Suppose

140

geology students measure the mass of an ore sample. Due to human error and limitations in the reliability of the​ balance, not all the readings are equal. The results are found to closely approximate a normal​ curve, with mean

83

g and standard deviation

3

g. Use the symmetry of the normal curve and the empirical rule as needed to estimate the number of students reporting readings between

80

g and

86

g.

rofessor Moriarty has never taken a formal statistics course; however, he has heard about the bell-shaped curve and has some knowledge of the Empirical Rule for normal distributions. Professor Moriarty teaches as Honors Quantum Physics class in which he grades on the bell curve. He assigns letter grades to his students' tests by assuming a normal distribution and utilizing the Empirical Rule. The Professor reasons that if IQ and SAT scores follow a normal distribution, then his students' scores must do so also. Therefore, upon scoring the tests, he determines the mean and standard deviation for his class. He then uses the Empirical Rule to assign letter grades so that 68% of the students receive a "C," 95% receive "B-D," and 99.7% receive "A-F."

The following test grades occur on the midterm exam for his class: 78 85 93 62 82 76 74 73 91 66 89 88 86 94 65 90 84 92 94 92 82 85 80 77 52 84 78 83

a) You are working as Professor Moriarty's graduate assistant and he has asked that you use the Empirical Rule to determine which of these grades he should assign as "A," "B," "C," "D," and "F." After finding the mean and standard deviation for the midterm grades, give the interval of test scores that will qualify for each letter category. (In other words, what range of scores will earn an "A," "B," and so on?) Also give how many students will earn each letter grade using this grading scheme.

b) Determine the number of students who would receive an "A," "B," "C," "D," and "F" using a standard grading scheme where 90-100 earns an "A," 80-89 earns a "B," 70-79 earns a "C," 65-69 earns a "D," and below 65 earns an "F." Describe this grade distribution and contrast it with the one that results from using the bell curve.

c) As a student of statistics, you have some concerns about Professor Moriarty's use of the normal distribution in this context. Discuss your concerns with your classmates. Why might his practice not be statistically sound? Provide statistical evidence to support your position so that you can justify your argument against this method of grading. (Statistical evidence could include measures of relative position, charts or tables, explanations supported by statistical knowledge or analysis, etc.)

Case Study

Win Vet High School is located in the heart of Sydney. It services students from Year eight (7) to Year twelve (12) in the local surrounding community.

Win Vet High School has hired you to create a front-end administrative website for updating student details to a database. The following are some notes that you have made following initial discussions with the principal and senior educational staff at Win Vet High School.

Based on the requirements you believe that at a minimum the following web pages need to be developed:

• A login web page
• A student web page

The website is to be written in HTML5, CSS, php using a MySQL database to store data. All web pages should be located within the same directory with any images to be stored in a sub-directory called “Images”. You have been supplied with an image called “Logo.png” which must be incorporated into all web pages. This is the high school’s logo as well as create a favicon to use for the website to ensure live presence.

Login web page

The Login web page should be the first web page that the user encounters when they visit the website. It is to contain a username and password fields and a login button to authenticate the user. The password field should also be masked.

Student web page

At the top of the web page a personalised message should be displayed to the user. This message should read “Welcome <<user>>”, where <<user>> is the users name. This name should be retrieved from the stored value that was create from the users being able to use a registration form you will create. This will be displayed after the user logins into the system using the Login page.

Create different themes for different user types. An example is one theme for every guest user (a user that can access the website, student user and an administration user.

For each theme you need to create a skin and CSS file. The skin file should apply styling to the CSS styling each of the web pages while the CSS should apply styling to the HTML elements on the web page. The settings in the skin and CSS files have been left to you but there should be a visible difference between each theme based on its title.

Under this should be the functionality to be able to retrieve, add, edit and delete a student.

Each student should receive a unique student id from the system when they are first added. This should be provided by a New button. Once clicked the system should look up the current highest student id, add 1 to it and then use this as the student id value for the new student. The student id field should be between 1,000 and 10,0000.

To add a student, the user should click the Add button once they have filled out all of the relevant information about the student. At a minimum the user should provide the following information as shown in the following table for a new student.

These details should be validated and then stored using MAMP MySQL database table so they can be accessed.

To retrieve, edit or delete an existing student the user should enter a valid student id, and then click an appropriate button (Retrieve, Update and Delete) to undertake the operation. Validation should occur to ensure that the student id exists for the student that is to be retrieved, deleted or have their details updated.

Usability functionality

As well as allowing a user to be able to change a theme the website should highlight which control the user is currently hovering the mouse cursor over. That is, when a user moves the mouse cursor over a control it should be highlighted in a different colour that none of the themes implement. Once the cursor is moved away from the control the highlighting should disappear.

