A sample of 44 observations is selected from a normal population. The sample mean is 24, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.05 significance level.

H0: μ ≤ 24 H1: μ > 24

a) Is this a one- or two-tailed test?

b) What is the decision rule?

c) What is the value of the test statistic?

d) What is your decision regarding H0?

e) What is the p-value?

f) Interpret the p-value?

QUESTION 2 [Total = 15 marks]

Sports-R-Us Ltd runs a highly successful retail sporting business with stores in major shopping centres in metropolitan areas throughout Australia. It has come to the attention of Hannah, a substantial shareholder in Sports-R-Us that the company is sourcing merchandise produced in Erewhon, a developing country recovering from a civil war. She also learns that labour practice relied on in Erewhon is low wages, forced labour and low standards of workplace health and safety, but that there are otherwise limited employment opportunities. Nonetheless, she would like a members’ meeting to be held and a resolution to be passed by the shareholders at that meeting instructing the Board of Sports-R-Us to cancel any contracts they have for the purchase of merchandise produced in Erewhon.

(a) Can Hannah call such a meeting and can the shareholders pass such a resolution?

(b) Would you answer be different if the resolution was to remove the directors?

Case 2.2

Business Case: Data Chaos Creates Risk

Data chaos often runs rampant in service organizations, such as health care and the government. For example, in many hospitals, each line of business, division, and department has implemented its own IT applications, often without a thorough analysis of its relationship with other departmental or divisional systems. This arrangement leads to the hospital having IT groups that specifically manage a particular type of application suite or data silo for a particular department or division.

Data Management

When applications are not well managed, they can generate terabytes of irrelevant data, causing hospitals to drown in such data. This data chaos could lead to medical errors. In the effort to manage excessive and massive amounts of data, there is increased risk of relevant information being lost (missing) or inaccurate—that is, faulty or dirty data. Another risk is data breaches.

• Faulty data By 2015, 96% of health-care organizations had adopted electronic health records, or EHRs (Office of the National Coordinator for HIT, 2016). It is well known that an unintended consequence of EHR is faulty data. According to a study published in the Journal of the American Medical Association, data in EHR systems may not be as accurate and complete as expected (Conn, 2016). Incorrect lab values, imaging results, or physician documentation lead to medical errors, harm patients, and damage the organization’s accreditation and reputation.
• Data breaches More than 25 million people have been affected by health-care system data breaches since the Office for Civil Rights, a division of the U.S. Department of Health and Human Services, began reporting breaches in 2009. Most breaches involved lost or stolen data on laptops, removable drives, or other portable media. Breaches are extremely expensive and destroy trust.

Accountability in health-care demands compliance with strong data governance efforts. Data governance programs verify that data input into EHR, clinical, financial, and operational systems are accurate and complete—and that only authorized edits can be made and logged.

Vanderbilt University Medical Center Adopts EHR and Data Governance

Vanderbilt University Medical Center (VUMC) in Nashville, TN, was an early adopter of EHR and implemented data governance in 2009. VUMC’s experience provides valuable lessons.

VUMC consists of three hospitals and the Vanderbilt Clinic, which have 918 beds, discharge 53,000 patients each year, and count 1.6 million clinic visits each year. On average, VUMC has an 83% occupancy rate and has achieved HIMSS Stage 6 hospital EHR adoption. HIMSS (Healthcare Information and Management Systems Society, himss.org) is a global, nonprofit organization dedicated to better health-care outcomes through IT. There are seven stages of EHR adoption, with Stage 7 being a fully paperless environment. That means all clinical data are part of an electronic medical record and, as a result, can be shared across and outside the enterprise. At Stage 7, the health-care organization is getting full advantage of the health information exchange (HIE). HIE provides interoperability so that information can flow back and forth among physicians, patients, and health networks (NextGen Healthcare, 2016).

VUMC began collecting data as part of its EHR efforts in 1997. By 2009, the center needed stronger, more disciplined data management. At that time, hospital leaders initiated a project to build a data governance infrastructure.

Data Governance Implementation

VUMC’s leadership team had several concerns.

