12.64  Do poets die young? According to William Butler Yeats, “She is the Gaelic muse, for she gives inspiration to those she persecutes. The Gaelic poets die young, for she is restless, and will not let them remain long on earth.’’ One study designed to investigate this issue examined the age at death for writers from different cultures and genders.²¹ Three categories of writers examined were novelists, poets, and nonfiction writers. Most of the writers are from the United States, but Canadian and Mexican writers are also included. ( DATA Below)

1. (a) Use graphical and numerical methods to describe the data.

2. (b) Examine the assumptions necessary for ANOVA. Summarize your findings.

3. (c) Run the ANOVA and report the results.

4. (d) Use a contrast to compare the poets with the two other types of writers. Do you think that the quotation from Yeats justifies the use of a one-sided alternative for examining this contrast? Explain your answer.

5. (e) Use another contrast to compare the novelists with the nonfiction writers. Explain your choice for an alternative hypothesis for this contrast.

DATA Below:

Required information

[The following information applies to the questions displayed below.]

Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations.

When one company (A) buys another company(B), some workers of company B are terminated. Terminated workers get severance pay. To be fair, company A fixes the severance payment to company B workers as equivalent to company A workers who were terminated in the last one year. A 36-year-old Mohammed, worked for company B for the last 10 years earning 32000 per year, was terminated with a severance pay of 5 weeks of salary. Bill smith complained that this is unfair that someone with the same credentials worked in company A received more. You are called in to settle the dispute. You are told that severance is determined by three factors; age, length of service with the company and the pay. You have randomly taken a sample of 40 employees of company A terminated last year. You recorded

Number of weeks of severance pay

Age of employee

Number of years with the company

Annual pay in 1000s

Answer the following questions based on your outputs. Provide the screen shots of your outputs wherever appropriate.

1. Find the regression equation and rank the variables the campaign type from the most explained to the least explained.

When one company (A) buys another company(B), some workers of company B are terminated. Terminated workers get severance pay. To be fair, company A fixes the severance payment to company B workers as equivalent to company A workers who were terminated in the last one year. A 36-year-old Mohammed, worked for company B for the last 10 years earning 32000 per year, was terminated with a severance pay of 5 weeks of salary. Bill smith complained that this is unfair that someone with the same credentials worked in company A received more. You are called in to settle the dispute. You are told that severance is determined by three factors; age, length of service with the company and the pay. You have randomly taken a sample of 40 employees of company A terminated last year. You recorded

Number of weeks of severance pay

Age of employee

Number of years with the company

Annual pay in 1000s

Identify best subsets of variables based on Mallows Cp. What is the value of R-square to this “best” model? How many outliers are in the dataset? Use the criteria of your choice and mention it(them)

When one company (A) buys another company(B), some workers of company B are terminated. Terminated workers get severance pay. To be fair, company A fixes the severance payment to company B workers as equivalent to company A workers who were terminated in the last one year. A 36-year-old Mohammed, worked for company B for the last 10 years earning 32000 per year, was terminated with a severance pay of 5 weeks of salary. Bill smith complained that this is unfair that someone with the same credentials worked in company A received more. You are called in to settle the dispute. You are told that severance is determined by three factors; age, length of service with the company and the pay. You have randomly taken a sample of 40 employees of company A terminated last year. You recorded

Number of weeks of severance pay

Age of employee

Number of years with the company

Annual pay in 1000s

2. How much variance is not explained by the model? Test the validity of the models that X predict Y (provide hypotheses, decision, conclusion and conclusion in the business context)

Because each industry typically has a different method for recognizing income, revenue recognition is one of the most difficult tasks for accountants, as it involves a number of ethical dilemmas related to income reporting. To provide an industry-wide approach, Accounting Standards Update No. 2014-09 and other related updates were implemented to clarify revenue recognition rules. The American Institute of Certified Public Accountants (AICPA) announced that these updates would replace U.S. GAAP’s current industry-specific revenue recognition practices with a principle-based approach, potentially affecting both day-to-day business accounting and the execution of business contracts with customers.^{1 (Links to an external site.)}What are the requirements of the AICPA and the International Federation of Accountants (IFAC) for professional accountants in regards to new accounting rules and methods of accounting for different transactions, including revenue recognition.

