Questions
1. What government agency measures US GDP? 2. Who wrote The General Theory of Employment, Interest and Money?

 1. What government agency measures US GDP?

 2. Who wrote The General Theory of Employment, Interest and Money?

 3. Variables measured at a point in time are called what?

 4. Which is the most volatile of the 4 expenditure components of US GDP?

 5. For the US, which is the smallest of the 4 expenditure components?

 6. What are the two main endogenous variables in the IS-LM model?

 7. If the MPS is .25 find the simple expenditure multiplier.

 8. If the simple multiplier is 2 in size, find the MPC.

 9. What is a good synonym for investment spending?

 10. What are the two phases of a business cycle?


In: Economics

Medicare spending per patient in different U.S. metropolitan areas may differ. Based on the sample data...

Medicare spending per patient in different U.S. metropolitan areas may differ. Based on the sample data below, answer the questions that follow to determine whether the average spending in the northern region is significantly less than the average spending in the southern region at the 1 percent level.
   

Medicare Spending per Patient (adjusted for age, sex, and race)
Statistic Northern Region Southern Region
Sample mean $ 3,123 $ 8,456
Sample standard deviation $ 1,546 $ 3,678
Sample size 14 patients 16 patients

In: Statistics and Probability

Consider a hypothetical economy with autonomous consumption spending equal to 100 billion dollars, a marginal propensity to consume of 0.8

 

Consider a hypothetical economy with autonomous consumption spending equal to 100 billion dollars, a marginal propensity to consume of 0.8, private investment spending of 160 billion dollars, government spending of 140 billion dollars, a balanced budget, and balanced trade (i.e. exports and imports are equal). Write a short essay comparing the effects (1) on the government budget and (2) on the equilibrium level of income in the economy of (i) a 5 billion dollar increase in government spending and of (ii) a 5 billion dollar decrease in net taxes.

In: Economics

Pizza Hut is facing stiff competition in it pizza delivery service, and you are the owner...

Pizza Hut is facing stiff competition in it pizza delivery service, and you are the owner who is particularly concerned about being able to provide call-in customers with a guarantee as to how quickly their pizza would arrive. You have collected a month’s worth of data that included travel time (y)/ minute and delivery distance (x)/miles. You want to know if you can use delivery distance to predict travel time. You run regression on excel, and get the following output. Answer questions following the output.

1). Using the knowledge you learned from Chapter 3 to summarize Travel time and Delivery distance. What is the characteristics of this sample?

2). Determine the least-squares regression equation for travel time as a function of distance. Interpret the slope.

3). What percentage of the variation in travel time(y) is explained by the delivery distance (x)?

4). Do hypothesis testing to test the significance of slope and follow the 4-step. What does it tell you about the relationship between pizza delivery distance and travel time? (α=0.05)

5. what is the 95% confidence interval for slope? How does it tell you about the significance of the slope? Does this conclusion agree with the conclusion from 4)?

6).What would be the estimated time of travel for a pizza delivery that involved 5-miles? Interpret the result.

7). Calculate the prediction interval for the individual travel time given a pizza delivery distance is 5 miles (Show your calculation details in Excel). Interpret the results. (α=0.05)

8). Calculate the confidence interval for the mean of travel time given a pizza delivery distance is 5 miles (Show your calculation details in Excel). Interpret the results. (α=0.05)

9). Comparing results from 7) and 8), which one is wider? Why?

10). Calculate SSR, SSE and SST for this model.

