Define the experiment and define one possible outcome

Assignment Help Accounting Basics
Reference no: EM131688861

Question 1 - A computer software company has developed a new accounting program. The beta version of the program is being tested by 90 CPAs.

a. Define the experiment.

b. Define one possible outcome.

c. Define one possible event.

d. Suppose 81 out of 90 CPAs preferred this new program over the competing current accounting program they use. Is 81 the probability that the new program, if brought into the market, will be successful? If not, estimate the probability of success.

e. Suppose the probability that the new program fails, if brought into the market, is - 0.81. Can this be right? If not, compute the probability of failure.

Question 2 - The following table depicts salaries of presidents of 25 Fortune 500 companies and shareholders' profit or loss:

 

Salary more than $1 million

Salary less than $1 million

Total

Shareholders made Money

4

11

15

Shareholders lost Money

6

4

10

Total

10

15

25

If we select a company randomly, what is the probability that:

a. A president made more than $1 million?

b. A president made more than $1 million or shareholders lost money?

c. A president made more than $1 million given shareholders lost money?

d. We select two Presidents and find they both made more than $1 million?

Question 3 - Drivers applying to a fictional insurance company fall within three classifications of risks, good, medium, or poor, with the proportions of 40%, 40% and 20%, respectively. The probability that a good, medium, and poor risk driver will end up with exactly one accident is 0.02, 0.03, and 0.10, respectively. The company sells an insurance policy to Bob, who has a record of one accident. What is the probability that Bob is:

a. A "good risk" driver?

b. A "medium risk" driver?

c. A "poor risk" driver?

Question 4 - Summation Expressions - Calculate the following summation expressions:

1) i=111i

2) i=1101i

3) i=11,001i

4) i=110,001i

5) i=1100,001i

6) i=11,000,001i

7) Etc.

Can you find a pattern in the above sums of the numbers? If so, explain the pattern. Can you present the pattern in a mathematical formula? Can you generalize the pattern to the sums of numbers if the upper summation indices were 10,100, 1,000, 10,000, 100,000, 1,000,000, etc.?

Reference no: EM131688861

Questions Cloud

What are pros of managers using decision making models : What factors should be taken into consideration when collecting data for a strategic decision? What are pros and cons of managers using decision making models?
What problems might be anticipated with the product : What problems might be anticipated with the product. How could these problems be minimized
Hackers and cyber criminal organizations : From the first and second e-Activities, explain the hacker ethic and hacker manifesto. Give your opinion as to why hackers do not consider.
Define the experiment and define one possible outcome : A computer software company has developed a new accounting program. Define the experiment. Define one possible outcome
Briefly describe a start-up company : Briefly describe a start-up company (it can be one that you want to start or a realistic fictional one) and the start-up money you would need
How the market share of plasma tvs differs from lcd tvs : Based on the results of (a), explain how the market share of plasma TVs differs from the market share of LCD TVs.
Executive brief on writing secure software or j2ee : A PowerPoint presentation on Writing Secure Software, or J2EE for your supervisor. Your supervisor wants you to present information to the top-level executives
Prepare consolidation journal entries : Prepare consolidation journal entries for the period ended at 30 June 2017. Prepare the consolidation worksheet for the period ended 30 June 2017.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd