Consider the natural log transformation (“ln” transformation) of variables labour cost (L_COST), and total number of rooms per hotel (Total_Rooms). 4.1 Use the least squares method to estimate the regression coefficients b0 and b1 for the log-linear model 4.2 State the regression equation 4.3 Give the interpretation of the regression coefficient b1. 4.4 Give an interpretation of the coefficient of determination R2 . Also, test the significance of your model using the F-test. How, does the value of the coefficient of determination affect the outcome of the above test? 4.5 Test whether a 1% increase of the total number of rooms per hotel can increase the labour cost by more than 0.20%? Use the 5% level of significance for this test.

L_COST   Total_Rooms     
2.165.000   412     
2.214.985   313     
1.393.550   265     
2.460.634   204     
1.151.600   172     
801.469   133     
1.072.000   127     
1.608.013   322     
793.009   241     
1.383.854   172     
494.566   121     
437.684   70     
83.000   65     
626.000   93     
37.735   75     
256.658   69     
230.000   66     
200.000   54     
199.000   68     
11.720   57     
59.200   38     
130.000   27     
255.020   47     
3.500   32     
20.906   27     
284.569   48     
107.447   39     
64.702   35     
6.500   23     
156.316   25     
15.950   10     
722.069   18     
6.121   17     
30.000   29     
5.700   21     
50.237   23     
19.670   15     
7.888   8     
3.500   15     
112.181   18     
30.000   10     
3.575   26     
2.074.000   306     
1.312.601   240     
434.237   330     
495.000   139     
1.511.457   353     
1.800.000   324     
2.050.000   276     
623.117   221     
796.026   200     
360.000   117     
538.848   170     
568.536   122     
300.000   57     
249.205   62     
150.000   98     
220.000   75     
50.302   62     
517.729   50     
51.000   27     
75.704   44     
271.724   33     
118.049   25     
40.000   30     
10.000   10     
10.000   18     
70.000   73     
12.000   21     
20.000   22     
36.277   25     
36.277   25     
10.450   31     
14.300   16     
4.296   15     
379.498   16     
1.520   22     
45.000   12     
96.619   34     
270.000   37     
60.000   25     
12.500   10     
1.934.820   270     
3.000.000   261     
1.675.995   219     
903.000   280     
2.429.367   378     
1.143.850   181     
900.000   166     
600.000   119     
2.500.000   174     
1.103.939   124     
363.825   112     
1.538.000   227     
1.370.968   161     
1.339.903   216     
173.481   102     
210.000   96     
441.737   97     
96.000   56     
177.833   72     
252.390   62     
377.182   78     
111.000   74     
238.000   33     
45.000   30     
50.000   39     
40.000   32     
61.766   25     
166.903   41     
116.056   24     
41.000   49     
195.821   43     
96.713   20     
6.500   32     
5.500   14     
4.000   14     
15.000   13     
9.500   13     
48.200   53     
3.000   11     
27.084   16     
30.000   21     
20.000   21     
43.549   46     
10.000   21     

Statement of Cash Flows—Indirect Method

The comparative balance sheet of Tru-Built Construction Inc. for December 31, 2016 and 2015, is as follows:

The following additional information is taken from the records:

Land was sold for $53.

Equipment was acquired for cash.

There were no disposals of equipment during the year.

The common stock was issued for cash.

There was a $138 credit to Retained Earnings for net income.

There was a $42 debit to Retained Earnings for cash dividends declared.

a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Almost all U.S. light-rail systems use electric cars that run on tracks built at street level. The Federal Transit Administration claims light-rail is one of the safest modes of travel, with an accident rate of .99 accidents per million passenger miles as compared to 2.29 for buses. The following data show the miles of track and the weekday ridership in thousands of passengers for six light-rail systems.

1. Use these data to develop an estimated regression equation that could be used to predict the ridership given the miles of track.
   
