A researcher was interested in comparing the GPAs of students at two different colleges. Independent simple random samples of 8 students from college A and 13 students from college B yielded the following GPAs.

College A: 3.7, 3.2, 3.0, 2.5, 3.4, 2.8, 3.6, 2.7

College B: 3.8, 3.2, 3.0, 3.9, 3.8, 2.5, 2.8, 4.0, 3.6, 2.6, 4.0, 3.6, 3.9

Find a 95% confidence interval for the difference, μ1 - μ2, between the mean GPA of college A students and the mean GPA of college B students. Also, find the margin of error. What is the parameter of interest? What is the underlying distribution?

Henry and Bob are both 35 years old but have been investing different amounts of money for different lengths of time.

• Henry saved $15 each month for 12 years at an average interest rate of 3.6% compounded monthly until he was 25. Then he reinvested the entire amount at 3.8% compounded monthly for 10 years.
• Bob has been depositing $18 each month for the past 10 years into a savings account that earns an average annual interest rate of 3.8% compounded monthly.

a) Determine the total value of each of the above investments. Complete the tables or show your formula calculations as part of your solution.

Go to the web site of the Federal Reserve Bank of St. Louis
(FRED)(research.stlouisfed.org/fred2/) and find the most
recent values and values from the same quarter in 1985 fro
nominal GDP, the Velocity of M1 Money Stock (M1V), and
the Velocity of M2 Money Stock (M2V).
a. Using these data, Calculate M1 money supply and the
M2 money supply for both periods.
b. Describe how M1 velocity and M2 velocity differ in the
two quarters.

Monica, a highly successful Corporate Affairs Director has been summoned by her Head Quarter to lead a group of product experts within the company to find a solution to manage the company latest product’s recall. What is an appropriate Leadership Style (amongst the 4 most widely used i.e. Autocratic, Democratic, Transformational and Laissez-Faire) should Monica consider utilizing and why? What is one Leadership Style Monica must try to avoid and why?

On January 2, 2018, Athol Company bought a machine for use in operations. The machine has an estimated useful life of eight years and an estimated residual value of $1,750. The company provided the following information:

1. Invoice price of the machine, $73,000.
2. Freight paid by the vendor per sales agreement, $870.
3. Installation costs, $2,000 cash.
4. Cost of cleaning up the supplies, boxes, and other garbage that remained after the installation of the machine, $125 cash.
5. Payment of the machine's price was made as follows:

January 2:

• Issued 950 common shares of Athol Company at $4 per share.
• Signed a $39,000 note payable due April 16, 2018, plus 12 percent interest.
• Balance of the invoice price to be paid in cash. The invoice allows for a 2 percent cash discount if the cash payment is made by January 11.

January 15: Paid the balance of the invoice price in cash.

April 16: Paid the note payable and interest in cash.

6. On June 30, 2020, the company completed the replacement of a major part of the machine that cost $12,550. This expenditure is expected to reduce the machine’s operating costs, increase its estimated useful life by two years, and decrease its estimated residual value to $1,250.
7. Assume that on October 1, 2025, the company decided to replace the machine with a newer, more efficient model. It then sold the machine to Sako Ltd. on that date for $23,000 cash.

Required:

1. Compute the acquisition cost of the machine.

2. Prepare the journal entries to record the purchase of the machine and subsequent cash payments on January 15 and April 16, 2018. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3. Compute the depreciation expense for each of the years 2018, 2019, and 2020, assuming the company’s fiscal year ends on December 31. Use the straight-line depreciation method. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.)

4. Prepare the journal entry to record the sale of the machine on October 1, 2025. (Hint: First determine the balance of the accumulated depreciation account on that date.) (Do not round intermediate calculations and round your final answers to the nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

When considering the merits of employment resulting from a project, which of the following questions is most important?

