1. Use the above table to obtain the correlection coefficient between the "Price" and the "Number of bedrooms" variable in Excel. Please provide a picture of the Excel spreadsheet results.

2. Interpret the correlation coeffcient that you obtained in part (1), i.e., explain what the number means.

3. Use the above table. Data set and run one multiple regression with "Price" as dependent variable on the following independent variables:

(a) Size

(b) Number of Bedrooms

(c) Number of Baths

(d) Distance to Town Center

(e) Garage dummy

(f) Pool dummy

4. Interpret the estimated value of the intercept, i.e., explain what the number means in this regression.

5. Interpret the estimated value of the coefficient on the “Size (in square feet)” variable, i.e., explain what the number means in this regression.

6. Interpret the estimated value of the coefficient on the “Number of bedrooms” variable, i.e., explain what the number means in this regression.

7. Interpret the estimated value of the coefficient on the “Pool dummy” variable, i.e., explain what the number means in this regression.

8. Are there any coefficient estimates that are statistically significant? If so, name one and explain how you can tell that it is statistically significant.

9. Are there any coefficient estimates that are not statistically significant? If so, name one and explain how you can tell that it is not statistically significant.

10. What is the predicted price for a house that has 2,000 square feet, four bedrooms and two baths, is 12 miles away from the town center, and has neither a garage nor a pool?

11. Consider a new “No Garage dummy” variable that is “1” when a house does not have a garage and “0” when it does have a garage. Suppose that we then run a new multiple regression that is the same regression as in Part (a), but with the “No Garage dummy” variable instead of the “Garage dummy.” What would the estimated value of the coefficient on the “No Garage dummy” be?

12. What percentage of the variation in the dependent variable can be explained by variation in the independent variables?

13. What percentage of the variation in the dependent variable cannot be explained by variation in the independent variables?

The local authority of a small town maintains a theatre and arts centre for the use of a local reprtory company, other visiting groups and exhibitions. Management decisions are taken by a committee which meets regularly to review the accounts and plan the use of the facilities.The theatre employs a full-time staff and a number of artists at costs of $4,800 and $17,600 per month repsectively. The mount a new production every month for 20 performances. Other monthly expenditure of the theatre is as follows:

On average the theatre is half full for the performances of the repertory company. The capacity and seat prices in the theatre are:

A town official claims that the average vehicle in their area sells for more than the 40^th percentile of your data set. Using the data below, run a hypothesis test to determine if the claim can be supported. State all the important values. Use alpha = .05 to test your claim.

Carreras Café is a Spanish restaurant in a college town. The owner expects that the number of meals served in June will be 50 percent below those served in May, because so many students leave for the summer. In May, the restaurant served 4,700 meals at an average price of $20. In the summer (June through August), the average price of a meal typically increases by 35 percent and the average food cost of a meal increases by 10 percent. Other costs are typically unchanged during the summer. The following cost information is available for May.

Required:

Prepare a budgeted income statement for June. (Do not round intermediate calculations.)

Consider a firm who is the only employer in a small town (a labour monopsony). It faces an international price ? > 0 for each unit of output that it produces, its production function is ? = ? ? where ? > 0, and the labour supply is given by ?(?) = ? ∙ ? where ? > 0. Intuitively, the firm’s production function is concave (when ? < 1), linear (when ? = 1), or convex (when ? > 1). a) Find the monopsonist marginal revenue product, and its marginal expenditure on labour. b) Find the optimal number of workers that the firm hires. c) Find the equilibrium wage in this monopsony. d) Assume now that the labour market was perfectly competitive. Find the optimal number of workers the firm hires, and the equilibrium wage in this setting. e) Find the deadweight loss of the monopsony (for now let’s assume ? < 1). f) Evaluate your results in parts (a)-(e) at ? = 1 2 , at ? = 1, and ? = 2 with parameter values ? = 1, and ? = $2.How are your results affected as ? increases (that is, as the firm’s production function becomes more convex).

Consider a firm who is the only employer in a small town (a labour monopsony). It faces an international price ? > 0 for each unit of output that it produces, its production function is ? = ?^? where ? > 0, and the labour supply is given by ?(?) = ? ∙ ? where ? > 0. Intuitively, the firm’s production function is concave (when ? < 1), linear (when ? = 1), or convex (when ? > 1).

a) Find the monopsonist marginal revenue product, and its marginal expenditure on labour.

b) Find the optimal number of workers that the firm hires.

c) Find the equilibrium wage in this monopsony.

d) Assume now that the labour market was perfectly competitive. Find the optimal number of workers the firm hires, and the equilibrium wage in this setting.

e) Find the deadweight loss of the monopsony (for now let’s assume ? < 1).

f) Evaluate your results in parts (a)-(e) at ? = 1 2 , at ? = 1, and ? = 2 with parameter values ? = 1, and ? = $2. How are your results affected as ? increases (that is, as the firm’s production function becomes more convex).