   Compute b₀ and b₁ (to 2 decimals).
   b₁  
   b₀  
   
   Complete the estimated regression equation (to 2 decimals).
   =  +  x
   
2. Compute the following (to 1 decimal):

   SSE
   SST
   SSR
   MSE

   
   
3. What is the coefficient of determination (to 3 decimals)? Note: report r² between 0 and 1.
   
   
   Does the estimated regression equation provide a good fit?
   SelectYes, it even provides an excellent fitYes, it provides a good fitNo, it does not provide a good fitItem 10
   
4. Develop a 95% confidence interval for the mean weekday ridership for all light-rail systems with 30 miles of track (to 1 decimal).
   (  ,  )
   
5. Suppose that Charlotte is considering construction of a light-rail system with 30 miles of track. Develop a 95% prediction interval for the weekday ridership for the Charlotte system (to 1 decimal).
   (  ,  )
   
   Do you think that the prediction interval you developed would be of value to Charlotte planners in anticipating the number of weekday riders for their new light-rail system?
   SelectYes, because this interval has high accuracyYes, because this interval has high confidenceYes, because this interval has both high accuracy and high confidenceNo, because this interval is too wideNo, because this interval has low confidence

Almost all U.S. light-rail systems use electric cars that run on tracks built at street level. The Federal Transit Administration claims light-rail is one of the safest modes of travel, with an accident rate of .99 accidents per million passenger miles as compared to 2.29 for buses. The following data show the miles of track and the weekday ridership in thousands of passengers for six light-rail systems.

1. Use these data to develop an estimated regression equation that could be used to predict the ridership given the miles of track.
   
   Compute b₀ and b₁ (to 2 decimals).
   b₁ =
   b₀ =
   
   Complete the estimated regression equation (to 2 decimals).
   
   
2. Compute the following (to 1 decimal):

   SSE	=
   SST	=
   SSR	=
   MSE	=

   
   
3. What is the coefficient of determination (to 3 decimals)? Note: report r² between 0 and 1.
   
   
   Does the estimated regression equation provide a good fit?
   SelectYes, it even provides an excellent fitYes, it provides a good fitNo, it does not provide a good fitItem 10
   
4. Develop a 95% confidence interval for the mean weekday ridership for all light-rail systems with 30 miles of track (to 1 decimal).
   (  ,  )
   
5. Suppose that Charlotte is considering construction of a light-rail system with 30 miles of track. Develop a 95% prediction interval for the weekday ridership for the Charlotte system (to 1 decimal).
   (  ,  )
   
   Do you think that the prediction interval you developed would be of value to Charlotte planners in anticipating the number of weekday riders for their new light-rail system?
   SelectYes, because this interval has high accuracyYes, because this interval has high confidenceYes, because this interval has both high accuracy and high confidenceNo, because this interval is too wideNo, because this interval has low confidenceItem 15

Almost all U.S. light-rail systems use electric cars that run on tracks built at street level. The Federal Transit Administration claims light-rail is one of the safest modes of travel, with an accident rate of .99 accidents per million passenger miles as compared to 2.29 for buses. The following data show the miles of track and the weekday ridership in thousands of passengers for six light-rail systems.

1. Use these data to develop an estimated regression equation that could be used to predict the ridership given the miles of track.
   
   Compute b₀ and b₁ (to 2 decimals).
   b₁   
   b₀   
   
   Complete the estimated regression equation (to 2 decimals).
   =   +  x
   
2. Compute the following (to 1 decimal):

   SSE
   SST
   SSR
   MSE

   
   
3. What is the coefficient of determination (to 3 decimals)? Note: report r² between 0 and 1.
     
   
   Does the estimated regression equation provide a good fit?
   SelectYes, it even provides an excellent fitYes, it provides a good fitNo, it does not provide a good fitItem 10  
   
4. Develop a 95% confidence interval for the mean weekday ridership for all light-rail systems with 30 miles of track (to 1 decimal).
   (  ,   )
   
5. Suppose that Charlotte is considering construction of a light-rail system with 30 miles of track. Develop a 95% prediction interval for the weekday ridership for the Charlotte system (to 1 decimal).
   (  ,   )
   
   