Government spending programs that create jobs are often popular because

When the government funds a project that will create jobs, the funds for the project

Compare and contrast “public goods”, “private goods”, normal goods and inferior goods, substitutes and complementary goods.

Bobcat Printing makes custom t---shirts and other promotional products for student organizations and businesses. It is beginning its first year of operations and needs to plan for its first quarter of operations. They would like to maximize their profits, and understand that accurate budgeting can help achieve that goal. The budgets will be prepared based on the following information: a. Sales are budgeted at $20,000 for Month 1, $25,000 for Month 2, and $27,000 for Month 3. All sales will be done on account. Company does not expect to have any cash sales. b. Sales are collected 60% in the month of the sale, and 40% in the month following the sale. c. Cost of Goods Sold is budgeted at 45% of Sales. d. Monthly selling, general, and administrative expenses are as follows: donations are 10% of sales; advertising is 3% of sales; miscellaneous is 1% of sales; and rent is $5,000 per month. All SG&A expenses are paid in the month they are incurred. e. Sincealloftheordersarecustommade,noinventoryiskeptonhandattheendofthe month. f. Inventory purchases are paid in full in the month following the purchase. g. BobcatPrinting is planning to purchase a building in Month 3 for $6,000 in cash. h. Theywouldliketomaintainaminimumcashbalanceof$2,500attheendofeachmonth. Thecompanyhasanagreementwithalocalbankthatallowsthemtoborrow,withatotalline ofcreditof$20,000.Theinterestrateontheseloansis1%permonth(12%annual).They wouldasfaras able,repaytheloanonthelastdayofthemonthwhenithasenoughcashto pay the full balance and maintain an adequate ending cash balance. i. The owner makes a draw of $3,000 every month. (Note: sole proprietors and partnerships take owner’s draws, while stockholders receive dividends). Based upon the information provided, complete the operating budgets provided in the excel template, and answer the questions in TRACS. When making calculations always round up (for example: 33 × 7% = 2.31, round up to 3.00). Check Figures: Gross Margin $39,600 Total assets $19,300 Ending Retained Earnings $5,507

Questions:

12)If you answered "Yes" that Bobcat Printing had to borrow money in the first month, how much money will it need to borrow to ensure it does not have a cash shortage?

A. $500

B. Bobcat Printing does not borrow in the first month.

C. $1,800

D. $1,300

13)If Bobcat Printing borrowed money in Month 1, what is the projected interest expense it will incur for borrowing the money?

A. $130

B. Bobcat Printing will not have interest because it does not need to borrow money in Month 1.

C. $13

D. $170

E. $14

14)Bobcat Printing will have a cash surplus in Month 2.

15)If Bobcat Printing has a projected cash surplus in Month 2, how much cash will it repay for borrowing on its line of credit?

A. Bobcat Printing will not have a cash surplus, therefore it will need to borrow more money in Month 2.

B. $1,100

C. $1,300

D. $1,800

16)Bobcat Printing will have cash shortage in Month 3.

17)Bobcat Printing will need to borrow money in Month 3.

18)How much will Bobcat Printing borrow in Month 3?

A. $2,500

B. Bobcat Printing will not have a projected cash shortage in Month 3, thus it will not borrow money

C. $1,643

D. $1,300

19)

What is the projected gross profit for the first quarter of operations?

A. $14,507

B. $39,600

C. $57,900

D. $29,300

20)

What is the projected interest expense for the first quarter of operations?

A. $34

B. $170

C. $19

D. $13

E8-11 Calculating Cash Receipts [LO 8-4]

Shadee Corp. expects to sell 640 sun visors in May and 430 in June. Each visor sells for $16. Shadee’s beginning and ending finished goods inventories for May are 60 and 45 units, respectively. Ending finished goods inventory for June will be 65 units.

It expects the following unit sales for the third quarter:      

Sixty percent of Shadee’s sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 39 percent is collected during the following month, and 7 percent is never collected.

Required:

Calculate Shadee’s total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.)