PART 2: Instructions: Write three paragraphs to answer this question:

Suppose a sociologist at John Jay College is given a grant to study “whether there is a binge drinking problem on the campus (and in the dorms and nearby neighborhood) of Small Town College (STC). Describe three different data collection methods that the John Jay sociologist could use to gather evidence to determine whether or not STC has a serious “binge drinking problem” on its campus.For each data collection method, suggest the questions or issues that the sociologist would focus upon.

Suppose that your favorite restaurant serves the best ramen dishes in town . Since you eat there so often, you've observed the following :

the patrons are 40% male ,

the probability that the patron orders a tofu-based meal given that the patron is male is 30%,

while the probability that the order is tofu-based given the patron is female is 50%.

One night, you walk into the restaurant and see a tofu-based dish on one of the tables that is partially eaten ,but the customer has already left. What is the probability that the customer was female?

Uncle Fred recently died and left $305,000 to his 50-year-old favorite niece. She immediately spent $90,000 on a town home but decided to invest the balance for her retirement at age 65. What rate of return must she earn on her investment over the next 15 years to permit her to withdraw $70,000 at the end of each year through age 80 if her funds earn 8 percent annually during retirement? Round your answer to the nearest whole number.
  

Use your knowledge of decision-making and problem solving to select the term that best completes the sentence.

Many were made after a tornado devastated the small town with little warning.

Use your knowledge of decision-making and problem solving to determine which term best represents the given example.

You submit your recommendations to your manager, and she tells you, “Thank you very much, but we have additional data for the Green Town Hopper: A 30% DOH results in a saving of 255 gallons per year. Please resubmit your recommendations taking this into account by tomorrow.” [hinT: You now have four data points on each graph, so try a general cubic instead: R 5 ax3 1 bx2 1 cx 1 d. Use a graph to estimate the optimal DOH

1. A sample of 29 body temperatures resulted in a mean of 98.3^o and a standard deviation of .24^o. Use these sample statistics to construct a 98% confidence interval estimate of the standard deviation of body temperature of all healthy humans.
2. In a test of the Atkins weight loss program, 65 individuals participated in a randomized trial with overweight adults. After 12 months, the mean weight loss was found to be 5.1 lb, with a standard deviation of 4.8 lb. construct a 99% confidence interval estimate of the mean weight loss for all such subjects.
3. The Tyco Video Game Corporation finds that it is losing income because of slugs used in it video games. The machines must be adjusted to accept coins only if they fall within set limits. In order to set those limits, the mean weight of quarters in circulation must be estimated. A sample of quarters will be weighed in order to determine the mean. How many quarters must we randomly select and weigh if we want to be 90% confident that the sample mean is within 0.035 g of the true population mean for all quarters? Based on results from a pilot study, we can estimate the population standard deviation is 0.068 g
4. Of 250 adults selected randomly from one town, 72 of them smoke. Construct a 95% confidence interval for the true percentage of all adults in the town that smoke

Question 10: Referring to the data from Question 5, comparing the levels of support for an amalgamation proposal in the two potentially-affected towns:

a) Assume that this data was collected after a claim was made that the level of support is different in the two towns. Test this claim at LOC = 95%, using the critical value method.

b) Use the p-value method to determine if your decision from Part (a) above would change for any of ? = 0.10, 0.01, 0.005, 0.001 .

c) Assuming that the sampling in this study was done in a random and unbiased manner, do you think that the level of support for amalgamation is equal in the two towns, or are observed differences probably just attributable to random sampling error? Explain in the context of your answers above (Note: there is no single right answer to this question – but your answer needs to be consistent with the arguments supporting it).

Question 5: A proposal to amalgamate the two towns of Smallville and Palookatown into one municipality is scheduled to be put to a referendum vote at the next local election. A random survey of 200 voters in each town is conducted, with 113 voters in Smallville indicating their support for the proposal, and 90 voters in Palookatown indicating their support.

a) Calculate confidence intervals for the difference between the levels of support for amalgamation in the two towns, for: i. LOC = 95% ii. LOC = 99%

b) Comment on whether or not the results from Part (a) support the idea that one town is more supportive, overall, of the amalgamation proposal.

1. The process for buying a car in the U.S. seems to usually exhibit the following characteristics (it may differ from these, but I’m not an expert in the auto industry so just take these as given for the sake of argument):
   1. A car dealership purchases cars from a manufacturer at a specific wholesale price, set by the manufacturer.
   2. The car dealership puts a sticker in the car window which includes the MSRP, or manufacturer suggested retail price.
   3. The car dealership negotiates the actual selling (retail) price with individual customers, such that the same car may sell for different retail prices for different customers.

For the three prices mentioned above (wholesale price, MSRP, and retail/selling price) describe how much market power an individual car dealership would have in setting each price. In terms of just the retail/selling price, how might an individual car dealership’s potential market power be affected by the presence of other car dealerships in town? (E.g., a small town that has one dealership vs. a larger city where several car dealerships usually cluster in a certain area).

Given that car dealerships always ensure that the retail/selling price exceeds the wholesale price, such that customers pay more for the car than the dealership itself does, why do customers continue using car dealerships instead of purchasing the car directly from the manufacturer at its factory?

Problem 5-2A McCoy Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,040 (including freight) from Carlin Publishers, terms 2/10, n/30. 3 Sold books on account to the Goldschmidt bookstore for $1,200. The cost of the merchandise sold was $720. 6 Received $40 credit for books returned to Carlin Publishers. 9 Paid Carlin Publishers in full. 15 Received payment in full from the Goldschmidt bookstore. 17 Sold books on account to Town Crier for $1,200. The cost of the merchandise sold was $730. 20 Purchased books on account for $720 from Good Book Publishers, terms 1/15, n/30. 24 Received payment in full from Town Crier. 26 Paid Good Book Publishers in full. 28 Sold books on account to Emporia Bookstore for $1,300. The cost of the merchandise sold was $780. 30 Granted Emporia Bookstore $130 credit for books returned costing $80. Journalize the transactions for the month of June for McCoy Warehouse, using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 0 decimal places e.g. 15,222.)