answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Afina-wow [57]
2 years ago
14

The village of Hempstead has been taking a look at the issue of responding to 911 calls. It is a small community and geographica

lly dispersed, so the response calls have been relatively slow. The following is the response rates for the last five calls: 17 minutes, 12 minutes, 9 minutes, 16 minutes, and 14 minutes.
What was the mean response time for 911 calls in this village?

a. 13.6 minutes
b. 12.6 minutes
c. 14.2 minutes
d. 10.2 minutes
Business
1 answer:
yuradex [85]2 years ago
8 0

Answer:

\bar X = \frac{17+12+9+16+14}{5}= 13.6min

So then the best answer for this case would be:

a. 13.6 minutes

Explanation:

For this case we have the following data for the response rates:

17,12,9,16,14

And we want to calculate the mean response time for 911 calls in this village.

And for this case we use we can use the definition of sample mean given by:

\bar X = \frac{\sum_{i=1}^n X_i}{n}

Where n = 5 represent the sample size for this case. If we replace we got:

\bar X = \frac{17+12+9+16+14}{5}= 13.6min

So then the best answer for this case would be:

a. 13.6 minutes

The sample mean is an estimator unbiased of the population mean because:

E(\bar X) = E(\frac{\sum_{i=1}^n X_i}{n}) = \frac{1}{n} \sum_{i=1}^n E(X_i) = \frac{n\mu}{n}= \mu

For this reason is a good statistic if we want to see central tendency in a group of values.

You might be interested in
QUESTION 11 Given the following information, calculate the equity dividend rate for this investment: first-year NOI: $18,750; be
Alja [10]

Answer: D. 2.2%

Explanation: Equity Dividend Rate is calculated by dividing the Before Tax Cash Flow by the Acquisition price. If you need the answer in percentage form, you then multiply by 100.

Here, before-tax cash flow =  $11,440

Acquisition price = $520,000

So Equity Dividend Rate = \frac{11440}{520000} X 100

     Equity Dividend Rate = 2.2%

In this question, you do not need the Net Operating Income (NOI). You only need the NOI if the Before Tax Cash Flow is not given and the debt service payment is. If this is the case, you subtract the debt service payment from the NOI to get the Before Tax Cash Flow.

4 0
2 years ago
Lester Company transferred the following assets to a newly created subsidiary, Mumby Corporation, in exchange for 40,000 shares
sammy [17]

Answer:

Lester Company

The accumulated depreciation amounts for buildings $35,000 and for equipment $60,000 were obtained as the differences between the costs and the book values of the assets.  The cost of a long-term asset is usually reduced to its book value by the total amount in the accumulated depreciation account.  The accumulated depreciation account shows the progressive amounts set aside annually as a write-off of the asset, showing its use over the period in accordance with the accrual concept and matching principle.  The accrual concept and matching principle require cost to be matched to the revenue it helps to generate.

Explanation:

Transferred Assets:

                                      Cost        Book Value   Difference  Explanation

Cash                            $40,000     $40,000        $0

Accounts Receivable   75,000        68,000        $7,000 (doubtful accounts)

Inventory                      50,000        50,000        $0

Land                             35,000        35,000         $0

Buildings                    160,000       125,000         $35,000 (depreciation)

Equipment                240,000       180,000        $60,000 (depreciation)

5 0
1 year ago
At the beginning of the year, the Dallas Company had the following accounts on its books: Accounts Receivable $264,000 Debit All
lukranit [14]

Answer:

<u>Explanation:</u>

Requirement :

Date Account title and Explanation      Debit                      Credit

Dec.31   Accounts receivable                $2,346,000  

           Sales revenue                                                $2,346,000

[To record credit sales for the year]      

Dec.31 Cash                                    $2,350,000  

          Accounts receivable                                    $2,350,000

[To record collections on account for the year]      

Feb.17 Allowance for doubtful account    $7,500  

           Accounts receivable-R.St. John               $7,500

[To write off R. St. John's account]      