1. You are a nurse working in a labor and delivery unit in a small town near a Native American reservation. Charity, your patient, is about to give birth to her sixth child. Her family does not have health insurance. Normally she would give birth at home; however, her blood pressure is high. Her family is doing a dance to scare away the evil spirits that brought about this medical condition. She is in a lot of pain but refuses an epidural. She believes that pain is something that should be tolerated. There are also about 20 family members present to watch the birth, including all of her children. After the baby is born, she hand-expresses colostrum from her breasts and disposes of it. Additional family members arrive with all sorts of food to celebrate the birth of the baby. (Learning Objectives 5 and 6)

A. What are the cultural traits with Charity and her baby that are specific to her Native American culture?

B. How would you provide culturally sensitive nursing care to Charity and her baby?

1. You are a nurse working in a labor and delivery unit in a small town near a Native American reservation. Charity, your patient, is about to give birth to her sixth child. Her family does not have health insurance. Normally she would give birth at home; however, her blood pressure is high. Her family is doing a dance to scare away the evil spirits that brought about this medical condition. She is in a lot of pain but refuses an epidural. She believes that pain is something that should be tolerated. There are also about 20 family members present to watch the birth, including all of her children. After the baby is born, she hand-expresses colostrum from her breasts and disposes of it. Additional family members arrive with all sorts of food to celebrate the birth of the baby. (Learning Objectives 5 and 6)

A. What are the cultural traits with Charity and her baby that are specific to her Native American culture?

B. How would you provide culturally sensitive nursing care to Charity and her baby?

Investigators are trying to determine if the contamination of a town well led to significant increases in adverse health effects. During the period of time when water was consumed from this contaminated well, there were 16 birth defects among 414 births. After this well was shut off, there were 3 birth defects among 228 births. Investigators asked to determine if the rate of birth defects was higher when the contaminated well was in use.

(a) Estimate the probability of a birth defect when the contaminated water was consumed. Estimate the probability of a birth defect when the contaminated well was shut off.

(b) Calculate the 95% confidence interval for the true population proportion of birth defects when the contaminated water was consumed. Calculate the 95% confidence interval for the true population proportion of birth defects when the well was shut off.

(c) Test the claim that the contaminated well was not associated with an increase in the rate of birth defects in the community at the alpha = 0.05 level, by using the two-proportion z test.

(d) Calculate a 95% confidence interval for the true difference between the proportions of birth defects when the contaminated well was in use versus when the well was shut down.

The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2016, the first day of the fiscal year:

During the year ended June 30, 2017, the following transactions and events occurred in the Town of Weston Water Utility Fund:

Accrued expenses at July 1 were paid in cash.

Billings to nongovernmental customers for water usage for the year amounted to $1,380,000; billings to the General Fund amounted to $107,000.

Liabilities for the following were recorded during the year:

Materials and supplies were used in the amount of $275,000, all for costs of sales and services.

$14,000 of old accounts receivable were written off.

Accounts receivable collections totaled $1,462,000 from nongovernmental customers and $48,400 from the General Fund.

$1,035,000 of accounts payable were paid in cash.

One year’s interest in the amount of $175,000 was paid.

Construction was completed on plant assets costing $250,000; that amount was transferred to Utility Plant in Service.

Depreciation was recorded in the amount of $260,000.

Interest in the amount of $25,000 was reclassified to Construction Work in Progress. (This was previously paid in item 8.)

The Allowance for Uncollectible Accounts was increased by $9,900.

As required by the loan agreement, cash in the amount of $100,000 was transferred to Restricted Assets for eventual redemption of the bonds.

Accrued expenses, all related to costs of sales and services, amounted to $89,000.

Nominal accounts for the year were closed.

Required:
a. Record the transactions for the year in general journal form.
b. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position.
c. Prepare a Statement of Net Position as of June 30, 2017.
d. Prepare a Statement of Cash Flows for the year ended June 30, 2017. Assume all debt and interest are related to capital outlay. Assume the entire construction work in progress liability (see item 3) was paid in entry 7. Include restricted assets as cash and cash equivalents.