A magazine collects data each year on the price of a hamburger in a certain fast food restaurant in various countries around the world. The price of this hamburger for a sample of restaurants in Europe in January resulted in the following hamburger prices (after conversion to U.S. dollars). 5.18 4.99 4.06 4.68 5.25 4.66 4.12 4.98 5.19 5.59 5.33 4.60 The mean price of this hamburger in the U.S. in January was $4.61. For purposes of this exercise, assume it is reasonable to regard the sample as representative of these European restaurants. Does the sample provide convincing evidence that the mean January price of this hamburger in Europe is greater than the reported U.S. price? Test the relevant hypotheses using α = 0.05. (Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)

t =

P-value =

Following is the adjusted trial balance, with accounts in alphabetical order, for TRN Magazine as at January 31, 2017: Debit Credit Accounts receivable $ 21,300 Accumulated depreciation, equipment $ 12,300 Cash 8,800 Depreciation expense, equipment 1,650 Equipment 19,300 Interest income 480 Rent expense 17,800 Salaries expense 61,300 Subscription revenues 71,300 Trish Norris, capital 46,470 Trish Norris, withdrawals 19,700 Unearned subscription revenue 19,300 Totals $ 149,850 $ 149,850 Required: Prepare the closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

An article in Fortune magazine reported on the rapid rise of fees and expenses charged by mutual funds. Assuming that stock fund expenses and municipal bond fund expenses are each approximately normally distributed, suppose a random sample of 12 stock funds gives a mean annual expense of 1.63 percent with a standard deviation of .31 percent, and an independent random sample of 12 municipal bond funds gives a mean annual expense of 0.89 percent with a standard deviation of .23 percent. Let µ1 be the mean annual expense for stock funds, and let µ2 be the mean annual expense for municipal bond funds. Do parts a, b, and c by using the equal variances procedure. Then repeat a, b, and c using the unequal variances procedure. (a) Set up the null and alternative hypotheses needed to attempt to establish that the mean annual expense for stock funds is larger than the mean annual expense for municipal bond funds. Test these hypotheses at the .05 level of significance. (Round your sp2 answer to 4 decimal places and t-value to 3 decimal places.) H0: µ1 − µ2 ≤ 0 versus Ha: µ1 − µ2 > 0 s2p= t = H0 with α = .05 (b) Set up the null and alternative hypotheses needed to attempt to establish that the mean annual expense for stock funds exceeds the mean annual expense for municipal bond funds by more than .5 percent. Test these hypotheses at the .05 level of significance. (Round your t-value to 3 decimal places and other answers to 1 decimal place.) H0: µ1 − µ2 versus Ha : µ1 − µ2 t = H0 with α = .05 (c) Calculate a 95 percent confidence interval for the difference between the mean annual expenses for stock funds and municipal bond funds. Can we be 95 percent confident that the mean annual expense for stock funds exceeds that for municipal bond funds by more than .5 percent? (Round your answer sx¯1−x¯2 to 4 decimal places and other answers to 3 decimal places.) The interval = [ , ]. , the interval is .5. Redo of (a) for unequal variances H0: µ1 − µ2 0 versus Ha: µ1 − µ2 0 Sx¯1−x¯2 = t = t.05 = so H0. Redo of (b) for unequal variances H0: µ1 − µ2 < .5 versus Ha : µ1 − µ2 t = so H0. Redo of (c) for unequal variances The interval = [ , ]. , the interval is .5.

A magazine article reporting on a survey of the attitudes of men from a certain​ region, noted that​ "Young men are more comfortable than older men talking about their​ problems." The survey reported that 98 of 158 surveyed​ 18- to​ 24-year-old men and 103 of 196 surveyed​ 25- to​ 34-year-old men said they were comfortable. Is the​ magazine's interpretation justified by these​ numbers? What is the Z score and P value?

In an article about the cost of health care, Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328 (Money, January 2009). Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. Answer the following questions about the cost of a hospital emergency room visit for this medical service.

