Researchers at the University of Maryland recorded body temperatures from a random sample of 93 healthy adults. They obtained a sample mean of 98.42 ℉ and a standard deviation of 0.65℉. Use this sample data to test the hypothesis that the mean body temperature of all healthy adults is actually less than 98.6℉.

Shelli graduates from the University of South next month on her 25^th birthday, and she is excited to begin her new career. Because she wants to have a comfortable living when she retires, Shelli has decided to begin planning for her retirement now. As a result, she is currently evaluating the amount she needs to contribute to a retirement fund satisfy her financial requirements at retirement. After speaking to retired friends and relatives, Shelli estimates she will need $60,000 each year to be able to live comfortably and enjoy her “twilight years.” In addition, Shelli expects that she can invest in a retirement fund that will yield 8 percent interest compounded annually for a long as she contributes to the fund. As soon as she retires, Shelli will have to move her retirement “nest egg” to another investment so she can withdraw money when she needs it. Her plans are to move the money to a fund that allows withdrawals at the beginning of each year and pays 5 percent interest compounded annually. Shelli expects to retire in 40 years, and, after taking an online “life expectancy” quiz, she has concluded that she will live another 25 years after she retires. If Shelli’s expectations are correct, how much must she contribute to the retirement fund to satisfy her retirement plans if she intends to make her first contribution to the fund one year from today and the last contribution on the day she retires?

Alvin wants to save money to pay for his college education, which he plans to start in three years. Currently, the cost per year (for everything—food, clothing, tuition, books, transportation, and so forth) to attend the college he has chosen is $15,000; but these costs are expected to increase at the same rate as inflation, which is 3 percent, each year. Alvin plans to make three equal annual deposits into his “education” investment account beginning today. These deposits will earn 8 percent interest.

a.   If he plans to finish his college degree in four years, what will be the cost of Alvin’s education each year he is in college?

b.   How much must Alvin contribute each year so that he has enough money in his education fund when he starts college in three years to pay the costs for the four years it takes him to complete his degree?

MALAYSIAN BUSINESS LAW

Farid and Ah Fong graduated from a university in 2020 with a qualification in Bachelor of Business and Commerce. They decided to form a business offering advice to clients who wish to grow their businesses at a large scale. Fatimah who is a novice businesswoman is looking for a successful business partner in order to grow her business. She met a businessman by the name Felix but she is unsure of his financial credibility. She approached Farid and Ah Fong for consultation and advice as she came across their advertisement in the social media. Farid and Ah Fong did a thorough business research and recommended to Fatimah to proceed to have a business dealing with Felix as a business partner. Fatimah approached Felix and entered into a multi-million-dollar project. After a few months, Fatimah discovered that Felix is a financially troubled businessman. Fatimah is very upset. She approached Farid and Ah Fong for a clarification. However, Farid and Ah Fong claimed that they have conducted a thorough research on Felix’s financial standing. However, it has now transpired that Farid and Ah Fong did not look at the financial standing of Felix for the year 2018 but only looked at the financial standing for the year 2019. They claimed that there is no need to check the financial standing for the last two years. They also claimed that since they just graduated, they do not have much experience. Fatimah seeks your advice as to her rights against Farid and Ah Fong

The opinion of university alumni is important. One question from a recent survey of 450 business alumni was, “Should foreign language be required of all undergraduate business majors?” The results of the study indicated that 30% of the sample were in favor of a foreign language requirement; 54% were opposed to a foreign language requirement; and the remainder were undecided. Do the survey results indicate that the majority of alumni do not support a foreign language requirement? Solve manually and then verify your results with PHStat. Include Type II error with your solution.

1.

ssume you are a fresh graduate from University of Kenya with Public Finance as one of your specializations. You have been employed by the Ministry of Finance in your country. The government of your country is in the process of designing a better tax system in order to maximize revenue for accelerated economic development.

a. Your superior has assigned you the task of assisting in designing the new tax system. Discuss what a good tax system would require and explain the specific economic challenges that affect taxation in your country.

b. Explain two (2) major reasons why the incidence of taxation should be of paramount importance to the Government.

c. Discuss four (4) major recommendations you would offer a neigbouring country that is in the process of introducing VAT in their country.

