16 Jun Imagine you are a manager at a major bottling company. Customers have begun to complain that the bottles of the brand of soda produced in your company contain less than the advertised sixteen (16) ounces of product. Your boss wants to solve the problem at hand and has asked you to investigate. You have your employees pull thirty (30) bottles off the line at random from all the shifts at the bottling plant. You ask your employees to measure the amount of soda there is in each bottle. Note: Use the data set provided by your instructor to complete this assignment. Bottle Number Ounces Bottle Number Ounces Bottle Number Ounces 1 14.23 11 15.77 21 16.23 2 14.32 12 15.80 22 16.25 3 14.98 13 15.82 23 16.31 4 15.00 14 15.87 24 16.32 5 15.11 15 15.98 25 16.34 6 15.21 16 16.00 26 16.46 7 15.42 17 16.02 27 16.47 8 15.47 18 16.05 28 16.51 9 15.65 19 16.21 29 16.91 10 15.74 20 16.21 30 16.96 Write a two to three (2-3) page report in which you: 1. Calculate the mean, median, and standard deviation for ounces in the bottles. 2. Construct a 95% Confidence Interval for the ounces in the bottles. 3. Conduct a hypothesis test to verify if the claim that a bottle contains less than sixteen (16) ounces is supported. Clearly state the logic of your test, the calculations, and the conclusion of your test. 4. Provide the following discussion based on the conclusion of your test: a. If you conclude that there are less than sixteen (16) ounces in a bottle of soda, speculate on three (3) possible causes. Next, suggest the strategies to avoid the deficit in the future. Or b. If you conclude that the claim of less soda per bottle is not supported or justified, provide a detailed explanation to your boss about the situation. Include your speculation on the reason(s) behind the claim, and recommend one (1) strategy geared toward mitigating this issue in the future. Your assignment must follow these formatting requirements: • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. No citations and references are required, but if you use them, they must follow APA format. Check with your professor for any additional instructions. • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: • Calculate measurements of central tendency and dispersal. • Determine confidence intervals for data. • Describe the vocabulary and principles of hypothesis testing. • Discuss application of course content to professional contexts. • Use technological tools to solve problems in statistics.
Using these financial statements, address the following questions for each company:
How much did each company request in this tax refund from the Internal Revenue Service in 2009?
How much did each company receive in the tax refund? In other words, how much had each company received as of 2009 fiscal year end, how much was each company’s receivable related to the tax credit, and what was the total? How much of the refund did each company include in pre-tax book income?
Did the company record an unrecognized tax benefit related to the tax refund? If the company did not discuss it, you may assume that the answer is no.
If the company did record an unrecognized tax benefit, what percentage of the maximum potential benefit did they reserve?
What were the net operating loss balances at each company?
What were the valuation allowances on deferred tax assets at each company? Did the valuation allowances pertain to the net operating loss carryforwards?
Did the company have any other large and noteworthy differences between book income and taxable income?
Given the facts you just compiled, address the following questions for each company:
If a company excluded the tax refund from taxable income, and did not record an unrecognized tax benefit, what must the company believe about whether the IRS and tax courts will challenge and allow this exclusion? Explain using the language of FIN 48.
If a company excluded the tax refund from taxable income, and did record an unrecognized tax benefit, what must the company believe about whether the IRS and tax courts will challenge and allow this exclusion? Explain using the language of FIN 48.
If a company included the tax refund in taxable income, what must the company believe about whether the IRS and tax courts would challenge and allow this excluding the tax refund? Explain using the language of FIN 48.
What similarities and differences do you notice among the companies that accounted for the tax refund in the same way?
What similarities and differences do you notice among the companies that accounted for the tax refund the differently?
Given these similarities and differences, what factors – other than the appropriate use of FIN 48 – might have affected these companies’ decisions on how to account for the tax refund?
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