7. Consider a two-step, serial, production process with one resource at each step. The processing time at step 1 is 10 minutes and the processing time at step 2 is 5 minutes. There is ample supply of raw materials for step 1 and ample demand.

a) What is the capacity of this process in units per hour?

b) Suppose there is variability in the processing time at step 2. Specifically, the coefficient of variation of processing time at step 2 is 2. However, there is no variability in the processing time at step 1. Now what is the total time needed for a part to go through step 2?

Hint: Total time includes processing and waiting. If step 1 is always working and processing time there is 5 minutes, how much time passes between units arriving at step 2?

c) Now what is the capacity of this process in units per hour?

The yield to maturity on one-year zero-coupon bonds is currently 7 percent; the YTM on two-year zeroes is 8 percent. The federal government plans to issue a two-year-maturity coupon bond, paying coupons once per year with a coupon rate of 9 percent. The face value of the bond is $100.

1. At what price will the bond sell?
2. What will be the yield to maturity on the bond?
3. If the expectations theory of the yield curve is correct, what is the market expectation of the price that the bond will sell for next year?
4. If the liquidity preference theory is correct and you believe that the liquidity premium is 1 percent, what is the market expectation of the price that the bond will sell for next year?

Regression and Correlation

1. What are the the values for "a" and "b"?

2. Pearson's correlation Coefficient value r ?

Female

Student # Gender Height Shoe Age Hand

1 F 68 8.5 20 R

2 F 60 5.5 27 R

3 F 64 7 31 R

4 F 67 7.5 19 R

5 F 65 8 20 R

6 F 66 9 29 R

7 F 62 9.5 30 L

8 F 63 8.5 18 R

9 F 60 5 19 L

10 F 63 7.5 42 R

11 F 61 7 20 R

12 F 64 7.5 17 R

13 F 65 8 19 R

14 F 68 8 19 R

15 F 63 7.5 18 R

16 F 62 7.5 19 R

17 F 64 7 23 R

18 F 72 11 28 R

19 F 62 8 20 R

20 F 59 6.5 29 R

21 F 64 8.5 19 R

22 F 68 9.5 23 R

23 F 65 9.5 34 R

24 F 63 8 27 R

25 F 65 8 23 R

26 F 62 7.5 30 R

27 F 67 7.5 31 L

28 F 66 9 37 R

29 F 61 6 24 R

30 F 61 6.5 46 R

31 F 68 8 20 R

32 F 63 7.5 42 R

33 F 63 5.5 33 R

34 F 63 9 35 R

35 F 65 8 44 R

36 F 69 9 28 R

37 F 68 9 20 R

38 F 63 7 49 R

39 F 62 6.5 19 R

40 F 66 7.5 19 R

41 F 69 7.5 55 R

42 F 69 11 40 R

43 F 63 6.5 19 R

44 F 61 7.5 20 R

45 F 68 9 19 R

Heights of men and women in the U.S. are normally distributed. Recent information shows:.

Adult women heights: µ = 64.1 inches with ? = 2.7 inches.

Female

5. (a) What percent of women are shorter than 64 inches?

(b) In a group of 250 U.S. women, approximately how many women would be shorter than 64 inches? (give a whole number answer)

6. Find the female height of the U.S. population that represents the 72nd percentile.

7. Find the cutoff height to be in the top 10% of female heights in the U.S.

8. The middle 75% of U.S. women will be between ______ inches and ______ inches tall.

9. Recall from Chapter 2 that values outside of 2 standard deviations are considered to be unusual. A woman in the U.S. shorter than ______ inches would be considered “unusually short”.

10. Suppose a sample of 45 females was randomly selected from the U. S. population.

a. Use the Central Limit Theorem to find ?????

b. Use the Central Limit Theorem to find ????? (3 decimal places)

c. Find P(???>65 inches).

C++

1. Write a function decimalToBinary() that takes in a positive integer as a parameter and use as stack to convert the integer to a its corresponding binary representation. Hint: divide the integer by 2.

2. A palindrome is a string of characters (a word, phrase, or sentence) that is the same regardless of whether you read it forward or backward—assuming that you ignore spaces, punctuation, and case. For example, Race car is a palindrome. So is A man, a plan, a canal: Panama. Write a function isPalindrome() that takes a string as a parameter and uses a stack to test whether a string is a palindrome.

3. Suppose that you read a binary string—that is, a string of 0s and 1s—one character at a time. Write a function that use a stack but no arithmetic to see whether the number of 0s is equal to the number of 1s. When these counts are not equal, show which character—0 or 1—occurs most frequently and by how much its count exceeds the other’s.

4. Write a program to test the four functions above.

Match each scenario to the correct statistical test. You may use the tests more than once, and you may not use all of the tests. The solutions will spell out a very important clue about the suspect.