1. What is the probability that the cost will be more than $500?
2. What is the probability that the cost will be less than $250?
3. What is the probability that the cost will be between $300 and $400?
4. If the cost to a patient is in the lower 8% of charges for this medical service, what was the cost of this patient’s emergency room visit?

Suppose that a recent issue of a magazine reported that the average weekly earnings for workers who have not received a high school diploma is $495. Suppose you would like to determine if the average weekly for workers who have received a high school diploma is significantly greater than average weekly earnings for workers who have not received a high school diploma. Data providing the weekly pay for a sample of 50 workers are available in the file named WeeklyHSGradPay. These data are consistent with the findings reported in the article.

(a)

State the hypotheses that should be used to test whether the mean weekly pay for workers who have received a high school diploma is significantly greater than the mean weekly pay for workers who have not received a high school diploma. (Enter != for ≠ as needed.)

H₀:

$$μ≤495

H_a:

$$μ>495

(b)

Use the data in the file named WeeklyHSGradPay to compute the sample mean, the test statistic, and the p-value. (Round your sample mean to two decimal places, your test statistic to three decimal places, and your p-value to four decimal places.)

sample mean= test statistic=18.542 p-value=

(c)

Use

α = 0.05.

What is your conclusion?

Reject H₀. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.Reject H₀. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.    Do not reject H₀. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.Do not reject H₀. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.

(d)

Repeat the hypothesis test using the critical value approach.

State the null and alternative hypotheses. (Enter != for ≠ as needed.)

H₀:

$$μ≤495

H_a:

$$μ>495

Find the value of the test statistic. (Round your answer to three decimal places.)

18.542

State the critical values for the rejection rule. (Round your answers to three decimal places. If the test is one-tailed, enter NONE for the unused tail.)

test statistic≤NONE test statistic≥

State your conclusion.

Reject H₀. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.Reject H₀. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.    Do not reject H₀. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.Do not reject H₀. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.

The demand for a certain weekly magazine at a newsstand is a discrete random variable, X. The demand never exceeds 6 magazines per week. The distribution of X is symmetric about the value of 3.

1. The table below is intended to present the distribution of variable X. Complete the table. x 0 1 2 3 4 5 6 P(X = x) 0.05 0.10 0.20

2. The magazines cost $4.00 per copy for the owner of the newsstand and are sold for $6.00 per copy to the customers. At the beginning of each week, the owner of the newsstand buys 6 magazines to sell during the week. In dollars, what is the expected amount of money the owner of the newsstand will take in from the sales of the magazines per week?

3. Explain briefly why it would not be wise for the owner of the newsstand to buy 6 magazines at the beginning of each week.

Suppose that a recent issue of a magazine reported that the average weekly earnings for workers who have not received a high school diploma is $496. Suppose you would like to determine if the average weekly for workers who have received a high school diploma is significantly greater than average weekly earnings for workers who have not received a high school diploma. Data providing the weekly pay for a sample of 50 workers are available in the file named WeeklyHSGradPay. These data are consistent with the findings reported in the article.
Weekly Pay
687.73   543.15   789.45   442.26   684.85   661.43   478.3   629.62   486.95   786.47
652.15   652.82   669.81   641.13   577.24   845.68   541.59   553.36   743.25   468.61
821.71   757.82   657.34   506.95   744.93   553.2   827.92   663.85   685.9   637.25
530.54   515.85   588.77   506.62   720.84   503.01   583.18   7,980.24   465.55   593.12
605.33   701.56   491.86   763.4   711.19   631.73   605.89   828.37   477.81   703.06
(a)
State the hypotheses that should be used to test whether the mean weekly pay for workers who have received a high school diploma is significantly greater than the mean weekly pay for workers who have not received a high school diploma. (Enter != for ≠ as needed.)
H0:

Ha:

