Construct the indicated prediction interval and interpret the results.

When the voting age population is 210 million, construct a 99% prediction interval for the voter turnout in federal elections. Use the results of Exercise 16.

During January, Luxury Cruise Lines pays employee salaries of $2 million. Withholdings in January are$153,000 for the employee portion of FICA, $300,000 for federal income tax,$125,000 for state income tax, and $20,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional$124,000 for federal and state unemployment tax and $60,000 for the employer portion of health insurance.

Required:

1. Record the employee salary expense, withholdings, and salaries payable.
2. Record the employer-provided fringe benefits.
3. Record the employer payroll taxes.

Use the standard error to construct an approximate prediction interval for $Y$. Based on the width of this prediction interval, would you say the predictions are good enough to have practical value?

The monthly averages of the federal funds rate and the bank prime loan rate are listed in the file P02_25.xlsx.

Describe the time series behavior of these two variables. Can you discern any cyclical or other patterns in the times series graphs of these key interest rates?

Construct the indicated prediction interval and interpret the results.

The total assets in IRAs is $3800$ billion. Construct a prediction interval for the total assets in federal pension plans. Use the results of Exercise 18 and $c=0.90$.

A regulation football used in the National Football League (NFL) is 11 in. from tip to tip and 7 in. in diameter at its thickest (the regulations allow for slight variation in these dimensions). The shape of a football can be modeled by the function

$$f(x)=-0.116 x^2+3.5, \text { for }-5.5 \leq x \leq 5.5,$$

where x is in inches. Find the volume of an NFL football by rotating the area bounded by the graph of f around the x-axis.

Construct the indicated prediction interval and interpret the results.

The total assets in equity funds is $900 billion. Construct a prediction interval for the total assets in bond and income funds. Use the results of Exercise 16 and c = 0.90.

In a survey of 1383 U.S. adults, 1079 favor increasing federal funding for research on wind, solar, and hydrogen technology.

(a) Find a point estimate for the population proportion p of those in favor of increasing federal funding for research on wind, solar, and hydrogen technology. (b) Construct a 90% confidence interval for the population proportion. (c) Find the minimum sample size needed to estimate the population proportion at the 99% confidence level in order to ensure that the estimate is accurate within 4% of the population proportion.

Airline Temporary Services (ATS) pays employees monthly. Payroll information is listed below for January, the first month of ATS’s fiscal year. Assume that none of the employees exceeds the federal unemployment tax maximum salary of $7,000 in January

$$\begin{array}{lr} \text { Salaries expense } & \$ 500,000 \\ \text { Federal and state income tax withheld } & 100,000 \\ \text { Federal unemployment tax rate } & 0.80 \% \\ \text { State unemployment tax rate (after FUTA deduction) } & 5.40 \% \\ \text { Social Security (FICA) tax rate } & 7.65 \% \end{array}$$

Required: Record salaries expense and payroll tax expense for the January pay period.

Use the data to find (a) the coefficient of determination and interpret the result, and (b) the standard error of estimate $s_e$ and interpret the result.

The table shows the total assets (in billions of U.S. dollars) of individual retirement accounts (IRAs) and federal pension plans for nine years. The equation of the regression line is $\hat{y}=0.174 x+432.225$.

Construct the indicated prediction interval and interpret the results.

Construct a 95% prediction interval for the proceeds from initial public offerings in the ten questions back when the number of offerings is 200.

In Ambrose Bierce's "An Occurrence at Owl Creek Bridge", the reader discovers that the man who Farquhar has been speaking to is not a Confederate soldier, but a Federal scout. What impact does this have on the story?

Use the data to find (a) the coefficient of determination and interpret the result, and (b) the standard error of estimate $s_e$ and interpret the result.

The table shows the average weekly wages for state government employees and federal government employees for six years. The equation of the regression line is $\hat{y}=1.900 x-411.976$.

Neumann Consulting Group reports a $1,200,000 bi-weekly payroll. Neumann and its employees must pay Social Security taxes at a rate of 6.2%. Both arc also responsible for Medicare taxes at a rate of 1.45%. Payroll income taxes average 20% for federal and 4% for state and local taxes. The company is also responsible for federal and state unemployment taxes. The federal unemployment tax rate is 1.6%. The state unemployment tax rate is 4.4% on a wage base of$7,000, but Neumann gets a 3.2% credit. Neumann has not paid any employee more than $7,000. None of the employees have exceeded the income base for FICA tax.

c. Prepare the journal entry necessary to record Neumann's payroll tax expense for the bi-weekly payroll.