The Chartered Financial Analyst (CFA®) designation is fast becoming a requirement for serious investment professionals. It is an attractive alternative to getting an MBA for students wanting a career in investment. A student of finance is curious to know if a CFA designation is a more lucrative option than an MBA. He collects data on 38 recent CFAs with a mean salary of $142,000 and a standard deviation of $45,000. A sample of 55 MBAs results in a mean salary of $126,000 with a standard deviation of $27,000. Use Table 2. μ1 is the population mean for individuals with a CFA designation and μ2 is the population mean of individuals with MBAs. Let CFAs and MBAs represent population 1 and population 2, respectively. a-1. Set up the hypotheses to test if a CFA designation is more lucrative than an MBA at the 10% significance level. Do not assume that the population variances are equal. H0: μ1 − μ2 = 0; HA: μ1 − μ2 ≠ 0 H0: μ1 − μ2 ≥ 0; HA: μ1 − μ2 < 0 H0: μ1 − μ2 ≤ 0; HA: μ1 − μ2 > 0 a-2. Calculate the value of the test statistic. (Round all intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) Test statistic a-3. Approximate the p-value. 0.025 Picture p-value < 0.050 0.050 Picture p-value < 0.100 0.010 Picture p-value < 0.025 p-value Picture 0.010 p-value Picture 0.100 a-4. Do you reject the null hypothesis at the 10% level? No, since the p-value is more than α. No, since the p-value is less than α. Yes, since the p-value is more than α. Yes, since the p-value is less than α. b. Using the critical value approach, can we conclude that CFA is more lucrative? No, since the value of the test statistic is more than the critical value of 1.297. No, since the value of the test statistic is more than the critical value of 1.673. Yes, since the value of the test statistic is more than the critical value of 1.297. Yes, since the value of the test statistic is more than the critical value of 1.673.
In: Statistics and Probability
My friend Joe works at a drug company, and he heard that in a week, the drug company is going to approval for its newest blockbuster drug to cure cancer. Before the world knows about this, Joe tells me. I tell my brother Jim. Then Jim goes and buys lots of stock in this drug company. A week later, the world learns of the drug approval and the stock price increases by 200%. Jim is a millionaire from his trades. The SEC learns of this and investigates it. Who might be in legal trouble? How would we decide? Explain why.
In: Economics
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Number of Days Unpaid |
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| Customer | Total | 0-30 | 31-60 | 61-90 | Over 90 | |||||
| Aerosmith | $ | 2,000 | $ | 1,000 | $ | 1,000 | ||||
| Biggie Small | 2,000 | $ | 1,000 | $ | 1,000 | |||||
| Others (not shown to save space) | 100,200 | 39,300 | 42,300 | 9,300 | 9,300 | |||||
| ZZ Top | 7,300 | 7,300 | ||||||||
| Total Accounts Receivable | $ | 111,500 | $ | 47,600 | $ | 43,300 | $ | 10,300 | $ | 10,300 |
| Estimated uncollectible (%) | 5% | 15% | 25% | 40% | ||||||
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Elite Events Corporation has provided event planning services for several years. The company uses the percentage of credit sales method to estimate bad debts for internal monthly reporting purposes. At the end of each quarter, the company adjusts its records using the aging of accounts receivable method. The company entered into the following partial list of transactions during the first quarter. |
| a. | During January, the company provided services for $330,000 on credit. | ||
| b. | On January 31, the company estimated bad debts using 2 percent of credit sales. | ||
| c. | On February 4, the company collected $280,000 of accounts receivable. | ||
| d. | On February 15, the company wrote off a $3,300 account receivable. | ||
| e. | During February, the company provided services for $280,000 on credit. | ||
| f. | On February 28, the company estimated bad debts using 2 percent of credit sales. | ||
| g. |
On March 1, the company loaned $18,000 to an employee who signed a 4% note, due in 9 months. |
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| h. | On March 15, the company collected $3,300 on the account written off one month earlier. | ||
| i. | On March 31, the company accrued interest earned on the note. | ||
| j. |
On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis. Allowance for Doubtful Accounts has an unadjusted credit balance of $9,300.
