Teachers at a particular private school thought that they were doing an exceptional job. In order to determine just how good their school was doing, they decided to have 200 of their students undergo intelligence testing just prior to graduation. The particular intelligence test they used is normed to have a mean of 100 and a standard deviation of 15 in the population. The students from the private school scored an average of 97 over the three years that testing was conducted. They wanted to test whether the average score from the private school students was different than the population mean.

a) What is the appropriate model of the population distribution?

b) What are the appropriate hypotheses for this analysis?

c) What is/are the critical value(s) for this test using an alpha of 0.01?

d) What is the observed value of the appropriate test statistic?

e) What is your decision regarding the stated hypotheses?

f) Was the school doing an exceptional job based on their students’ IQs?

bold answers.

1. Utilizing the data shown in the contingency table 1 below, determine whether the relationship between types of residential area and gun ownership is statistically significant. Once you have arrived at an answer for each question, please write a sentence or two interpreting the results, you may want to round the decimals to the nearest whole number (70 pts.).

1. 1. What are the alternative and null hypotheses (5pts)?
2. 2. Calculate the total column percentages (10pts.)

3. Calculate the expected frequency for each cell and explain the meaning of expected frequencies (15 pts).

4. Calculate chi-square (χ ²) for each cell using to the formula (Oi − Ei )²/ Ei (15pt).

5. What is the Chi-square statistic(5 pt)? And what is the critical value for this case at 5% significance level, what information did you use to find it (10pts)?

6. Draw a conclusion about your null hypothesis at 5% significance level, and explain how did you arrive that conclusion (10pt).

A mining company has constructed a town near the site of a rich mineral discovery in a remote part of Australia. It is expected the mineral deposit will be exhausted in 10 years and mining operations will cease and the town will be abandoned after the 10-year period. You have been asked by an agricultural company to evaluate an associated project that involves supplying the mining town with meat and agricultural produce for the 10-year period by developing nearby land. Costs, sales and operating expenses relating to the project are: 1) Investment in land is $1,000,000, farm buildings $200,000 and farm equipment $400,000. 2) The land is expected to have a realisable value of $500,000 in 10 years. 3) The buildings have an estimated life of 20 years at which time their salvage value would be zero. They are to be depreciated on a straight line (prime cost) basis for tax purposes based on this life. The salvage value of the buildings after 10 years is expected to be $50,000. 4) The farm equipment has an estimated life of 10 years and a zero salvage value. The equipment is to be depreciated on a straight line (prime cost) basis for tax purposes based on this life. 5) Investment in working capital is $250,000. This will be recovered at the end of the project’s life. 6) Annual cash sales are estimated to be $3,000,000. 7) Annual cash operating costs are estimated to be $2,200,000 8) Assume tax is paid one year after the year of income 9) The company tax rate is 39 per cent 10) The company required rate of return after-tax is 10 per cent.

Required: Should the agricultural company undertake the project?

1. A valid contract has four required elements: agreement (offer and acceptance), consideration, capacity, and legality. Even when those four elements are present, there can be a valid defense to a contract’s enforceability. For each of the following, answer whether there is an enforceable contract and explain either why or why not.

Example: Betsy hires Frank to transport a shipment of cocaine for her. Answer: Not an enforceable contract. The element of legality is not satisfied because a contact to commit a crime is illegal.

Example: Johnny offers to buy Keith’s goat for $50. Keith says that he would sell the goat for $55. Answer: Not an enforceable contract because there has been no acceptance. Keith’s answer is a counteroffer to Johnny’s offer.

Example: Tom accepts an oral offer to teach at CSU for Fall Semester 2020 through Fall Semester 2025. No enforceable contract. It is a contract that is required to be in writing because it cannot be performed in one year or less. Because the contract was only oral, it is not enforceable.

1. Johnny sees Smith walking down the road and offers to take him home for $5. Smith agrees. There is no written agreement.
2. A group of students downtown Friday night flag down a cab. The cab stops, they get in, and the driver asks them where they are going. They give him an address. When they arrive, they refuse to pay.
3. Johnny promises to donate an empty building he owns to a school for autistic children. The school has outgrown is present location and is looking forward to occupying the building Johnny has promised to give them. After the school sells its present building, and before they can move in the new building, Johnny gets a fantastic offer for the building and sells it. The school sues, but Johnny contends there was no consideration given by the school, so there could be no enforceable K.
4. Johnny sends Lisa a written contract for the sale of a puppy and gives her until Friday to agree. Lisa mails a written acceptance that is postmarked on the Thursday before the deadline. Johnny receives the acceptance after the deadline.
5. Johnny sells Lisa a washing machine and tells her that “this one’s a real beaut” and “is in his eyes the best in class by a mile”. Lisa buys the machine, but later discovers that the brand Johnny sold her received the worst score on quality from Consumer Reports magazine.

