A researcher studied how two diets compare in terms of weight loss after 6 months.

40 people used the first diet. Their sample mean was 44, and their sample standard deviation was 10.

60 people used the first diet. Their sample mean was 37, and their sample standard deviation was 15.

a) Give the 92% confidence interval for the true difference between the mean weight losses.

b) Can we conclude that the two diets really differ in terms of the mean weight loss? The P-value is >/< _______.

For the sake of this question, say that country A has a saving rate of 40% and country B has one of 10%. Also, country A’s workers have 7 years of schooling and B’s has 6 years. How do these two country’s per capita income compare?

USING EXCEL FORMULAS SOLVE THE PROBLEM. MUST USE EXCEL CALCULATIONS AND FORMULAS.!!!

1. Find the data for the problem in the first worksheet named LightbulbLife of the data table down below It gives the data on the lifetime in hours of a sample of 50 lightbulbs. The company manufacturing these bulbs wants to know whether it can claim that its lightbulbs typically last more than 1000 burning hours. So it did a study.
   1. Identify the null and the alternate hypotheses for this study.
   2. Can this lightbulb manufacturer claim at a significance level of 5% that its lightbulbs typically last more than 1000 hours? What about at 1%? Test your hypothesis using both, the critical value approach and the p-value approach. Clearly state your conclusions.
   3. Under what situation would a Type-I error occur? What would be the consequences of a Type-I error?
   4. Under what situation would a Type-II error occur? What would be the consequences of a Type-II error?

Maglie Company manufactures two video game consoles: handheld and home. The handheld consoles are smaller and less expensive than the home consoles. The company only recently began producing the home model. Since the introduction of the new product, profits have been steadily declining. Management believes that the accounting system is not accurately allocating costs to products, particularly because sales of the new product have been increasing.

Management has asked you to investigate the cost allocation problem. You find that manufacturing overhead is currently assigned to products based on their direct labor costs. For your investigation, you have data from last year. Manufacturing overhead was $1,254,000 based on production of 350,000 handheld consoles and 107,000 home consoles. Direct labor and direct materials costs were as follows:

Management has determined that overhead costs are caused by three cost drivers. These drivers and their costs for last year are as follows:

Required:

a. How much overhead will be assigned to each product if these three cost drivers are used to allocate overhead? What is the total cost per unit produced for each product? (Round "Total cost per unit" to 2 decimal places.)

b. How much overhead will be assigned to each product if direct labor cost is used to allocate overhead? What is the total cost per unit produced for each product? (Do not round intermediate calculations. Round "Total cost per unit" to 2 decimal places.)

You are attempting to value a call option with an exercise price of $107 and one year to expiration. The underlying stock pays no dividends, its current price is $107, and you believe it has a 50% chance of increasing to $125 and a 50% chance of decreasing to $89. The risk-free rate of interest is 8%. Calculate the call option’s value using the two-state stock price model.

3.   A psychologist is interested in the effects of social pressure. She selects a group of    10 male subjects at random from her introductory psychology course. Each subject    is asked to estimate by eye the length of a stick under two conditions. In one    condition,    the subject is placed in the presence of four other persons who,
   unknown to him, have been instructed to give estimates that are too large. Each of
   these persons gives his estimate orally to the experimenter before the subject is
   asked for his estimate. In the other condition, the same procedure is employed,
   except that the other four persons present are told to give honest estimates. For
   each subject, the order of the two conditions is determined randomly. Estimates
   (in inches) made by each subject under both conditions are given below.

               ESTIMATES MADE           ESTIMATE MADE
               IN UNBIASED              IN BIASED
               ENVIRONMENT              ENVIRONMENT

SUBJECT

   1                       38                       47
  
   2                       35                       45

   3                       37                       42

   4                       40                       45

   5                       45                       47

   6                       34                       40

   7                       40                       43

   8                       36                       45

   9                       43                       40

10                       41                       48

Complete the test of no difference between mean estimates. Use a significance level of .05.

Twenty samples of n = 200 were taken by an operator at a workstation in a production
process. The number of defective items in each sample were recorded as follows

1- develop a P-chart using 3-sigma , set p the P chart and plot the observations to determine if the process was out of control at any point.

2- if the management want to use the pattern tests using 1-sigma , 2- sigma and 3-sigma to further determine if the process is in control . Determine the " up-and-down" and " above -and -below" runs and zone observations to make your recommendation using the control chart.

The table given below reports the marginal revenue and marginal cost of Holmes Detective Agency for each client.
Table 9.2

Refer to Table 9.2. If we assume that Holmes is currently serving 8 clients, then Holmes Agency:

A) Is maximizing profit.

B) Should find more clients to increase profits.

C) Is maximizing total revenue.

D) Could increase profits by serving less clients.

E) Is minimizing cost.

An experiment is planned to compare three treatments applied to shirts in a test of durable press fabric treatments to produce wrinkle-free fabrics. In the past formaldehyde had been used to produce wrinkle-free fabric, but it was considered an undesirable chemical treatment. This study is to consider three alternative chemicals: (a) PCA (1-2-3 propane tricarbolic acid), (b) BTCA tetracarboxilic acid), and (c) CA (citric acid). Four shirts will be used for each of the treatments. First, the treatments are applied to the shirts, which are then subjected to simulated wear and washing in a simulation machine. The chemical treatments will not contaminate one another if they are all placed in the same washing machine during the test. The machine can hold one to four shirts in a single simulation run. At the end of the simulation run each of the shirts is measured for tear and breaking strength of the fabric and how wrinkle-free they are after being subjected to the simulated wear and washing. The comparisons among the treatments can be affected by (a) the natural variation from shirt to shirt; (b) measurement errors; (c) variation in the application of the durable press treatment; and (d) variation in the run of the simulation of wear and washing by the simulation machine. Following is a brief description of three proposed methods of conducting this simple experiment.

Method I. The shirts are divided randomly into three groups of four shirts. Each group receives a durable press treatment as one batch and then each batch is processed in one run of the simulation machine. Each run of the simulation machine has four shirts that have receive and same treatment. There are three runs of the simulation machine.

Method II. The shirts are divided randomly into three treatment groups of four shirt each, and the durable press treatments are applied independently to single shirts. The shirts are grouped into four sets of three, one shirt from each durable press treatment in each of the four sets, and each set of three so constructed is used in one run of the simulation machine. There are four runs of the simulation machine.

Method III. The shirts are divided randomly into three groups of four shirts. The durable press treatments are applied independently to single shirts. The simulation of wear and washing is done as in Method I.

a. Which method do you favor?

b. Why do you favor the method you have chosen?

c. Briefly, what are the disadvantages of the other two methods?

In order to stay up all night to write the paper due tomorrow that she put off for the last month, Jillian takes Adderall, a powerful adrenergic agonist. What would be the impact on her stroke volume, heart rate and mean arterial pressure?

Describe 2 consequences in the body (think of organ or tissue damage) of high blood pressure.

A patient lost a lot of blood during surgery and his blood pressure dropped from 120/80 to 90/50. Given a drop in blood pressure, describe in detail and all steps of how the kidney renin-angiotensin-aldosterone system responds to this change in blood pressure. Include the four effect of angiotensin II. Name two medications that would block this pathway and where. (This is an incredibly important question for your exam! If handwritten, this question would fill most of the page.)