1. A nursing audit was carried out for four populations of patients in a large community hospital. The total audit score for each patient reflects nursing performance for several basic areas (application of nursing procedures and promotion of total health, for example). The table below presents the total audit scores for five randomly selected patients on within each of the audited populations within the given hospital.

   Medical	Surgical	Pediatrics	Ob-Gyn
   75	75	70	50
   65	80	70	65
   50	85	60	70
   60	70	75	70
   70	90	80	75

   The sample means: 64    80 71    66

   Sample st deviations:         9.62 7.91 7.42    9.62

   Perform analysis of variance on this data. The F-statistic for the ANOVA test, rounded to three decimal places, is

1 points   

QUESTION 8

1. The P-value for the ANOVA test in number 7 is

   	A.	between 0.05 and 0.10.
   	B.	greater than 0.10.
   	C.	less than 0.01.
   	D.	less than 0.05.

1 points   

QUESTION 9

1. Which one of the statements below is the best conclusion for your test in number 7?

   	A.	The test shows that the differences in the mean scores are statistically significant but in looking at the descriptive summaries (sample means) we see that the differences are not practically significant.
   	B.	The test shows that the differences in mean scores are not statistically significant.
   	C.	The test allows us to conclude that the mean scores are not all the same, and descriptive summaries of the data (sample means) suggest the mean score for surgical nursing performance is highest.
   	D.	The test allows us to conclude that the mean scores are not all the same, but the mean scores for medical and Ob-Gyn patients are the same.

1 points   

QUESTION 10

1. The ANOVA test of the data in #7 is better than comparing the four populations of scores in six different two-sample tests (comparing all possible pairs) because

   	A.	the conclusions from the six two-sample procedures might not agree.
   	B.	the two-sample tests can be one-sided or two sided and we don't know which alternatives are best.
   	C.	we can control the probability of making a type I error with a single ANOVA test but not with six separate tests, each of which could result in a Type I error.
   	D.	the conditions for two-sample procedures might not be met for all 6 pairs of scores.

Cane Company manufactures two products called Alpha and Beta that sell for $130 and $90, respectively. Each product uses only one type of raw material that costs $5 per pound. The company has the capacity to annually produce 102,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

8. Assume that Cane normally produces and sells 62,000 Betas and 82,000 Alphas per year. If Cane discontinues the Beta product line, its sales representatives could increase sales of Alpha by 17,000 units. What is the financial advantage (disadvantage) of discontinuing the Beta product line?

9. Assume that Cane expects to produce and sell 82,000 Alphas during the current year. A supplier has offered to manufacture and deliver 82,000 Alphas to Cane for a price of $88 per unit. What is the financial advantage (disadvantage) of buying 82,000 units from the supplier instead of making those units?

10. Assume that Cane expects to produce and sell 52,000 Alphas during the current year. A supplier has offered to manufacture and deliver 52,000 Alphas to Cane for a price of $88 per unit. What is the financial advantage (disadvantage) of buying 52,000 units from the supplier instead of making those units?

11. How many pounds of raw material are needed to make one unit of each of the two products?

Cane Company manufactures two products called Alpha and Beta that sell for $170 and $130, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 116,000 units of each product. Its unit costs for each product at this level of activity are given below:

Alpha Beta Direct materials Alpha- $30 Beta- $18

Direct labor Alpha- 30 Beta- 25

Variable manufacturing overhead Alpha- 20 Beta- 15

Traceable fixed manufacturing overhead Alpha-26 Beta- 28

Variable selling expenses Alpha- 22 Beta- 18

Common fixed expenses Alpha- 25 Beta- 20

Total cost per unit Alpha- $153 Beta- $124

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are deemed unavoidable and have been allocated to products based on sales dollars.

7. Assume that Cane normally produces and sells 50,000 Betas per year. If Cane discontinues the Beta product line, how much will profits increase or decrease?

8. Assume that Cane normally produces and sells 70,000 Betas and 90,000 Alphas per year. If Cane discontinues the Beta product line, its sales representatives could increase sales of Alpha by 14,000 units. If Cane discontinues the Beta product line, how much would profits increase or decrease?

9. Assume that Cane expects to produce and sell 90,000 Alphas during the current year. A supplier has offered to manufacture and deliver 90,000 Alphas to Cane for a price of $120 per unit. If Cane buys 90,000 units from the supplier instead of making those units, how much will profits increase or decrease?

10. Assume that Cane expects to produce and sell 60,000 Alphas during the current year. A supplier has offered to manufacture and deliver 60,000 Alphas to Cane for a price of $120 per unit. If Cane buys 60,000 units from the supplier instead of making those units, how much will profits increase or decrease?

