Snow avalanches can be a real problem for travelers in the western United States and Canada. A very common type of avalanche is called the slab avalanche. These have been studied extensively by David McClung, a professor of civil engineering at the University of British Columbia. Suppose slab avalanches studied in a region of Canada had an average thickness of μ = 67 cm. The ski patrol at Vail, Colorado, is studying slab avalanches in its region. A random sample of avalanches in spring gave the following thicknesses (in cm). 59 51 76 38 65 54 49 62 68 55 64 67 63 74 65 79 (i) Use a calculator with sample mean and standard deviation keys to find x and s. (Round your answers to two decimal places.) x = cm s = cm (ii) Assume the slab thickness has an approximately normal distribution. Use a 1% level of significance to test the claim that the mean slab thickness in the Vail region is different from that in the region of Canada. (a) What is the level of significance? State the null and alternate hypotheses. H0: μ = 67; H1: μ > 67 H0: μ = 67; H1: μ < 67 H0: μ ≠ 67; H1: μ = 67 H0: μ = 67; H1: μ ≠ 67 H0: μ < 67; H1: μ = 67 (b) What sampling distribution will you use? Explain the rationale for your choice of sampling distribution. The Student's t, since we assume that x has a normal distribution and σ is known. The standard normal, since we assume that x has a normal distribution and σ is known. The Student's t, since we assume that x has a normal distribution and σ is unknown. The standard normal, since we assume that x has a normal distribution and σ is unknown. What is the value of the sample test statistic? (Round your answer to three decimal places.) (c) Estimate the P-value. P-value > 0.250 0.100 < P-value < 0.250 0.050 < P-value < 0.100 0.010 < P-value < 0.050 P-value < 0.010 Sketch the sampling distribution and show the area corresponding to the P-value. WebAssign Plot WebAssign Plot WebAssign Plot WebAssign Plot (d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Are the data statistically significant at level α? At the α = 0.01 level, we reject the null hypothesis and conclude the data are statistically significant. At the α = 0.01 level, we reject the null hypothesis and conclude the data are not statistically significant. At the α = 0.01 level, we fail to reject the null hypothesis and conclude the data are statistically significant. At the α = 0.01 level, we fail to reject the null hypothesis and conclude the data are not statistically significant. (e) Interpret your conclusion in the context of the application. There is sufficient evidence at the 0.01 level to conclude that the mean slab thickness in the Vail region is different from that in the region of Canada. There is insufficient evidence at the 0.01 level to conclude that the mean slab thickness in the Vail region is different from that in the region of Canada.

The mean cost of domestic airfares in the United States rose to an all-time high of $400 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $115. Use Table 1 in Appendix B.

a. What is the probability that a domestic airfare is $560 or more (to 4 decimals)?

b. What is the probability that a domestic airfare is $245 or less (to 4 decimals)?

c. What if the probability that a domestic airfare is between $310 and $500 (to 4 decimals)?

d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar)
$ or - Select your answer -morelessItem 5

A company in the United States, imports and exports equipment. The company uses a perpetual inventory system. During May the company entered into the following transactions. All rate quotations are direct exchange rates.

May 2 Purchased power tools from a wholesaler in Japan, on account, at an invoice cost of 1,600,000 yen. On this date the exchange rate for the yen was $.0072.

4 Sold hand tools on credit that were manufactured in the U.S. to a retail outlet located in West Germany. The invoice price was $2,800. The exchange rate for marks was $.5829.

8 Sold electric drills on account to a retailer in New Zealand. The invoice price was 16,800 U.S. dollars and the exchange rate for the New Zealand dollar was $.576. 10 Purchased drill bits on account from a manufacturer located in Belgium. The billing was for 801,282 francs. The exchange rate for francs was $.0312.

15 Paid 1,000,000 yen on account to the wholesaler for purchases made on May 2. The exchange rate on this date was $.0067.

17 Settled the accounts payable with the Belgium manufacturer. The exchange rate was $.0368.

21 Received full payment from the New Zealand retailer. The exchange rate was $.568.

29 Completed payment on the May 2 purchase. The exchange rate was $.0078.
(Show calculations)
Prepare journal entries on the books of the US Company to record the transactions listed above.

