A researcher conducts a survey of attitudes towards early prison release. She surveys 170 women and 200 men. She finds that 32% of women are in favor of early release., and 20% of men are in favor of early release. Conduct a statistical test to determine whether there is a difference in attitudes between women and men in their attitudes about early release. Use alpha= .05 to test the statistical hypothesis.

State the hypothesis in statistical terms:

What is the value of the test statistic?

State the obtained p-value:

Do you reject or fail to reject the null hypothesis:

Describe the conclusion of your test in non statistical terms:

Assume that Samsung of South Korea obtains all inputs  from South Korean suppliers whose costs are denominated in won. Also assume that the company has the cost structure shown in the table below to manufacture cell phones. If the won appreciates from ₩1,200/$ to ₩1,000/$ what is the new dollar cost of a Samsung phone?

If wheat costs $4 per bushel in the United States and 2 British pounds per bushel in Great Britain, then in the presence of purchasing-power parity the exchange rate should be:

In November and December Year 1, a newly organized magazine publisher received $72,000 for 1,000 three-year subscriptions at $24 per year, starting with the January Year 2 issue. What amount should they report in the Year 1 income statement for subscription revenue if none of the magazines were delivered in Year 1?

Work in Process Account Data for Two Months; Cost of Production Reports

Pittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows:

During September, 2,600 units in process on September 1 were completed, and of the 28,900 units entering the department, all were completed except 2,900 units that were 4/5 completed.

Charges to Work in Process—Rolling for October were as follows:

During October, the units in process at the beginning of the month were completed, and of the 31,000 units entering the department, all were completed except 2,000 units that were 2/5 completed.

Required:

2. Provide the same information for October by recording the October transactions in the four-column work in process account. Construct a cost of production report, and present the October computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank.

If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent.

Consider the following facts and answer the questions which follow under the heading “Required”.

(This is all the case evidence given by source)

Vince Scaleri made an arrangement with two of his friends saying that he would be glad if they would in their own time provide him with firewood during the winter of 2019. Vince lived in Georgetown, roughly 50 kilometres from the woodyard of his two friends.   Vince stated that the firewood should be cut to a length of 3 feet and to a width of 6 inches. There was no discussion as to the volume of wood which should be supplied nor as to the price for the wood. Vince commenced the discussion using his mobile phone and the friends responded in writing.

By the middle of the winter in 2019, Vince had not been supplied with any wood so he contacted his friends to complain. They responded saying that they had not realised that he was depending on them for his supply of firewood. They explained that due to the Summer bushfires they had lost several stands of timber and it was not possible for them to supply firewood to customers, let alone friends.

Vince was disappointed but discovered an advertisement in the local paper which advertised the benefits of installing an electric fire place which was described as the answer to cold winter nights – it said that if a reader purchased such a fire place it would give the room in which it was installed an even temperature of 20 degrees centigrade. The advertisement said that fireplaces could be purchased from a number of stores.

Vince went to his local furniture store and acquired an electric fireplace. When installed it failed to improve the temperature in Vince’s house and he froze. It transpired that Vince did not purchase the fireplace, instead he was given it in recognition of some work he had done for the store owner six months ago.

Vince’s daughter, Helen, was a teacher and she was injured when she touched the fireplace. As a result she could not continue with her employment as a teacher and she began to suffer from depression.

Vince’s wife had had enough and she went to the bank to obtain a loan to cover the cost of renovations to the house. The bank agreed to a loan of $40,000 provided she arranged for her parents to guarantee the loan. They did so and mortgaged their own home as security. They were at the time in Cairns and the documents providing the security were sent to them to be signed there. The did so and returned them to the bank. The loan was granted but Vince and his wife did not use the loan money for the renovations but took a cruise instead.

On the cruise many of the passengers contracted a disease which required the vessel to be quarantined for 14 days. The cruise was a disaster.

REQUIRED

1. Advise Vince as to whether he can seek damages from his friends who failed to supply the firewood. What would Vince need to prove in order to be successful.

2. Advise Vince whether he would have any claim against the advertiser of the electric fire place or the furniture store from which he purchased the fire place due to the apparently unsatisfactory performance of the fireplace. What would Vince need to prove in order to be successful against each party.

3. Would Helen be likely to have any claim in contract for her injury or the onset of depression? What would she have to prove in order to b successful?

4. Do you think that the parents would be liable to honour their guarantee to the bank in respect of the loan to Vince and his wife? What defence might the parents argue and would they be likely to be successful?

5. Would Vince and his wife be entitled to damages for the fact that the cruise disappointed them? What would they have to prove?

Chapter 4
Critical Thinking Case 2
Reconciling the Campbells' Checking Account

Caleb and Eva Campbell are college students who opened their first joint checking account at the American Bank on September 14, 2015. They've just received their first bank statement for the period ending October 5, 2015. The statement and checkbook ledger are shown in the table below.

From this information, prepare a bank reconciliation for the Campbells as of October 5, 2015, using a form like the one in Worksheet 4.1. Enter all answers as positive values. Leave no cell blank, enter "0" wherever required. Round the answers to the nearest cent. Enter your answers in the given order of Check numbers.

Given the new checkbook balance calculated under Question 1, determine the net adjustment, if any, adjustments will the Campbells need to make in their checkbook ledger. Enter the answers as positive value. Round the answer to the nearest cent.
$  

If the Campbells earned interest on their idle balances because the account is a money market deposit account, what impact would this have on the reconciliation process?

The effect of the interest earnings would have been a(n) in both bank and checkbook balances.

Explain.

1. A poultry company undertook an experiment to determine the effect of certain treatments on chicken growth. A sample of 24 young chicks were given one of three possible treatments to aid their growth. In order of cost from least to most costly, the three treatments were as follows: a cheap food; an expensive food; the expensive food plus an injection of a growth serum. After a fixed period of time, the application of the treatments was halted and the chickens were weighed. The response was their increase in weight (in pounds) over the time period of the experiment. Because of space considerations, the experiment had to be carried out in four different laboratories. These laboratories were randomly selected and labeled as “North”, “South”, “East” and “West”. Each laboratory employed a different technician to carry out the experiment. Six chickens were assigned to each laboratory, and the three treatments were randomly assigned to the chickens within each laboratory (two chickens having each treatment within each laboratory). In your mini-report, explain why it makes sense to design and analyze this as a block design. Using the sample data, formally test whether it turned out to be sensible to use blocks, providing numerical justification (test statistic and P-value) for your conclusion. Also formally assess the main research question of interest: whether the three treatments yield significantly
different mean growth, again providing numerical justification (test statistic and P-value) for your conclusion. If you find a difference across the treatments, investigate exactly which treatments differ significantly from each other. Provide recommendations to the poultry company about their best practices based on your findings.

SAS code:

/* Problem 1 */

DATA one;
INPUT lab $ treatment :$12. growth;
cards;
East Cheap 4.62
East Cheap 4.93
East Expens 6.25
East Expens 5.97
East Expens_Serum 6.41
East Expens_Serum 6.54
West Cheap 5.36
West Cheap 5.49
West Expens 6.53
West Expens 6.62
West Expens_Serum 6.81
West Expens_Serum 6.63
North Cheap 4.65
North Cheap 5.32
North Expens 5.96
North Expens 6.12
North Expens_Serum 6.33
North Expens_Serum 6.44
South Cheap 5.76
South Cheap 6.32
South Expens 6.47
South Expens 6.68
South Expens_Serum 6.71
South Expens_Serum 6.78
;
run;

Why is the study of American Immigrant History an important and integral part of understanding the American experience?