All work needs to be shown

Consider all observations as one sample of X (1st column) and Y (2nd column) values. Answer the following questions: (20 points)

a) Calculate the correlation coefficient r

b) Fit the regression model (predicting Y from X) and report the estimated intercept and slope.

c) Test whether the slope equals 0. Report your hypothesis, test statistic, p-value.  

All work needs to be shown

10. Ms. McNicholas wants to see if there is any difference in the Final Exam scores of her two Statistics classes. Class I 81 73 86 90 75 80 75 80 75 81 85 87 83 75 70 65 80 76 64 74 86 80 83 67 82 78 76 83 71 90 77 81 82 Class II 87 77 66 75 78 82 82 71 79 91 97 89 92 75 89 75 95 84 75 82 74 77 87 69 96 65 a) Find the five-number summary for each class. b) Construct a boxplot for each class. c) Determine the range for outliers on each graph. d) Is there a difference in the performance of the two classes?

   Ovservation   Portland   Houston   Jacksonville  
   1 85 71 64  
   2 75 75 69  
   3 82 73 67  
   4 76 74 74  
   5 71 69 80  

6 85 82 72

National Bearings manufactures bearings at plants located in Portland Oregon, Houston Texas, and Jacksonville Florida. To measure employee knowledge of Total Quality Management (TQM), six employees were randomly selected at each plant and tested. The test scores for these employees are given in DATA. Managers want to know if, on average, knowledge of TQM is equal across the 3 plants. Test equality of mean scores at Alpha = 0.05 .

What is the F value? p value? F critical value?

Do we reject equality mean or not? Is knowledge of TQM equal across all 3 plants or not?

Here is a simple probability model for multiple-choice tests. Suppose that each student has probability p of correctly answering a question chosen at random from a universe of possible questions. (A strong student has a higher p than a weak student.) The correctness of answers to different questions are independent. Jodi is a good student for whom p = 0.8.

(a) Use the Normal approximation to find the probability that Jodi scores 74% or lower on a 100-question test. (Round your answer to four decimal places.)

(b) If the test contains 250 questions, what is the probability that Jodi will score 74% or lower? (Use the normal approximation. Round your answer to four decimal places.)

(c) How many questions must the test contain in order to reduce the standard deviation of Jodi's proportion of correct answers to half its value for a 100-item test?

The Complete Accounting Cycle

On April 1, Mr. Oscar Matthews Opened up Oscar’s Home R & M, as a sole proprietor. During April he completed the following transactions:

April    1        Invested $40,000 cash in the business.

2        Purchased a lightly used pickup truck for $25,000, paying $6,000 cash and the balance on account.

3        Purchased supplies for $5,100 on account.

5        Paid $2,400 cash on a 1-year insurance policy effective April 1.

12        Billed customers $6,400 for home repair and maintenance services.

18        Paid $4,000 cash on amount owed on van and $2,100 on amount owed on supplies.

20        Paid $4,000 cash for employee salaries and wages.

21        Collected $4,000 cash from customers billed on April 12.

25        Billed customers an additional $8,000 for services.

30        Paid $400 for the monthly gasoline bill for the van.

30        Withdrew $1,800 cash for personal use.

Instructions:

This project, which must be completely typewritten, covers the entire accounting cycle. (Blank accounting forms may be downloaded from the blackboard). Hand written (in whole or in part) submittals will not be accepted and will receive a grade of zero.

1. Journalize and post the April transactions shown above.
2. Journalize and post the following adjustments:
   1. Unbilled and uncollected revenue for services performed on April 30 were $3,500.
   2. Depreciation on equipment for the month was $400.
   3. Expired insurance (hint: think).
   4. An inventory count shows $1,000 of supplies on hand on April 30.
   5. Accrued but unpaid employee salaries were $1,000.

1. Submit: 1. Adjusted Balance Sheet. 2. Income Statement. 3. Balance Sheet

Journalize the entries for the following transactions. Refer to the Chart of Accounts for exact wording of account titles. (Note: The company uses a clearinghouse to take care of all bank as well as non-bank credit cards used by its customers. )

CHART OF ACCOUNTSGeneral Ledger

Journalize the entries for the transactions on December 31. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

1. Cost curve estimation.  You and a group of 9 investors are interested in opening up a relatively large wholesale craft brewery operation to sell and ship specialty beers via the internet. Customers are primarily bars and restaurants. Part of your business plan involves assessing them most cost-efficient volume of beer to produce and distribute each year. To this end, you contacted several brewers associations, consulted with experts in the business, reviewed trade journals and collected estimates of total expenditures for a large set of breweries across the United States and Canada. These data are reported in column’s A and B of the “beer production costs” spreadsheet ( see below).   Q1: Use this data to estimate a cost curve and then Put your regression results in cell H2.