• Three types of physical environment (unaltered, altered, built)
• Goal of environmental health
• Love Canal
• Silent Spring
• Differences between a risk assessment and a public health assessment (which measures theoretical risk, which measures actual risk, which is broader in scope, which takes place over a shorter period of time)
• Ecological risk assessment
• What does the FDA regulate (Dr. Miller)
• Dietary supplements regulated as what? (Dr. Miller)
• Reason for items such as toothpaste and dandruff shampoo to be included as drug products (Dr. Miller)
• Food and drug administration’s control over drug prices (Dr. Miller)
• Off-label prescribing (Dr. Miller)
• Health law and the U.S. Constitution
• Interstate Commerce Clause and public health
• Compare and contrast the two philosophies toward the role of government affecting health policies (Market Justice vs. Social Justice)
• No duty principle
• Nuremburg Code
• Tuskegee study
• Belmont Report
• Internal Review Boards
• Systems thinking and reductionist thinking
• Systems analysis and systems diagrams
• One Health – what is it and be able to identify examples
• Climate change implications
• How a bill becomes a law
• Federalism
• Affordable Care Act features
• Policy Windows – 3 streams

Almost all U.S. light-rail systems use electric cars that run on tracks built at street level. The Federal Transit Administration claims light-rail is one of the safest modes of travel, with an accident rate of .99 accidents per million passenger miles as compared to 2.29 for buses. The following data show the miles of track and the weekday ridership in thousands of passengers for six light-rail systems.

1. Use these data to develop an estimated regression equation that could be used to predict the ridership given the miles of track.
   
   Compute b₀ and b₁ (to 2 decimals).
   b₁  
   b₀  
   
   Complete the estimated regression equation (to 2 decimals).
   y =  +  x
   
2. Compute the following (to 1 decimal):

   SSE
   SST
   SSR
   MSE

   
   
3. What is the coefficient of determination (to 3 decimals)? Note: report r² between 0 and 1.
   
   
   Does the estimated regression equation provide a good fit?
   SelectYes, it even provides an excellent fitYes, it provides a good fitNo, it does not provide a good fitItem 10
   
4. Develop a 95% confidence interval for the mean weekday ridership for all light-rail systems with 30 miles of track (to 1 decimal).
   (  ,  )
   
5. Suppose that Charlotte is considering construction of a light-rail system with 30 miles of track. Develop a 95% prediction interval for the weekday ridership for the Charlotte system (to 1 decimal).
   (  ,  )
   
   Do you think that the prediction interval you developed would be of value to Charlotte planners in anticipating the number of weekday riders for their new light-rail system?

QUESTION 15:

Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow:

Sales are 30% cash and 70% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,800 in accounts receivable; $5,300 in accounts payable; and a $5,800 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($4,800 per month), and rent ($7,300 per month).

PART 1:  Prepare a cash receipts budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Enter your final answers in whole dollars.)

PART 2: ) Prepare a cash budget for each of the months of July, August, and September.