(b)
Use the data in the file named WeeklyHSGradPay to compute the sample mean, the test statistic, and the p-value. (Round your sample mean to two decimal places, your test statistic to three decimal places, and your p-value to four decimal places.)
sample mean   =  
778.01
test statistic   =  
1.927
p-value   =  
0.0299
(c)
Use
α = 0.05.
What is your conclusion?
Reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
(d)
Repeat the hypothesis test using the critical value approach.
State the null and alternative hypotheses. (Enter != for ≠ as needed.)
H0:

Ha:

Find the value of the test statistic. (Round your answer to three decimal places.)
State the critical values for the rejection rule. (Round your answers to three decimal places. If the test is one-tailed, enter NONE for the unused tail.)
test statistic   ≤  
test statistic   ≥  
State your conclusion.
Reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.school diploma.

Suppose that a recent issue of a magazine reported that the average weekly earnings for workers who have not received a high school diploma is $498. Suppose you would like to determine if the average weekly for workers who have received a high school diploma is significantly greater than average weekly earnings for workers who have not received a high school diploma. Data providing the weekly pay for a sample of 50 workers are available in the file named WeeklyHSGradPay. These data are consistent with the findings reported in the article.
Weekly Pay
687.73   543.15   789.45   442.26   684.85   661.43   478.3   629.62   486.95   786.47
652.15   652.82   669.81   641.13   577.24   845.68   541.59   553.36   743.25   468.61
821.71   757.82   657.34   506.95   744.93   553.2   827.92   663.85   685.9   637.25
530.54   515.85   588.77   506.62   720.84   503.01   583.18   7,980.24   465.55   593.12
605.33   701.56   491.86   763.4   711.19   631.73   605.89   828.37   477.81   703.06
(a)
State the hypotheses that should be used to test whether the mean weekly pay for workers who have received a high school diploma is significantly greater than the mean weekly pay for workers who have not received a high school diploma. (Enter != for ≠ as needed.)
H0:

Ha:

(b)
Use the data in the file named WeeklyHSGradPay to compute the sample mean, the test statistic, and the p-value. (Round your sample mean to two decimal places, your test statistic to three decimal places, and your p-value to four decimal places.)
sample mean   =  
778.01
test statistic   =  
1.927
p-value   =  
0.0299
(c)
Use
α = 0.05.
What is your conclusion?
Reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
(d)
Repeat the hypothesis test using the critical value approach.
State the null and alternative hypotheses. (Enter != for ≠ as needed.)
H0:

Ha:

Find the value of the test statistic. (Round your answer to three decimal places.)
State the critical values for the rejection rule. (Round your answers to three decimal places. If the test is one-tailed, enter NONE for the unused tail.)
test statistic   ≤  
test statistic   ≥  
State your conclusion.
Reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can not conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.
Do not reject H0. We can conclude that the mean weekly pay for workers who have received a high school diploma is higher than that for workers who have not received a high school diploma.

question3:

The following is adapted from an article in the Time magazine.

A to Z Fruitworks became a B in 2014. That’s B as in B Corp, short for “benefit corporation.” In B corporations, profits still matter, but employees, suppliers, the community and the environment can be on equal footing with owners or shareholders. “We believe that at every level, everybody has to win, “explains A to Z president Amy Prosenjak. For A to Z, being B means that the grape growers it contracts are guaranteed fair prices in good years and bad and that its distributor aren’t squeezed for every last penny. Employees are paid 43% over the local living wage, and the business is run on a sustainable basis. And Yes, A to Z is profitable; this year it will produce 365,000 cases of juice. B Corp companies represent a particular style of capitalism whose mission includes attacking social and environmental problems. (23 March 2015)

Required:

a.     Briefly discuss, the concept behind the following sentence quoted from the passage above: “In B corporations, profits still matter, but employees, suppliers, the community and the environment can be on equal footing with owners or shareholders.”

b.     What are, in general, the role of accountants in the accounting profession, in contributing to promote business CSR and sustainability?