An article describes several studies of the failure rate of defibrillators used in the treatment of heart problems. In one study conducted by the Mayo Clinic, it was reported that failures were experienced within the first 2 years by 17 of 89 patients under 50 years old and 16 of 359 patients age 50 and older who received a particular type of defibrillator. Assume it is reasonable to regard these two samples as representative of patients in the two age groups who receive this type of defibrillator.

(a) Construct a 95% confidence interval for the proportion of patients under 50 years old who experience a failure within the first 2 years after receiving this type of defibrillator. (Round your answers to three decimal places.)
(  ,  )

Interpret the interval.

We are confident that the proportion of all patients under 50 years old who experience a failure within the first two years after receiving this type of defibrillator is within this interval at least 95% of the time.We are 95% confident that the proportion of all patients under 50 years old who experience a failure within the first two years after receiving this type of defibrillator is within this interval.    We are 95% confident that the proportion of all patients who experience a failure after receiving this type of defibrillator is within this interval.We are confident that 95% of all patients under 50 years old who experience a failure within the first two years after receiving this type of defibrillator are within this interval.

(b) Construct a 99% confidence interval for the proportion of patients age 50 and older who experience a failure within the first 2 years after receiving this type of defibrillator. (Round your answers to three decimal places.)
(  ,  )

Interpret the interval.

We are confident that 99% of all patients age 50 or older who experience a failure within the first two years after receiving this type of defibrillator is within this interval.We are confident that the proportion of all patients age 50 or older who experience a failure within the first two years after receiving this type of defibrillator is within this interval at least 99% of the time.    We are 99% confident that the proportion of all patients age 50 or older who experience a failure within the first two years after receiving this type of defibrillator is within this interval.We are 99% confident that the proportion of all patients who experience a failure after receiving this type of defibrillator is within this interval.

(c) Suppose that the researchers wanted to estimate the proportion of patients under 50 years old who experience a failure within the first 2 years after receiving this type of defibrillator to within 0.03 with 95% confidence. How large a sample should be used? Use the results of the study as a preliminary estimate of the population proportion. (Enter your answer as a whole number.)
patients

A survey was conducted to determine whether hours of sleep per night are independent of age. A sample of individuals was asked to indicate the number of hours of sleep per night with categorical options: fewer than 6 hours, 6 to 6.9 hours, 7 to 7.9 hours, and 8 hours or more. Later in the survey, the individuals were asked to indicate their age with categorical options: age 39 or younger and age 40 or older. Sample data follow.

(a)

Conduct a test of independence to determine whether hours of sleep are independent of age.

(b)

What is your estimate of the percentages of individuals who sleep fewer than 6 hours, 6 to 6.9 hours, 7 to 7.9 hours, and 8 hours or more per night?

Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, the accounting records for the most popular item in inventory showed the following:

Required:

b. & c. Compute the amount of ending inventory and cost of goods sold at December 31, under Average cost, First-in, first-out, Last-in, first-out and Specific identification inventory costing methods. For Specific identification, assume that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1.

You are hired by a local company to determine if people feel more confident in the provincial or federal government. You ask several people who live in St Catharines how confident they are that the provincial government is doing a good job (out of 50, higher numbers are better). You then ask them about their confidence in the federal government and get the following data. What would you conclude?

You are responsible for developing a supervisory training programme for a company. The following table shows the relationships between the activities that must be completed, along with estimates of the durations in days.

Table 1: Activity Times and Predecessors

Required
(a) Draw the activity network for this problem (either AON or AOA)
(b) Determine the Expected Time and Variance for each activity (show in a table).
Round off times to two decimal places where fractional.
(c) Show the activity schedule (ES, EF, LS, LF) as well as slack (in table).
(d) Determine and state the critical path for this project. This must be based on
your work in c) and not by inspection.
(e) What are the expected time and the variance of the project?
(f) What is the probability the project will be finished within 49 days?
(g) What time should be set such that there is a 99% chance of completion?
(h) What is the probability the project will take between 45 and 50 days?