1. IT investments and tools were evolving rapidly, but they were not governed by HIM (Healthcare Information and Management) policies.
2. As medical records became electronic so they might be transmitted and shared easily, they became more vulnerable to hacking.
3. As new uses of electronic information were emerging, the medical center struggled to keep up.

Health Record Executive Committee

Initially, VUMC’s leaders assigned data governance to their traditional medical records committee, but that approach failed. Next, they hired consultants to help develop a data governance structure and organized a health record executive committee to oversee the project. The committee reports to the medical board and an executive committee to ensure executive involvement and sponsorship. The committee is responsible for developing the strategy for standardizing health record practices, minimizing risk, and maintaining compliance. Members include the chief medical information officer (CMIO), CIO, legal counsel, medical staff, nursing informatics, HIM, administration, risk management, compliance, and accreditation. In addition, a legal medical records team was formed to support additions, corrections, and deletions to the EHR. This team defines procedures for removal of duplicate medical record numbers and policies for data management and compliance.

Costs of Data Failure

Data failures incur the following costs:

• Rework
• Loss of business
• Patient safety errors
• Malpractice lawsuits
• Delays in receiving payments because billing or medical codes data are not available.

Benefits Achieved from Data Governance

As in other industries, in health care, data are the most valuable asset. The handling of data is the real risk. EHRs are effective only if the data are accurate and useful to support patient care. Effective ongoing data governance has achieved that goal at VUMC.

Questions

1. What might happen when each line of business, division, and department develops its own IT apps?
2. What are the consequences of poorly managed apps?
3. What two risks are posed by data chaos? Explain why.
4. What are the functions of data governance in the health-care sector?
5. Why is it important to have executives involved in data governance projects?
6. List and explain the costs of data failure.
7. Why are data the most valuable asset in health care?

Sources: Compiled from NextGen Healthcare (2016), Office of the National Coordinator for HIT (2016), and Conn (2016).

AMicroprocessor Memory Bus: A microprocessor is clocked at a frequency of 3.75 GHz when communicating with memory on a printed circuit board (PCB). A 15 cm long transmission line fabricated on a substrate with relative permeativity Er = 4.4 connects the two components. The transmission line has a characteristic impedance of 50 Ohms. (A) Calculate the velocity of the signal through the wire. (B) If we want to read data from the memory, we will have to send a signal from the processor to the memory and then receive a signal from the memory. How long will it take to complete this process? (C) How many clock cycles will it take to complete a memory read? (D) Should we terminate (impedance match) either end of the transmission line? If so, at which ends and why?

In 2016, Monsanto’s board accepted a $66 billion takeover offer from Bayer – Germany’s giant chemical and agricultural company. This takeover raises antitrust issues – creating one company with a large share of agricultural market for seeds and insecticides – that will require consideration by the U.S. government and the European Union. Discuss two or three of the key issues that Bayer's management considered in making this investment in the United States. Since the deal close Bayer's shares have lost $34 billion: was this a wise investment?

Need this in C#

Write a simple lottery program which can do the following:

1. asks the user to provide an integer value from 1 to 5

2. generates one random integer number from 1 to 5

3. display “You lost $1” if the two numbers are different, and display “You won $5” otherwise.the program asks if the user wants to continue playing the lottery.

If yes, the program repeats steps 1-3. If no, the program terminates.

A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump sum of $12 million in Year 0 (the current year), or in parts, in which $7 million can be provided at the end of Year 1, and another $7 million can be provided at the end of Year 2.

Describe your answer for each item below in complete sentences, whenever it is necessary. Show all of your calculations and processes for the following points:

Assuming the opportunity interest rate is 8%, what is the present value of the second alternative mentioned above?

Which of the two alternatives should be chosen and why?

How would your decision change if the opportunity interest rate is 12%?

Provide a description of a scenario where this kind of decision between two types of payment streams applies in the “real-world” business setting.

2. Suppose that (as stated in several Problems at the end of Chapter 8 of our text) Max spends his entire daily income of $35 on two activities, windsurfing or snorkeling. The prices to rent the equipment for windsurfing and snorkeling are $10 and $5, respectively. Max’s total utility (TU) from each of these activities is illustrated in the table below.

