Using the following costs of ice cream bars, complete the steps below.       1.29   1.37   1.30   0.80   0.67   1.33   1.37   1.37   1.53   0.55      1.27   0.93   0.63   0.80   0.27   1.38   0.77   1.14   0.80   0.70      0.36   0.65   0.47   0.68   0.50 a) Find and label the statistics of the 5-number summary. Label Number                                 b) Construct the boxplot using the number line below.  You must draw the boxplot with a similar number line on your Final Exam Work pages to receive credit.            

WORK MUST BE SHOWN.  IF YOU USE THE CALCULATOR, INCLUDE THE CALCULATOR COMMAND AND EXACTLY WHAT IS ENTERED INTO THAT COMMAND. In a recent survey, 69% of the community favored building a police substation in their neighborhood. If 14 citizens are chosen, determine the probability that exactly 9 of them favor the building of the police substation. 

WORK MUST BE SHOWN.  IF YOU USE THE CALCULATOR, INCLUDE THE CALCULATOR COMMAND AND EXACTLY WHAT IS ENTERED INTO THAT COMMAND. According to police sources, a car with a certain protection system will be recovered 87% more often than cars without that system. If 500 stolen cars are randomly selected, complete the following questions based on the given information. a) What is the mean of the number of recovered cars?   b) What is the standard deviation for the number of recovered cars?

Output(tons of rice per year) Total cost(dollars per ton) 1 $400 2 $700 3 $1,200 4 $1,800 5 $2,500 6 $3,500 Based on the table above which shows Chip’s costs, if rice sells for $700 a ton, Chip’s profit-maximizing output is [value] ton(s) of rice per year. Enter a value.

In a perfectly competitive market, an increase in market demand causes the price to [value1] in the short run and new firms to [value2] the market in the long-run.

  Quantity(units) Price(dollars per unit) 2 35 3 30 4 28 5 25 6 22 7 15 Using the data in the above table for the demand for a monopolist’s output, the marginal revenue of increasing production from 3 to 4 units is $[value]. Enter a value. Do not include the “$”

Quantity (barrels of pickles) Total variable cost(dollars) 0 0 1 30 2 45 3 66 4 97 5 130 6 170 The above table gives some cost data for Peter’s Pickles. Peter’s fixed cost is $30. The average total cost (ATC) when 3 barrels of pickles are produced is $[value]. Enter a value. Do not use the “$” sign. Round to two decimal places. For example, 0.51 or 4.40.

Output(tons of rice per year) Total cost(dollars per ton) 0 $1,000 1 $1,200 2 $1,600 3 $2,200 4 $3,000 5 $4,000 Based on the table above which shows Chip’s costs, if rice sells for $600 a ton, Chip’s profit-maximizing output is [value] ton(s) of rice per year. Enter a value.

Mr. Sweet opened a candy store. He rented a building for $20,000 a year. During the first year of operation, Sweet paid $35,000 to his employees, $10,000 for utilities, and $25,000 for goods he bought from other firms. To buy equipment for the business, he withdrew $30,000 from his savings account, which earned an annual interest rate of 5 percent. His total revenue was $115,000. Sweet’s best alternative to running this candy store is to work for Wal-Mart as a sales associate for $25,000 a year. During the first year of operation, Sweet’s economic profit is Enter a value. Do not include the “$”sign. For values greater than 999, use a comma “,”. For example, 12,345.  For values less than zero, use a minus sign “-“.

March 3: The company purchased office equipment for $18,000 cash. Which journal entry should be recorded?