MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, MGM reported accounts receivable of $415,654,000 and allowance for doubtful accounts of$93,760,000. Johnson & Johnson manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Johnson & Johnson reported accounts receivable of $10,114,000,000 and allowance for doubtful accounts of$340,000,000. a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for MGM Resorts International. Round to one decimal place.

MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, MGM reported accounts receivable of $570,348,000 and allowance for doubtful accounts of$89,789,000. Johnson & Johnson manufactures and sells a wide range of health care products including Band-Aid $^\circledR$ bandages and Tylenol $^\circledR$. As of a recent year, Johnson & Johnson reported accounts receivable of $11,002,000,000 and allowance for doubtful accounts of$268,000,000.

a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for MGM Resorts International. Round to one decimal place.

b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for Johnson & Johnson. Round to one decimal place.

c. Discuss possible reasons for the difference in the two ratios computed.

MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, MGM reported accounts receivable of $562,947,000 and allowance for doubtful accounts of$89,602,000. Johnson & Johnson manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, J&J reported accounts receivable of $11,260,000,000 and allowance for doubtful accounts of$275,000,000.

Compute the percentage of the allowance for doubtful accounts to the accounts receivable for MGM. (Round to one decimal place.)

The MGM Mirage owns and operates casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of December 31, 2009, The MGM Mirage reported accounts and notes receivable of $465,580,000 and allowance for doubtful accounts of$97,106,000. Johnson & Johnson manufactures and sells a wide range of health care products including Band-Aids and Tylenol. As of December 31, 2009, Johnson & Johnson reported accounts receivable of $9,979,000,000 and allowance for doubtful accounts of$333,000,000.

c. Discuss possible reasons for the difference in the two ratios computed in (a) and (b).

MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, MGM reported accounts receivable of $\$ 592,937,000$ and allowance for doubtful accounts of $\$ 101,207,000$ Johnson & Johnson manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Johnson & Johnson reported accounts receivable of $\$ 11,775,000,000$ and allowance for doubtful accounts of $\$ 466,000,000$.

a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for MGM Resorts International. Round to one decimal place.

A mutual fund is a professionally managed investment that can be sold to the general public. The following table lists the 3-month rates of return, in percent, for samples of healthcare-related and technology-related mutual funds, as reported by Morningstar, an independent investment research company.\

$$\begin{array}{lcccr|ccccc} \hline {\text { Healthcare}} & {\text { }} &{\text { }} &{\text { }} &{\text { }} &{\text { Technology }} \\ \hline 9.7 & 9.5 & 7.6 & 6.8 & 6.7 & 6.5 & 6.4 & 6.4 & 6.2 & 4.9 \\ 6.7 & 6.6 & 4.6 & 3.9 & 3.9 & 4.6 & 4.6 & 4.2 & 3.6 & 3.2 \\ 3.7 & 3.3 & 3.0 & 0.8 & -9.9 & 2.9 & 2.8 & 2.7 & 2.5 & \\ \hline \end{array}$$

a) Use the technology of your choice to obtain normal probability plots and boxplots for the two samples.
b) Is it reasonable to use the pooled t~test to perform a hypothesis test here? Explain your answer.
c) Is it reasonable to use the Mann-Whitney test to perform a hypothesis test here? Explain your answer.

The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31, 2014:

Apr. 13. Wrote off account of Dean Sheppard, $8,450. May 15. Received$500 as partial payment on the $7,100 account of Dan Pyle. Wrote off the remaining balance as uncollectible. July 27. Received$8,450 from Dean Sheppard, whose account had been written off on April 13. Reinstated the account and recorded the cash receipt. Dec. 31. Wrote off the following accounts as uncollectible (record as one journal entry):

$$\begin{array}{lr} \text { Paul Chapman } & \$ 2,225 \\ \text { Duane DeRosa } & 3,550 \\ \text { Teresa Galloway } & 4,770 \\ \text { Ernie Klatt } & 1,275 \\ \text { Marty Richey } & 1,690 \end{array}$$

b. Journalize the transactions for 2014 under the allowance method. Shipway Company uses the percent of credit sales method of estimating uncollectible accounts expense. Based on past history and industry averages, 3/4% of credit sales are expected to be uncollectible. Shipway Company recorded $3,778,000 of credit sales during 2014.

MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, MGM reported accounts receivable of $415,654,000 and allowance for doubtful accounts of$93,760,000. Johnson & Johnson manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Johnson & Johnson reported accounts receivable of $10,114,000,000 and allowance for doubtful accounts of$340,000,000.

a. Compute the percentage of the allowance for doubtful accounts to the accounts receivable for MGM Resorts International. Round to one decimal place.

Journalize the following transactions in the accounts of Sedona Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:

May 1. Sold merchandise on account to Beijing Palace Co., $18,900. The cost of the merchandise sold was$11,200.

Aug. 30. Received $8,000 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible.

Dec. 8. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received$10,900 cash in full payment.

When the price of an essential commodity (such as healthcare) decreases rapidly, consumption increases slowly at first. If the price continues to drop, However, a "tipping" point may be reached, at which consumption takes a sudden substantial increase. Suppose that the accompanying graph shows the consumption of a certain antibiotic, $C(t)$, in millions of units. We assume that the price is decreasing rapidly. Here $t$ is the time in months after the price began decreasing. Use the graph to find the following.
a. $\lim _{t \rightarrow 12} C(t)$]
b. $\lim _{t \rightarrow 16} C(t)$
c. $C(16)$
d. the tipping point (in months)

Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account. a. Determine the due date of the note. b. Determine the maturity value of the note. c. Journalize the entry to record the receipt of the payment of the note at maturity.

Determine the due date and the amount of interest due at maturity on the following notes:

$$\begin{array}{llccc} & \text { Date of Note } & \text { Face Amount } & \text { Interest Rate } & \text { Term of Note } \\ \hline \text { E. } & \text { October 4 } & 40,000 & 7 & 90 \text { days }\\ \end{array}$$

Hospital length of stay. Health insurers and the federal government are both putting pressure on hospitals to shorten the average length of stay (LOS) of their patients. The average LOS in the United States is $4.5$ days (Healthcare Cost and Utilization Project Statistical Brief, October 2014). A random sample of 20 hospitals in one state had a mean LOS of $3.8$ days and a standard deviation of $1.2$ days. Use a $90 \%$ confidence interval to estimate the population mean LOS for the state's hospitals.

MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of a recent year, MGM reported accounts receivable of $415,654,000 and allowance for doubtful accounts of$93,760,000. Johnson & Johnson manufactures and sells a wide range of healthcare products including Band-Aids and Tylenol. As of a recent year, Johnson & Johnson reported accounts receivable of $10,114,000,000 and allowance for doubtful accounts of$340,000,000. b. Compute the percentage of the allowance for doubtful accounts to the accounts receivable, for Johnson & Johnson. Round to one decimal place.