ANSWER THE FOLLOWING QUESTIONS 1a - i......

1.) If a monopolist is producing at a level of output where marginal revenue is greater than marginal cost, the monopolist will:

a) raise the price of its product. b) decrease output. c) increase output. d) shutdown the business.

1.a). A monopolist maximizes profit at a point where:

a) the price elasticity of demand is inelastic. b) the price elasticity of demand is elastic. c) the price elasticity of demand is unit elastic. d) the marginal revenue is negative.

1b.) In the range where a monopolist’s demand curve is inelastic:

a) marginal revenue is zero. b) marginal revenue is negative. c) total revenue is rising. d) average revenue is rising.

1c.) The deadweight loss of monopoly is due to the fact that:

a) monopolists do not maximize profits. b) monopolists produce at the point where marginal cost intersects the demand curve. c) monopolists restrict output in order to raise price. d) monopolists do not produce at the minimum point of the marginal cost curve.

1d.). Which of the following is an essential condition for a firm to be a natural monopoly? a) The control of a key input b) A downward sloping long-run average cost curve c) The government granting the firm a monopoly d) Firms having different cost functions

1e.). When a monopolist engages in perfect price discrimination:

a) there is a higher deadweight loss compared to a single-price monopoly. b) there is a deadweight loss because the firm charges a price below marginal cost. c) there is a deadweight loss equal to the lost consumer surplus. d) there is no deadweight loss as the monopolist successfully captures the entire consumer surplus.

1f.). Which of the following is not a necessary condition for price discrimination? 1

a) The firm having some degree of monopoly power b) The monopolist producing where price is equal to marginal cost c) The ability to roughly approximate each buyer’s maximum willingness to pay for each unit of a product d) The ability to prevent arbitrage among different segments of customers

1g.). Under which of the following situations will a monopolist, practicing third-degree price discrimination, be unable to discriminate prices among its different market segments?

a) When the price elasticity of demand in all markets are the same b) When the marginal cost of production remains stable c) When the average cost of production is lower than the marginal cost of production d) When the marginal revenue from the different markets varies

1H. A firm practicing third-degree price discrimination maximizes its profits by:

a) setting the price in each market segment equal to the marginal cost of servicing that market segment. b) charging a higher price to the market segment with the majority of customers and a lower price to the market segment with relatively less number of customers. c) charging a higher price to the customers with a relatively high elasticity of demand and a lower price to those with a relatively low elasticity of demand. d) charging a higher price to the customers with a relatively low price elasticity of demand and a lower price to those with a relatively high price elasticity of demand.

1I.). Which of the following is true of block pricing?

a) The price per unit charged by the monopolist declines as more units of the quantity are purchased by a consumer. b) There is no deadweight loss under this form of price discrimination. c) It decreases the monopolist’s profit by transferring the additional producer surplus on the initial units consumed to the consumers. d) This form of price discrimination allows a monopolist to sell each unit of output for the maximum price a consumer will pay.

Question 13 (1 point)

Which of the following statement is incorrect about future & forward difference?

Question 13 options:

Question 14 (1 point)

Major advantages of futures contracts include the

Question 14 options:

1. Compared to a perfectly competitive market, a market with a monopoly firm will _____. This is because monopoly firms have _____

A) always trade a higher quantity; no need to consider consumer demand

B) have a lower quantity traded and a market product price; the ability to set prices

C)have a lower quantity traded and the same market price; no ability to set prices

D) have the same quantity traded and a lower price; no ability to increase or decrease prices

2. Marginal utility

A) tends to decline beyond some level of consumption during a given time period

B) is unrelated to total utility

C) is equal to total utility at all points of consumption

D) always increases at an increasing rate