Beth, a newlywed, just graduated from university as a Registered Nurse. She was just hired by a large hospital in Toronto that employs over 500 workers. She is hired at a rate of $40 per hour and has a probationary period of one-year. When she was hired, her employment offer was to get a minimum of 32 hours per week, but depending on the hospitals needs, may be up to 60 hours per week. Because of COVID-19, the hospital demands are high.

Beth's hours for this week were:

Monday: 12 hours

Tuesday: 9 hours

Wednesday: 12 hours

Thursday: 10 hours

Friday: Off

Saturday: 10 hours

1. What will be her pay for this week (assume no averaging agreement and breaks are paid)? Show your calculations.
2. Is it legal for the hospital to require her to work these many hours in a week? Explain your answer in detail.
3. Do you think the hospital may want to enter into an averaging agreement? Please discuss what it is, the advantages to the hospital, the advantages to Beth, and should she agree to it.

Ben Paul is an accounting major at a western university located approximately 60 miles from a major city. Many of the students attending the university are from the metropolitan area and visit their homes regularly on the weekends. Ben, an entrepreneur at heart, realizes that few good commuting alternatives are available for students doing weekend travel. He believes that a weekend commuting service could be organized and run profitably from several suburban and downtown shopping mall locations. Ben has gathered the following investment information.

1.         Five used vans would cost a total of $90,000 to purchase and would have a 3-year useful life

    with negligible salvage value. Ben plans to use straight-line depreciation.

2.         Ten drivers would have to be employed at a total payroll expense of $43,000.

3.         Other annual out-of-pocket expenses associated with running the commuter service would  

    include Gasoline $26,000, Maintenance $4,000, Repairs $5,300, Insurance $4,500,

    Advertising $2,200.

4.         Ben desires to earn a return of 15% on his investment.

5.         Ben expects each van to make ten round trips weekly and carry an average of six students

    each trip. The service is expected to operate 32 weeks each year, and each student will be

    charged $15 for a round-trip ticket.

Instructions

(a)         Determine the annual:

                                                           (1) net income and

           (2) net annual cash flows for the commuter service.

(b)       Compute the:

           (1) cash payback period and

           (2) annual rate of return. (Round to two decimals.)

(c)         Compute the net present value of the commuter service. (Round to nearest dollar.)

(d)         What should Ben conclude from these computations?

1. A university found that 10% of students withdraw from a math course. Assume 25 students are enrolled.
   1. Write the prob. distribution function with the specific parameters for this problem

1. 2. Compute by hand (can use calculator but show some work) the pro that exactly 2 withdraw.
2. 3. Compute by hand (can use calculator but show some work) the prob. that exactly 5 withdraw.
3. 4. Construct the probability distribution table of class withdrawals in Excel. This is a table of x and f(x). Generate one column for the number of x successes with numbers 0 to 25 in each row. Generate a second column with the probability f(x) of each success using the Excel function =BINOM.DIST(x, n, p, FALSE) in each row. Attach the table
4. 5. What is the probability that 5 or less will withdraw?

1. Every day, Eric takes the same street from his home to the university. There are 4 street lights along his way, and Eric has noticed the following Markov dependence. If he sees a green light at an intersection, then 60% of time the next light is also green, and 40% of time the next light is red. However, if he sees a red light, then 75% of time the next light is also red, and 25% of time the next light is green. Let 1 = “green light” and 2 = “red light” with the state space {1, 2}.

(a) Construct the 1-step transition probability matrix for the street lights.

(b) If the first light is red, what is the probability that the third light is red?

(c) Eric’s classmate Jacob has many street lights between his home and the university. If the first street light is red, what is the probability that the last street light is red? (Use the steady-state distribution.)

Ms Mary was accepted to Big State University and received a reduced tuition from $50,000 to $20,000. Mary also received a scholarship of $30,000 to attend Big State University. Since Mary's tuition is $20,000 she will use the remaining portion to cover her room and board expenses. BSU also offered Mary a part-time job as an admin. assistant where she will be paid $2,500 per year. Mary Smith needs your help in determining what is taxable and what is not taxable. Please use IRS publication 970 and let her know what /if anything is taxable and what is nontaxable and any other info that is relevant. Please write at leat 200 words to explain why.