A researcher claims the mean age of residents of a small town is more than 38 years. The age (in years) of a random sample of 30 sutdents are listed below. At alpha=0.10, is there enough evidence to support the researcher's claim? assum the population standard deviation is 9 years.

Ages (in years)
41
33
47
31
26
39
19
25
23
31
39
36
41
28
33
41
44
40
30
29
46
42
53
21
29
43
46
39
35
33
42
35
43
35
24
21
29
24
25
85
56
82
87
72
31
53
31
33
54
60
31
81
32
40
26
52
37
71

a) Identify the claim and state Ho and Ha
(b) Determine whether the hypothesis test is left-tailed, right-tailed, or two-tailed and whether to use a z-test, a t-test, or a chi-square test. Explain your reasoning
(c)Choose one of the options Option 1: Find the critical value(s), identify the rejection region(s), and find the appropriate standardized test statistic. Option 2: Find the appropriate standardized test statistic and the P-value
(d) Decide whether to reject or fail to reject the null hypothesis
(e) Interpret the decision in the context of the original claim.

Suppose Rialto is the only movie cinema in a small college town, so it is essentially a monopoly for the local movie market. They charge a certain price P for a monthly pass. There is an overall demand curve for movie passes, given by P=900−4Q However, demand in the town has two distinct consumer groups: adults (A) and students (S). The demand for the whole group of adults is given by P=1200−8QA and the inverse demand for students is given by P=400−2QS Assume for simplicity that the constant marginal cost MC(Q) of showing a movie is 20 and there are no additional fixed costs.

(a) Suppose everybody can easily get a fake student ID and there is no way for UMovie to differentiate one group of consumers from another. As a result, the cinema is forced to charge a single price for both groups. Depict this in a figure.

(b) Compute the optimal quantity and price charged by UMovie, as well as total costs and profits. Under this price, who will go to movies? Remember the firm's production rule. Show these values in the figure.

(c) Suppose UMovie has spent $M > 0 to install a machine that can detect very accurately whether a student ID is fake. As a result, the cinema is able to charge each group a different price. Compute the optimal prices for the two groups of consumers.

(d)Depict the demand curve of each group of consumers in a diagram (the same or two different).

A candidate for mayor in a small town has allocated

$40,000 for last-minute advertising in the days pre-

ceding the election. Two types of ads will be used:

radio and television. Each radio ad costs $200 and

reaches an estimated 3,000 people. Each television

ad costs $500 and reaches an estimated 7,000 people.

In planning the advertising campaign, the campaign

manager would like to reach as many people

as possible, but she has stipulated that at least 10 ads

of each type must be used. Also, the number of radio

ads must be at least as great as the number of television

ads. How many ads of each type should be

used? How many people will this reach?

The town of KnowWearSpatial, U.S.A. operates a rubbish waste disposal facility that is overloaded if its 4680 households discard waste with weights having a mean that exceeds 27.22 lb/wk. For many different weeks, it is found that the samples of 4680 households have weights that are normally distributed with a mean of 26.95 lb and a standard deviation of 12.13 lb. What is the proportion of weeks in which the waste disposal facility is overloaded? P(M > 27.22) = Enter your answer as a number accurate to 4 decimal places. NOTE: Answers obtained using exact z-scores or z-scores rounded to 3 decimal places are accepted. Is this an acceptable level, or should action be taken to correct a problem of an overloaded system? Yes, this is an acceptable level because it is unusual for the system to be overloaded. No, this is not an acceptable level because it is not unusual for the system to be overloaded.m

Government is considering building a public park in a small town ìBelleî. The cost of building this park is 120. There are three people in this town, Arnold, Ben, and Carrol. Each personís valuation of the park is 20, 30, and 80 respectively. But, government does not know these valuations.

(a) The government decides whether to build this park by majority voting. If majority supports building the park, then cost will be equally shared. What will be the outcome of majority voting?

(b) Government suggests that the cost of building the park will be financed through the government revenue in other towns. But government will only take this project when the benefit is higher than the cost. Government want survey these three to know the benefit of the park. Do you think this is the right plan to get the benefit of the park? Explain why or why not.

(c) Government suggests another plan. Government will survey these three to get the valuation of the park. If the sum of benefit is greater than the cost, cost will proportionately shared among three according to the reported valuation. For example, the reported valuation is 50, 60, and 70, then each cost share will be 50/(50+60+70), 60/(50+60+70), and 70/(50+60+70). Do you think this is the right plan to get the true valuation? Explain why or why not.

A candidate for mayor in a small town has allocated $40,000 for last-minute advertising in the days preceding the election. Two types of ads will be used: radio and television. Each radio ad costs $200 and reaches an estimated 3000 people. Each television ad costs $500 and reaches an estimated 7,000 people. In planning the advertising campaign, the campaign manager would like to reach as many people as possible, but she has stipulated that at least 10 ads of each type must be used. Also, the number of radio ads must be at least as great as the number of television ads. How many ads of each type should be used? How many people will this reach? This should be done in excel.

Caring for Kids Ltd (CFK) is listed on the Australian Securities Exchange. The company provides childcare services for pre-school children. CFK has undertaken significant expansion of its operations over the past two years. This strategy has resulted in the acquisition of a total of 200 new centres with childcare licences in Australia, New Zealand and the Page 259 United Kingdom. The expansion strategy has been funded mainly from borrowings that have been sourced in both local and foreign currency. CFK’s board consists of five directors: three non-executive directors, the CEO and CFO. None of the three non-executive directors have any formal qualifications or background in business. The board has expressed concern about the pace of expansion, due to CFK’s accounting system failing to effectively integrate the acquired companies’ complex information systems.

Based on the background information, identify four inherent risk factors for CFK and explain their impact on the financial report.

All work and answers go on paper/tablet other than this quiz page.

Mitch of 70 kg is out in space in his new spacesuit. He is chillin' and listening to his favorite tunes on his CD player. (Yes, Mitch is ol' school.) Skid is in his spaceship and is moving away from Mitch at 0.8c relative to Mitch.

1. a) Skid tells Mitch over the radio that is takes 12 ms for the CD to make one revolution. How long does Mitch say is takes the CD turn make one revolution?

2. b) Mitch tells Skid that his spaceship is 15 m long. How long does Skid say his ship is?

3. c) What is Mitch's relativistic energy relative to Skid?

4. d) Skid wants Mitch to listen to his new album 3 Lb. Thrill. So, he ejects it out of his spaceship towards Mitch at 0.5c relative to the ship. What is the magnitude and state the direction of the velocity of Skid's album relative to Mitch?

Skill sets for manufacturing workers are changing rapidly as manual labor is being replaced with employee-assisted manufacturing robots. Rather than hire new workers, a company chooses to invest in a skill-based pay plan that will tie pay increases to successfully learning new skills. The cost of the training system is significantly higher than anticipated, causing the company to limit access to training. The company decides to limit participation to workers who joined the company upon completing high school (age 18) and who have fewer than 15 years with the company. This decision excludes a large segment of the workforce who have substantially higher seniority, particularly those with more than 25 years of seniority.

Questions:

1. 5-9. What would you do? (Hint: Review the material in Chapter 2, Learning Objective 2-5.)

2. 5-10. What factor(s) in this ethical dilemma might influence a person to make a less-than-ethical decision?