11. How many pounds of raw material are needed to make one unit of Alpha and one unit of Beta? Alpha - Beta –

12. What contribution margin per pound of raw material is earned by Alpha and Beta? Alpha - Beta -

13. Assume that Cane’s customers would buy a maximum of 90,000 units of Alpha and 70,000 units of Beta. Also assume that the company’s raw material available for production is limited to 221,000 pounds. How many units of each product should Cane produce to maximize its profits? Alpha - Beta –

14. Assume that Cane’s customers would buy a maximum of 90,000 units of Alpha and 70,000 units of Beta. Also assume that the company’s raw material available for production is limited to 221,000 pounds. What is the maximum contribution margin Cane Company can earn given the limited quantity of raw materials?

15. Assume that Cane’s customers would buy a maximum of 90,000 units of Alpha and 70,000 units of Beta. Also assume that the company’s raw material available for production is limited to 221,000 pounds. Up to how much should it be willing to pay per pound for additional raw materials?

Cane Company manufactures two products called Alpha and Beta that sell for $170 and $130, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 116,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

Required:

1. What is the total amount of traceable fixed manufacturing overhead for each of the two products?

2. What is the company’s total amount of common fixed expenses?

3. Assume that Cane expects to produce and sell 90,000 Alphas during the current year. One of Cane's sales representatives has found a new customer who is willing to buy 20,000 additional Alphas for a price of $120 per unit. What is the financial advantage (disadvantage) of accepting the new customer's order?

4. Assume that Cane expects to produce and sell 100,000 Betas during the current year. One of Cane’s sales representatives has found a new customer who is willing to buy 3,000 additional Betas for a price of $49 per unit. What is the financial advantage (disadvantage) of accepting the new customer's order?

5. Assume that Cane expects to produce and sell 105,000 Alphas during the current year. One of Cane's sales representatives has found a new customer who is willing to buy 20,000 additional Alphas for a price of $120 per unit; however pursuing this opportunity will decrease Alpha sales to regular customers by 9,000 units.

a. What is the financial advantage (disadvantage) of accepting the new customer’s order?

b. Based on your calculations above should the special order be accepted? Yes or NO

6. Assume that Cane normally produces and sells 100,000 Betas per year. What is the financial advantage (disadvantage) of discontinuing the Beta product line?

7. Assume that Cane normally produces and sells 50,000 Betas per year. What is the financial advantage (disadvantage) of discontinuing the Beta product line?

8. Assume that Cane normally produces and sells 70,000 Betas and 90,000 Alphas per year. If Cane discontinues the Beta product line, its sales representatives could increase sales of Alpha by 14,000 units. What is the financial advantage (disadvantage) of discontinuing the Beta product line?

9. Assume that Cane expects to produce and sell 90,000 Alphas during the current year. A supplier has offered to manufacture and deliver 90,000 Alphas to Cane for a price of $120 per unit. What is the financial advantage (disadvantage) of buying 90,000 units from the supplier instead of making those units?

10. Assume that Cane expects to produce and sell 60,000 Alphas during the current year. A supplier has offered to manufacture and deliver 60,000 Alphas to Cane for a price of $120 per unit. What is the financial advantage (disadvantage) of buying 60,000 units from the supplier instead of making those units?

11. How many pounds of raw material are needed to make one unit of each of the two products?

12. What contribution margin per pound of raw material is earned by each of the two products? (Round your answers to 2 decimal

13. Assume that Cane’s customers would buy a maximum of 90,000 units of Alpha and 70,000 units of Beta. Also assume that the raw material available for production is limited to 221,000 pounds. How many units of each product should Cane produce to maximize its profits?

14. Assume that Cane’s customers would buy a maximum of 90,000 units of Alpha and 70,000 units of Beta. Also assume that the raw material available for production is limited to 221,000 pounds. What total contribution margin will it earn?

15. Assume that Cane’s customers would buy a maximum of 90,000 units of Alpha and 70,000 units of Beta. Also assume that the raw material available for production is limited to 221,000 pounds. If Cane uses its 221,000 pounds of raw materials, up to how much should it be willing to pay per pound for additional raw materials? (Round your answer to 2 decimal places.)

Cane Company manufactures two products called Alpha and Beta that sell for $130 and $90, respectively. Each product uses only one type of raw material that costs $5 per pound. The company has the capacity to annually produce 102,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

Questions: (Please show all work/steps)

11. How many pounds of raw material are needed to make one unit of each of the two products?

12. What contribution margin per pound of raw material is earned by each of the two products? (Round your answers to 2 decimal places.