Travel_Time
6.02
5.47
8.99
7.98
9.01
10.86
6.31
7.87
12.47
7.58
10.65
7.83
6.75
9.59
6.99
8.94
8.38
5.62
5.67
9.18
5.04
8.16
6.81
3.71
6.44
7.98
5.85
4.72
7
8.52
8.48
6.61
8.98
7.93
10.31
4.86
8.9
8.78
6.27
8.83
7.54
10.49
8.33
7.76
8.88
7.17
8.98
7.06
9.86
5.71
7.12
6.08
7.91
6.05
5.91
7.53
6.31
7.37
4.27
7.87
7.11
7.28
9.83
6.28
5.83
5.5
8.89
7.08
5.57
7.83
7.74
11.29
8.72
6.31
9.69
10.02
11.41
5.87
6.64
9.65
10.88
6.43
6.71
4.12
8.88
5.86
10.74
5.83
8.25
6.93
7.81
9.33
6.04
5.6
7.04
9.41
10.93
8.14
6.46
7.79
7.06
4.27
8.87
10.19
8.14
7.91
8.28
4.85
8.02
9.36
8.52
7.35
7.59
8.33
11.22
5.97
8.28
6.63
9.56
6.7
5.83
6.02
6.47
8.16
6.55
7.17
8.62
8.81
9.62
9.39
4.88
9.21
5.18
9.17
7.78
10.49
4.91
8.54
4.07
5.88
7.09
5.8
7.03
7.94
8.45
6.59
10.75
8.68
6.05
8.3
8.53
5.96
8.2
5.67
8.85
9.02
6.65
10.36
7.9
8.51
7.73
9.24
9.91
5.85
4.68
8.47
9.02
10.57
10.71
3.52
10.56
5.09
8.47
6.81
10.84
6.47
7.33
8.82
9.34
8.24
7.54
9.43
11.21
10.67
7.7
6.37
8.14
8.22
9.41
6.62
4.83
6.55
3.12
7.19
9.39
6.9
8.29
11.85
8.83
3.92
12.25
9.9
8.68
8.97
9.56
8.65
10.49
6.87
4.86
11.14
8.76
9.41
3.93
9.98
6.32
9.4
6.54
8.45
5.3
6.96
6.88
8.22
8.06
12.55
9
8.25
12.58
9.63
10.42
7.69
7.88
7.43
6.56
4.72
8.58
8.83
7.65
12.43
6.09
7.79

  

Distance
2.5
3.3
4.9
3.8
4.9
5.3
2.9
3.5
6.4
3.5
5.1
3.7
3.6
5.2
3.4
4.8
3.7
2.4
3.1
4.4
2.2
3.8
3.5
1.7
2.5
4.1
2
1.9
3.6
3.6
3.9
3.3
4.4
3.9
4.8
2.1
4.7
4.6
3.3
3.7
3.6
5.8
4.2
3.6
4
4
4.4
3.8
4.9
2.8
4
3.1
4
3.3
2.7
4.1
3.3
3.9
2.1
4.4
3.8
3.5
4.8
2.9
3
2.9
4.3
3.8
2.8
4.4
3.4
5.3
3.9
3.5
4.9
4.9
5.7
2.9
3.2
5.2
5
3.2
2.9
2.2
4.6
2.7
6.1
2.4
3.4
3.8
3.9
5
3.2
3
3.2
4.9
5.1
4.1
3.2
3.9
3.1
2.3
4.5
4.9
4.8
4.5
4.7
2.5
3.7
5.6
3.8
2.7
4
3.8
5.9
2.6
4.2
3
4.9
3.8
2.6
3
2.6
4.3
3.9
3.4
4.3
4.2
4.6
4.6
2.5
4.7
2
4.7
4.3
5.1
2.4
4.3
1.2
3.7
3.5
2.6
3.4
3.9
4
2.8
5.4
3.6
3
4.2
3.7
2.7
3.2
3.2
4.6
4.5
3.5
5.1
4.4
4.3
4.1
4.3
5.1
2.4
3.1
4.6
4.9
5.2
5.2
1.9
5.8
2.7
4.2
3.4
5.5
3.4
3.5
4.6
4.3
3.9
4.1
5.2
5.5
5.9
3.7
2.8
3.7
3.8
4
3.1
3
3.2
1.7
3.3
5
2.9
3.7
5.8
4.6
2.3
5.5
5.3
4.1
4
4.7
4.6
5.3
3
2.5
6.1
4.6
4.4
2.5
4.2
3.3
4.5
3.3
4.2
2.5
3.6
2.9
4.7
4.1
6.4
4.7
4.1
6.4
5
5
3.8
4
3.6
3.1
2.9
4.9
5.1
4
5.4
2.7
4

In: Statistics and Probability

Write a C program that does the following: 1) Asks the user to enter an integer...

