Ms. Prince wants to create a scholarship in honor of her parents at the law school from which she received her degree. She could endow the scholarship with $500,000 cash or with $500,000 worth of marketable securities with a cost basis of $318,000. If her AGI is $1.8 million, compute the after-tax cost of the two endowment options. Use Individual tax rate schedules. (Enter your answers in dollars not in millions of dollars.)

1. Tickets for the school play cost $5 for students and $8 for adults. On opening night, all 360 seats were filled, and the box office revenues were $2610. How many student and how many adult tickets were sold?

2. A $76,000 trust is to be invested in bonds paying 8%, CDs paying 7%, and mortgages paying 10%. The bond and CD investment must equal the mortgage investment. To earn a $6670 annual income from the investments, how much should the bank invest in bonds?

3. Suppose that Janine desires 46 grams of protein and 38 grams of dietary fiber daily. One serving of kidney beans has 8 grams of protein and 6 grams of dietary fiber. One serving of refried pinto beans has 6 grams of protein and 6 grams of dietary fiber. If a serving of kidney beans costs $0.45 and a serving of refried pinto beans costs $0.35, then how many servings of each should Janine eat to minimize cost and still meet her requirements?

Personal Budget

At the beginning of the school year, Craig Kovar 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. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

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Sometimes an item may be a decrease in one period and an increase in a different period.

Review the definitions of static budgets and flexible budgets.

What weaknesses are shown by this cash budget?

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

Static

c. What are the budget implications for Craig Kovar?

Craig can see that his present plan will not provide  sufficient cash. If Craig did not budget but went ahead with the original plan, he would be $fill in the blank 9b0586052fd4fe0_3 short  at the end of December, with no time left to adjust.

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Mike Wilde is president of the teachers’ union for Otsego School District. In preparing for upcoming negotiations, he is investigating the salary structure of classroom teachers in the district. He believes there are three factors that affect a teacher’s salary: years of experience, a teaching effectiveness rating given by the principal, and whether the teacher has a master’s degree. A random sample of 20 teachers resulted in the following data.

1. Salary ($ thousands), y		Years of Experience, x1		Principal's Rating, x2		Master's Degree,* x3
   31.1		8		35		0
   33.6		5		43		0
   29.3		2		51		1
   43.0		15		60		1
   38.6		11		73		0
   45.0		14		80		1
   42.0		9		76		0
   36.8		7		54		1
   48.6		22		55		1
   31.7		3		90		1
   25.7		1		30		0
   30.6		5		44		0
   51.8		23		84		1
   46.7		17		76		0
   38.4		12		68		1
   33.6		14		25		0
   41.8		8		90		1
   30.7		4		62		0
   32.8		2		80		1
   42.8		8		72		0

2. Develop a correlation matrix. Which independent variable has the strongest correlation with the dependent variable? Does it appear there will be any problems with multicollinearity? (Round your answers to 3 decimal places.
3. Determine the regression equation. What salary would you estimate for a teacher with 5 years’ experience, a rating by the principal of 60, and no master’s degree? (Negative amount should be indicated by a minus sign. Round salary to nearest whole number, all other answers to 3 decimal places.)
4. The regression equation is:

5. Conduct a global test of hypothesis to determine whether any of the regression coefficients differ from zero. Use the 0.05 significance level. (Round your answers to 2 decimal places.)

6. Conduct a test of hypothesis for the individual regression coefficients. Would you consider deleting any of the independent variables? Use the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

7. If your conclusion in part (d) was to delete one or more independent variables, run the analysis again without those variables. (Round your answers to 4 decimal places.

An instructor from the school of business samples the students in his introduction to business class to learn about the amount of dollars students spend per semester on textbooks. The distribution that follows indicates the results of his sample. SHOW WORK.

Textbook Costs per Student per Semester (in dollars)

65, 147, 171, 142, 153, 187, 195, 106, 127, 178, 178, 205, 175, 178, 133, 186, 55

1. a) Construct a Box-and-Whisker Plot
2. b) Calculate the interquartile range
3. c) Determine if there are any outliers including potential outliers within the data set. State their value(s).

The scores of students on the SAT college entrance examinations at a certain high school had a normal distribution with mean ?=545.8μ=545.8 and standard deviation ?=28.4σ=28.4.

(a) What is the probability that a single student, randomly chosen from all those taking the test, would score 552 or higher?

For parts (b) through (d), consider a simple random sample (SRS) of 35 students who took the test.

(b) What are the mean and standard deviation of the sample mean score ?¯x¯, of 35 students?

Mean: Standard deviation:

(c) What z-score corresponds to the mean score ?¯x¯ of 552?

(d) What is the probability that the mean score ?¯x¯ of these students is 552 or higher?

(e) Suppose that you want to test whether the mean SAT score is higher for students who take an SAT prep course. You take a random sample of 35 students who have taken an SAT prep course, and find that the sample mean score is 552. What is the p-value for this study?

23. Claim: A school being in an Urban or Suburban location is independent of how many students score proficient in Reading and Math. Data: Students are randomly selected from various schools. The number proficient in reading and math is tabulated below. ? Is this evidence at the level of significance α = 0.01 to refute the claim?

Location Reading Math

Urban 45 40

Suburban 65 61

Bianca is conducting a study on high school​ students' perceptions of the importance of​ e-mail as a communication method. She is particularly interested in whether​ first-year high school students have different​ attitudes/beliefs about​ e-mail than do their senior peers. She gives a​ 10-question survey to a sample of 12 students. A completed survey for you to view is located in course materials.

A. Will you analyze single​ items, summed​ scores, or difference​ scores?

B.  One participant​ (Senior #5) has inadvertently marked her answer for Item 7 in the row for Item​ 6, resulting in two answers for Item 6. What should you do to account for the extra​ data? Would it be preferable to delete her data entirely from the​ dataset, or would you average the two scores together and assign that as the score for Item​ 6. Explain your answer.

C. Based on the information you​ have, discuss the limitations for this particular study.

1. Suppose that the government needs to raise money to pay for road construction and repair, school supplies, police, etc. It is trying to decide whether it should tax grocery purchases or meals at expensive restaurants. What would you recommend and why? Make sure to refer to concepts studied in chapter 8.
2. As you read in the lecture, economists disagree about the supply elasticity of labor. In your experience, do people respond to changing pay by working more (or less), or do they work about the same hours, no matter the pay?