The U.S. Bureau of Labor Statistics released hourly wage figures for various countries for workers in the manufacturing sector. The hourly wage was $30.67 for Switzerland, $20.20 for Japan, and $23.82 for the U.S. Assume that in all three countries, the standard deviation of hourly labor rates is $3.00.

Appendix A Statistical Tables

a. Suppose 37 manufacturing workers are selected randomly from across Switzerland and asked what their hourly wage is. What is the probability that the sample average will be between $30.00 and $31.00?

b. Suppose 36 manufacturing workers are selected randomly from across Japan. What is the probability that the sample average will exceed $21.00?

c. Suppose 47 manufacturing workers are selected randomly from across the United States. What is the probability that the sample average will be less than $22.95?

(Round the values of z to 2 decimal places. Round your answers to 4 decimal places.)

Large Sample Proportion Problem.  Surveys were conducted in multiple countries and respondents were asked if they felt political news was reported fairly. The data for the United States is that out of 1,000 sampled, 470 indicated yes, they felt political news was reported fairly. Suppose we want to determine if the proportion for the U.S. is below .50 for an alpha level of .05.

What is conclusion of my test?

Group of answer choices

I would reject Ho: P=.5 because the test statistic is less than -1.645

I would fail to reject Ho: P=.5 because the p-value is greater than .05

I would reject Ho: P=.5 because the test statistic is greater than 1.645

I would fail to reject Ho: P=.5 because the test statistic is greater than -1.96

Royal Minty of Britain has purchased 20,000 ounces of silver from Silver Products at US$8.30, payable in 180 days. The current spot rate is 1.8127 ($US/£) and the 180-day forward is 1.7863. The CEO at Royal Minty suggests that the spot rate in six months time will be 1.7915.

Interest rates in Britain are currently 4.70 percent for 180 days and 1.15 percent in the United States.

a-1. Calculate the receipts if Royal Minty takes a chance on the spot rate. (Round the final answer to the nearest whole pound.)

Receipts           £

a-2. Calculate the receipts if Royal Minty books a forward contract. (Round the final answer to the nearest whole pound.)

Receipts           £

a-3. Calculate the receipts if Royal Minty buys a money market hedge. (Round intermediate calculations and the final answer to the nearest whole pound.)

Receipts           £   

b. Not available in Connect.

The U.S. Bureau of Labor Statistics released hourly wage figures for various countries for workers in the manufacturing sector. The hourly wage was $30.67 for Switzerland, $20.20 for Japan, and $23.82 for the U.S. Assume that in all three countries, the standard deviation of hourly labor rates is $3.00.

Appendix A Statistical Tables

a. Suppose 41 manufacturing workers are selected randomly from across Switzerland and asked what their hourly wage is. What is the probability that the sample average will be between $30.00 and $31.00?
b. Suppose 32 manufacturing workers are selected randomly from across Japan. What is the probability that the sample average will exceed $21.00?
c. Suppose 50 manufacturing workers are selected randomly from across the United States. What is the probability that the sample average will be less than $23.00?

(Round the values of z to 2 decimal places. Round your answers to 4 decimal places.)

Neiman Marcus Group is one of the largest luxury fashion retailers in the world. Kohls Corporation sells moderately priced private and national branded products through more than 1100 department stores located throughout the United States. The current assets and current liabilities at the end of a recent year for both companies are as follows. (in millions)

                                                                Neiman Marcus ------------------Kohl's

Current assets:                                                                                                        

Cash                                                                          $ 197 ----------------$1407

Inventories                                                                 1,069 ----------------3,814

Other current assets                                                    144 ------------------477

    Total Current assets:                                           $ 1,410------------------ $ 5,698

Current Liabilities:

Accounts payable                                                   $ 375 ---------------------$ 1,511

Other current liabilities                                               482---------------------- 1,348

    Total Current Liabilities:                                    $ 857-------------------------- $ 2,859

A. Would an analysis of working capital between the two companies be meaningful?

B. Compute the quick ratio for both companies. Round to nearest decimal.

C. Interpret and explain the results.

The following table lists balance of payment current accounts for Country A. Current Accounts 1. Exports of goods, services, and income $172,578 2. Goods, adjusted, excluding military $96,743 3. Services 48,889 4. Income receipts on U.S. assets abroad 33,921 5. Imports of goods, services, and income −152,536 6. Goods, adjusted, excluding military −85,707 7. Services −33,289 8. Income payments on foreign assets in the United States −36,740 9. Unilateral transfers, net −9,581

                                Chapter 1 of the Communist Manifesto

                                                         by Karl Marx

Please type out answers to the following questions:

For Marx the struggle was between what two groups throughout history?

Who are the two classes Marx identifies in modern society?

How have the bourgeoisie changed the nature of exploitation?

List at least two things that the bourgeoisie has changed in society, according to Marx.

What replaced feudal relations of property?

How has the bourgeoisie contributed to their own demise, according to Marx?

Who does Marx think will ultimately prevail?

In 1 to 2 double spaced, typed pages (paragraph form) answer the following:

Do you think a proletariat revolution is likely in the United States or other industrialized, capitalist countries? Why or why not? Do you think a proletariat revolution would be a good thing? Why or why not?  

Assume you will start a new restaurant and rent space for your business in a strip mall or 3-story office building in Fairfax County, Virginia. Pick a name for your business consistent with your business form. You would like to start a Limited Liability Company (LLC). Assume you will be an owner and an employee of your business. Explain the following:

Your business has expanded overseas to the country of Belai. During a visit to your overseas location you find out for the first time that children, ages 10 and under, are working for you. You know child labor is against the law in the United States, but it is completely legal in Belai where your business is operating. Replacing the children with adults, would cost twice as much. What ethical issues does this raise for you and how will your business go about solving them?

2. Data for the average cost of a major remodeling job nearly 20 years ago in 11 selected US cities were captured and are shown below: City Average Cost Atlanta, GA $20,427 Boston, MA 27,255 Des Moines, IA 22,115 Kansas City, MO 23,256 Louisville, KY 21,887 Portland, OR 24,255 Raleigh-Durham, NC 19,852 Reno, NV 23,624 Ridgewood, NJ 25,885 San Francisco, CA 28,999 Tulsa, OK 20,836 a. Under what circumstances could a t-test be used to determine whether the mean cost of remodeling a kitchen in the United States was greater than $25,000? b. What is the name of an alternative nonparametric test? Specify the null and alternative hypotheses of the test. c. Conduct the test in part b using α = .05. Interpret your results in the context of the problem.