A quality analyst wants to construct a control chart for determining whether four machines, all producing the same product, are under control with regard to a particular quality attribute. Accordingly, she inspected 1,000 units of output from each machine in random samples, with the following results: Show your work.
Machine Total Defectives
1 23
2 15
3 29
4 13
What is the sample proportion of defectives for machine # 1?
A) .023
B) .02
C) .0115
D) .0058
E) .005
Answer:
A) 0.023
Explanation:
Sample size = 1,000
Number of defectives collected from Machine #1 = 23
So, the sample proportion of defectives for machine #1 = Number of defective output / Sample size = 23/1000 = 0.023
bonds is selling at $1,132, with 15 years to maturity; it makes an annual coupon payment at 8%. 5 years after the issue, the market interest rate declined and the corporation decided to call the bond at $1,080. The face value of the bond is $1,000. What is the Yield to Call on the bonds
Answer:
6.26%
Explanation:
The yield to call is the rate of return earned by bondholders over the 5-year period before the bonds were called.
It can be determined using excel rate function as well as financial calculator as shown thus:
=rate(nper,pmt,-pv,fv)
nper=the period between bond issuance and the call in years=5
pmt=annual coupon=face value*coupon rate=$1000*8%=80
pv=the initial purchase price=-1132
fv=the price at which the bonds were called after 5 years=1080
=rate(5,80,-1132,1080)=6.26%
Financial calculator:
N=5
PMT=80
PV=-1132
FV=1080
CPT I/Y=6.26%
Which of the following statements accurately describes the free enterprise
system in the United States?
Answer:
The statement which accurately describes the free enterprise system in the United States is:
A market system.
Explanation:
The free enterprise system or capitalist system is a free market system where the government does not restrict much of the business activities or property ownership of its citizens. The main features of a free enterprise system are citizens can own private property, supply and demand (or market forces) drive productive activities, consumers and producers are free to make their own economic decisions, and the citizens can freely accumulate wealth. These features expand on the four great principles of a free enterprise system, which are: private property rights, profit motive, equal individual rights, and unrestricted competition.
The possible choices are ; production cost report, total manufacturing cost per unit, equivalent units of production, units transfered out, unit production costs, cost reconciliation schedule, total units accounted for, and physical units.
Match the following statements to the appropriate terms.
A summary of both production quantity and cost data for a production department.
Shows that the total costs accounted for equal the total costs to be accounted for.
Work done during a period expressed in fully completed units.
Costs expressed in terms of equivalent units of production.
Actual units to be accounted for during a period, irrespective of any work performed.
Units transferred out during the period plus units in ending work in process.
Unit materials costs plus unit conversion costs.
Total units accounted for minus units in ending work in process.
Answer:
Statement Appropriate terms
A summary of both production Production cost report
quantity and cost data for a
production department.
Shows that the total costs accounted Cost reconciliation schedule
for equal the total costs to be
accounted for.
Work done during a period expressed Equivalent units of production
in fully completed units.
Costs expressed in terms of equivalent Unit production costs
units of production.
Actual units to be accounted for during Physical units
a period, irrespective of any work
performed.
Units transferred out during the period Total units accounted for
plus units in ending work in process.
Unit materials costs plus unit Total manufacturing cost
conversion costs. per unit
Total units accounted for minus units Units transferred out
in ending work in process.
Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted cash balance per books on May 31.
Cash balance per books, May 31 $3,457
Deposits in transit 131
Notes receivable and interest collected by bank 853
Bank charge for check printing 47
Outstanding checks 1,567
NSF check 180
a. $3,816.
b. $2,730.
c. $1,195.
d. $1,979.
Answer:
$4,083
Explanation:
Preparation of the Adjusted Cash Balance per Books on May 31
Adjusted Cash Balance per Books on May 31
Cash Balance per Books on May 31 $3,457
Add Notes Receivable and Interest Collected by Bank $853
Less Bank Charge for Check Printing ($47)
Less NSF Check ($180)
Adjusted Cash Balance per Books on May 31 $4,083
Therefore the Adjusted Cash Balance per Books on May 31 will be $4,083
Why are short sentences and short paragraphs appropriate for business communication?
Answer:
Objs. 4 For business communications it is essential to express ideas and facts eloquently. The shorter the sentences and paragraph are, the brief the letter, memo or notice. This will save the reader's and writer's time.