Question 1: The results of a survey of America's best graduate and professional schools are given below.
| School | IQRange | AverageGPA | GMATScore | AcceptanceRate | Salary1 |
| Harvard | 135.00 | 3.44 | 644.00 | 15.00 | 168000.00 |
| Stanford | 133.00 | 3.24 | 665.00 | 10.20 | 165000.00 |
| MIT | 130.00 | 3.33 | 650.00 | 21.30 | 162000.00 |
| Virginia | 128.00 | 3.24 | 630.00 | 23.00 | 160269.00 |
| Chicago | 140.00 | 3.00 | 632.00 | 30.00 | 160269.00 |
| Penn | 130.00 | 3.02 | 644.00 | 19.40 | 160000.00 |
| Northwestern | 133.00 | 2.85 | 640.00 | 22.60 | 159000.00 |
| Duke | 132.00 | 2.75 | 630.00 | 18.20 | 158300.00 |
| NYU | 139.00 | 2.33 | 610.00 | 35.00 | 158161.00 |
| Michigan | 140.00 | 1.60 | 620.00 | 32.40 | 158000.00 |
| CMU | 115.00 | 2.00 | 630.00 | 31.20 | 157050.00 |
| Dartmouth | 108.00 | 2.75 | 648.00 | 13.40 | 157000.00 |
| Columbia | 106.00 | 2.89 | 645.00 | 37.10 | 157000.00 |
| UCLA | 105.00 | 2.32 | 640.00 | 20.70 | 156494.00 |
| UNC | 130.00 | 2.85 | 625.00 | 15.40 | 155800.00 |
| Cornell | 125.00 | 3.86 | 648.00 | 14.90 | 155700.00 |
| Cal-Berkeley | 115.00 | 3.75 | 634.00 | 24.70 | 155000.00 |
| USC | 110.00 | 3.55 | 610.00 | 31.90 | 154080.00 |
| Rochester | 108.00 | 2.98 | 615.00 | 35.90 | 149499.00 |
| Texas | 105.00 | 3.00 | 612.00 | 28.10 | 148985.00 |
| Purdu | 102.00 | 2.80 | 595.00 | 26.80 | 148500.00 |
| Pittsburgh | 94.00 | 2.10 | 615.00 | 33.00 | 148500.00 |
| Maryland | 90.00 | 3.90 | 593.00 | 28.10 | 147925.00 |
The top 23 business schools, as determined by reputation,
student selectivity, placement success, and graduation rate, are
listed in the table. For each school, three variables were
measured: (1) GMAT score for the typical incoming student; (2)
student acceptance rate (percentage accepted of all students who
applied); and (3) starting salary of the typical graduating
student. (4) IQ Level of typical incoming student (5) GPA of
typical graduating student
a) Test whether there is a correlation between these variables and
is this significant.
b) The academic advisor wants to predict the typical starting
salary of a graduate at a top business school using GMAT score of
the school as a predictor variable. Conduct a simple linear
regression of SALARY versus GMAT using the dataset provided.
In: Statistics and Probability
Question 20
Like many high school
seniors, Anne has several universities to consider when making her
final college choice. To assist in her decision, she has decided to
use AHP to develop a ranking for school R, school P, and school M.
The schools will be evaluated on five criteria, and Anne's
pair-wise comparison matrix for the criteria is shown
below.