. Wal-Mart’s Foreign Expansion Wal-Mart, the world’s largest retailer, has built its success on a strategy of everyday low prices, and highly efficient operations, logistics, and information systems that keeps inventory to a minimum and ensures against both overstocking and understocking. The company employs some 2.1 million people, operates 4,200 stores in the United States and 3,600 in the rest of the world, and generates sales of almost $400 billion (as of fiscal 2008). Approximately $91 billion of these sales were generated in 15 nations outside of the United States. Facing a slowdown in growth in the United States, Wal-Mart began its international expansion in the early 1990s when it entered Mexico, teaming up in a joint venture with Cifra, Mexico’s largest retailer, to open a series of supercenters that sell both groceries and general merchandise. Initially the retailer hit some headwinds in Mexico. It quickly discovered that shopping habits were different. Most people preferred to buy fresh produce at local stores, particularly items like meat, tortillas and pan dulce which didn’t keep well overnight (many Mexicans lacked large refrigerators). Many consumers also lacked cars, and did not buy in large volumes as consumers in the United States did. WalMart adjusted its strategy to meet the local conditions, hiring local managers who understood Mexican culture, letting those managers control merchandising strategy, building smaller stores that people could walk to, and offering more fresh produce. At the same time, the company believed that it could gradually change the shopping culture in Mexico, educating consumers by showing them the benefits of its American merchandising culture. After all, Wal-Mart’s managers reasoned, people once shopped at small stores in the United States, but starting in the 1950s they increasingly gravitated towards large stores like WalMart. As it built up its distribution systems in Mexico, Wal-Mart was able to lower its own costs, and it passed these on to Mexican consumers in the form of lower prices. The customization, persistence, and low prices paid off. Mexicans started to change their shopping habits. Today Wal-Mart is Mexico’s largest retailer and the country is widely considered to be the company’s most successful foreign venture. Next Wal-Mart expanded into a number of developed nations, including Britain, Germany and South Korea. There its experiences have been less successful. In all three countries it found itself going head to head against well-established local rivals who had nicely matched their offerings to local shopping habits and consumer preferences. Moreover, consumers in all three countries seemed to have a preference for higher quality merchandise and were not as attracted to Wal-Mart’s discount strategy as consumers in the United States and Mexico. After years of losses, Wal-Mart pulled out of Germany and South Korea in 2006. At the same time, it continued to look for retailing opportunities elsewhere, particularly in developing nations where it lacked strong local competitors, where it could gradually alter the shopping culture to its advantage, and where its low price strategy was appealing. Recently, the centerpiece of its international expansion efforts has been China. Wal-Mart opened its first store in China in 1996, but initially expanded very slowly, and by 2006 had only 66 stores. What Wal-Mart discovered, however, was that the Chinese were bargain hunters, and open to the low price strategy and wide selection offered at Wal-Mart stores. Indeed, in terms of their shopping habits, the emerging Chinese middle class seemed more like Americans than Europeans. But to succeed in China, Wal-Mart also found it had to adapt its merchandising and operations strategy to mesh with Chinese culture. One of the things that Wal-Mart has learned is that Chinese consumers insist that food must be freshly harvested, or even killed in front of them. Wal-Mart initially offended Chinese consumers by trying to sell them dead fish, as well as meat packed in Styrofoam and cellophane. Shoppers turned their noses up at what they saw as old merchandise. So Wal-Mart began to display the meat uncovered, installed fish tanks into which shoppers could plunge fishing nets to pull out their evening meal, and began selling live turtles for turtle soup. Sales soared. Wal-Mart has also learned that in China, success requires it to embrace unions. Whereas in the United States Wal-Mart has vigorously resisted unionization, it came to the realization that in China unions don’t bargain for labor contracts. Instead, they are an arm of the state, providing funding for the Communist Party and (in the government’s view) securing social order. In mid- 2006 Wal-Mart broke with its long standing antagonism to unions and agreed to allow unions in its Chinese stores. Many believe this set the stage for Wal-Mart’s most recent move, the purchase in December 2006 of a 35 percent stake in the Trust-Mart chain, which has 101 hypermarkets in 34 cities across China. Now Wal-Mart has proclaimed that China lies at the center of its growth strategy. By early 2009 Wal-Mart had some 243 stores in the country, and despite the global economic slowdown, the company insists that it will continue to open new stores in China at a “double digit rate.”

Case Discussion Questions

1. Do you think Wal-Mart could translate its merchandising strategy wholesale to another country and succeed? If not, why not?

2. Why do you think Wal-Mart was successful in Mexico?

3. Why do you think Wal-Mart failed in South Korea and Germany? What are the differences between these countries and Mexico?

4. What must Wal-Mart do to succeed in China? Is it on track?

Almost all U.S. light-rail systems use electric cars that run on tracks built at street level. The Federal Transit Administration claims light-rail is one of the safest modes of travel, with an accident rate of .99 accidents per million passenger miles as compared to 2.29 for buses. The following data show the miles of track and the weekday ridership in thousands of passengers for six light-rail systems.

1. Use these data to develop an estimated regression equation that could be used to predict the ridership given the miles of track.
   
   Compute b₀ and b₁ (to 2 decimals).
   b₁   
   b₀   
   
   Complete the estimated regression equation (to 2 decimals).
   =   +  x
   
2. Compute the following (to 1 decimal):

   SSE
   SST
   SSR
   MSE

   
   
3. What is the coefficient of determination (to 3 decimals)? Note: report r² between 0 and 1.
     
   
   Does the estimated regression equation provide a good fit?
   SelectYes, it even provides an excellent fitYes, it provides a good fitNo, it does not provide a good fitItem 10  
   
4. Develop a 95% confidence interval for the mean weekday ridership for all light-rail systems with 30 miles of track (to 1 decimal).
   (  ,   )
   
5. Suppose that Charlotte is considering construction of a light-rail system with 30 miles of track. Develop a 95% prediction interval for the weekday ridership for the Charlotte system (to 1 decimal).
   (  ,   )