The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell sweatshirts bearing the name and mascot of the local high school. These sweatshirts would have to be ordered from the manufacturer six weeks in advance, and they could not be returned because of the unique printing required. The sweatshirts would cost Hooper $23.00 each with a minimum order of 240 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 50. Since Hooper’s plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $46.00 each. Hooper would pay the students a commission of $5.00 for each shirt sold. Required: 1. What level of unit sales and dollar sales is needed to attain a target profit of $10,800? 2. Assume that Hooper places an initial order for 240 sweatshirts. What is his break-even point in unit sales and dollar sales?

The first six exercises refer to the table of estimated regressions on page 246, computed using data for 2012 from the CPS. The data set consists of information on 7440 full-time, full-year workers. The highest educational achievement for each worker was either a high school diploma or a bachelor’s degree. The workers’ ages ranged from 25 to 34 years. The data set also contains information on the region of the country where the person lived, marital status, and number of children. For the purposes of these exercises, let

AHE = average hourly earnings (in 2012 dollars)
College = binary variable (1 if college, 0 if high school)
Female = binary variable (1 if female, 0 if male)
Age = age (in years)
Ntheast = binary variable (1 if Region = Northeast, 0 otherwise) Midwest = binary variable (1 if Region = Midwest, 0 otherwise) South = binary variable (1 if Region = South, 0 otherwise)
West = binary variable (1 if Region = West, 0 otherwise)

7.1 Add * (5%) and ** (1%) to the table to indicate the statistical significance of the coefficients.

3. A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch. For the current period, unprocessed wheat was purchased for $230,000, and the following quantities of product and sales revenues were produced.

How much of the $230,000 cost should be allocated to flour if the value basis is used?

6.

Canfield Technical School allocates administrative costs to its respective departments based on the number of students enrolled, while maintenance and utilities are allocated per square feet of the classrooms. Based on the information below, what is the total amount allocated to the Welding Department (rounded to the nearest dollar) if administrative costs for the school were $66,000, maintenance fees were $28,000, and utilities were $7,600?

Sonia is 9 years old, and she reports feeling lonely all the time. She seems to be isolated from her peers and reports feeling different from everyone around her. She says that she does not like the feeling of being vulnerable and has a hard time opening up to others. She reports hating school and only wants to stay at home with her mother. She cries every morning when her mother gets her ready for school. She will also cry each time the teacher indicates that the next upcoming subject is math. Sonia's parents are concerned for their daughter and are unable to ask for assistance because of a language barrier.

Identify the challenges that the student, family, or individual client may be experiencing, based on your specialization.

Identify any psychosocial conflicts that may be present and the transitions related to middle childhood that may be considered.

Choose one theory of personality development and explain how that theory helps you understand this student's behavior.

Describe specific ways of helping the student, family, or individual client from your professional perspective.

Scott and Allison are married and file a joint tax return. Scott is a graduate student who works part time and earned $15,000 in 2015. He is not eligible to participate in his employer’s retirement plan because he is a part-time worker. Allison is a high school teacher who earned $60,000 in 2015 and is an active participant in the school district’s retirement plan. Assume you are a financial planner and the couple asks for your advice. Based on the preceding facts, answer each of the following questions.

a. Is Scott eligible to establish and deduct contribu-tions to a traditional IRA? Explain your answer.

b. Is Allison eligible to establish and deduct contributions to a traditional IRA? Explain your answer.
c. Assume that Scott graduates and the couple’s modi-fied adjusted gross income is $130,000 in 2015. Both Scott and Allison participate in their employers’ retirement plans. Can either Scott or Allison, or both, establish a Roth IRA? Explain your answer.
d. Explain to Scott and Allison the advantages of a Roth IRA over a traditional IRA.

Reflecting on resources you locate in the professional literature, consider the types of career-planning information and resources you might draw from when exploring career-related issues with clients and students.

For this discussion, imagine that you are working with a 17-year-old adolescent and his family. They have come to see you because the teen is not attending school regularly and states that he intends to drop out because school is boring and he wants to start working and be treated like an adult. His parents state that they are willing to treat him like an adult if he prepares for his future appropriately and can demonstrate that he will be able to find a job he enjoys and earn enough income to support himself. He is not sure what kind of career path he would like to follow and would consider vocational training.

1) As the counselor, what knowledge about career and educational planning do you need to begin your work with this teen?

2) How would you go about locating resources that would be helpful for the teen and his family?

> Toastmasters International cites a report by Gallup Poll that 40% of Americans fear public speaking. A student believes that less than 40% of students at her school fear public speaking. She randomly surveys 361 schoolmates and finds that 144 report they fear public speaking. Conduct a hypothesis test at the 5% level to determine if the percent at her school is less than 40%.

> Note: If you are using a Student's t-distribution for the problem, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption, though.)
> A. State the distribution to use for the test. (Round your answers to four decimal places.)
> B. What is the test statistic? (If using the z distribution round your answers to two decimal places, and if using the t distrib
> C. What is the p-value? (Round your answer to four decimal places.)
> D. Construct a 95% confidence interval for the true proportion. Label the point estimate and the lower and upper bounds of the confidence interval. (Round your answers to four decimal places.)

Question 1: A school is considering two videos for a class. Students have been randomly assigned to 2 groups, and they all take the same written test after watching the video. The scores are summarized below:

Video 1: sample mean = 77, sample standard deviation = 6.3, sample size = 29
Video 2: sample mean = 78, sample standard deviation = 6.8, sample size = 28

Conduct an analysis to determine whether there is a difference in the test scores for the two videos. Provide the test statistics value for the analysis.

Question 2: A school is considering two videos for a class. Students have been randomly assigned to 2 groups, and they all take the same written test after watching the video. The scores are summarized below:

Video 1: sample mean = 78, sample standard deviation = 7.5, sample size = 29
Video 2: sample mean = 79, sample standard deviation = 6.9, sample size = 28

Conduct an analysis to determine whether there is a difference in the test scores for the two videos. Provide the degrees of freedom.

You plan to be a doting grandparent for your three adorable yet unborn tots (you love to plan ahead). You plan on setting up a trust fund to pay for their undergraduate educations. The fund will be set up to pay each little one $260,000 for the first year of school, then increase at 4% per year through graduation. Assume the grandkids graduate after 4 years. The oldest tot begins school in 35 years; the second one starts three years later and the last little one starts two years after the second. You have set aside $100,000 thus far. You earn 6% on your investments. Next year’s salary is expected to be $180,000. What fraction of your salary must you set aside if you get raises of 2% per year to make your vision a reality? You start your savings based on income one year from now and you make your last payment on the first grandchild’s first day at college.