Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (plastic) 8 sq ft. $ 1.02 per sq. ft. $ 8.16 Direct labor 0.3 hr. $ 11.10 per hr. 3.33 Variable manufacturing overhead (based on direct labor hours) 0.3 hr. $ 2.60 per hr. 0.78 Fixed manufacturing overhead ($383,880 ÷ 914,000 units) 0.42 Parker Plastic had the following actual results for the past year: Number of units produced and sold 1,080,000 Number of square feet of plastic used 11,600,000 Cost of plastic purchased and used $ 11,600,000 Number of labor hours worked 312,000 Direct labor cost $ 3,681,600 Variable overhead cost $ 800,000 Fixed overhead cost $ 369,000

Required: Calculate Parker Plastic’s direct labor rate and efficiency variances.

AVP of a manufacturing firm that produces two products has to decide (1) How much capacity to build? (2) Whether to invest in dedicated or flexible resources, or a portfolio consisting of both dedicated and flexible systems. The VP received the following forecasting for the demand of each product. Year 1–2 Year 3–6 Volume Volume Probability Product A 500,000 200,000 0.7 600,000 0.3 Product B 200,000 200,000 0.3 600,000 0.7 A dedicated line can produce 300,000 annually and its cost is $30 million. Flexible systems are supplied at chunks; each has an annual production capacity of 50,000 units and costs $7 million. The revenues from each product sold are $40. (a) Calculate the optimal capacity—type and quantity. (b) What is the optimal solution if the cost of a dedicated line that can produce 200,000 annually is $15 million? (c) What is the optimal solution if the cost of a dedicated line that can produce 300,000 annually is $40 million?

1. Which of the following statement about the CPI is not correct?

a. the CPI tracks changes in the price of import goods.

b. the CPI tracks changes in the price of export goods.

c. the CPI is based on the same set of goods over a multi-year period.

d. the CPI only includes consumption goods – it does not include capital investment goods.

2. Suppose 60% of money is held as currency and the reserve ratio is 0.3. The money multiplier is

a. 1/0.72 b. 1/0.3 c. 1/0.6 d. 1/0.18

3. Suppose nominal GDP in 2008 was greater than real GDP in 2008. Given this information, we know with certainty that

a. the GDP deflator in 2008 was greater than the GDP deflator in the base year.

b. the GDP deflator in 2008 was less than the GDP deflator in the base year.

c. real GDP in 2008 was less than real GDP in the base year.

d. real GDP in 2008 was greater than real GDP in the base year

A principal has different options of setting wages and the Agent has different levels of work. Consider this model with the following special values:

u(2√w); d_H=15, d_L=0, g=300, m=200, b=100, w_b=wage base=0

e_H results in a probability of profit levels g, m, b as 0.5, 0.3, 0.2

e_L results in a probability of profit levels g, m, b as 0.2, 0.3, 0.5

Assuming the Principal chooses a pure wage scheme, what would be the expected payoffs for the Principal and the Agent?

Assuming the Principal chooses a pure franchise scheme, what would be the maximum franchise fee? What would be the expected payoffs for the Principal and the Agent?

Assuming the Principal chose a wage plus bonus scheme, what is the minimum bonus to induce e_H? What would be the expected payoffs for the Principal and the Agent? Assume the bonus is awarded only for good, not for medium.

In this scenario, what should the Principal choose to do?

1. Locate a root of sin(x)=x2 where x is in radians. Use a graphical technique and bisection with
the initial interval from 0.5 to 1. Perform the computation until ea is less than es=2%. Also
perform an error check by substituting your final answer into the original equation.
2. Determine the positive real root of ln(x
2
)=0.7 using three iterations of the bisection method,
with initial interval of [0.5:2].
3. Determine the lowest positive root of f(x)=7sin(x)e
-x
-1 using (a) the Newton-Raphson
method (three iterations, xi=0.3). (b) the secant method (five iterations, xi-1=0.5 and xi=0.4). (c)
the modified secant method (three iterations, xi=0.3, δ=0.01).
4. Use the Newton-Raphson method to find the root of f(x)=e
-0.5x
(4-x)-2. Employ initial guesses
of (a) 2, (b) 6, and (c) 8. Explain your results.

Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 6.3 ounces $ 4.00 per ounce $ 25.20 Direct labor 0.3 hours $ 19.00 per hour $ 5.70 Variable overhead 0.3 hours $ 4.00 per hour $ 1.20 The company reported the following results concerning this product in February. Originally budgeted output 5,800 units Actual output 8,600 units Raw materials used in production 30,900 ounces Actual direct labor-hours 1,990 hours Purchases of raw materials 33,300 ounces Actual price of raw materials $ 102.90 per ounce Actual direct labor rate $ 112.40 per hour Actual variable overhead rate $ 4.90 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for February is:

Question 1. My student union poll included another question regarding the preference for different dog breeds. I find that there is a statistically significant association between preferred dog breeds and gender of the students. I calculate a Cramer's V test and get a result of 0.05. What conclusion would I make about this result?