In the United States, the federal government pays for a considerably larger share of social welfare spending (i.e., spending on social insurance programs to help low-income, disabled, or elderly people) than it does for education spending for grades K–12. Similarly, state and local governments provide a larger share of education spending and a smaller share of welfare spending. Is this a coincidence, or can you think of a reason for why this might be so?

The mean cost of domestic airfares in the United States rose to an all-time high of $400 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $105. Use Table 1 in Appendix B.

a. What is the probability that a domestic airfare is $530 or more (to 4 decimals)?

b. What is the probability that a domestic airfare is $240 or less (to 4 decimals)?

c. What if the probability that a domestic airfare is between $300 and $500 (to 4 decimals)?

d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar)
$ or - Select your answer -morelessItem 5

Since September 11th, the United States has struggled with the possibility of having to exist in a "post--American world." What led to the terrorist attacks and how did America respond? How has America sought to retain its position in global leadership? Is it possible for America to remain on top of a global economy and a "globalized" world?

According to a recent study annual per capita consumption of milk in the United States is 21.5 gallons. Being from the Midwest, you believe milk consumption is higher there and wish to test your hypothesis. A sample of 14 individuals from the Midwestern town of Webster City was selected and then each person's milk consumption was entered into the Microsoft Excel Online file below. Use the data to set up your spreadsheet and test your hypothesis.

1. Develop a hypothesis test that can be used to determine whether the mean annual consumption in Webster City is higher than the national mean.

   H₀: ? _________> 21.5≥ 21.5= 21.5≤ 21.5< 21.5≠ 21.5

   H_a: ? _________> 21.5≥ 21.5= 21.5≤ 21.5< 21.5≠ 21.5

2. What is a point estimate of the difference between mean annual consumption in Webster City and the national mean?

   (2 decimals)

3. At ? = 0.05, test for a significant difference by completing the following.

   Calculate the value of the test statistic (2 decimals).

   The p-value is  (4 decimals)

   Reject the null hypothesis?

   _____NoYes

   What is your conclusion?

There are 1254 machinery rebuilding and repairing companies in the United States. A tool manufacturer wishes to survey a simple random sample of these firms to find out what proportion of them are interested in a new tool design. Assume that we’re dealing with a finite population in the following sub-questions.

(a) If the tool manufacturer would like to be 95% confident that the sample proportion is within 0.01 of the actual population proportion, how many machinery rebuilding and repairing companies should be included in the sample (Hint: use the conservative value of p for when p is not given)?

b) Suppose the tool manufacturer has carried out the study, using the sample size determined in part (a), and 39.0% of the machinery rebuilding and repairing companies are interested in the new tool design. Which of the following 95% confidence interval for the population percentage? Show work.

A. CI = (0.3710, 0.4091)

B. CI = (0.3613, 0.4187)

C. CI = (0.3572, 0.4228)

D. CI = (0.3338, 0.4462)

(c)Which of the following is the best interpretation of the confidence interval from the previous part?

A. After performing a large number of samples, we expect to arrive at the same confidence interval as above 95% of the time.

B. We are 95% confident that the unknown population parameter, π, falls in this interval.

C. 95% of all the data values in the population fall within the interval.

D. There is a 5% margin of error in our statistical analysis.

Use quintiles to briefly summarize the degree of income in-equality in the United States. How and to what extent does government reduce income inequality?

a. Assume that Al, Beth, Carol, David, and Ed receive incomes of $500, $250, $125, $75, and $50, respectively. Construct and interpret a Lorenz curve for this five-person economy. What percentage of total income is received by the richest quintile and by the poorest quintile?

b. How does the Gini ratio relate to the Lorenz curve? Why can’t the Gini ratio exceed 1? What is implied about the direction of income inequality if the Gini ratio declines from 0.42 to 0.35? How would one show that change of inequality in the Lorenz diagram?

c. Why is the lifetime distribution of income more equal than the distribution in any specific year?