Randall Company is a merchandising company that sells a single product. The company's inventories, cost of goods sold, and sales in dollars for the next two months have been forecasted as follows:
October November
Beginning inventory
12,000
Cost of Goods Sold 45,000 95,000
Sales
80,000 190,000
Ending inventory
5,000
10,000
35% of all sales are cash sales and the remainder are credit sales. 50% of the credit sales are
collected in the 1st month following the sale and 45% collected the 2nd month following.
September sales totaled $100,000 and August sales totaled $60,000.
All inventory purchases are made on account. Half of the purchases are paid for in the month of
the purchase and the remainder is paid in the month following purchase. The balance for
inventory purchases in Accounts Payable at September 30 totaled $16,000.
Salaries paid during each month total $17,000. Other selling and administrative expenses to be
paid each month are expected to be 10% of sales.
Cash at September 30 totaled $10,000. A cash dividend in the amount of $15,000 will be paid in
October

High school seniors with strong academic records apply to the nation’s most selective colleges in greater numbers each year. because the number of slots remains relatively stable, some colleges reject more early applicants. suppose that for a recent admissions class, an ivy league college received 2851 applications for early admission. of this group, it admitted 1033 students early, rejected 854 outright, and deferred 964 to the regular admission pool for further consideration. in the past, this school has admitted 18% of the deferred early admission applicants during the regular admission process. counting the students admitted early and the students admitted during the regular admission process, the total class size was 2375. let e, r, and d represent the events that a student who applies for early admission is admitted early, rejected outright, or deferred to the regular admissions pool.suppose a student applies for early admission. what is the probability that the student will be admitted for early admission or be deferred and later admitted during the regular admission process?