A) The Cramer's V score disproves our statistical significant finding.

B) The result was statistically significant, but not substantively significant.

C) The Cramer's V value further proves that the result is significant.

Question 2. I decide to conduct another poll outside the student union, and I want to ensure that my poll will have a low probability of Type II error and will be able to detect a difference with a medium effect size. I run the following code:

pwr.chisq.test(w = 0.3, N=NULL, df = 20, sig.level = 0.05, power = 0.8)

I get the following output in R:

Chi squared power calculation

w = 0.3
N = 232.8977
df = 20
sig.level = 0.05
power = 0.8

What does this output tell me about how I need to design my next poll.

A) I need a sample size of 233 students to obtain a result with the power I desire to have in my analysis.

B) Since I set my sample size at 233 I will achieve a power of 0.8.

C) A sample size of 230 should be sufficient for my poll.

D) My new poll needs a power of 0.8 to have an effect size of 0.3.

Question 3. Which of the following reflects the substantive significance of a statistic?

A) effect size

B) p-value

C) beta

D) alpha

Exhibit Symptom of COVID-19

Study shows that about 70% of the COVID-19 patients have a dry cough (which does not bring up any mucus or phlegm). To use hypothesis testing method to check the credibility of this study, you randomly surveyed 25 patients of COVID-19 and 18 of them answered that they are having dry cough.

1. Refer to Exhibit Symptom of COVID-19. What is the value of the test statistics?

2. Refer to Exhibit Symptom of COVID-19. Which of the followings CAN be used to calculate the answer in Question 6? (Select ALL that apply.)

-2*(1 - NORM.DIST( sample proportion, 0.7, std. dev. of population, 1 ))

-2*(1 - NORM.DIST( 18/25, 0.7, sqrt(0.7*0.3/25), 1 ))

-T.DIST.2T( t-test, 24)

-2*T.DIST.RT( (18/25 - 0.7)/(sqrt(0.7*0.3/25)), 24 )

-1 - BINOM.DIST.RANGE(25, 0.7, 25*0.7-0.5, 25*0.7+0.5)

-2*(1 - NORM.DIST( z-test, 0, 1, 1) )

-2*NORM.S.DIST( z-test, 1)

-2*NORM.DIST( 18/25, 0.7, sqrt(0.7*0.3/25), 1 )

-2*(1 - NORM.S.DIST( z-test, 1))

3. In this question, the symbol "<=" means "", and ">=" means "".

Suppose you the significance level you have chosen is α=0.09. This corresponds to a critical value to be  [ Select ] . Hence, you will  [ Select ] the null hypothesis H0. And conclude that, from this sample of 25 patients, there is  [ Select ] to say that the population proportion of dry cough symptom is  [ Select ] . This is because the p-value is  [ Select ] the α value, and the relationship between the test statistic and the critical value is  [ Select ] .

Language C++

Thank You!

-Write a function getMeASentence() that takes zero arguments, and its return type is string. This function will return a randomly generated sentence that abides by certain rules.

-The rules of this sentence are that there are 5 randomly generated lowercase letters, a space, a randomly generated inequality symbol, a space, and a randomly generated 1 digit number.

-In this context, an inequality symbol is understood to mean the "<", ">", or "=" symbol.

-Write a function isItCloseEnough(double, double, double) that takes three arguments of type double, num1, num2, and cutoff. Its return type is Boolean. It will return true if num1 and num2 are within a distance of cutoff, false otherwise. It is up to you to decide what value to return if the distance is exact.

-In your main function, write code that calls the getMeASentence() function 2 separate times, with appropriate labels, to test that it is working.

-In your main function, also write code to test the IsItCloseEnough(double, double, double) function by prompting the user to enter three numbers, and then call the function and output the results with appropriate labels. You should do this THREE times to test it properly.

Sample Output (remember that random values may vary)

Sentence 1: bksde > 6

Sentence 2: zloxr = 9

Enter 3 numbers: 2.1 2.3 0.3

Yes the numbers are within the cutoff.

Enter 3 numbers: 2.3 2.1 0.3

Yes the numbers are within the cutoff.

Enter 3 numbers: 2.3 2.1 0.1

No the numbers are not within the cutoff.

*Explanation*: In all cases, the distance between the two entered numbers is 0.2. If the cutoff is 0.3 units, then yes, the numbers are within the cutoff distance, but if the cutoff is 0.1 like that last case, then that is considered to be no.