2. In a survey of 2096 US adults, 1740 think football teams of all levels should require players who suffer a head injury to take a set amount of time off from playing to recover.

a. Construct a 90% confidence interval for the population proportion. What is the meaning of the confidence interval?

b. Find the minimum sample size needed to estimate the population proportion at the 90% confidence level, using a prior study that found that 70% of U.S. adults think football teams should require players who suffer a head injury to take a set amount of time off from playing to recover. Your estimate must be accurate within 3% of the population proportion.

Case Study 3:

QWERTY It is now June 2013. Qwerty Limited is an Irish based company that designs, manufactures and sells a wide range of wireless computer keyboards to retailers in both Ireland and Northern Ireland. QWERTY is co- owned by twin brothers Paul and Joe Hayes, who founded the company after graduating from their local university with undergraduate degrees in Computer Science and Electronic Engineering respectively. Since then, QWERTY has experienced rapid sales growth (with modest but growing profitability) and now employs 55 full-time employees from their Limerick base. Paul and Joe are the only directors of the company. Performance Measurement As a result of the on-going difficulties experienced by QWERTY in acquiring adequate levels of credit from their local financial institutions to fund their working capital, Paul and Joe have decided with immediate effect, that if any of their products are budgeted to be loss-making for the forthcoming year, they should be discontinued immediately in an attempt to protect the future viability of the company. Consequently, the 2014 budgetary data for one of QWERTY's most popular (and to-date profitable) keyboards called “Exile”, is causing Paul and Joe a lot of concern (see Appendix I for the 2014 budgetary data on “Exile”). In an on-going attempt to reduce their costs, all of QWERTY's 2014 budgetary forecasts were jointly prepared by the company's co-owners, having previously been contracted out to a small local firm of Chartered Accountants. In addition to focusing on product profitability as a key performance indicator, Paul and Joe are also keen to consider the use of some non-financial metrics to guide them in making future strategic decisions. Having discussed the various options available, allied to the nature of the industry in which they compete, they have collectively decided on “innovation” as the key non-financial success factor for QWERTY to focus on in the short to medium term, although they have yet to agree on any specific performance measures.
Growth Opportunities Paul has always been more growth focused than Joe and for the past year has been exploring various options to expand the company. He has identified a venture capital investor, with an interest in small technology companies. The investor has made an offer to invest €/£ 2 million in QWERTY for 36% of the equity. Paul and Joe agree that this is an attractive offer. An agreement has been signed and this investment will go ahead within the next three months. The venture capital investor is impressed by Paul and Joe's management of QWERTY but has some concerns that it does not have the corporate governance structures to sustain its growth over the medium to long term. As a condition of the investment the venture capital investor is insisting that he has a position on the board of directors and a veto over major strategic decisions made by the company. Paul and Joe are agreeable to these conditions.
Paul is proposing that they use the funds raised from the new investor to part-finance the acquisition of Screen Magic Limited (“SCREEN”), an Irish company which manufactures computer screens. Paul has had preliminary discussions with the owner (and managing director) of SCREEN, who has told him he is keen to retire soon after finding the last few years increasingly stressful trying to resolve a complex tax issue affecting SCREEN and dealing with increasingly onerous regulations on environmental standards in manufacturing. He may be interested in selling SCREEN and has provided information on the company (see Appendix II). Paul has been pushing a “growth by acquisition” strategy for several years because he believes QWERTY is too narrowly focused on one sector and believes acquisitions almost always deliver significant value through synergies and economies of scale. He is confident that if QWERTY acquires another company he and Joe have the management skills required to ensure a successful integration. Paul is eager to agree the terms of the takeover of SCREEN before the venture capital investor takes his seat on the board as he is not sure if the investor would approve of the takeover. Bridging finance would be available from QWERTY's bank to finance the acquisition pending receipt of the new equity funds. This facility would be personally guaranteed by Paul and Joe.

