At the beginning of 2021, angel corporation began offering a 1-year warranty on its products. the warranty program was expected to cost angel 3% of net sales. net sales made under warranty in 2021 were $230 million. five percent of the units sold were returned in 2021 and repaired or replaced at a cost of $5.5 million. the amount of warranty expense in angel's 2021 income statement is:

Suppose a mutual fund qualifies as having moderate risk if the standard deviation of its monthly rate of return is less than 3%. a mutual-fund rating agency randomly selects 27 months and determines the rate of return for a certain fund. the standard deviation of the rate of return is computed to be 2.19%. is there sufficient evidence to conclude that the fund has moderate risk at the alpha equals 0.05 level of significance? a normal probability plot indicates that the monthly rates of return are normally distributed.