|
Distance |
Program |
Size |
Campus Climate |
Cost |
|
|
Distance |
1 |
1/4 |
2 |
3 |
4 |
|
Program |
4 |
1 |
4 |
5 |
6 |
|
Size |
1/2 |
1/4 |
1 |
3 |
3 |
|
Climate |
1/3 |
1/5 |
1/3 |
1 |
2 |
|
Cost |
1/4 |
1/6 |
1/3 |
1/2 |
1 |
The universities' pair-wise comparisons on the criteria are shown
below
|
Distance |
R |
P |
M |
|
R |
1 |
2 |
3 |
|
P |
1/2 |
1 |
3/2 |
|
M |
1/3 |
2/3 |
1 |
|
Programs |
R |
P |
M |
|
R |
1 |
1/2 |
1 |
|
P |
2 |
1 |
2 |
|
M |
1 |
1/2 |
1 |
|
Size |
R |
P |
M |
|
R |
1 |
4 |
2 |
|
P |
1/4 |
1 |
1/2 |
|
M |
1/2 |
2 |
1 |
|
Climate |
R |
P |
M |
|
R |
1 |
1 |
3 |
|
P |
1 |
1 |
3 |
|
M |
1/3 |
1/3 |
1 |
|
Cost |
R |
P |
M |
|
R |
1 |
1/5 |
1 |
|
P |
5 |
1 |
5 |
|
M |
1 |
1/5 |
1 |
|
||||||||||
|
||||||||||
|
||||||||||
|
||||||||||
|
In: Statistics and Probability
TipTop Flight School offers flying lessons at a small municipal airport. The school’s owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below:
| TipTop Flight School Variance Report For the Month Ended July 31 |
||||||||||
| Actual Results |
Planning Budget |
Variances | ||||||||
| Lessons | 155 | 150 | ||||||||
| Revenue | $ | 36,920 | $ | 36,000 | $ | 920 | F | |||
| Expenses: | ||||||||||
| Instructor wages | 9,870 | 9,750 | 120 | U | ||||||
| Aircraft depreciation | 4,960 | 4,800 | 160 | U | ||||||
| Fuel | 2,470 | 1,950 | 520 | U | ||||||
| Maintenance | 2,280 | 2,160 | 120 | U | ||||||
| Ground facility expenses | 1,680 | 1,700 | 20 | F | ||||||
| Administration | 3,440 | 3,520 | 80 | F | ||||||
| Total expense | 24,700 | 23,880 | 820 | U | ||||||
| Net operating income | $ | 12,220 | $ | 12,120 | $ | 100 | F | |||
After several months of using such variance reports, the owner has become frustrated. For example, she is quite confident that instructor wages were very tightly controlled in July, but the report shows an unfavorable variance.
The planning budget was developed using the following formulas, where q is the number of lessons sold:
| Cost Formulas | |
| Revenue | $240q |
| Instructor wages | $65q |
| Aircraft depreciation | $32q |
| Fuel | $13q |
| Maintenance | $510 + $11q |
| Ground facility expenses | $1,250 + $3q |
| Administration | $3,220 + $2q |
Required:
2. Complete the flexible budget performance report for the school for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
|
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In: Accounting
b) Give 2 reasons why increasing state aid to property-poor districts may not necessarily lead to improved student academic performance in those districts.
c) In school finance, Housing Price Capitalization refers to the concept that increased funding for schools may lead to increased school quality, which in turn may lead to higher property values for homes that are served by the improved schools. What might be a potential downside to housing price capitalization?
a) What is the difference between “teacher qualifications” and “teacher effectiveness”?
b) In general terms, describe how value-added measures are typically calculated
c) How would you recommend schools measure teacher effectiveness? Provide reasoning for why you think your solution is a good one.
d, Researchers often think of education as a production process. I.e. schools invest in inputs to the education process that they in turn hope will produce educational outputs. In this context: 1. List at least four inputs that commonly factor into the educational production process.
2. List at least four educational outputs that emerge from the educational production process.
b) Imagine you are a school superintendent of a low-performing urban school district who has to choose how to invest a newly received grant of $10 million. How would you spend the money? What outcomes would you hope to improve? Are there potential downsides to spending the money the way you chose?
Use the following diagram to answer the following questions W1
a) At wage W1 is there a teacher labor shortage or surplus? Illustrate on the diagram.
b) Given the market is not in equilibrium, describe the market forces that bring the market into equilibrium. Illustrate on the diagram.
Use the diagram of a teacher labor market below to answer the following question.
c) The state passes a law requiring all class sizes be 25 students or less. How does this affect the equilibrium wage and labor quantity of teachers in the state? Demonstrate using the figure. Full credit answers will demonstrate the initial equilibrium wage and quantity, any changes due to the scenario, and the final equilibrium wage and quantity.
In: Economics
Coursepoint Plus Video Case: Community Case: Teen Maternal-Child Health
CASE INTRODUCTION
Violet Berry, a 16-year-old pregnant with her first child, and her boyfriend, Cory Peterson, make a visit to the school nurse’s office.
