A car owner conducts an experiment by filling up their car with 10 gallons of gas and drives until it runs out of gas. The number of miles driven from the 10 times of doing this experiment is shown below: 246 251 279 207 274 255 322 248 231 245

Find the following: Show ALL necessary work

a) Median

b) Lower and Upper Quartiles

c) IQR

d) State the mild outliers, if any. If there are no outliers, then state "no outliers".

The famous Science Fiction author, Arthur C. Clarke, came up with the idea of a geosynchronous communication satellite in 1945, 20 years before the first one, the Intelsat I, was launched. This is a great example of Science Fiction becoming fact. If a satellite is geosynchronous then its period is one day. [So, it stays directly above one point on Earth's surface.] Let's say that we have a geosynchronous communication satellite in orbit around Earth. Calculate the altitude of the satellite (in miles).

A survey was given to 18 students. One question asked about the one-way distance the student had to travel to attend college. The results, in miles, are shown in the following table. Use the median procedure for finding quartiles to find the first, second, and third quartiles for the data. Distance Traveled to Attend College

46 50 18 26 64 78 4 38 44 44 10 70 74 44 86 32 26 48

Q1 =

Q2 =

Q3 =

A company with a large fleet of cars sets a goal of attaining a fleet average of at least 26 miles per gallon of gasoline. To see if that goal is being met, they check the gasoline usage for 50 company trips chosen at random, finding a mean of 25.02 mpg and a standard deviation of 4.83 mpg.

1. a) Is this a strong evidence that they have failed to attain their fuel economy goal? Assume significance level of 0.1.

2. b) Calculate the p-value and confirm that you get the same conclusion as in part (a).

I. You have studied the chapters on unemployment and business cycles. Please review those chapters before you answer this question

1. a) Find the time series data (quarterly or monthly) on the unemployment rate, inflation rate and real GDP growth in the U.S. from 1980 to 2005, and discuss whether the Okun’s Law is valid or not. Then, discuss whether the Phillips curve exists in the U.S. economy( you have to report your data source and or the website).

2. b) Which recession is most severe in terms of its depth and the duration of unemployment?

3. c) Why unemployment rises when the economic is recovering? what kinds of unemployment is it ?

II. Monetary policy will have different impact on the equilibrium rate of interest and GDP. Try to draw three different IS curves with different slopes and show

1. a) The different impact of the same easy money policy on interest rate and GDP in these different IS curves

2. b) Monetary policy is most effective under what conditions ( which IS curve). Why ?

3. c) What determine the slopes of IS curve. Review chapter 14 on sticky price and flexible price model to answer the percentage distribution of both types of firms ,i.e. s vs ( 1-s) under different IS curves( hint : refer to the equations on. P. 408 and p. 411 that

   P=EP+{( 1-s)/a/s} ( ( Y-Y bar) p. 408 Y= Y bar + alpha ( P-EP). P. 411

Cincinnati Paint Company sells quality brands of paints through hardware stores throughout the United States. The company maintains a large sales force whose job it is to call on existing customers as well as look for new business. The national sales manager is investigating the relationship between the number of sales calls made and the miles driven by the sales representative. Also, do the sales representatives who drive the most miles and make the most calls necessarily earn the most in sales commissions? To investigate, the vice president of sales selected a sample of 25 sales representatives and determined:

A) Develop a regression equation including a interaction term.

1) Pat gave 5,000 shares of stock in Coyote Corporation (a publicly traded corporation) to her church (a qualified charitable organization) in the current year. The stock was worth $180,000 and she had acquired it as an investment four years ago at a cost of $120,000. She reported AGI of $300,000 for the year. In completing her current income tax return, how much is her current-year charitable contribution deduction?

2)

Brad, who would otherwise qualify as Faye’s dependent, had gross income of $9,000 during the

year. Faye, who had AGI of $120,000, paid the following medical expenses this year:

What is the total medical expense deduction for Faye?

3)

Corey is the city sales manager for “RIBS,” a national fast food franchise. Every working day,

Corey drives his car as follows:

Corey renders an adequate accounting to his employer. What are Corey’s reimbursable miles?