Hypoglycemia is a condition in which blood sugar is below normal limits. To compare the effectiveness of two compounds, new and old, for treating hypoglycemia, each compound is applied to half the diaphragms of each of seven mice. Blood glucose uptake in milligrams per gram of tissue is measured for each half producing the results listed below. Do the data provide sufficient evidence to indicate that the new compound tends to produce at least 2 more milligrams blood sugar uptake than the old compound? Blood sugar uptake is known to follows a symmetric distribution.

Mouse: 1 2 3 4    5    6 7

New compound: 5.25 3.16 4.43 6.12 5.75 2.21 7

Old compound: 7.83 6.22 7.46 8.83 8.19 5.64 8.88

(a) Justify your choice of method in (b) below.

(b) Set up an appropriate hypothesis and perform the proper test ( a = 0.05)

Five years ago a XYZ stock paid a $1.15 dividend. Since then it has split two for one once and three for two twice. XYZ current earnings per share are $1.15, and the plowback ratio is 50%. The dividends are expected to grow with their historical rate for the next three years. Beginning year four, XYZ return on equity is expected to be 9%. If the firm’s appropriate discount rate is 13.5% what the stock price should be?

Five years ago a XYZ stock paid a $1.15 dividend. Since then it has split two for one once and three for two twice. XYZ current earnings per share are $1.15, and the plowback ratio is 50%. The dividends are expected to grow with their historical rate for the next three years. Beginning year four, XYZ return on equity is expected to be 9%. If the firm’s appropriate discount rate is 13.5% what the stock price should be?

Question 6

Undocumented workers:

are not subject to the protections of federal anti-discrimination laws.

have no legal employment rights per case law.

may be granted citizenship if an employer discriminated against them.

treated the same as other employees and able to pursue their legal claims.

Question 7

The subminimum wage provision:

guarantees all employees must be paid the current federal minimum wage.

allows certain workers with disabilities (with DOL certification) and students employed at colleges and universities (payment at 85 percent of the minimum wage is allowed with DOL certification) to be paid less than current federal minimum wage.

requires employers to pay time and a half to all employees who work more than 40 hours in a work week.

protects employees for predatory employers who seek to pay less then minimum wage in poverty-stricken areas of the country.

  Question 8

Employees who are paid a salary:

are never paid an overtime pay rate because they are considered management.

are required to earn overtime if they work more than 50 hours in a week.

may be paid overtime based on the results of the “salary level test”.

must be paid every two weeks and earn extra paid time off related to the number of hours over 40 they work each week.

Question 9

Employers offering unpaid internships should:

give interns a W-4 so they can deduct the time spent working on their federal taxes.

have a college oversee it and offer academic credit.

change to paid internships only to avoid FLSA violations.

only hire students age 16 – 18, while they are in high school

1.As the use of gold as currency became more standardized, what happened to the gold trade?

a.)The dollar's convertibility was suspended.

b.)Banks printed paper money to represent a specific amount of gold in the vault.

c.)Americans lost faith in their currency and hoarded gold.

d.)Gold held little practical value other than as jewelry.

2.What is the central issue that causes bank runs and panics?

a.)Banks withhold deposits from creditors

b.)Banks fail to pay interest to their depositors

c.)Banks print more money than they have gold in their vaults

d.)Banks do not loan out enough funds to stimulate the economy

3.Before a Central Bank was established in the United States, people known as __________ were able to buy and sell the monies from individual states.

a.)federal funds traders

b.)currency traders

c.)the Board of Governors

d.)equity salesmen

4. Which of the following statements regarding central banks is true?

a.)Central banks require greater reliance on the gold standard.

b.)Central banks undermine international trade.

c.)A central bank controls the state and local bank locations and number of branches.

d.)A central bank has the sole authority with respect to the money supply.

5.Which statement below is true about the discount rate?

a.)It is the interest rate that the federal government pays to the public via the sale of Treasury securities.

b.)This is the rate used when banks borrow directly from the Fed.

c.)It is the same as the fed funds rate.

d.)It is the rate that banks charge other banks to loan money overnight.