A Local Search Service Company Surveys on the Number of Service

question 51

Essay

A local search service company surveys on the number of service centers available in three major cities for different brands of automobiles with an objective to improve the services to its customers. The data on the 20 automobile brands and the number of service centers are given below: $$\begin{array} { l | c } \text { Brands } & \begin{array} { c } \text { Number of } \\\text { service centers }\end{array} \\\hline \text { Audi } & 38 \\\text { BMW } & 42 \\\text { Mercedes-Benz } & 49 \\\text { Rolls-Royce } & 25 \\\text { Volkswagen } & 30 \\\text { Toyota } & 30 \\\text { Jaguar } & 42 \\\text { Nissan } & 35 \\\text { Ford } & 41 \\\text { Fiat } & 35 \\\text { Land Rover } & 34 \\\text { Chevrolet } & 29 \\\text { Ferrari } & 32 \\\text { Hyundai } & 15 \\\text { Porsche } & 35 \\\text { Skoda } & 42 \\\text { Tata } & 20 \\\text { Honda } & 23 \\\text { Renault } & 40 \\\text { Subaru } & 10\end{array}$$
a. How many automobile brands have centers between 20 and 29 in these three cities?
b. How many automobile brands have more than 40 centers in these cities?

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts’ balances to permanent ones, resetting the temporary accounts for the next period.

Journalized

The process of recording transactions in a company's journal, marking the first step in the accounting process.

End-Of-Period Spreadsheet

A financial statement prepared at the conclusion of an accounting period, summarizing the income, expenses, and adjustments to accounts.

Retained Earnings

Retained earnings are the portion of a company's net income that is kept within the company instead of being paid out to shareholders as dividends, often used for reinvestment in the business or to pay down debt.