Code in Java

Change the instructionLabel to ask the user to enter a numeric value into the textField and click the button to convert the entered value from kilometers to miles (1.609344 km = 1 mile).

When the actionButton on the form is clicked, ActionWindow should take the value entered in the textField, convert it from kilometers to miles, and display the result in the resultField.

import java.awt.Container;

import javax.swing.JButton;
import javax.swing.JFrame;
import javax.swing.JLabel;
import javax.swing.JPanel;
import javax.swing.JTextField;

public class ActionWindow extends JFrame {

   JLabel label;
   JButton button;
   JFrame frame;
   JTextField text;

   public ActionWindow() {
       label = new JLabel();
       button = new JButton();
       frame = new JFrame();
       text = new JTextField();
   }

   public static void main(String[] args) {
       WindowRunnable myWindow = new WindowRunnable();
       javax.swing.SwingUtilities.invokeLater(myWindow);
   }

   public static void createAndShowGUI() {
       ActionWindow frame = new ActionWindow();
       frame.setDefaultCloseOperation(frame.EXIT_ON_CLOSE);
       frame.addComponentsToPane(frame.getContentPane());
       frame.pack();
       frame.setVisible(true);
   }

   public void addComponentsToPane(Container pane) {
       JPanel panel = new JPanel();
       panel.add(label);

       pane.add(panel);
      
       JLabel instructionLabel = new JLabel("");
       panel.add(instructionLabel);
      
       JTextField textField = new JTextField("");
       panel.add(textField);
      
       JButton actionButton = new JButton("");
       panel.add(actionButton);
      
       JLabel resultField = new JLabel("");
       panel.add(resultField);

   }
}

class WindowRunnable implements Runnable {
   public void run() {
       ActionWindow.createAndShowGUI();
   }
}

Use Best Response Curve and Isocost Curve = Labor Discipline Model to analyze “game” between trucking companies and drivers.

Background: In the past drivers made by mileage between pick up and delivery points which gave drivers and incentive to maximize mileage, (i.e., drive from NYC to LA in two days in spite of safety rules limiting hours driven per day). Drivers previously recorded fake driving time data to show DOT, but now DOT requires Electronic Logging which operates while a truck is running and records miles and time. Electronic logging will reduce opportunity for drivers to maximize miles/income. Also, most drivers view time on the road away from home as work time. Trucking companies must bid against drivers opportunity costs of working elsewhere when unemployment is low.  

Questions:

Pay based on mileage is a form of piece rate. Why have trucking companies preferred mileage based compensation?

What has changed that makes companies considering moving to hourly compensation? How will firms monitor drivers work effort?

Use the labor discipline model to show the effect on trucking companies of low unemployment and a tight market for workers in other industries.  

Suppose an environmental agency would like to investigate the relationship between the engine size of​ sedans, x, and the miles per gallon​ (MPG), y, they get. The accompanying table shows the engine size in cubic liters and rated miles per gallon for a selection of sedans. The regression line for the data is Y hat=35.9500−3.8750x.

Use this information to complete the parts below

Engine Size   MPG
2.4 25
2.2 31
2.2 24
3.4 21
3.6 24
2.1 29
2.5 25
2.1 29
3.9 21

a) Calculate the coefficient of determination. R²=? (Round to three decimal places as​ needed.)

b) Using α=0.05​, test the significance of the population coefficient of determination.

Determine the null and alternative hypotheses.

c) The​ F-test statistic is? ​(Round to two decimal places as​ needed.)

d) the p-value is? ​(Round to three decimal places as​ needed.)

e) Construct a​ 95% confidence interval for the average MPG of a 2.5​-cubic liter engine.

UCL= ? ​(Round to two decimal places as​ needed.)

LCL= ​? (Round to two decimal places as​ needed.)

f) Construct a​ 95% prediction interval for the MPG of a 2.5​-cubic liter engine.

UPL= ? ​(Round to two decimal places as​ needed.)

LPL= ? ​(Round to two decimal places as​ needed.)