The Schmedley Discount Department Store has approximately 300 customers shopping in its store between 9 A.M. and 5 P.M. on Saturdays. In deciding how many cash registers to keep open each Saturday, Schmedley’s manager considers two factors: customer waiting time (and the associated waiting cost) and the service costs of employing additional checkout clerks. Checkout clerks are paid an average of $27 per hour. When only one is on duty, the waiting time per customer is about 10 minutes (or hour); when two clerks are on duty, the average checkout time is 6 minutes per person; 4 minutes when three clerks are working; and 3 minutes when four clerks are on duty.

Schmedley’s management has conducted customer satisfaction surveys and has been able to estimate that the store suffers approximately $10 in lost sales and goodwill for every hour of customer time spent waiting in checkout lines. Using the information provided, determine the optimal number of clerks to have on duty each Saturday to minimize the store’s total expected cost.

Question 3: Magic the Gathering is a trading card game that has competitive tournaments. One host of these tournaments is interested if there is a correlation between years playing Magic the Gathering and tournament wins. This host collects data from 5 individuals. Their data is displayed below:

Years playing magic (X): 1 2 3 2 5

Tournament wins (Y): 2 3 4 4 6

Using the information provided please calculate the correlation (r) of years playing magic and tournament wins. Report the means and standard deviation for both X and Y (you do not have to show your work for this step), as well as r (show your work for this step).

QUESTION 4

Using the information provided for Sadie’s Car Wash, use page 1 of the journal to journalize the transactions for May 1 through May 15. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T.

1

Received cash from owner as an investment, $8,000.00. R1.

2

Paid cash for supplies, $150.00. C1.

3

Paid cash for rent, $450.00. C2.

4

Bought supplies on account from Archer Supplies, $850.00. M1.

5

Paid cash for electric bill, $123.00. C3.

8

Paid cash on account to Archer Supplies, $500.00. C4.

8

Received cash from sales, $490.00. T8.

8

Sold services on account to Zachary’s Limos, $225.00. S1.

9

Paid cash for insurance, $600.00. C5.

10

Paid cash for repairs, $194.00. C6.

10

Received cash from sales, $238.00. T10.

11

Paid cash for miscellaneous expense, $20.00. C7.

11

Received cash from sales, $315.00. T11.

12

Received cash from sales, $450.00. T12.

15

Paid cash to owner as a withdrawal of equity for personal use, $2,000.00. C8.

15

Received cash from sales, $425.00. T15.

16

Paid cash for supplies, $550.00. C9.

17

Received cash on account from Zachary’s Limos, $115.00. R2.

17

Bought supplies on account from OK Supplies, $300.00. M2.

17

Received cash from sales, $250.00. T17.

19

Received cash from sales, $325.00. T19.

22

Bought supplies on account from OK Supplies, $30.00. M3.

22

Received cash from sales, $305.00. T22.

23

Sold services on account to Zachary’s Limos, $291.00. S2.

24

Paid cash for advertising, $75.00. C10.

24

Received cash from sales, $150.00. T24.

25

Received cash from sales, $385.00. T25.

26

Paid cash for supplies, $45.00. C11.

26

Received cash from sales, $150.00. T26.

29

Received cash on account from Zachary’s Limos, $175.00. R3.

31

Paid cash to owner as withdrawal of equity, $2,250.00. C12.

31

Received cash from sales, $250.00. T31.