CASE STUDY 3 QUESTIONS

QUESTION 1: Discuss three (3) non-financial considerations that Paul and Joe should also consider prior to making their final decision as to whether or not to withdraw the “Exile” wireless keyboard from sale in 2014.

QUESTION 2: Critically evaluate Paul and Joe's new proposed policy in respect of discontinuing any products, which are budgeted to be loss making within QWERTY. In addition, suggest any improvement to the proposed policy that you consider appropriate.

A. The following probability table contains a list of events that two companies stated as reasons for eliminating jobs in the United States.    

What is the probability that a randomly selected US job was neither eliminated by Company B nor eliminated because of outsourcing?

B. An Ear, Nose and Throat (ENT) medical practice collected information on 200 patients who had throat illnesses the previous year. The study investigated whether the cause of their illnesses was either bacterial or viral. The observed frequencies are shown in the following table.    

What is the probability that a randomly selected patient had a bacterial throat illness given that the patient had pharyngitis?

C. The following table summarizes the number of cavities of 600 elementary students who live in districts within the city that either fluoridate or do not fluoridate their water supply.    

What is the probability that a randomly selected student has 2 cavities given that he/she lives in a district with fluoridated water?

D. The accounting and human resource (HR) departments of a large company recently hired 35 new employees. The departments recorded how long it took newly hired employees to earn a raise. The data are summarized in the following frequency table.   

What is the probability that a randomly selected new employee earned a raise in 6 months given that he/she works in the accounting department?

Please explain each step because Im very confused with all of it, thank you!

The use of animals in research is controversial. Investigate this controversy using at least five resources from the South University Online Library. Do you think it is ethical to use animals in research? Explain your reasoning and support your answer with at least three sources from the South University Online Library (these sources must be different from the ones you already used in this assignment).

J&L Packaging, Inc.: Cash-to-Cash Conversion Cycle Case Study

Jake and Lilly Gifford founded J&L Packaging, Inc. (J&LP) in 1995 after graduating from the University of Cincinnati. Jake earned a degree in robotics and mechanical engineering, while Lilly graduated with a degree in computer science. They met at the university while working on an information systems course project and married immediately after graduation. Their privately held firm manufactured cardboard packaging and boxes for computer devices such as personal computers, keyboards, replacement hard drives, servers, and so on. Many of their packages were high-end boxes with glossy finishes and the company’s logo on the box. Last year, J&L Packaging, Inc. sales were $106 million.

J&LP Packaging provided many services with their products, such as box and packaging design engineering and consulting, embossing and foil guidance, barcode advice, cartons that fold and collapse for easy storage, and a variety of colors and box strengths. In 2010, J&LP began to research the sustainability issues regarding boxes in the reverse logistics supply chain.Their research lead to a change in production technologies to accommodate up to 100 percent recycled fiber content and solar panels on the roofs of their two U.S. factories. They also hired an engineer to lead the company’s efforts to become a “Green Cycle”-certified manufacturer.

J&LP recently purchased and installed an ISOWA FALCON state-of-the-art, four-color, high-speed flexo box machine with an extensive zero defects quality control system. This box cutting and fabrication machine is manufactured in Kasugai, Japan, by the ISOWA Corporation (www.isowa.com). There are several videos of this automated machine in operation on YouTube,” for example https://www.youtube.com/watch?v5XofTns666Aw.

J&LP’s financial information for last year follows. It is assumed the business operates 300 days per year. One note in J&LP financial statement states that the $4,906,000 of inventory does not include $886,000 in inventory allowances for excess, cancelled orders, and obsolete inventories. The note goes on to say, “Inventory management remains an area of focus as we balance the need to maintain strategic inventory levels to ensure competitive lead times versus the risk of inventory obsolescence because of changing technology and customer requirements. The box and packaging business is a dynamic industry that must quickly accommodate customer requirements, changes in forecasts, and new findings from research and development on product features and options.” The following data (in thousands of dollars $) is provided.