Write a C program that does the following:
1) Asks the user to enter an integer N
2) Asks the user to enter three words with at least N letters and at most 20 letters
3) Prints the first N letters from the first word
4) Prints the last N letters from the second word
5) Prints all letters in the odd position in the third word

Output:
Please enter an integer N: 3
Please enter a word with at least 3 and at most 20 letters: Germany
Please enter a second word with at least 3 and at most 20 letters: China
Please enter a third word with at least 3 and at most 20 letters: Argentina
Germany starts with Ger
China ends with ina
Odd letters in the third word are: A g n i a

In: Computer Science

Digital Life Electronics Co

You have been asked to investigate some cost problems in the Assembly Department of Digital Life Electronics Co., a consumer electronics company. To begin your investigation, you have obtained the following budget performance report for the department for the last quarter:

You have been asked to investigate some cost problems in the

 

The following reports were also obtained:

You have been asked to investigate some cost problems in the

 

You also interviewed the Assembly Department supervisor. Excerpts from the interview follow.
Q: What explains the poor performance in your department?
A: Listen, you€™ve got to understand what it€™s been like in this department recently. Lately, it seems no matter how hard we try, we can€™t seem to make the standards. I€™m not sure what is going on, but we€™ve been having a lot of problems lately.
Q: What kind of problems?
A: Well, for instance, all this quarter we€™ve been requisitioning purchased parts from the material storeroom, and the parts just didn€™t fit together very well. I€™m not sure what is going on, but during most of this quarter we€™ve had to scrap and sort purchased parts€”just to get our assemblies put together. Naturally, all this takes time and material. And that€™s not all.
Q: Go on.
A: All this quarter, the work that we€™ve been receiving from the Fabrication Department has been shoddy. I mean, maybe around 20% of the stuff that comes in from Fabrication just can€™t be assembled.
The fabrication is all wrong. As a result, we€™ve had to scrap and rework a lot of the stuff.
Naturally, this has just shot our quantity variances.
Interpret the variance reports in light of the comments by the Assembly Departmentsupervisor.

In: Accounting

You are a staff accountant in a large accounting department in a multinational public company. Your...

You are a staff accountant in a large accounting department in a multinational public company. Your job requires you to review documents related to the company’s equipment perchases. Upon verifying that purchases are properly approved, you prepare journal entries to record the equipment purchases in the accounting system. Typically, you handle equipment purchases costing $100,000 or less.

One day, the CFO unexpectedly calls you into an immediate meeting. You are anxious about the meeting and in your three years working for the company, you have never met the CFO. The CFO tells you that you have been doing a great job with the company and you have been selected to work on a top secret special project. The CFO states that he and the CEO have negotiated significant new arrangements with the company’s equipment suppliers which require the company to make advance payments for equipment to be purchased in the future. Given that the payments will be made through the operating division, they will initially be classified as operating expenses, but the CFO will contact you at the end of every quarter to reclass these amounts as assets. The CFO asks you to create the new account Prepaid Equipment for this purpose.

A few weeks later, the CFO leaves you a voicemail with the adjustment for quarter one as $771,000,000. Your company generates over $8 billion in revenues and incurs $6 billion in operating expenses every quarter, but you’ve never made a journal entry for that much money. You confirm the amount with the CFO who abruptly tells you the amount is correct. The “magic number” for the other quarters are $560,000,000 for Q2, $742,745,000 for Q3, and $941,000,000 for Q4.

You are becoming increasingly uncomfortable with the journal entries you’ve been making. The Prepaid Equipment account now has $3.8 billion and there has been no discussion about when this balance will be reduced, and no depreciation has been recorded for it.

Just as you are reflecting on this, you get a call from the vice president for internal audit for an immediate meeting. The vice president indicated that she had discussed her findings with the CFO prior to meeting with you, and the CFO claimed that he too had noticed the peculiar trend in the fixed asset turnover ratio, but hadn’t had the chance to investigate it further. The CFO urged internal audit to figure this out, as perhaps someone in accounting was making unapproved journal entries. The vice president identified you as the source of the journal entries and advised you to get a good lawyer.

Given your current circumstances, describe how you would have acted earlier had you been able to foresee where it might lead you. What should you do now?