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In: Accounting
You are the CEO of Marketing Research Ltd, a company that conducts marketing research for all types of organisations. Following is a marketing research scenario that you are required to address. Your task is to create a report on the problem and the proposed solution to Martin Scoon.
Martin Scoon, the owner of Scoon Beverages, was mulling the launch of a new product for which he needed to find the pulse of consumers to decide further. He designed a survey for collecting data from people in the city and engaged the services of research students from the university for executing the fieldwork. However, he found them to be non-cooperative at times and wondered whether the data supplied was fudged.
Question
A.Outlines a brief description of the business, its date of establishment, product, market, location and any other relevant information. Also, the marketing research capacity and systems that are currently in place, and any other relevant information. (You may need to add details but you cannot change the information already provided.)
B. Analyse the central problems/issues relevant to the case study
In: Operations Management
abd. 1.1. gfdslgjjldwoergpowo
ignore the above
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Event |
Type of inflation | |
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a) In the 1980s, the UK experienced rapid economic growth. The government cut interest rates and also cut taxes. House prices rose by up to 30% whereby causing a positive wealth effect and a rise in consumer confidence. This increased confidence led to higher spending, lower saving and an increase in borrowing. |
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b) The European trades union demand for higher wages and because wages are the most significant cost for many firms, it resulted in higher prices for goods and services. |
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c) In early 2008, there was a spike in the price of oil to over US$150 per barrel in the U.S. This situation has resulted in a significant impact on most goods in the economy. |
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d) When the Central Bank prints more money, we would expect to see a rise in inflation. This is because the money supply plays an important role in determining prices. if there is more money chasing the same amount of goods, then prices will rise. |
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e) As the price of imports increase, prices of domestic goods using imports as raw materials also increase, causing an increase in the general prices of all goods and services. |
Indicate the type of unemployment for each event shown below:
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Event |
Type of Unemploment |
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a) In 1970s, dayang's mother was a worker in the typewriter manufacturing industry in America. In 1982, she became unemployed because of increased popularity of personal computers which reduces the demand for typewriters. |
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b) FedEx (Federal Express) is the package delivery company in the United States.longki is a FedEx employee who is hired for the Christmas season and laid off after Christmas.His brother, Alex works in an amusement parks and laid off during the winter months because less people will visit the parks during this time. |
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c) Lita is a new graduate from Havard University who got a late start in the job market. She graduated in February 2016 and now is looking for employment after her graduation. |
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d) Kenel is an auto worker at Toyota automotive manufacturing in Malaysia. He was laid off during a recession, because people are buying fewer cars. When people buy fewer cars, the auto makers don't need as many employees to meet the consumer demand. |
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e) The rise in unemployment for stable workers after the development of gasoline-powered automobiles and the resulting long-term decline in horse-and-buggy transportation. |
1.2.
a) What is the main problem with a barter system? Give an appropriate event/situation that indicates the problem.
Main problems:
Event/Situation:
b) During World War ii, cigarettes were used as money among prisoners of war camps. Considering the attributes that good money should possess, why would cigarettes emerge as money among prisoners?
i)State any THREE (3)attributes of cigarettes as money in the prison.
The attributes of cigarettes as money in the prison:
ii)Briefly explain why each attribute mentioned in (i)makes cigarettes emerge as money
among prisoners. (3 mark)
Explanation:
Thanks really appreciated your help dear expert Ms/Sir
In: Economics
True
False
QUESTION 2
16.6 The main purpose of an audit of a construction company’s financial statements is to:
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Confirm that the statement was prepared in accordance with GAAP rules |
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Prepare income tax returns |
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Check the arithmetic used in the financial statement |
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Find employee malfeasance |
QUESTION 3
16.5 From the project lifecycle, we can learn all of the following except:
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Early CM involvement helps to optimized time and cost management |
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Material and labor expenditures should be leveled to manage cash flow |
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Project risk declines with time |
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Cost of change increases with time |
QUESTION 4
16.3 Which of the following best describes the challenges in managing demobilization?
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Managing labor productivity for smaller, fussier tasks and managing worker expectations |
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Maintaining the project owner's attention |
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Slow government approvals |
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Subcontractors are unwilling to complete work until finally paid |
QUESTION 5
16.1 When the amount that has been earned (BCWP) is consistently below the amount that was supposed to be earned (BCWS), it can be concluded that the project is behind schedule.
