Fin 200 Checkpoint Week Four Quiz

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This work of FIN 200 CheckPoint Week Four Quiz consists of: 1) A rapid rate of growth in sales may require A. increased borrowing by the firm to support the sales increase. B. sales forecasts to be made less frequently. C. the firm to be more lenient with credit customers. D. higher dividend payments to shareholders. 2) Net cash flow is equal to: A. income after taxes minus dividends. B. cash receipts minus cash payments minus depreciation. C. cash receipts minus cash payments. D. income after taxes minus depreciation. 3) A firm has beginning inventory of 300 units at a cost of $11 each. Production during the period was 650 units at $12 each. If sales were 700 units, what is the value of the ending inventory using LIFO? A. $3,250 B. $2,550 C. $3,300 D. $2,750 4) A firm utilizing FIFO inventory accounting would, in calculating gross profits, assume that A. all sales were from beginning inventory. B. all sales were for cash. C. sales were from beginning inventory until it was depleted, and then use sales from current production. D. all sales were from current production. 5) Combined leverage is concerned with the relationship between A. changes in volume and changes in EPS. B. changes in EBIT and changes in net income. C. changes in volume and changes in EBIT. D. changes in EBIT and changes in EPS. 6) Which of the following is concerned with the change in operating profit as a result of a change in volume? A. Break-even point B. Combined leverage C. Operating leverage D. Financial leverage 7) 1 If sales volume exceeds the break-even point, the firm will experience A. an operating profit. B. an increase in stock price. C. an increase in plant and equipment. D. an operating loss. 8) A weakness of breakeven analysis is that it assumes: A. prices and costs increase when the economy is strong and confidence is high. B. there is no weakness. C. cost of goods sold goes up as revenue increases. D. revenue and costs are a linear (constant) function of volume.

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Business - General Business 1. Question : Consider the following data on distances traveled by people to visit the local amusement park and calculate the relative frequency for the shortest distance. 375 .150 .500 .300 .333 2. Question : The following is a relative frequency distribution of grades in an introductory statistics course. If this was the distribution of 200 students, find the frequency of failures: 12 6 23 46 3 3. Question : A random sample of 12 joggers was asked to keep track and report the number of miles they ran last week. The responses are: 5.5 7.2 1.6 22.0 8.7 2.8 5.3 3.4 12.5 18.6 8.3 6.6 Compute the three statistics that measure central location. Mean: 6.9, Median: 8.54 Mean: 6.9, Median: 9.64 Mean: 8.54, Median: 6.9 Mean: 7.2, Median: 8.12 Mean: 7.8, Median: 8.34 4. Question : In order to get maintain a 80% minimum, Sara needs to earn at least a “B” in Statistics. A “B” is defines as a mean test grade of 80 or more. Below are Sara’s test grades for the course. 56 62 69 82 91 93 98 Sara has one more test to complete, for a total of eight test grades for the course. What score must Sara achieve on the remaining test to attain a “B” in the Statistics? 89 91 99 85 94 5. Question : In order to control costs, a company wishes to study the amount of money its sales force spends entertaining clients. The following is a random sample of six entertainment expenses (dinner costs for four people) from expense reports submitted by numbers of the sales force. $157 $132 $ 109 $145 $125 $139 Calculate Mean, Variance, and Standard Deviation. Assuming that the distribution on entertainment expenses is approximately normally distributed, calculate estimate of tolerances interval containing 95.44%. [117.87, 151.13] [101.23, 167.77] [ 84.6, 184.40] [117.87, 167.77] [84.6, 151.13] 6. Question : Compute and interpret the Z-score for the $157 entertainment expense. (Reminder: the six entertainment expenses were: $157 $132 $ 109 $145 $125 $139) 0.35 -2.35 2.35 1.35 -1.35 7. Question : Calculate the first, second, third Quartiles and IQR of the following data: 10.5 14.7 15.3 17.7 15.9 12.2 10 14.1 13.9 18.5 13.9 15.1 14.7 Q1: 13.9, Q2: 14.7, Q3: 15.3, IQR: 1.40 Q1: 12.1, Q2: 14.3, Q3: 16.1, IQR: 4.00 Q1: 13.1, Q2: 14.0, Q3: 16.3, IQR: 3.20 Q1: 12.6, Q2: 14.8, Q3: 15.7, IQR: 3.10 Q1: 11.9, Q2: 13.7, Q3: 16.3, IQR: 2.45 8. Question : The following table shows the Price-to-Earnings ratio for a Stereo equipment manufacturing company between 1998 and 2002. Determine the percentage change in the P/E ratios from 1999 to 2000. 33.97% 31.53% 27.26% -31.53% -23.97% 9. Question : According to a survey of the top 10 employers in a major city in the Midwest, a worker spends an average of 413 minutes a day on the job. Suppose the standard deviation is 26.8 minutes and the time spent is approximately a normal distribution. What are the times that approximately 68.26% of all workers will fall? [332.6, 493.4] [386.2, 493.4] [312.6, 539.8] [346.2, 419.8] [386.2, 439.8] 10. Question : According to a survey of the top 10 employers in a major city in the Midwest, a worker spends an average of 413 minutes a day on the job. Suppose the standard deviation is 26.8 minutes and the time spent is approximately a normal distribution. What are the times that approximately 99.73% of all workers will fall? [332.6, 493.4] [386.2, 493.4] [312.6, 539.8] [346.2, 419.8] [386.2, 439.8]

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Try to associate with others who have similar philosophies about college. If you are surrounded by people who want to do well, you are sure to follow suit. That is not to say that a good time cannot still be had. You could find people that treat college in this manner.