Handwritten credit card applications

Assignment Help Accounting Basics
Reference no: EM131008739

Character recognition

An automatic character recognition device can successfully read about 85% of handwritten credit card applications. To estimate what might happen when this device reads a stack of applications, the company did a simulation using samples of size 20, 50, 75, and 100. For each sample size, they simulated 1000 samples with success rate p = 0.85 and constructed the histogram of the 1000 sample proportions, shown here. Explain how these histograms demonstrate what the Central Limit Theorem says about the sampling distribution model for sample pro- portions. Be sure to talk about shape, center, and spread.

Reference no: EM131008739

Questions Cloud

Was the process out of control at that time : A process is monitored for flaws by taking a sample of size 50 each hour and counting the total number of flaws in the sample items. The total number of flaws over the last 30 samples is 658. Compute the center line and upper and lower 3σ contro..
Assess manufacturing consistency : More quality. Would a bigger sample help us to assess manufacturing consistency? Suppose instead of the 50-candy bags of Exercise 20, we work with bags that contain 200 M&M's each. Again we calculate the proportion of green candies found.
Problem regarding the bigger portfolio : The students use computer-generated random numbers to choose 25 stocks each. Use the 68-95-99.7 Rule to de- scribe the sampling distribution model.
Record the proportion of green candies : The candy company that makes M&M's candies claims that 10% of the candies it produces are green and that bags are packed randomly. We can check on their production controls by sampling bags of candies. Suppose we open bags containing about 50 M&M'..
Handwritten credit card applications : An automatic character recognition device can successfully read about 85% of handwritten credit card applications. To estimate what might happen when this device reads a stack of applications
Sample of a mixture of recent purchases : They have kept both the names active and customers can purchase products from either website. If they take a random sample of a mixture of recent purchases from the two websites, the distribution of the amounts purchased will be bimodal.
Distribution model for sample proportions : Explain how these histograms demonstrate what the Central Limit Theorem says about the sampling distribution model for sample proportions. Be sure to talk about shape, center, and spread.
Deviation of sampling distribution of the proportion : A marketing researcher for a phone company surveys 100 people and finds that that proportion of clients who are likely to switch providers when their contract expires is 0.15. a) What is the standard deviation of the sampling distribution of the..
Cholesterol level of the sample : As in Exercise 9, cholesterol levels in healthy U.S. adults average about 215 mg/dL with a standard deviation of about 30 mg/dL and are roughly Normally distributed. If the cholesterol levels of a sample of 42 healthy US adults is taken, what is t..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Estimated liability under warranties

During 2010, Markel had actual outlay of $48,000 for repairs under warranty. Markel employs the expense warranty accrual method-What amount should the company report for estimated liability under warranties at the end of 2010?

  Working capital management policies

Can you get an idea of their working capital management policies from publicly available information? How do the two companies differ in their apparent working capital management policies? Which policy do you think is better and why?

  Explaining complex methodology

Describe a business situation where you have had to explain a complex problem or solution to a client or colleague. Describe the situation, your approach, and the outcome:

  While reviewing the march 31 2012 balance sheet of business

while reviewing the march 31 2012 balance sheet of business solutions santana rey notes that the business has built a

  How each transaction affects the accounting equation

Bass Lake Eatery borrowed $10,000 from the bank on April 1. The note is a 1-year, 12% note, with both principal and interest to be repaid on March 31, 2011.

  Ideal strategy regarding depriciation

Linden Co. has 1,000,000 euros as payables due in 90 days, and is certain that euro is going to depreciate substantially over time. Assuming the firm is correct, the ideal strategy is to:

  Usaco a domestic corporation is the wholly-owned us

usaco a domestic corporation is the wholly-owned u.s. subsidiary of forco a foreign corporation. the u.s.-country f tax

  Discuss the accounting treatment of the depletion

Discuss the accounting treatment of the depletion and depreciation on the mine and mining equipment.

  Martina inc has two service departments human resources and

martina inc. has two service departments human resources and building maintenance and two production departments

  In the month of march picard spa services 500 clients at an

in the month of march picard spa services 500 clients at an average price of 120. during the month fixed costs were

  A storage tank acquired at the beginning of the fiscal year

a storage tank acquired at the beginning of the fiscal year at a cost of 86000 has an estimated residual value of 10000

  Amount that should have appeared in warranty obligation

The Athletic Accountant Company produces exercise equipment for accountants. Its main product, the Pencil-Pusher Push-Up Platform, is sold with a three-year warranty against defects. amount that should have appeared in warranty obligation

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