13. Assume that Cane’s customers would buy a maximum of 82,000 units of Alpha and 62,000 units of Beta. Also assume that the company’s raw material available for production is limited to 162,000 pounds. How many units of each product should Cane produce to maximize its profits?

14. Assume that Cane’s customers would buy a maximum of 82,000 units of Alpha and 62,000 units of Beta. Also assume that the company’s raw material available for production is limited to 162,000 pounds. What is the maximum contribution margin Cane Company can earn given the limited quantity of raw materials?

15. Assume that Cane’s customers would buy a maximum of 82,000 units of Alpha and 62,000 units of Beta. Also assume that the company’s raw material available for production is limited to 162,000 pounds. If Cane uses its 162,000 pounds of raw materials, up to how much should it be willing to pay per pound for additional raw materials? (Round your answer to 2 decimal places.)

Cane Company manufactures two products called Alpha and Beta that sell for $165 and $130, respectively. Each product uses only one type of raw material that costs $8 per pound. The company has the capacity to annually produce 113,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

1-1. What is the total amount of traceable fixed manufacturing overhead for each of the two products? (Alpha / Beta)

1-2. What is the company’s total amount of common fixed expenses?

2-1. Assume that Cane expects to produce and sell 89,000 Alphas during the current year. One of Cane's sales representatives has found a new customer who is willing to buy 19,000 additional Alphas for a price of $116 per unit. What is the financial advantage (disadvantage) of accepting the new customer's order?

2-2. Assume that Cane expects to produce and sell 99,000 Betas during the current year. One of Cane’s sales representatives has found a new customer who is willing to buy 2,000 additional Betas for a price of $48 per unit. What is the financial advantage (disadvantage) of accepting the new customer's order?

2-3.

Assume that Cane expects to produce and sell 104,000 Alphas during the current year. One of Cane's sales representatives has found a new customer who is willing to buy 19,000 additional Alphas for a price of $116 per unit; however pursuing this opportunity will decrease Alpha sales to regular customers by 10,000 units.

What is the financial advantage (disadvantage) of accepting the new customer’s order?

3-1. Assume that Cane normally produces and sells 99,000 Betas per year. What is the financial advantage (disadvantage) of discontinuing the Beta product line?

3-2. Assume that Cane normally produces and sells 49,000 Betas per year. What is the financial advantage (disadvantage) of discontinuing the Beta product line?

Cane Company manufactures two products called Alpha and Beta that sell for $165 and $130, respectively. Each product uses only one type of raw material that costs $8 per pound. The company has the capacity to annually produce 113,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

1-1. Assume that Cane normally produces and sells 69,000 Betas and 89,000 Alphas per year. If Cane discontinues the Beta product line, its sales representatives could increase sales of Alpha by 13,000 units. What is the financial advantage (disadvantage) of discontinuing the Beta product line?

1-2. Assume that Cane expects to produce and sell 89,000 Alphas during the current year. A supplier has offered to manufacture and deliver 89,000 Alphas to Cane for a price of $116 per unit. What is the financial advantage (disadvantage) of buying 89,000 units from the supplier instead of making those units?

1-3. Assume that Cane expects to produce and sell 59,000 Alphas during the current year. A supplier has offered to manufacture and deliver 59,000 Alphas to Cane for a price of $116 per unit. What is the financial advantage (disadvantage) of buying 59,000 units from the supplier instead of making those units?

2. How many pounds of raw material are needed to make one unit of each of the two products? (Alpha / Beta)

Suppose you know that the amount of time it takes your friend Susan to get from her residence to class averages  50 minutes, with a standard deviation of 55 minutes. What proportion of Susan's trips to class would take more than  50 minutes? . Enter your answers accurate to two decimal places.

What proportion of her class would take more than  50 minutes?

What proportion of Susan's trips to class would take less than 40 minutes?

What proportion of Susan's trips to class would take more than  50 minutes or less than  40 minutes?

Suppose that there are two individuals (X and Y) and two goods (Food and Clothes) in an economy (Food is in horizatal axes). The initial endowment of X is 50 units of Food and 70 units of of Clothes and initial endowment of Y is 60 units of Food and 40 units of Clothes. Price of Food is $ 96 and price of Clothes is $ 32 . A) What is the price ratio (slope of price line)? B) What much should individuals trade for one good another to assure competitive equilibrium? C) Specify them as ratio of Clothes/Food. D) If X wants to sell 58 units of Food and Y wants to sell 174 units of Clothes, would a competitive equilibrium be formed? Why?