STATS 7 Lecture 16: Lecture 16
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(1 point) Among drivers who have had a car crash in the last year, 110 were randomly selected and categorized by age, with the results listed in the table below.
If all ages have the same crash rate, we would expect (because of the age distribution of licensed drivers) the given categories to have 16%, 44%, 27%, 13% of the subjects respectively. At the 0.05 significance level, test the claim that the distribution of crashes conforms to the distribution of ages.
Ā Age | Ā Under 25 | 25-44 | 45-64 | Over 64 |
Drivers | 42 | 25 | 15 | 28 |
The test statistic is
The critical value is
The conclusion is
āÆ A. There is sufficient evidence to warrant the rejection of the claim that the distribution of crashes conforms to the distribution of ages.
āÆ B. There is not sufficient evidence to warrant the rejection of the claim that the distribution of crashes conforms to the distribution of ages.
Ā
Problem 2-2A (Part Level Submission)
Julia Dumars is a licensed CPA. During the first month of operations of her business, Julia Dumars, Inc., the following events and transactions occurred.
May 1 | Ā | Stockholders invested $20,700 cash in exchange for common stock. |
2 | Ā | Hired a secretary-receptionist at a salary of $2,700 per month. |
3 | Ā | Purchased $2,400 of supplies on account from Vincent Supply Company. |
7 | Ā | Paid office rent of $830 cash for the month. |
11 | Ā | Completed a tax assignment and billed client $3,800 for services performed. |
12 | Ā | Received $2,500 advance on a management consulting engagement. |
17 | Ā | Received cash of $1,800 for services performed for Orville Co. |
31 | Ā | Paid secretary-receptionist $2,700 salary for the month. |
31 | Ā | Paid 40% of balance due Vincent Supply Company. |
Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.
Ā |
A.Journalize the transactions.Ā (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
B.
Post to the ledger accounts.Ā (Post entries in the order of journal entries presented in the previous part.)
C.
Prepare a trial balance on May 31, 2017.