You are asked to study the determinants of job satisfaction at your new company. After randomly selecting 40 employees to fill out a questionnaire you regress their job satisfactions score (JOBSAT) on the following variables: SCHOOL = years of schooling MALE = 1 if male Engr = 1 if employee is in the technical division Adv = 1 if employee is in the marketing division Sales = 1 if employee is in the sales division Exec = 1 if employee is in the corporate division Some regression output is attached following the questions below: a) Test whether any of the explanatory variables are related to job satisfaction b) Test the hypothesis that schooling affects job satisfaction c) Give a confidence interval for the coefficient for the MALE variable. What does the interval imply about male versus female job satisfaction? d) Test whether an employee’s job satisfaction depends on the department where they work 4 e) When explaining your results to your boss, she questions whether you performed your analysis correctly since there are four departments in your firm but you only included variables for three departments. How would you respond?

The regression equation is JOBSAT = 51.8 + 3.48 MALE + 0.504 SCHOOL + 6.06 Engr -0.37 Adv +2.99 Sales

Predictor Coef Stdev t-ratio

Constant 51.798 6.888 7.52

MALE 3.484 1.558 2.24

SCHOOL 0.504 0.478 1.05

Engr 6.055 2.219 2.73

Adv -0.370 2.308 -0.16

Sales 2.987 2.190 1.36

s = 4.869 R-sq = 35.3% R-sq(adj) = 25.8%

Analysis of Variance

SOURCE DF SS MS F p

Regression 5 440.18 88.04 3.71 0.009

Error 34 805.89 23.70

Total 39 1246.07

The regression equation is JOBSAT = 53.8 + 3.48 MALE + 0.517 SCHOOL

Predictor Coef Stdev t-ratio

Constant 51.794 6.677 8.06

MALE 3.477 1.723 2.02

SCHOOL 0.517 0.498 1.04 s = 5.390 R-sq = 13.7% R-sq(adj) = 9.1%

Analysis of Variance

SOURCE DF SS MS F p

Regression 2 171.18 85.50 2.94 0.065

Error 37 1075.08 29.06

Total 39 1246.07

After graduating from college, Melissa Malone landed a position with Orchard Creek, one of the finest children’s boutiques in the Boston area. Three years ago, Melissa was promoted to Assistant Buyer. Among her other responsibilities, Melissa is now the sole buyer for the Children’s Accessories Department.

Orchard Creek has successfully been selling children’s clothing over 25years. Its merchandising assortment includes classic children’s clothing, fashionable accessories, and unique gift items for infants, toddlers, boys, and girls.  Employee takes great pride in this store. The boutique, well known for its merchandise quality and exceptional customer service, has received many awards, including the “Readers’ Choice Award” and “Top Pick” for Best Children’s Clothing from local newspapers as well as regional magazine.

This fall, however, the Children’s Accessory Department is failing short of meeting its sales goal. During an October meeting with the department sales manager, the merchandise manager, and the advertising manager, Melissa was directed to examine her department’s performance. Within two days, Melissa must analyze the performance of the Children’s Accessories Department, compare it with the department’s six moth plan, calculate the department’s open-to-buy for the remainder of October, and identify feasible options for getting the department back on track.

Melissa reviewed her six-month plan for Orchard Creek’s Children’s Accessory Department, including the actual performance for August and September. She also observed the department’s current performance from October 1 through October 15. In her midmonth analysis, Melissa observed the following:

• Planned sales for October were $7,891
• Actual sales from October 1 through October 15 were $3,529
• The value merchandise on-order scheduled to arrive before the end of October is $2,749
• Planned markdown for October was 1,560
• Actual markdown taken from October 1 through October 15 was $715
• Stock on hand as of October 15 is valued at $22,160
• Planed EOM for October were $18,272
• Markup % is 61.5 %

When Melissa checked the department Six Month Plan, planned purchase in October was 10,439 at retail and $4, 019 at cost. However, as of October 15, the OTB in her department is very low. What immediate steps should Melissa take to improve her open-to-buy? May have to find OTB at Retail and OTB at Cost.

