The SPEA’s administration was concerned about the potential loss that might occur in the event of a power failure. The school estimated that the loss from one of these incidents could be as much as $10 million, including losses due to interrupted student service and potential loss of data collected for years in NSF and DoD sponsored projects. One alternative the school is considering is the installation of an emergency power generator. The cost of the emergency generator is $80,000, and if it is installed, no losses from this type of incident will be incurred. However, if the generator is not installed, there is a 12% chance that a power outage will occur during a year. If there is an outage, there is a .07 probability that the resulting losses will be very large, or approximately $7 million in net aggregated loss. Alternatively, it is estimated that there is a .93 probability of only slight losses of around $1 million. Using decision tree analysis, determine whether the SPEA should have install the new power generator.

The following data is the math test scores of students graduating from a particular high school. The government uses these scores to determine if there will be accreditation awarded. In order for this to occur the mean score must be above 780. A sample of students' scores is drawn at random and they take the test. The scores are in the following table and the population is considered a normal distribution. Test at the .01 level.

980 764 798 760 796 760 798 980 796 796 798 790 960 960 900

1. Perform a hypotheses test to determine if this school should get accreditation. State the appropriate hypothesis. Determine critical values. State clearly what the results of the hypothesis test mean.

2. One of the two people that got a 980 cheated and should be removed from the analysis (you will need a new t critical) Did the cheater affect the accreditation?

a. The cost of a new automobile is $11,200. If the interest rate is 8%, how much would you have to set aside now to provide this sum in eight years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Present value            $

b. You have to pay $15,000 a year in school fees at the end of each of the next nine years. If the interest rate is 11%, how much do you need to set aside today to cover these bills? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Present value            $

c. You have invested $135,000 at 11%. After paying the above school fees, how much would remain at the end of the nine years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Future value            $

Clara is a clerk at a retail outlet. She earns $35,000 a year. She is allowed to work her schedule around her daughter's school athletic events, and because she has seniority over the other clerks, rarely has to work holidays.

Jeff is a new designer for an engineering firm. He earns $75,000 a year. He must be at the office Monday through Friday from 8:00 to 5:00. His wife attends all their children's school events. His job is stressful, and if a project is due, he often works weekends and sometimes holidays, although from home.

How would you compare Clara and Jeff's levels of job satisfaction? Describe how you would measure their satisfaction and name at least three major job attitudes that play a part in each of their satisfaction levels

Problem 4: Teen smoking

According to a report published by the Centers for Disease Control and Prevention, about 20 percent of high school students currently use a tobacco product. This number of down from 23 percent in 2014. (https://www.cdc.gov/tobacco/data_statistics/fact_sheets/youth_data/tobacco_use/index.htm). We would like to conduct a study to evaluate high school students’ attitudes toward scenes of smoking in the movies. Suppose you randomly select students to survey them on their opinion about this question.

a) What is the probability that none of the first 4 students you interview is a smoker? (1 point)

b) What is the probability that there are no more than two smokers among 10 students you randomly choose? (2 points)

c) What is the probability that exactly 3 out of a new sample of 10 students do not smoke? (1 point)

Question 5 The Vision Council of Great Britain is a trade group representing the optical industry (specifically spectacle retailers). The group decides to launch a consumer education programme after research reveals a reluctance to take children for eye tests because parents rely on free school screening. Additional research suggests that 80 per cent of learning before age 12 is accomplished through vision, yet traditionally in school screenings they miss between 70-80 percent of children’s vision problems.

TASK: Your PR firm is retained to conduct a national consumer education programme emphasising the importance of annual eye exams for children. What would you suggest? Programme elements that you should consider include key publics, message themes, time of year, strategies and innovative communication tactics particularly new media and technology.

The dean of the school wants to know the proportion of students in the school who prefer online classes for the next semester. How do you conduct a research to estimate this proportion by sampling (suppose that you can take only one sample of size n which is smaller than the population size N, and also suppose that a %90 percent confidence interval is fine). - You should explain all steps you take including how you make decision about sample size, what question you ask from the sample, the estimator you choose and the reason for that, how you calculate this estimator, and how you build a confidence interval for the parameter based on this estimator..

1)The readings demonstrate some of the conflicting ethics between the legal system and science. For instance, the legal system is founded upon an adversarial model (here in the U.S. anyway –other countries use different models). In our adversarial legal system, and attorneys are ethically obligated to advocate for their client and tell the best story possible for their “side” out of the evidence available. In contrast, science is founded on objectivity – not advocacy – and thus data is supposed to speak for itself rather than be shaped to tell a good story. Why are these competing ethical foundations between the legal system and science important for understanding the challenge of practicing forensic psychology?
2)When a psychologist accepts a referral to do a forensic evaluation, who is the “client?” Discuss how and why this is a complicated question.  
3)Can a forensic psychologist wear “2 hats” – that is, can they serve in multiple roles in a case? For instance, in a child custody evaluation case, can a psychologist who provides treatment to the family then become the forensic psychologist hired in the case to conduct a child custody evaluation to help the court determine custody arrangements? Why or why not?

V. Rahr and Sons is a Fort Worth brewery founded by Fritz Rahr, a Neeley undergraduate and MBA. Currently the company makes Rahr Blonde Lager, Rahr’s Red, and Ugly Pug brews. They are considering a new beer, Frog Princess, with which to celebrate their ties to TCU. The project includes an initial outlay of $750,000 for the purchase of capital equipment that will be depreciated straight line to zero over six years.

Sales are expected to be $400,000 in years 1-3 and $600,000 in years 4-6. Production costs during years 1-6 are as follows: fixed costs (not including depreciation) are expected to be $150,000 per year; variable costs per year will be 40% of sales. The project will require an initial investment in NWC of 200,000 in year 0.

Beyond year six, the company expects that sales and unlevered net income in year seven will be 4% higher than that in year 6, and will continue growing at 4% per year infinitely. Additionally, in year 7 and beyond, new capital expenditures net of depreciation, and increases in NWC, combined, will be 6% of sales. Assume the marginal tax rate is 21%. The appropriate discount rate is 8%.

What is the NPV of the project? What is the IRR? Should the project be undertaken?