Journal Article Type/Real world application of statistics: Instead of using a journal article this time, I’m going to give you an explanation of a research project and questions. You will then answer them based on the information you have been given.

Research case scenario: The research is examining the difference in Organizational Commitment scores in US Millennials who were involved in extracurricular sports and those who were not during adolescence. The purpose of this research is to identify whether or not identity-seeking behaviors during adolescence transfers to adulthood-working behaviors in Millennials. The sample consisted of 233 U.S. full-time working, college-educated, Millennials from Amazon’s MTurk. The results found there was a statistically significant difference in organizational commitment between groups (t = 2.13, p < .05).

9. What was the population used in this sample?
10. What was the sample?
11. What is the purpose of this study?
12. What statistical test was used in this study?

Early in 2018 Johnson Company was acquired by a new owner who discovered errors in the accounting records. The new owner would like you to analyze the error described and then determine the impact the accounting items listed. Each error should be analyzed separately. Be Sure to indicate the dollar amount or not the error caused the items to be overstated (OS) or Understated (US) or No Effect.

Vacation pay earned in 2017 of 31100 was not accrued in 2017. The vacation pay occurred in 2018 and expensed when paid.

Analysis:

Net Income for the period ending 12/31/2017__________________

Retained Earnings as of 12/31/2017__________________

Working Capital as of 12/31/2017_______________

Net Income for the period ending 12/31/2018________________

Retained Earnings as of 12/31/2018________________________

December 31, 2017 ending inventory was overstated by 50,000

Analysis:

Net Income for the period ending 12/31/2017 _______________

Retained Earnings as of 12/31/2017__________________

Working Capital as of 12/31/2017_________________

Net Income for the period ending 12/31/2018__________________

Retained Earnings as of 12/31/2018_________________

3.At the beginning of 2017 a machine was purchased for total cost of $50,000. The Machine had no salvage value and had a life of 15 years. The bookkeeper accidentally expensed the entire cost of the machine in 2017. Johnson company normally uses straight line depreciation.

                Analysis:

Net Income for the period ending 12/31/2017____________________________

Retained Earnings as of 12/31/2017_____________________

Working Capital as of 12/31/2017_____________________

Net Income for the period ending 12/31/2018_____________________

Retained Earnings as of 12/31/2018_______________________

4.At the end of 2017. $30,000 of cash collected in advance for future services was included is Service revenue for the period ending 12/31/2017. The services will be performed equally in 2018 and 2019.

Net Income for the period ending 12/31/2017____________________________

Retained Earnings as of 12/31/2017_____________________

Working Capital as of 12/31/2017_____________________

Net Income for the period ending 12/31/2018_____________________

Retained Earnings as of 12/31/2018_______________________

A. A company produces steel rods. The lengths of the steel rods are normally distributed with a mean of 162.4-cm and a standard deviation of 0.6-cm. For shipment, 16 steel rods are bundled together.
Find the probability that the average length of a randomly selected bundle of steel rods is less than 162.6-cm.
P(¯xx¯ < 162.6-cm) =

B. A company produces steel rods. The lengths of the steel rods are normally distributed with a mean of 246.8-cm and a standard deviation of 1.1-cm. For shipment, 24 steel rods are bundled together.
Find the probability that the average length of a randomly selected bundle of steel rods is greater than 247.3-cm.
P(¯xx¯ > 247.3-cm) =

C. Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 149000 dollars. Assume the standard deviation is 39000 dollars. Suppose you take a simple random sample of 77 graduates.
Do not use probability tables to find the probabilities below as they may not be accurate enough.
Find the probability that a single randomly selected salary is at least 144000 dollars.
P(X > 144000) =
Find the probability that a sample of size n=77n=77 is randomly selected with a mean that is at least 144000 dollars.
P(¯xx¯ > 144000) =

6. The following behaviors are grounds for dismissal EXCEPT:

1. Unsatisfactory performance and misconduct
2. Becoming pregnant within one year of employment on the job
3. Lack of qualification for the job
4. Change of requirements or elimination of the job

7. How does merit pay differ from bonus?

1. Merit pay becomes part of an employee’s base pay, but bonus is not
2. A bonus becomes part of an employee’s base pay, but merit pay is not
3. A bonus is linked to individual performance, while merit pay is linked to company performance
4. A merit pay is linked to individual performance, while bonus pay is linked to company’s performance

8. Which of the following accurately describes the relevant date in relation to dismissal of an employee with notice given by his/her employer?

