inventory firms use________ belts when moving delicate products.
its not multiple choice- need help!
Answers
Answer:
conveyor belts
Explanation:
A conveyor belt is a moving band, e.g. a conveyor belt is used in airports when you are retrieving your luggage after you arrive to your destination. They can be used to transport bulk materials or delicate products. Their length also varies, since they can be very short, e.g. just a few feet, to very long, e.g. transport goods for many yards.
Both excess supply and excess demand are a result of
Answers
Answer:
Disequilibrium.
Explanation:
Both excess supply and excess demand are a result of disequilibrium.
Answer:a
Explanation:
The triple bottom line "people/social" and it's relationship with social responsibility
Answers
Answer:
TBL was proposed by Elkington. But there is difficulty in measuring social and environmental bottom line.
Explanation:
Triple bottom Line (TBL) in economics is the line that focus on the relationship on social and environmental concern. In TBL there are three bottom line that is people, profit, and planet. This term Triple Bottom Line was coined by John Elkington in 1994.
His main aim was to measure the performance of people in America. According to this idea it is possible to maintain both economy and environment. It can improve the lives of people as well can save the environment. It can be called a full time cost business. It is like Planet + People = Environmental responsibility + Social.
According to TBL if a company does not pay attention on how to interact socially but only focuses on business, it will not account full business.
The triple bottom line is a concept that states that rather than firms to focus on making profit as sole of operation, they should also commit their impact to the social and environment sphere.
The triple bottom line is divided into 3 according to importance to be given:
People / Social impactPlanet / Environmental impactProfit / Financial impact.In conclusion, the business concept posit that firms should ensures that its impact are felt in any social and environmental circle around the world.
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Which of the following oil and gas partnerships offers the most diversification?Exploratory programDevelopmental programCombination programIncome program
Answers
The oil and gas partnership that offers the most diversification is the Combination program.
A combination program in oil and gas partnerships typically involves a mix of both exploratory and developmental activities. This type of program aims to balance the higher-risk exploratory investments with the more stable and predictable developmental investments. By combining these two types of programs, investors can diversify their exposure to different types of projects and mitigate some of the risks associated with exploration alone. Exploratory programs focus on exploring new areas for potential oil and gas reserves. While they can offer significant returns, they also carry a higher level of risk due to the uncertainty of finding commercially viable reserves. Developmental programs, on the other hand, involve the development and production of known oil and gas reserves. These programs tend to have more predictable returns and lower risk compared to exploratory activities.
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Should the organization use the cash accounting method or the accrual accounting method? Why?
Answers
Answer:accounting method
Explanation:it is much more accurate
How are scarcity and the laws of supply and demand connected?
Answers
Answer:
Scarcity and supply and demand are connected because they determine how much the product costs. First of all, scarcity describes supply. If a product is scarce and demand is high, the supplier would raise the costs for the product, but if there is plenty of supply, and low demand, the supplier would decrease the costs.
When acting as a dual agent, a licensee shall not:
Select one:
a. Disclose all latent material defects in the property that are
known to the licensee.
b. Help the buyer compare financing alternatives.
C. Disclose the price the buyer or tenant is willing to pay
without the permission of the buyer or tenant.
d. Provide information about comparable properties that
have sold so both clients may make educated decisions on
what price to accept or offer.
Answers
Answer:
C. Disclose the price the buyer or tenant is willing to pay
without the permission of the buyer or tenant.
Explanation:
A Dual agent refers to one agent or an agency firm that represents both the buyers and seller in the same transaction. An Agent may be licensed to act as a dual agent only with the written consent of both the buyers and seller. The dual agent must do be neutral to both parties and must not disclose any confidential information to either party.
household play a role in the circular flow of goods by
Answers
Answer:
C) purchasing goods at product markets
Answer:
C. purchasing goods at product markets
Explanation:
It said on the test
The main drivers of economic growth (i.e. economic output per person) include all of the following, except:
a. Natural resources
b. Human capital
c. Physical capital
d. Technical progress
Answers
The main drivers of economic growth (i.e. economic output per person) include human capital, physical capital, technical progress, and natural resources. So, correct option is E.
Human capital refers to the knowledge, skills, and abilities that workers possess and can use to produce goods and services. This includes education, training, and experience. The greater the level of human capital in a society, the more productive its workforce is likely to be.
Physical capital refers to the machinery, equipment, infrastructure, and other physical assets that are used to produce goods and services. Investment in physical capital can lead to increased productivity and economic growth.
Technical progress refers to improvements in technology, innovation, and efficiency that can lead to increased productivity and output.
Natural resources can also contribute to economic growth by providing the raw materials needed for production. However, natural resources alone are not enough to drive sustained economic growth.
In conclusion, all the factors mentioned - human capital, physical capital, technical progress, and natural resources - can contribute to economic growth.
So, correct option is E.
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Complete question is:
The main drivers of economic growth (i.e. economic output per person) include all of the following, except:
a. Natural resources
b. Human capital
c. Physical capital
d. Technical progress
e. None of the above.
Which factors can affect a stock's price? Check all that apply.
market performance
the company's financial health
the quantity products produced
location of the company
the economy
Answers
Answer:
market performance
the company's financial health
the economy
Explanation:
Stocks or shares represent small units of ownership in a business. The stocks of a public limited company are traded in the stock exchange markets. Investors trading shares are guided by the potential to make profits in deciding what shares to buy.
Share that shows signs of good returns attract many buyers. Investors will focus on a company's financial health as presented in financial statements, the overall state of the economy, and the general market performance to evaluate profits potential. If the conditions are favorable, a stock price will always be rising and present opportunities for profits.
Answer:
1, 2, 5
Explanation: