Use SPSS for this Application Exercise:
A developmental psychologist suspects that first-born children tend to develop language skills faster than their younger siblings. An explanation for the phenomenon is that first-borns have undivided attention from their parents. As such, it is reasonable that twins and triplets have slower language development than single children. The psychologist collects measures of language skills for each child at age 3 in participating families. The data are below. What can the psychologist conclude with an α of 0.05?

a) What is the appropriate test statistic?
---Select--- na one-way ANOVA within-subjects ANOVA two-way ANOVA

b) Input the appropriate value(s) to make a decision about H₀.
p-value = ______________________ ; Decision:  ---Select--- Reject H0 Fail to reject H0

c) Using the SPSS results, compute the corresponding effect size(s) and indicate magnitude(s).
η² = ______________________________ ;  ---Select--- na trivial effect small effect medium effect large effect

d) Make an interpretation based on the results.

1) At least one family type (i.e., single, twins, or triplets) is different on language skills.

2) None of the family types (i.e., single, twins, or triplets) differed on language skills.  

Consider the three stocks in the following table. P_t represents price at time t, and Q_t represents shares outstanding at time t. Stock C splits two-for-one in the last period.

What will the index be in day 2? (Hint: stock split happens in the evening. Do not round intermediate calculations. Round your answer to 2 decimal places.)

Consider the following data for two variables, x and y.

(a)

Develop an estimated regression equation for the data of the form

ŷ = b₀ + b₁x.

(Round b₀ to one decimal place and b₁ to three decimal places.)ŷ =

−8.3+1.259x

(b)

Use the results from part (a) to test for a significant relationship between x and y. Use α = 0.05.

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

F =  

Find the p-value. (Round your answer to three decimal places.)

p-value = 0.057

Is the relationship between x and y significant?

Yes, the relationship is significant.No, the relationship is not significant.    

(c)

Develop a scatter diagram for the data.

A scatter diagram has 6 points. The horizontal axis ranges from 20 to 45 and is labeled: x. The vertical axis ranges from 0 to 45 and is labeled: y. Moving from left to right, the leftmost point is at (22, 39), with the next 5 points extending downward in a diagonal direction.

A scatter diagram has 6 points. The horizontal axis ranges from 20 to 45 and is labeled: x. The vertical axis ranges from 0 to 45 and is labeled: y. Moving from left to right, the leftmost point is at (22, 11), with the next 4 points extending upward, the first two rising more steeply than the next two. The last point goes back down.

A scatter diagram has 6 points. The horizontal axis ranges from 20 to 45 and is labeled: x. The vertical axis ranges from 0 to 45 and is labeled: y. Moving from left to right, the leftmost point is at (22, 36), with the next point extending upward. The last 4 points then continue downward in a diagonal direction.

A scatter diagram has 6 points. The horizontal axis ranges from 20 to 45 and is labeled: x. The vertical axis ranges from 0 to 45 and is labeled: y. Moving from left to right, the leftmost point is at (22, 7), with the next 4 points extending upward, the first two rising more steeply than the next two. The last point goes back down.

Does the scatter diagram suggest an estimated regression equation of the form

ŷ = b₀ + b₁x + b₂x²?

Explain.

Yes, the scatter diagram suggests that a linear relationship may be appropriate.Yes, the scatter diagram suggests that a curvilinear relationship may be appropriate.    No, the scatter diagram suggests that a curvilinear relationship may be appropriate.No, the scatter diagram suggests that a linear relationship may be appropriate.

(d)

Develop an estimated regression equation for the data of the form

ŷ = b₀ + b₁x + b₂x².

(Round b₀ to one decimal place and b₁ to two decimal places and b₂ to four decimal places.)ŷ =

Question 7

A financial lease is usually a shorter-term lease in which the lessor is responsible for insurance, taxes, and upkeep.

Select one:

True

False

Question 8

Given a tax rate of 15% for income up to $50,000, a tax rate of 25% for income between $50,001 and $75,000, and a tax rate of 34% for income between $75,001 and $100,000, and a tax rate of 39% for income above $100,001, if ABC Inc. reports taxable income of $175,000. How large is this firm's tax bill?

Select one:

a. $61,250

b. $48,750

c. $91,125

d. $51,500

e. $55,000

Question 9

Eight months ago, Turner purchased 100 shares of Delta Frames stock at a price of $46.25 a share. Delta pays a quarterly dividend of $2.10 a share. Today, Turner sold all of his shares for $49 per share. What is Turner's total capital gain on this investment?

Select one:

a. $355

b. $275

c. $155

d. $200

e. $180

Question 10

Watson's Automotive has a $375,000 bond issue outstanding that is selling at 85 percent of face value. Watson's also has 21,000 shares of common stock outstanding with a market price of $21 a share. What is the weight of the debt as it relates to the firm's weighted average cost of capital?

Select one:

a. 48 percent

b. 44 percent

c. 42 percent

d. 40 percent

e. 41 percent

The Personnel Department at Hernandez Bros. is centralized and provides services to the two operating units: Miami and New York. The Miami unit is the original unit of the company and is well established. The New York unit is new, much like a start-up company. The costs of the Personnel Department are allocated to each unit based on the number of employees in order to determine unit profitability. The current rate is $560 per employee. Data for the fiscal year just ended show the following.

Miami New York

Number of employees 1,260 360

Number of new hires 16 26

Number of employees departing 14 24

Orlando, the manager of the New York unit, is unhappy with the results of the controller’s study. He asks the controller to develop separate rates for fixed and variable costs in the Personnel Department. The controller reports back to Orlando that the rates would be as follows:

Allocation based on Variable Rate Fixed Rate Total Rate

Employees $ 80 per employee $ 180 per employee $ 260 per employee

Transitions $ 2,060 per transition $ 4,015 per transition $ 6,075 per transition

Required: a. Orlando argues that New York should only be allocated the variable costs from this system, because the company would have to pay the fixed costs even if New York did not exist. Compute the cost allocated to each unit using the approach Orlando prefers.

2.

Upriver Parts manufactures two products, V-1 and V-2, at its River Plant. Selected data for an average month for the two products follow.

Production at the plant is automated and any labor cost is included in overhead. Data on manufacturing overhead at the plant follow.

Required:

a. Compute the unit costs for the two products V-1 and V-2 using the current costing system at Upriver (using machine hours as the allocation basis). (Do not round intermediate calculations. Round your answers to 2 decimal places.)
b. Compute the unit costs for the two products V-1 and V-2 using the proposed ABC system at Upriver.

1. Gambling losses. Khanh played poker four times during the year. She had two winning sessions, winning $4,700 in one and $3,500 in the other. She had two losing sessions, losing $7,200 in one and $2,600 in the other. How much is the itemized deduction for gambling losses that Khanh can claim?

2. Legal damages. Daomei suffered a serious infection and lost a leg as a result of medical malpractice. Daomei sued the hospital where she was treated. She won the case and was awarded the following amounts as damages: $14,000 for medical expenses, $30,000 for emotional distress resulting from the injuries and $80,000 as punitive damages. How much gross income must Daomei recognize?

1. The resistance of a very fine aluminum wire with a 10 μm × 10 μm square cross section is 1200 Ω . A 1200 Ω resistor is made by wrapping this wire in a spiral around a 3.4-mm-diameter glass core.

Part A: How many turns of wire are needed? Express your answer using two significant figures.

2.The starter motor of a car engine draws a current of 180 A from the battery. The copper wire to the motor is 5.40 mm in diameter and 1.2 m long. The starter motor runs for 0.680 s until the car engine starts.

Part A: How much charge passes through the starter motor? Express your answer with the appropriate units.

Part B: How far does an electron travel along the wire while the starter motor is on? Express your answer with the appropriate units.

3. A capacitor is discharged through a 100 Ω resistor. The discharge current decreases to 29.0% of its initial value in 3.00 ms . What is the value of the capacitor? Express your answer with the appropriate units.

Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban. The cost of the Suburban is $8,800. The vehicle is purchased in late June and will be put into use on July 1, 2019. Annual insurance from GEICO runs $1,400 per year. The paint is starting to fade, so they spend an extra $2,200 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $1,200 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. They expect to use the Suburban for five years and then sell the vehicle for $3,700.

1. Determine the amount that should be recorded for the new vehicle.

2. Prepare a depreciation schedule using the straight-line method.

3. Record the sale of the vehicle two years later on July 1, 2021, for $7,600. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

  Record the sale of equipment.

Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban. The cost of the Suburban is $8,800. The vehicle is purchased in late June and will be put into use on July 1, 2019. Annual insurance from GEICO runs $1,400 per year. The paint is starting to fade, so they spend an extra $2,200 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $1,200 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. They expect to use the Suburban for five years and then sell the vehicle for $3,700.

1. Determine the amount that should be recorded for the new vehicle.

2. Prepare a depreciation schedule using the straight-line method.

3. Record the sale of the vehicle two years later on July 1, 2021, for $7,600. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

  Record the sale of equipment.