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Chapter 10, Section 2,3,4 Problem 16, Problem 26

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For Problems 16 and 26, construct a scatter plot, find the value of the linear correlation coefficient r, and find the critical values of r from Table A-6 using x = 0.05. Determine whether there is sufficient evidence to support a claim of a linear correlation between the two variables. (Save your work because the same data sets will be used in Section 10-3 exercises.)

Chapter 10, Section 2
Problem 16

Heights of Presidents and Runners-Up. Theories have been developed about the heights of winning candidates for the U.S. presidency and the heights of candidates who were runner-up. Listed below are heights (in inches) from recent presidential elections. Is there a linear correlation between the heights of candidates who won and the heights of the candidates who were runners-up?

Winner 69.5 73 73 74 74.5 74.5 71 71
Runner-Up 72 69.5 70 68 74 74 73 76

Problem 26

Crickets and Temperature. One classic application of correlation involves the association between the temperature and the number of times a cricket chirps in a minute. Listed below are the numbers of chirps in 1 min and the corresponding temperatures in Fahrenheit (based on data from The Song of Insects by George W. Pierce, Harvard University Press). Is there a linear correlation between the number of chirps in 1 min and the temperature?

Chirps in 1 min 882 1188 1104 864 1200 1032 960 900
Temperature (F) 69.7 93.3 84.3 76.3 88.6 82.6 71.6 79.6

For Problems 16 and 26, Finding the Equation of the Regression Line and Making Predictions. (Use the same data set from above. In each case find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5.

Chapter 10, Section 3
Problem 16

Heights of Presidents and Runners-Up. Find the best predicted height of runner-up Goldwater, given that the height of the winning presidential candidate Johnson is 75 in. Is the predicted height of Goldwater close to his actual height of 72 in.?
Winner 69.5 73 73 74 74.5 74.5 71 71
Runner-Up 72 69.5 70 68 74 74 73 76

Problem 26

Crickets and Temperature. Find the best predicted temperature (in Fahrenheit) at a time when a cricket chirps 3000 times in one minute. What is wrong with this predicted value?
Chirps in 1 min 882 1188 1104 864 1200 1032 960 900
Temperature (F) 69.7 93.3 84.3 76.3 88.6 82.6 71.6 79.6

Finding Measures of Variation. Find the (a) explained variation, (b) unexplained variation, (c) total variation, (d) coefficient of determination, and (e) standard error of estimate s. In each case, there is sufficient evidence to support a claim of a linear correlation so that it is reasonable to use the regression equation when making predictions. (Results from these exercises are used in Exercises 17 - 20).

Chapter 10, Section 4
Problem 16

Global Warming. Listed below are concentration (in parts per million) of CO2 and temperatures (in Celsius) for different years (based on data from the Earth Policy Institute).
CO2 314 317 320 326 331 339 346 354 361 369
Temperature13.9 14.0 13.9 14.1 14.0 14.3 14.1 14.5 14.5 14.4

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Accounting Problem/Income Sheet Trial Balance

(See attached files for full problem description)

Raymond Company has the following opening account balances in its general and subsidiary ledgers on January 1 and uses the periodic inventory system. All accounts have normal debit and credit balances.

Jan. 3 Sell merchandise on credit to B. Soto $3,100, invoice no. 510, and J. Ebel $1,800, invoice no. 511.
5 Purchase merchandise from S. Welz $3,000 and D. Laux $2,700.
7 Receive checks for $4,000 from S. Kysely and $2,000 from B. Jacovetti.
8 Pay freight on merchandise purchased $180.
9 Send checks to S. Liazuk for $9,000 and D. Nguyen for $11,000.
9 Issue credit memo for $300 to J. Ebel for merchandise returned.
10 Summary cash sales total $15,500.
11 Sell merchandise on credit to R. Draves for $1,900, invoice no. 512, and to S. Kysely $900, invoice no. 513.
Post all entries to the subsidiary ledgers.
12 Pay rent of $1,000 for January.
13 Receive payment in full from B. Soto and J. Ebel.
15 Withdraw $800 cash by I. Raymond for personal use.
16 Purchase merchandise from D. Nguyen for $15,000, from S. Liazuk for $13,900, and from S. Welz for $1,500.
17 Pay $400 cash for office supplies.
18 Return $200 of merchandise to S. Liazuk and receive credit.
20 Summary cash sales total $17,500.
21 Issue $15,000 note to R. Mikush in payment of balance due.
21 Receive payment in full from S. Kysely.
Post all entries to the subsidiary ledgers.
22 Sell merchandise on credit to B. Soto for $1,700, invoice no. 514, and to R. Draves for $800, invoice no. 515.
23 Send checks to D. Nguyen and S. Liazuk in full payment.
25 Sell merchandise on credit to B. Jacovetti for $3,500, invoice no. 516, and to J. Ebel for $6,100, invoice no. 517.
27 Purchase merchandise from D. Nguyen for $14,500, from D. Laux for $1,200, and from S. Welz for $2,800.
28 Pay $200 cash for office supplies.
31 Summary cash sales total $19,920.
31 Pay sales salaries of $4,300 and office salaries of $2,600.

Instructions
a. Record the January transactions in the appropriate journal-sales, purchases, cash receipts, cash payments, and general.
b. Post the journals to the general and subsidiary ledgers. New accounts should be added and numbered in an orderly fashion as needed.
c. Prepare a trial balance at January 31, 2005, using a work sheet. Complete the work sheet using the following additional information.

1. Office supplies at January 31 total $700.
2. Insurance coverage expires on October 31, 2005.
3. Annual depreciation on the equipment is $1,500.
4. Interest of $30 has accrued on the note payable.
5. Merchandise inventory at January 31 is $16,000.

d. Prepare a multiple-step income statement and a statement of owner's equity for January and a classified balance sheet at the end of January.
e. Prepare and post the adjusting and closing entries.
f. Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the control accounts in the general ledger.

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