1. The date on which that notice termination expires, regardless of where it falls on the calendar
2. The date on which the termination expires, once it does not fall on a public holiday
3. The date on which the employees approved vacation expires
4. One week prior to the effective date of dismissal

9. What type of gain sharing plan uses the formula: net sales minus cost of materials supplies all divided by the total payroll expenses to determine employee bonuses?

1. Lincoln
2. Rucker
3. Improshare
4. Scanlon

10. Gain sharing is an incentive plan that:

1. uses a trust to hold stock in individual employee accounts and distributes it to employees upon retirement
2. engages many or all employees in a common effort to achieve a company’s productivity objectives, with any resulting cost-savings gains shared among employees and the company
3. contributes company’s shares of its own stock or cash to be used to purchase company stock to a trust established to purchase shares of the firm’s stock for employees
4. provides tax advantages for employees by deferring income taxes, often until employee retires.

Which one of the following is a cash outflow in cash budgeting?

Interest earned

Interest paid

Proceeds from fixed asset sales

Proceeds from stock sales

Apple Company purchased 42% of Orange Company's common stock for $418,000 on January 1, 2021. During 2021, Orange Company reported a net income of $79,000 and paid dividends totaling $13,000. For 2022, Orange Company paid dividends totaling $21,000. On December 31, 2022, Apple Company sold three-fourths of its investment in Orange Company for $319,625 cash. Apple Company reported a loss on the sale equal to $12,460. What is the amount of net income earned by Orange Company in 2022?

Find an article on a company that has experienced financial fraud. What are some of the key points of the article? What did you learn after reading this article?

Explain to us what the company should have done differently. Be sure to reference the website and the company

BP (British Petroleum) faced in 2010 a deep crisis as result of an accident -the worst environmental disaster in the United Stated up to date- in one of the prospection owned by the company. 11 people died, the equivalent to 4.9 million barrels were discharged in the Gulf of Mexico with devastating consequence to the marine life and $42.2 billion were claimed up to 2013 as civil liabilities.

Read the article “BP oil spill: Five years after 'worst environmental disaster' in US history, how bad was it really?”(http://www.telegraph.co.uk/news/worldnews/northamerica/usa/11546654/BP-oil-spill-Five-years-after-worst-environmental-disaster-in-US-history-how-bad-was-it-really.html) and answer the following questions:

Do you think that BP could have managed the crisis more effectively? Why or why not?

Could the reputational damage suffered by the company been avoided by a better/more adequate response?

Do you recall when the crisis was happening? What do you recall hearing about it from the media? Was the company doing enough to respond to the public at the time the crisis was happening?

1. 1. While many argue that sweatshops must be shut down at all costs, many have argued that the employees would be far worse off without the work. Banning Sweatshops Only Hurts the Poor and share your thoughts. Should sweatshops exist? Please be detailed in your post, using knowledge from our lecture and the article.  

2.Planet Money makes a T-Shirt which takes the simple t-shirt around the world. Jasmine, the worker from Bangladesh who is featured in the film, stresses that although she is working for low wages under poor conditions, she hopes this work remains. She tells us that the garment industry in Bangladesh is crucial to the workers' financial survival.

You are the head of the International Labor Organization. (ILO) What do you do?

Using the data from the previous question on LDL cholesterol, you decide to test if the variance in LDL cholesterol of patients admitted to the hospital with a heart attack is the same as that of those who have not (the control). You use the R function var.test and obtain the following output.

   F test to compare two variances

data:  ldl.ha and ldl.cont

F = 7.683, num df = 9, denom df = 15,
   p-value = 0.0006501

alternative hypothesis: true ratio of
variances is not equal to 1

95 percent confidence interval:

2.460444 28.960945

sample estimates:

ratio of variances

          7.683258

What is your decision and conclusion (with respect to variation in LDL cholesterol levels) from the above R test output assuming an alpha level of 0.05? AND how does this help us beyond this test of the variance?