May 28 Allowance for doubtful account   $4,800  

          Accounts receivable-G. Herberger               $4,800

[To write off G. Herberger's account]      

Oct 13 Accounts receivable-G. Herberger $1,200  

            Allowance for doubtful account                 $1,200

[To reinstate G. Herberger's account for partil recovery]      

Oct 13 Cash                                                  $1,200  

              Accounts receivable-G. Herberger           $1,200

[To record collection from G. Herberger]      

Dec 15 Allowance for doubtful account $5,000  

                Accounts receivable-R. Clancy                 $5,000

[To write-off R. Clancy's account]      

Dec 31 Bad debt expense [$2,346,000 x 0.8%] $18,768  

                Allowance for doubtful account                  $18,768

[To record allowance for doubtful accounts]  

<u>Requirement b: </u>

Accounts Receivable $242,700

Less: Allowance for Doubtful accounts $19,168

Accounts receivable net $223,532

<u>Calculations: </u>

T-Accounts

Accounts receivable              Allowance for doubtful account

$264,000 Beg.                                    $16,500 Beg.

$2,346,000          $2,350,000  $7,500             $1,200

$1,200                       $7,500      $4,800                 $18,768

                               $4,800  $5,000  

                                $1,200    

                                 $5,000    

                                   $242,700 End.                 $19,168 End.

4 0
2 years ago
Brief Exercise 8-5 Blossom Company uses the percentage-of-receivables basis to record bad debt expense and concludes that 4% of
Delicious77 [7]

Answer:

The adjusting journal entry to record bad debt expense for the year:

Debit Bad debts expense $13,831

Credit Allowance for doubtful accounts  $13,831

Explanation:

Blossom Company uses the percentage-of-receivables basis to record bad debt expense.

At the end of the year, Accounts receivable are $419,300 and 4% of accounts receivable will become uncollectible.

Estimated uncollectible = $419,300 x 4% = $16,772

Before adjusting, the allowance for doubtful accounts has a credit balance of $2,941.

Bad debts expense = $16,772 - $2,941 = $13,831

The adjusting journal entry:

Debit Bad debts expense $13,831

Credit Allowance for doubtful accounts  $13,831

3 0
2 years ago
Last month, Korey's Comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. Calculate Korey's g
nevsk [136]

Answer: 76.3%

Explanation: Gross profit margin is calculated by dividing the gross profit (difference between revenue and cost of goods sold) by revenue (Net sales). It could be expressed as a percentage by multiplying by 100.

Gross profit margin = (gross profit ÷ net sales) * 100

Gross profit = $3,320

Net sales = $4,350

Gross profit margin = ($3,320÷$4,350) * 100

0.763 * 100 = 76.3%

7 0
2 years ago
Read 2 more answers
Other questions:
  • Suppose Argentina produces only cars and trucks. The resources that are used in the production of these two goods are not specia
    5·1 answer
  • " Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has ca
    12·1 answer
  • Suppose the demand curve for a product is represented by a typical downward-sloping curve. Now suppose that the demand for this
    5·1 answer
  • Sky High Seats manufactures seats for airplanes. The company has the capacity to produce 100,000 seats per year, but currently p
    6·1 answer
  • City Foods, is a firm that is experiencing rapid growth. The firm just paid a dividend of $2.00 yesterday. They expect to see th
    11·1 answer
  • Read "Knowledge and Globalization" on page 375 in the textbook. Should governments take measures, legal or otherwise, that prote
    13·1 answer
  • I'm having a difficult time with my accounting workbook. I post the adjusting entries, but my balance sheet never equalizes. Can
    8·1 answer
  • what types of political, economic, and competitive challenges does MTV networks international face by operating worldwide?​
    7·1 answer
  • A last-mile delivery service is looking into increasing capacity by purchasing new delivery vans. Two vans are being considered.
    7·1 answer
  • On October 1, Bentley Delivery Services acquired a new truck with a list price (fair market value) of $75,000. Bentley Delivery
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!