QUESTION

Identify and report on attributes and determine data types that are required for your database ensuring that you undertake normalization of the attributes and draw the ERD Diagram as well

QUESTION 1

Advance Energy Bhd (AEB) acquired a piece of land and a building on 1 January 2017 at the cost of RM6,000,000 and RM8,000,000 respectively. AEB decided that the acquisition of land is for long term capital appreciation. As for the building, it was planned to be rented out to its wholly subsidiary, Imperial Bhd. The fair value of land and building on 31 December 2017 was RM9,000,000 and RM6,000,000 respectively. On 31 August 2018, due to insufficient working space, AEB decided to terminate the rental agreement with its subsidiary and used the building for administrative use. The building was expected to have a remaining useful life of 10 years. The fair value of the building on 31 August 2018 was RM14,000,000. Unfortunately, due to liquidity issues, AEB sold both land and building on 30 April 2019 for RM15,500,000 and RM12,500,000 respectively. AEB adopted a fair value model for investment property and revaluation model for owner-occupied property. AEB depreciates its non-current assets using the straight-line method and closes its account on 31 December each year.

REQUIRED: (Round all numbers to the nearest RM)

(a) Prepare the journal entries for Advance Energy Bhd for its transaction in the year 2017 and 2018.

(b) Prepare the journal entries for Advance Energy Bhd when it sold both properties in the year 2019.

(c) In accordance with MFRS 140 Investment Property, discuss how Advance Energy Bhd consider the accounting treatment for the building that be rented out to Imperial Bhd.

(d) After the initial recognition, MFRS 140 Investment Property requires an entity to choose either the cost model or fair value model as its accounting policy. Briefly explain TWO (2) differences between these two models.

1. To maintain a strong credit rating, Freedom will borrow $1.2 million today to finance the Ingleburn facility’s expansion. The ten-year principal-and-interest loan has annual interest repayments of $147,949 (assuming a 4% p.a. rate). Freedom’s accountant confirms that interest is classified as a business expense and is tax deductible.

2. There is an anticipated expense of $180,000 to install the equipment associated with the Ingleburn expansion, and a $50,000 cost to upgrade the electricity supply required to commence operations. According to the ATO both of these items are classified as a business expense. The manager of the Ingleburn facility would prefer to classify these expenses as assets and therefore depreciate them over the ten-year project life to give the appearance of higher profitability for the 2018 financial year. The manager is budgeting to achieve a net profit for 2018 of $1.22 million and increasing it by $150,000 for 2019.

3. You assume that the Ingleburn building can be sold for $1.9 million in the year 2028, and at any point in time the equipment will have a resale value of $650,000. In ten years’ time Freedom assumes that it will have cash holdings of $12 million. You note the ATO regulation that all non-current assets be depreciated to zero.

a) Identify the cash flows at the start

b) Identify the cash flows over the life

c) Identify the cash flows at the end

Your firm recently divested some non-core assets and now has a significant amount of excess cash. Branda Sim, the CEO, is considering investing in either Singapore Technologies Engineering Limited (“STE”) shares or 10-year Singapore Government Securities (“SGS”) or a combination of both. She knows that you are studying a Finance course, and she is seeking your advice.

Based on your research, the following market data was obtained:

Information relating to STE

As at December 2018, beta is 0.72.

Information relating to SGS

The coupon rate is 2.75% per year and will mature in December 2023.

Other market data

• Market risk premium = 5.5%

• Inflation rate = 1.2%

(a) Calculate the annual returns for both STE and SGS for the 5 years 2014 to 2018.   

At December 31, 2017, Flounder Corporation reported the following plant assets.

During 2018, the following selected cash transactions occurred.

Journalize the transactions. Flounder uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

eTextbook and Media

List of Accounts

Record adjusting entries for depreciation for 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

eTextbook and Media

List of Accounts

Prepare the plant assets section of Flounder’s balance sheet at December 31, 2018. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2018 transactions.) (List Plant Assets in order of Land, Building and Equipment.)

eTextbook and Media

At December 31, 2017, Flounder Corporation reported the following plant assets.

During 2018, the following selected cash transactions occurred.

Journalize the transactions. Flounder uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

eTextbook and Media

List of Accounts

Record adjusting entries for depreciation for 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

eTextbook and Media

List of Accounts

Prepare the plant assets section of Flounder’s balance sheet at December 31, 2018. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2018 transactions.) (List Plant Assets in order of Land, Building and Equipment.)

eTextbook and Media

List of Accounts

Condensed data from the comparative statement of financial position of Greencastle Inc. follow:

Part 1

Using horizontal analysis, calculate the percentage of a base-year amount, using 2016 as the base year. (Round answers to 1 decimal place, e.g. 15.2%.)

eTextbook and Media

Part 2

Using horizontal analysis, calculate the percentage change for each year. (Round percentage to 1 decimal place, e.g. 15.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1 or parentheses e.g. (45.1)%.)

1) The gravity model describes an empirical relationship between value of trade, size of the economies, and distance between the economies.

a. Write out the generic form of the gravity model and briefly discuss how you would use this model to verify whether its implications are supported by data or not. (10 pts)

b. Suppose the gravity model generally holds for the U.S. and its trading partners. However, a restrictive trade policy limits the trade value without changing the sizes of the economies and the distance. For example, the USMCA mandates at least 75% of an automobile’s value must come from domestic origin. How is this policy reflected in the gravity model? How would you justify such policy using the gravity model?