After graduating from college, Melissa Malone landed a position with Orchard Creek, one of the finest children’s boutiques in the Boston area. Three years ago, Melissa was promoted to Assistant Buyer. Among her other responsibilities, Melissa is now the sole buyer for the Children’s Accessories Department.

Orchard Creek has successfully been selling children’s clothing over 25years. Its merchandising assortment includes classic children’s clothing, fashionable accessories, and unique gift items for infants, toddlers, boys, and girls.  Employee takes great pride in this store. The boutique, well known for its merchandise quality and exceptional customer service, has received many awards, including the “Readers’ Choice Award” and “Top Pick” for Best Children’s Clothing from local newspapers as well as regional magazine.

This fall, however, the Children’s Accessory Department is failing short of meeting its sales goal. During an October meeting with the department sales manager, the merchandise manager, and the advertising manager, Melissa was directed to examine her department’s performance. Within two days, Melissa must analyze the performance of the Children’s Accessories Department, compare it with the department’s six moth plan, calculate the department’s open-to-buy for the remainder of October, and identify feasible options for getting the department back on track.

Melissa reviewed her six-month plan for Orchard Creek’s Children’s Accessory Department, including the actual performance for August and September. She also observed the department’s current performance from October 1 through October 15. In her midmonth analysis, Melissa observed the following:

• Planned sales for October were $7,891
• Actual sales from October 1 through October 15 were $3,529
• The value merchandise on-order scheduled to arrive before the end of October is $2,749
• Planned markdown for October was 1,560
• Actual markdown taken from October 1 through October 15 was $715
• Stock on hand as of October 15 is valued at $22,160
• Planed EOM for October were $18,272
• Markup % is 61.5 %

When Melissa checked the department Six Month Plan, planned purchase in October was 10,439 at retail and $4, 019 at cost. However, as of October 15, the OTB in her department is very low. What immediate steps should Melissa take to improve her open-to-buy? May have to find OTB at Retail and OTB at Cost.

For each of the following scenarios, select the test (from the choices below), that is most appropriate for analyzing the data.

• a) Z-test

• b) One-sample t-test

• c) Independent t-test

• d) Dependent t-test

• e) 1-Way ANOVA

• f) Regression/Correlation

• g) Chi-Square

1. A psychologist wants to know if children with a schizophrenic parent are less well-adjusted than the general population, so she gives 20 children of schizophrenics a measure of psychological adjustment which has a mean of 35 in the general population.

2. A researcher wants to know if 5-yr-old boys and girls differ in their social skills. He recruits 30 brother and sister pairs and administers a social skills inventory with scores that can range from 0 to 80.

3. A sample of 60 children are asked to choose their favorite toy among 3 options (stuffed bear, stuffed dog, stuffed cat). Do children prefer these 3 toys equally?

4. Do married people who have had a greater number of sexual partners in the past report a greater desire to cheat on their spouse (desire to cheat measured on a 10-point scale)?

5. Among people who own pets, are women more likely than men to own cats rather than dogs?

6. Are people more likely to endorse positive rather than negative traits when describing themselves? Participants in a study are asked to rate (on a 7-point scale) the extent to which they possess various traits. Half of the traits they rate themselves on are positive traits and the other half are negative traits.

7. Does caffeine help test performance? 90 participants are randomly assigned to one of 4 groups (no caffeine, small dose, medium dose, and large dose) and then asked to complete a GRE math section.

8. Do seniors study for fewer hours per week than freshmen?

9. Is the average SAT math score of Hunter College students higher than the national average (μ = 500, σ = 100)?

10. Do students’ GPAs tend to improve from freshman to sophomore year?

11. Do more depressed students (depression measured on a 50-point scale) have lower GPAs?

Suppose a particular test of cognitive ability has been found to have great practicality in selecting members of a high school debate team. How much practicality would this same test have for the following situations?

Law school application

Art school application

A police hostage negotiation unit

Executive level positions in a labour union

Actors in a theme park who spend their day dressed in a character costume

Imagine that you have been invited to deliver a speech at a town hall meeting. You are going to deliver a persuasive speech to persuade citizens in your community to vote yes toward the allocation of city funds towards a project or cause that you believe will benefit all members of your community.