BRIEF SUMMARY OF CASE
Case Part 1 (text): Violet Berry is a 16-year-old Black female who is 28 weeks pregnant. She is gravida 1. She lives at home with her mother, grandmother, grandfather, and younger brother. Violet is in 10th grade at the local high school. She is 63 inches tall. Her prepregnancy weight was 110 pounds, and she currently weighs 118 pounds. She has generally been feeling well. The father of the baby, Cory Peterson, is also in 10th grade and tells Violet he wants to be a part of the life of her and the baby after the delivery. Violet went for her first visit to the prenatal clinic last week. She waited as long as she could because she did not want to tell her family that she was pregnant.
Current data reveal a reversal in the increase of teen pregnancy in the United States (Daley, 2012; www.cdc.gov); however, even with this lower rate, the United States continues to have the highest of teen birth rates of all industrialized nations. Most teens still report pregnancies as unintended. Early parenthood frequently influences the educational, developmental, social, mental health, and financial outcomes especially for the teen mother, but also for her child, family, and community. Additionally, teen pregnancy influences the rate of sexually transmitted infections among the teen population, which is among some of the highest.
Case Part 2 (video): Violet and her boyfriend, Cory, visit the school nurse to discuss her pregnancy. Violet is 28 weeks pregnant and is well supported by her boyfriend. In this scene, the school nurse discusses priorities for Violet during her pregnancy and commends her boyfriend for his support.
5. In anticipation of the delivery of Violet’s baby and her return to her home, what type of teaching should the nurse provide to Violet?
In: Nursing
Is college worth it? Among a simple random sample of 300 American adults who do not have a four-year college degree and are not currently enrolled in school, 147 said they decided not to go to college because they could not afford school.
1. Calculate a 99% confidence interval for the proportion of Americans who decide to not go to college because they cannot afford it, and interpret the interval in context. Round to 4 decimal places.
2. Suppose we wanted the margin of error for the 99% confidence level to be about 3.5%. What is the smallest sample size we could take to achieve this? Note: For consistency's sake, round your z* value to 3 decimal places before calculating the necessary sample size.
Is college worth it? Among a simple random sample of 350 American adults who do not have a four-year college degree and are not currently enrolled in school, 130 said they decided not to go to college because they could not afford school.
NOTE: While performing the calculations, do not used rounded values. For instance, when calculating a p-value from a test statistic, do not use a rounded value of the test statistic to calculate the p-value. Preserve all the decimal places at each step.
Enter at least 4 decimal places for each answer in WeBWorK.
1. A newspaper article states that only a minority of the
Americans who decide not to go to college do so because they cannot
afford it and uses the point estimate from this survey as evidence.
What are the correct hypotheses for conducting a hypothesis test to
determine if these data provide strong evidence supporting this
statement?
A. ?0:?=0.5H0:p=0.5, ??:?>0.5HA:p>0.5
B. ?0:?=0.5H0:p=0.5, ??:?<0.5HA:p<0.5
C. ?0:?=0.5H0:p=0.5, ??:?≠0.5HA:p≠0.5
2. Calculate the test statistic for this hypothesis test.
3. Calculate the p-value for this hypothesis test.
4. Based on the p-value, we have:
A. very strong evidence
B. little evidence
C. strong evidence
D. extremely strong evidence
E. some evidence
that the null model is not a good fit for our observed data.