In: Accounting

Problem 6 (14 Marks) The unemployment rate (UR) for PEI by quarter was as follows:                             &nb

Problem 6

The unemployment rate (UR) for PEI by quarter was as follows:

                                    UR           T (Time)

Year    Quarter            Rate     For Regression

2018    Q1                   12.0                 1

            Q2                   7.1                   2

            Q3                   8.2                   3

            Q4                   10.2                 4

2019    Q1                   12.2                 5

            Q2                   6.9                   6

            Q3                   7.1                   7

            Q4                   9.9                   8

  1. Sketch this data on a graph. Is there seasonality in the data?
  2. Use a four quarter moving average to determine the seasonal factors for the four quarters.
  1. Calculate the four quarter moving average;
  2. Centre the data if necessary;
  3. Calculate the seasonal factors for each Quarter.
  4. Calculate the average seasonal factors for each quarter.
  5. What percentage is the rounding error in this calculation?

In: Statistics and Probability

Given: Santana Rey expects second-quarter 2018 sales of her new line of computer furniture to be...

Given:

Santana Rey expects second-quarter 2018 sales of her new line of computer furniture to be the same as the first quarter’s sales (reported below) without any changes in strategy. Monthly sales averaged 45 desk units (sales price of $1,330) and 28 chairs (sales price of $580)

Sales† $ 228,270
Cost of goods sold‡ 150,570
Gross profit 77,700
Expenses
Sales commissions (10%) 22,827
Advertising expenses 11,400
Other fixed expenses 20,400
Total expenses 54,627
Net income $ 23,073

* Reflects revenue and expense activity only related to the computer furniture segment.
† Revenue: (135 desks × $1,330) + (84 chairs × $580) = $179,550 + $48,720 = $228,270
‡ Cost of goods sold: (135 desks × $830) + (84 chairs × $330) + $32,400 = $150,570

Santana Rey believes that sales will increase each month for the next three months (April, 53 desks, 40 chairs; May, 57 desks, 43 chairs; June, 61 desks, 46 chairs) if selling prices are reduced to $1,240 for desks and $530 for chairs, and advertising expenses are increased by 10% and remain at that level for all three months. The products’ variable cost will remain at $830 for desks and $330 for chairs. The sales staff will continue to earn a 10% commission, the fixed manufacturing costs per month will remain at $10,800 and other fixed expenses will remain at $6,800 per month.

Prepare budgeted income statements for the computer furniture segment for each of the months of April, May, and June that show the expected results from implementing the proposed changes. Use a three-column format, with one column for each month. (Can be done in excel)

In: Accounting

Use a multiple regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1 = 1 if Quarter 1, 0 otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise; Qtr3 = 1 if Quarter 3, 0 otherwise.

Consider the following time series data.

Quarter

Year 1

Year 2

Year 3

1

4

6

7

2

2

3

6

3

3

5

6

4

5

7

8

(b)

Use a multiple regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1 = 1 if Quarter 1, 0 otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise; Qtr3 = 1 if Quarter 3, 0 otherwise.

If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) If the constant is "1" it must be entered in the box. Do not round intermediate calculation.

Value = + Qtr1 + Qtr2 + Qtr3

(c)

Compute the quarterly forecasts for next year based on the model you developed in part (b).

If required, round your answers to three decimal places. Do not round intermediate calculation.

Quarter 1 forecast

Quarter 2 forecast

Quarter 3 forecast

Quarter 4 forecast

(d)

Use a multiple regression model to develop an equation to account for trend and seasonal effects in the data. Use the dummy variables you developed in part (b) to capture seasonal effects and create a variable t such that t = 1 for Quarter 1 in Year 1, t = 2 for Quarter 2 in Year 1,… t = 12 for Quarter 4 in Year 3.

If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300)

Value = + Qtr1 + Qtr2 + Qtr3 + t

(e)

Compute the quarterly forecasts for next year based on the model you developed in part (d).

Do not round your interim computations and round your final answer to three decimal places.

Quarter 1 forecast

Quarter 2 forecast

Quarter 3 forecast

Quarter 4 forecast

(f)

Is the model you developed in part (b) or the model you developed in part (d) more effective?

If required, round your intermediate calculations and final answer to three decimal places.

Model developed in part (b)

Model developed in part (d)

MSE

In: Statistics and Probability