Hours Total Utility Marginal Utility Total Utility Per Day from Windsurfing from Windsurfing from Snorkeling

000 1120 40 2220 76

3. 3 300 106

4. 4 360 128

5. 5 396 140

6. 6 412 150

7. 7 422 158

Marginal Utility from Snorkeling

Below are four bivariate data sets and the scatter plot for each. (Note that each scatter plot is displayed on the same scale.) Each data set is made up of sample values drawn from a population.

Answer the following questions. The same response may be the correct answer for more than one question.

1 import java.util.Random;
2
3 /* This class ecapsulates the state and logic required to play the
4 Stick, Water, Fire game. The game is played between a user and the computer.
5 A user enters their choice, either S for stick, F for fire, W for water, and
6 the computer generates one of these choices at random- all equally likely.
7 The two choices are evaluated according to the rules of the game and the winner
8 is declared.
9
10 Rules of the game:
11 S beats W
12 W beats F
13 F beats S
14 no winner on a tie.
15
16 Each round is executed by the playRound method. In addition to generating the computer
17 choice and evaluating the two choices, this class also keeps track of the user and computer
18 scores, the number of wins, and the total number of rounds that have been played. In the case
19 of a tie, neither score is updated, but the number of rounds is incremented.
20
21 NOTE: Do not modify any of the code that is provided in the starter project. Additional instance variables and methods
22 are not required to make the program work correctly, but you may add them if you wish as long as
23 you fulfill the project requirements.
24
25 */
26 public class StickWaterFireGame {
27
28
29 // TODO 1: Declare private instance variables here:
30
31
32 /* This constructor assigns the member Random variable, rand, to
33 * a new, unseeded Random object.
34 * It also initializes the instance variables to their default values:
35 * rounds, player and computer scores will be 0, the playerWins and isTie
36 * variables should be set to false.
37 */
38 public StickWaterFireGame() {
39 // TODO 2: Implement this method.
40
41 }
42
43 /* This constructor assigns the member Random variable, rand, to
44 * a new Random object using the seed passed in.
45 * It also initializes the instance variables to their default values:
46 * rounds, player and computer scores will be 0, the playerWins and isTie
47 * variables should be set to false.
48 */
49 public StickWaterFireGame(int seed) {
50 // TODO 3: Implement this method.
51
52 }
53
54 /* This method returns true if the inputStr passed in is
55 * either "S", "W", or "F", false otherwise.
56 * Note that the input can be upper or lower case.
57 */
58 public boolean isValidInput(String inputStr) {
59 // TODO 4: Implement this method.
60 return false;
61 }
62
63 /* This method carries out a single round of play of the SWF game.
64 * It calls the isValidInput method and the getRandomChoice method.
65 * It implements the rules of the game and updates the instance variables
66 * according to those rules.
67 */
68 public void playRound(String playerChoice) {
69 // TODO 12: Implement this method.
70 }
71
72 // Returns the choice of the computer for the most recent round of play
73 public String getComputerChoice(){
74 // TODO 5: Implement this method.
75 return null;
76 }
77
78 // Returns true if the player has won the last round, false otherwise.
79 public boolean playerWins(){
80 // TODO 6: Implement this method.
81 return false;
82 }
83
84 // Returns the player's cumulative score.
85 public int getPlayerScore(){
86 // TODO 7: Implement this method.
87 return 0;
88 }
89
90 // Returns the computer's cumulative score.
91 public int getComputerScore(){
92 // TODO 8: Implement this method.
93 return 0;
94 }
95
96 // Returns the total nuber of rounds played.
97 public int getNumRounds(){
98 // TODO 9: Implement this method.
99 return 0;
100 }
101
102 // Returns true if the player and computer have the same score on the last round, false otherwise.
103 public boolean isTie(){
104 // TODO 10: Implement this method.
105 return false;
106 }
107
108 /* This "helper" method uses the instance variable of Random to generate an integer
109 * which it then maps to a String: "S", "W", "F", which is returned.
110 * This method is called by the playRound method.
111 */
112 private String getRandomChoice() {
113 // TODO 11: Implement this method.
114 return null;
115 }
116 }
117