In: Statistics and Probability
|
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers that it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 63 students enrolled in those two courses. Data concerning the company’s cost formulas appear below: |
| Fixed Cost per Month | Cost per Course |
Cost per Student |
||||
| Instructor wages | $ | 2,940 | ||||
| Classroom supplies | $ | 310 | ||||
| Utilities | $ | 1,230 | $ | 75 | ||
| Campus rent | $ | 4,700 | ||||
| Insurance | $ | 2,300 | ||||
| Administrative expenses | $ | 3,700 | $ | 44 | $ | 6 |
|
For example, administrative expenses should be $3,700 per month plus $44 per course plus $6 per student. The company’s sales should average $870 per student. |
| The actual operating results for September appear below: |
| Actual | ||
| Revenue | $ | 51,910 |
| Instructor wages | $ | 11,040 |
| Classroom supplies | $ | 19,380 |
| Utilities | $ | 1,940 |
| Campus rent | $ | 4,700 |
| Insurance | $ | 2,440 |
| Administrative expenses | $ | 3,680 |
| Required: | |
| A. |
The Gourmand Cooking School expects to run four courses with a total of 63 students in September. Complete the company’s planning budget for this level of activity. |
|
Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense: Net operating income: |
|
| B. |
The school actually ran four courses with a total of 53 students in September. Complete the company’s flexible budget for this level of activity. |
|
Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense: Net operating income: |
| 3. |
Calculate the revenue and spending variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense: Net operating income: |
In: Accounting
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as employed, unemployed, “not in the labor force” (if not in the civilian labor force but still part of the adult population), or “not in the adult population” if not in the civilian adult population. Person Status Lorenzo is a 75-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. Neha is a 36-year-old autoworker who was just laid off by her employer. She is trying to find any kind of job to help make ends meet. Sam is a 41-year-old graphic designer who is taking 2 years off from work to care for his small daughter. Beth is a 29-year-old who lost her job as an associate producer for a radio station. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. Andrew is a famous novelist. He is spending the summer at his lake house in upstate New York, doing a little writing each day but mostly spending his time gardening and reading. Teresa is a 11-year-old student at West Valley Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $20 per week. Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? 33.33% 40% 50% 60% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Unemployment Rate = According to this formula, what is the unemployment rate of this economy of six people? 33.33% 40% 50% 60%
In: Economics
Consider a small economy composed of six people: Felix, Janet, Larry, Megan, Susan, and Raphael. Each person's employment status is described in the following table.
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as employed, unemployed, “not in the labor force” (if not in the civilian labor force but still part of the adult population), or “not in the adult population” if not in the civilian adult population.
| Person | Status |
|---|---|
| Felix is a 23-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club. | |
| Janet is a 25-year-old recent college graduate. She did not work for pay last week, but she had two job interviews. | |
| Larry is a 45-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago. | |
| Susan is a 29-year-old who lost her job as an associate producer for a radio station. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. | |
| Raphael is a famous novelist. He is spending the summer at his lake house in upstate New York, doing a little writing each day but mostly spending his time gardening and reading. | |
| Megan is a 10-year-old student at Southside Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $20 per week. |
What is the formula for the labor force participation rate?
According to this formula, what is the labor force participation rate of this economy of six people?
33.33%
40%
50%
60%
What is the formula for the unemployment rate?
According to this formula, what is the unemployment rate of this economy of six people?
33.33%
40%
50%
60%
In: Economics
Continuing Cookie Chronicle
(Note: This is a continuation of the Cookie Chronicle from Chapters 1 through 3.) CCC4 Cookie Creations is gearing up for the winter holiday season. During the month of December 2011, the following transactions occur. Dec. 1 Natalie hires an assistant at an hourly wage of $8 to help with cookie making and some administrative duties. Dec. 5 Natalie teaches the class that was booked on November 25. The balance outstanding is received. Dec. 8 Cookie Creations receives a check for the amount due from the neighborhood school for the class given on November 30. Dec. 9 Cookie Creations receives $750 in advance from the local school board for five classes that the company will give during December and January. Dec. 15 Pays the cell phone invoice outstanding at November 30. Dec. 16 Issues a check to Natalie’s brother for the amount owed for the design of the website. Dec. 19 Receives a deposit of $70 on a cookie class scheduled for early January. Dec. 23 Additional revenue earned during the month for cookie-making classes amounts to $4,000. (Natalie has not had time to account for each class individually.) $3,000 in cash has been collected and $1,000 is still outstanding. (This is in addition to the December 5 and December 9 transactions.) Dec. 23 Additional baking supplies purchased during the month for sugar, flour, and chocolate chips amount to $1,250 cash. Dec. 23 Issues a check to Natalie’s assistant for $800. Her assistant worked approximately 100 hours from the time in which she was hired until December 23. Dec. 28 Pays a dividend of $600 to the common shareholder (Natalie). Instructions Using the information that you have gathered and the general ledger accounts that you have prepared through Chapter 3, plus the new information above, do the following.
(a) Journalize the above transactions.
(b) Post the December transactions. (Use the general ledger accounts prepared in Chapter 3.)
Please help
In: Accounting