1. Should we consider services in the cash-to-cash conversion cycle computations?
2. How will you handle the $886,000 in obsolete inventory?
3. What is the total cash-to-cash conversion cycle for J&L Packaging, Inc. for last year?
4. What are your conclusions and final recommendations?

A breath analyzer is used by the police to estimate blood alcohol content (BAC) from a breath sample. If a person’s BAC is above (or equal to) the legal limit, they can be arrested for suspicion of driving while impaired from alcohol. However, the only way to accurately measure BAC level is through taking a blood sample; a number of factors are known to influence the results of breath analyzers, such as hypoglycemia.

A particular brand of breath analyzer is accurate about 80% of the time. That is, if an individual actually has BAC equal to or above the legal limit, the device indicates a positive result with probability 0.80, and if an individual actually has BAC below the legal limit, the device indicates a negative result with probability 0.80.

a.) Suppose that on any particular Saturday night, about 5% of drivers are known to be driving under the influence.

i. Calculate the probability that a driver who tests positive actually has BAC level equal to or above the legal limit.

ii. How accurate would the device need to be for the probability in part i. to be 0.80?

iii. In language accessible to someone who has not taken a statistics course, explain why the probability in part i. is much lower than the accuracy of the breath analyzer. Limit your answer to at most five sentences.

Juskstock supplies was founded by Bob Juskstock in the early days of the oil boom in Newfoundland to supply clothing to offshore drilling rigs and supply boats. He quickly grew the business to selling safety clothing and safety equipment and hired his cousin to manage sales and the final delivery step to customers. Bob is a hands on owner / manager and is involved in all the daily operational decisions. Bob oversees the identification of new products, inventory management and filling of customer orders. There are 10 people in the warehouse who receive, ship, deliver and take direct orders from customers. There is a general office manager who manages the office, does payroll and handles all the financial transactions and accounting with the assistance of 3 clerks. Bob and his cousin meet each morning to decide what gets shipped out that day and assign the shipping & delivery tasks to four of the warehouse staff. All the warehouse staff receive, ship and deliver. Bob rotates the responsibilities amongst the warehouse staff so that their jobs are more interesting, and he can allocate staff as needed each day. Products are generally stored in a specific area based on product type. However, whoever is shipping sometimes has to spend time trying to locate the product. When there is a new product, the shipper often has to find out who received it and where the receiver decided to put it. As the range of products and number of shipments has increased, warehouse staff are starting to become frustrated with the amount of time they spend looking for things. Delivery is starting later in the day than it used to. Sometimes they are not able to complete their deliveries for that day because they run out of time. The staff asked Bob if he could hire a junior person to help find stuff in the warehouse so that they can load the truck faster. Bob and his cousin are so busy keeping up with the current workload that neither is spending any time acquiring new clients. Bob and his cousin are nearing retirement age and Bob would like to sell his company. He has been told by a business advisor that although there is strong potential for growth, his company operations are very dependent on him and his cousin and this is a risk for someone buying his company. His company would fetch a much better price if it were re-structured to remove those strong dependencies and positioned to successfully seek and handle growth. How should Bob restructure his company to • Decrease the daily operations dependency on himself and his cousin • Increase the sales capability • Improve the efficiency of the warehouse • Maintain the loyalty of the staff

A total of 23 Gossett High School students were admitted to State University. Of those students, 7 were offered athletic scholarships. The school’s guidance counselor looked at each group’s summary statistics of their composite ACT scores, wondering if there was a difference between the groups (those who were not offered scholarships and those who were). The statistics for the 16 students who were not offered scholarships are x̅ = 24.7, s = 2.8 and for the 7 who were, x̅ = 26.5, s = 2.6. Assume that both distributions are approximately normal. Test the counselor’s claim using a 90% Level of Confidence.

We use statcrunch and the p method for homework.

The General Social Survey asked 1,578 US residents: “Do you think the use of marijuana should be made legal, or not?” 61% of the respondents said it should be made legal. Construct a 95% confidence interval for the proportion of US residents who think marijuana should be made legal (p), and interpret it in the context of the data.