Personal Budget

At the beginning of the school year, Katherine Malloy decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:

a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an overall cash decrease which should be indicated with a minus sign.

b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?

c. Malloy can see that her present plan   sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be $   at the end of December, with no time left to adjust.

A sample of 10 children in the 5th grade of North Stratfield School run the 100 meter dash in a average time of 29.2 seconds. Assume the bias adjusted sample standard deviation of the individual 100 meter dash times is 13.3 seconds.
Construct a 99% confidence interval for μμ, the true population mean 100 meter dash time. Since n is small, the t statistic will be used in deriving this confidence interval.
What is the degrees of freedom parameter that should be used to derive the t-value?  

What is the confidence interval? Give your answers as decimals, to two places

< μμ <

A study was conducted to determine if the salaries of elementary school teachers from two neighboring districts were equal. A sample of 15 teachers from each district was randomly selected. The mean from the first district was $28,900 with a standard deviation of $2300. The mean from the second district was $30,300 with a standard deviation of $2100. Assume the samples are random, independent, and come from populations that are normally distributed. Construct a 95% confidence interval for μ1 - μ2. Assume that two populations' variance are the same (σ21= σ22).

A survey of 500 high school students was taken to determine their favorite chocolate candy. Of the 500 students surveyed, 159 like Snickers, 151 like Twix, 176 like Reese's Peanut Butter Cups, 90 like Snickers and Twix, 99 like Twix and Reese's Peanut Butter Cups, 108 like Snickers and Reese's Peanut Butter Cups, and 56 like all three kinds of chocolate candy. How many students like no more than one kind of these chocolate candies?

a) 255

b) 315

c) 189

d) 60

e) 185

f) None of the above.

1b.

A survey of 500 high school students was taken to determine their favorite chocolate candy. Of the 500 students surveyed, 129 like Snickers, 118 like Twix, 145 like Reese's Peanut Butter Cups, 22 like Snickers and Twix, 54 like Twix and Reese's Peanut Butter Cups, 55 like Snickers and Reese's Peanut Butter Cups, and 8 like all three kinds of chocolate candy. How many students like Snickers, but not Twix or Reese's Peanut Butter Cups?

a) 129

b) 69

c) 61

d) 60

e) 121

f) None of the above.

A school psychologist wants to examine the effects of excessive television viewing on reading ability. It is known that the average number of words read per minute for a fourth grade student is µ =52. The psychologist has students log the number of hours one watches TV for two weeks. Fifteen students who average 3 or more hours of television viewing each night are selected to participate in the study. Can the school psychologist conclude that excessive television viewing decreases reading ability? Use the reading data below to analyze in StatCrunch or SPSS. Test at the .05 level.

Step 1: Develop Hypotheses:

a.     Independent Variable =                                                  Scale: Categorical           Quantitative          (1.5 pts)

b.    Dependent Variable =                                                     Scale: Categorical           Quantitative          (1.5 pts)

c.     Circle:     One-tailed       Two-tailed (.05 pt

d.    Alternative hypothesis in sentence form (1 pt).                                                                                                                                                      

e.     Null hypothesis in sentence form (1 pt).   

f.     Write the alternative and null hypotheses using correct notation (2 pts)

                                                     H₁:                                                                H₀:                                                                                                                         

Step 2: Establish significance criteria (.05 pt)

g.     a =

Step 3: Calculate test statistic, effect size, confidence interval

h.    t_calculated =                                                           Level of significance (p) =                                                                   (1 pt)                         

i.     Decision:      reject null     or                   fail to reject null                                                 (1 pt

j.     Calculate effect size =                                                                                                                                                        (2 pts)                                                                                                                               

k.    Determine the 99% confidence interval:                                                                                                                                                         (1 pt)                                                                                                                                                                                                     

Step 4: Draw conclusion

l.     Write your conclusion in sentence form including appropriate results notation (3 pts).

5. Suppose when getting ready for school you make the null hypothesis that it is not going to rain. Identify which of the statements below give a type 1 and type 2 error in context and explain how you know. Then, explain which error you would like to protect more strongly against making and how you would set your significance level for evaluating evidence against your null accordingly.

(a) You take your umbrella to work but don’t end up needing to use it because it never rains. (b) You leave your umbrella at home and get rained on walking between classes.

(b) You leave your umbrella at home and get rained on walking between classes

Dolores used to work as a high school teacher for $40,000 per year but quit in order to start her own catering business. To invest in her factory, she withdrew $20,000 fromher savings, which paid 5 percent interest, and borrowed $30,000 from her uncle, whom she pays 4 percent interest per year. Last year she paid $25,000 for ingredients and had revenue of $60,000. She asked Louis the accountant and Greg the economist to calculate her profit for her.

Explicit cost- ?

Implicit cost-?

Accounting profit-?

Economic profit-?

There are 398 students currently enrolled in a statistics course at your school. You wish to form

a sample of 4 students to answer some survey questions. Select the students who will belong to

the simple random sample by using the randomly generated number table below by starting in the

fourth row and first column.

35931 89035 23653 46370 28433

62632 81258 40557 19325 43161

28330 34629 79010 22483 95383

12441 20033 11802 03263 75380

Please let me know what fourth row and what first column is, and how to solve this problem easily.. And please give me the answer for this question.

Personal Budget

At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:

a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease which should be indicated with a minus sign.