True
False
QUESTION 6
16.7 Cost estimating and the resulting data are used for all purposes except:
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Financial Management of the CM Company |
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Planning the project |
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Monitoring and controlling costs |
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Costing to win the project |
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Lessons learned from the project can improve performance on similar future projects. |
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The closeout documents are the construction manager's property, so the owner must work with the construction manager when future renovations or additions are performed |
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The closeout interview between senior construction management personnel and the project owner increases the likelihood of future construction work. |
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Retention of excellent contract document records can benefit the project owner in future renovations. |
In: Civil Engineering
Flaming Foliage Sky Tours is a small sightseeing tour company in
New Hampshire. The firm specializes in aerial tours of the New
England countryside during September and October, when the fall
color is at its peak. Until recently, the company had not had an
accounting department. Routine bookkeeping tasks, such as billing,
had been handled by an individual who had little formal training in
accounting. As the business began to grow, however, the owner
recognized the need for more formal accounting procedures.
Jacqueline Frost has recently been hired as the new controller, and
she will have the authority to hire an assistant.
During her first week on the job, Frost was given the following
performance report. The report was prepared by Red Leif, the
company’s manager of aircraft operations, who was planning to
present it to the owner the next morning. “Look at these favorable
variances for fuel and so forth,” Leif pointed out, as he showed
the report to Frost. “My operations people are really doing a great
job.” Later that day, Frost looked at the performance report more
carefully. She immediately realized that it was improperly prepared
and would be misleading to the company’s owner.
| FLAMING FOLIAGE SKY TOURS | ||||||||||||||||||||
| Performance Report | ||||||||||||||||||||
| For the Month of September | ||||||||||||||||||||
| Formula Flexible Budget (per air mile) |
Actual (38,000 air miles) |
Static Budget (40,000 air miles) |
Variance | |||||||||||||||||
| Passenger revenue | $ | 10.50 | $ | 399,000 | $ | 420,000 | $ | 21,000 | U | |||||||||||
| Less: Variable expenses: | ||||||||||||||||||||
| Fuel | $ | 1.40 | $ | 56,900 | $ | 56,000 | $ | -900 | F | |||||||||||
| Aircraft maintenance | 2.15 | 79,700 | 86,000 | 6,300 | F | |||||||||||||||
| Flight crew salaries | 1.40 | 54,200 | 56,000 | 1,800 | F | |||||||||||||||
| Selling and administrative | 2.50 | 92,400 | 100,000 | 7,600 | F | |||||||||||||||
| Total variable expenses | $ | 7.45 | $ | 283,200 | $ | 298,000 | $ | 14,800 | F | |||||||||||
| Contribution margin | $ | 3.05 | $ | 115,800 | $ | 122,000 | $ | 6,200 | U | |||||||||||
| Less: Fixed expenses: | Per Month | |||||||||||||||||||
| Depreciation on aircraft | $ | 10,000 | $ | 10,000 | $ | 10,000 | $ | 0 | ||||||||||||
| Landing fees | 4,000 | 4,100 | 4,000 | 100 | U | |||||||||||||||
| Supervisory salaries | 37,000 | 34,000 | 37,000 | 3,000 | F | |||||||||||||||
| Selling and administrative | 46,000 | 51,500 | 46,000 | 5,500 | U | |||||||||||||||
| Total fixed expenses | $ | 97,000 | $ | 99,600 | $ | 97,000 | $ | 2,600 | U | |||||||||||
| Operating income | $ | 16,200 | $ | 25,000 | $ | 8,800 | U | |||||||||||||
Required:
1. Prepare a columnar flexible budget for Flaming
Foliage Sky Tours’ expenses, using air miles as the cost driver at
the following activity levels: 38,000 air miles, 40,000 air miles,
and 43,000 air miles.