____ According to a recent research study, about 90% of American adults are right-handed, 9% are left-handed, and 1% are ambidextrous. Use a simple random sample of size 80 to determine whether the proportions of CRC students who are right-handed, left-handed, and ambidextrous differ from the national values.

____ Use a sample of size 100 to determine whether the average time spent browsing Netflix for something to watch is greater than 24 minutes. Based on prior data, the population standard deviation is 4.2 minutes.

____ Use a sample of size 45 to determine whether the proportion of CRC students who want to go back to campus is more than 70%.

____ Use a sample of size 50 to determine whether more than 78% of technology companies have Twitter accounts.

• ____ Use a sample of 30 large-sized sodas from each of 5 fast-food restaurants to determine whether the mean volume differs among the restaurants.

• ____ Use a simple random sample of size 200 to determine whether the mean amount of time college students spend watching TV per week is greater than 20 hours. The population standard deviation is unknown.

  ____ Use two samples of size 40 to determine whether the proportion students who withdrew from at least one class this semester is less at CRC than Sierra College.

  ____ Use a sample of size 93 to determine whether a particular diet produces a mean weight loss that is greater than 5 lbs. The population standard deviation is known from prior data.

  ____ Use a sample of 38 Canadian adults and 27 American adults to determine whether the proportion of adults with college degrees is different in Canada and the U.S.

L. Least-squares regression

A. Binomial test
E. One sample t-test
M. Two proportion z-test

T. One proportion z-test
O. One sample z-test
N. Chi-square goodness-of-fit test

H. One-way ANOVA

S. Tukey-Kramer test

F. Two sample t-test

Suspect(s) eliminated:

Use only the information given in a question to answer that question—assume ceteris paribus unless otherwise specified.

Answer all questions correctly.

1. Nearly all cities are non-profit organizations and elected officials are supposed to maximize the welfare of their city.[1] Part of doing this involves hiring managers to operate the various service-providing departments (e.g., trash collection, street repair, etc.).[2] Suppose cities of all sizes across your state/province/region become for-profit corporations. They will issue stock, the stock will be traded on a national exchange (e.g., NYSE), and they will have a Board of Directors which will appoint all city officials. Any economic agent (i.e., person or organization) with the means may purchase stock if legally permitted. As usual, shareholders will elect members of the Board. Furthermore, the city will no longer be permitted to levy taxes. Assume all stockholders have a share of ownership in the city.

1. Will the new system increase or decrease incidents of Moral Hazard by city managers compared to the old system? To help guide your answer, choose one department manager and one (broad) task that person directs. Consider the incentives this person faces under the two regimes and go from there. Explain your answer in under 1 page. Then compare the incentives this manager faces under the two systems.

2. List and discuss 2 externalities (positive and/or negative) which would result from having for-profit cities. Clearly state who the recipients are of the externalities as well as the source(s). Remember to choose and clearly state a primary intent.

[1] They may or may not do this according to their own scruples.

[2] Some cities (e.g., Cincinnati, Ohio) have a City Manager who runs the day-to-day operations. The elected officials appoint this individual to carry out their policies. This person has no policy-making authority.    

7) A researcher suspects that there is a direct relationship between hand-eye coordination and academic success in math. A sample of n = 16 students who have demonstrated above average performance on a second-grade math test is selected. These students are given a standardized hand-eye coordination task where the average score for this group is μ = 55. The 16 students in the sample produced a mean of 61 with SS of 540.

     a) Are the data sufficient to conclude that the high math achievement students have hand-eye

          coordination scores that are significantly different from the general population? Use a two-tailed

          test with α = .01.

     b) Are the data sufficient to conclude that the high math achievement students have hand-eye

          coordination scores that are significantly better than the general population? Use a one-tailed  

          test with α = .01.

8) A newspaper article reported that the typical American family spent an average of μ = $81 for Halloween candy and costumes last year. A sample of n =16 families this year produced a mean of $85 with SS = 6000. Do these data indicate a significant change in holiday spending? Use a two tailed test with α = .05.

Below are selected ratios for three companies which operate in three different industries:

Industry A B C

COGS/Sales 80% 58% n/a

R&D/Sales 0% 7% 0.1%

Advertising/Sales not defined 3% 0.1%

Internet/Sales 0.9% 1% 6%

Net Income/Sales 2.5% 10% 10%

Return on Assets 8.5% 10.6% 7.2%

Inventory Turnover 5.5 4 n/a

AR Turnover 100 6 9

Long-term Debt/Equity 60% 50% 40%

n/a = not available Identify which industry each of the companies A, B, and C operate in. Give two reasons for each of your selections.

Windsor, Inc. is a retailer operating in Calgary, Alberta. Windsor uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Windsor for the month of January 2022.

For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Round answers to 0 decimal places, e.g. 125.)