TotsPoses, Inc., a profit-maximizing business, is the only photography business in town that specializes in portraits of small children. George, who owns and runs TotsPoses, expects to encounter an average of eight customers per day, each with a reservation price shown in the following table. Assume George has no fixed costs, and his cost of producing each portrait is $35.

a. Complete the following table.

Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Enter your responses as whole numbers.

How much should George charge if he must charge a single price to all customers? $__

At this price, how many portraits will George produce each day? __ portraits

What will be his economic profit? $__ per day

b. How much consumer surplus is generated each day at this price? $__

c. What is the socially efficient number of portraits? __ portraits

d. George is very experienced in the business and knows the reservation price of each of his customers. If he is allowed to charge any price he likes to any consumer, how many portraits will he produce each day? __ portraits.

What will his economic profit be? $__ per day

e. In this case, how much consumer surplus is generated each day? $__

Assignment #3: Independent Samples T test Conduct an Independent Samples T test to answer the questions based on the following scenario. (Assume a non-directional research hypothesis (two-tailed test) and a level of significance of .05) The superintendent who collected data for Assignments 1 and 2, continued to examine the district’s data. One question that concerned the superintendent’s constituencies was the difference between the school performance scores of the superintendent’s district and a neighboring district that had similar demographic and socio-economic characteristics.

The superintendent collected the following information:

School performance scores for superintendent’s district: 72 70 70 71 68 74 66 80 71 74 68 74 74 70 76 67 65 59 72 81 82 83 68 78 80 69 75

School performance scores for comparison district: 71 62 62 71 65 74 61 60 67 63 62 71 66 62 61 71 66 68 72 65 71 86 71 89 67 73

1. What are the mean and standard deviation for the superintendent’s district? 2. What are the mean and standard deviation for the comparison district? 3. State an appropriate null hypothesis for this analysis. 4. What is the observed or computed value of t? 5. What is the value of the degrees of freedom that are reported in the output (equal variances assumed)? 6. What is the reported level of significance? 7. Based on the reported level of significance, would you reject the null hypothesis?

I MAINLY NEED HELP WITH NUMBER 8

***********************************************8. Present the results as they might appear in an article. This must include a table and narrative statement that reports and interprets the results of the Independent Samples T test.

The data in the table represent the number of licensed drivers in various age groups and the number of fatal accidents within the age group by gender. Complete parts ​(a) through ​(c) below

​(a) Find the​ least-squares regression line for males treating the number of licensed drivers as the explanatory​ variable, x, and the number of fatal​ crashes, y, as the response variable. Repeat this procedure for females.

(b) Interpret the slope of the​ least-squares regression line for each​ gender, if appropriate. How might an insurance company use this​ information?

(c) Was the number of fatal accidents for 16 to 20-year-old males above or below​ average? Was the number of fatal accidents for 21 to 24-year-old males above or below​ average? Was the number of fatal accidents for males greater than 74 years old above or below​ average? How might an insurance company use this​ information? Does the same relationship hold for​ females?

Suppose that you were part of the management team for the Bedrock Stone Company and the President of the Firm MR. Slate asked you to determine how much output the company should produce. The Current market price for stone is $5 per ton.

A)      What is the profit maximizing level of output?

B)      What is the marginal revenue at that level of output?

C)      Competition has been fierce in the stone business and Mr. Slate has asked you to develop a report indicating in the event that price begins to fall when should he send Barney and Fred home while the company remains idle?

D)      Is Mr. Slate likely to enjoy these profits over the long-run? Why or Why not?

Roberts Investments is a financial services firm that manages funds for numerous clients. The company uses a proprietary asset allocation model that recommends the portion of each client’s portfolio to be invested in exchange traded fund, income fund and hedge fund.

To maintain diversity in each client’s portfolio, the firm places limits on the percentage of a portfolio that may be invested in each of the three funds, and assigns a limit on the portfolio’s risk index.

A new client, Boris Grey should be advised on allocation of $500,000. Based on an evaluation of the client’s risk tolerance, the Roberts Investments assigned a maximum risk index of .05 to the portfolio. The firm’s risk indicators show the risk rating for the exchange traded fund at .075, while the risk ratings for income fund and hedge fund are at .055 and .01 respectively. An overall portfolio’s risk index is computed as a weighted average of the risk rating for the three funds, where the weights are the fraction of the portfolio invested in each of the funds. Higher value of the risk index represents a more risky portfolio.

To maintain diversity the following investment guidelines are used:

• The amount invested in exchange traded fund should be between 15% and 40% of the total portfolio value.
• The amount invested in income fund should be between 25% and 40% of the total portfolio value.
• At least 30% of the total portfolio value must be in in hedge fund.

Furthermore, the amount invested in exchange traded fund should be at least as high (>=) as the amount invested in hedge fund.

The firm is forecasting annual yields (returns) of 13.5% for the exchange traded fund, 10.25% for income fund and 6.0% for the hedge fund.

Based on the information provided, how should the new client be advised to allocate the $500,000 among the three funds to maximize the overall yield from the portfolio?

Formulate a linear programming model for this portfolio selection problem (define decision variables, write down the objective function, develop constraints – show all steps/calculations) and solve it using Excel’s Solver. Generate Answer report and sensitivity reports.

Ink Spill, a printing company, provides printing services to its customers. Customers normally pay for printing services in advance. In October 2020, Ink Spill received $20,000 from customers for services to be provided in November 2020. A senior accountant at Ink Spill wants to record the full amount as a liability in the company’s Balance Sheet at the end of October 2020.

Required:

Should the $20,000 be recorded as a liability in the company’s Balance Sheet at the end of October 2020? Explain, using the definition and recognition criteria of a liability in your explanation.

The Candy Company can serve customers at a fixed rate of 30 customers/hour. During evenings, between 6pm and 8pm, there is a peak period demand that lasts two hours. During this peak period of two hours, a total of 100 customers show up, at a constant rate.

a. Assuming there was not a single customer in the store at 6pm, how many people are in the store waiting in line and being served at 8pm?

b. Assuming there was not a single customer in the store at 6pm, how much time does a customer wait on average to finish the service (in hour)? Two decimal places

(A). How do the 3 NICE recommendations from 2014 regarding exercise-referral differ from the corresponding recommendations issued by NICE in 2006?

(B). Define the term ‘translational research’, and use your understanding of this term to comment on the ongoing debate (as exemplified by the NICE recommendations mentioned above) regarding the efficacy of exercise-referral in clinical/public health settings.

11. A manufacturing company produced the following number of units in the last 16 days: 27 28 27 28 27 25 25 28 26 28 26 28 31 30 27 26 (e) How many classes would you recommend? Explain. (f) What class interval do you suggest? Explain. (g) What lower limit would you recommend for the first class? Explain. (h) Organize the information into a frequency distribution and determine the relative frequency distribution. You can do this either by hand or in Excel.