2. In spite of several favorable expense variances
shown on the report above, the company’s September operating income
was only about two-thirds of the expected level. Identify some of
the possible reasons.
4. Prepare a revised expense variance report for
September, which is based on the flexible budget prepared in part
(1).
5. Jacqueline Frost presented the revised expense
report to Leif along with the memo explaining why the original
performance report was misleading. Leif did not take it well. He
complained of Frost’s “interference” and pointed out that the
company had been doing just fine without her. “I’m taking my report
to the owner tomorrow,” Leif insisted. “Yours just makes us look
bad.” What are Frost’s ethical obligations in this matter?
In: Accounting
Prof. Business has a self-managed retirement plan through her University and would like to retire in 8 years and wonders if her current and future planned savings will provide adequatefuture retirement income. Here’s her information and goals.
Prof. Business wants a 20-year retirement annuity that begins 8 years from today with an equal annual payment equal to $110,000 today inflated at 2% annually over 8 years. Her first retirement annuity payment would occur 8 years from today. She realizes her purchasing power will decrease over time during retirement.
Prof. Business currently has $640,000 in her University retirement account. She expects these savings and any future deposits into her University and any other retirement account will earn 7.5% compounded annually. Also, she expects to earn this same 7.5% annual return after she retires.
Answer the following questions to help Prof. Business finalize her retirement planning.
What is Prof. Business’ desired annual retirement income?
How much will Prof. Business need 8 years from today to fund her desired retirement
annuity?
In addition to the $640,000 balance today, Prof. Business will fund her future retirement goal from question 2 by making 8 annual equal deposits at 7.5% compounded annually into her retirement accounts starting a year from today (the last deposit will be made when Prof. Business retires). How large does this annual deposit need to be in additionto the initial $640,000 invested in Prof. Business’ retirement fund?
4. This annual figure from #3 is more than the Prof.’s current annual contribution, which makes her feel a little anxious about her future planned retirement. Also, Prof. Business’annual retirement account contribution is based on a percentage of her salary and willincrease as her salary increases. So, let’s re-plan her retirement income. Let’s account for the fact that her and the University’s contributions to Prof. Business’ Universityretirement plan are based on a certain percentage of her salary and will increase as her salary increases. Based on this formula, her first upcoming end of the year deposit will be$20,200 and let’s assume that her annual deposit and salary will grow at a 2% annualrate over the remaining 7 years (8 total deposits) to Prof. Business’ retirement. Thesedeposits are in addition to the $640,000 she currently has today in the University retirement plan. Answer the following based on these assumptions.
a) How much money will Prof. Business have in her retirement account immediately after her last deposit 8 years from today?
b) What would be the equal annual payment from her 20-year retirement annuity whose first payment occurs exactly 8 years from today?
In: Finance
The university claims that the average cost of accommodation(μo) within five kilometers is 2000 JD per academic year. A university student is preparing her budget for her first year at the university. She is concerned that the university’s estimate is too low. Having taken AP statistics, she decides to perform the following test of Hypothesis; Ho: μ = 2000 JD Ha: μ ˃ 2000 JD (a)- Describe the type I and type II for this problem (b)- Which of the two errors I or II has more serious consequences for the student, and Why?
Subject: Probability and statistics
In: Statistics and Probability
Java Programing
Write a program called reverseProg.
This program will do the following
Sample output example:
Enter a string: Wilmington University
String Entered is: Wilmington University
Wilmington University spelled backward is: ytsirevinU notgnimliW
The 7th character in the string is: T
The 8th character in the string is: O
The 9th character in the string is: N
Length of the string is: 21
In: Computer Science