Ivanhoe provides testing services to school districts that wish to assess students’ reading and mathematical abilities. Last year Crane evaluated 30,000 math tests and 10,000 reading tests. An income statement for last year follows.

(a)

What is Ivanhoes breakeven point in sales dollars?

Are you smarter than a second-grader? A random sample of 60 second-graders in a certain school district was given a standardized mathematics skills test. The sample mean score is x=52 Assume the standard deviation test scores is 15. The nationwide average score on this test is 50.

A. State the appropriate null and alternate hypothesis

B. Compute the value of the test statistic

C. State a conclusion. Use the 0.01 level of significance

Please show work and do NOT use MINITLAB if possible

The school paper claims that 35% of students have credit card debt. But one thinks it’s more. simple random sample “196” students and “78,” say that they have credit card debt.

Is there sufficient evidence at the 5% significance level (α = .05) to indicate that the percent of students with credit card debt is more than 35%

Show all work (or explain what is plug into the calculator). Use specific wording.

Ho:

Ha:

Test statistic:

p-value:

Statistical conclusion:

Conclusion in plain English:

1. Cigarette and Marijuana Use.  Below are data on cigarette and marijuana use among high school students in Dayton, Ohio.

1. Write the null and alternative hypotheses for the association between cigarette use and marijuana use. (4 points)
2. How many people would you expect to use both cigarettes and marijuana if the null hypothesis were true? HINT: take a look at the notes for determining expected cell count (2 points)
3. Calculate the p value for the chi squared test of independence for these 2 variables. (2 points)
4. Is cigarette use associated with marijuana use? Explain your answer.  (2 points)

I want to find out what the undergraduate student body thinks about the school proposal to reallocate funds marked for academic development (hiring more faculty/adding more classes) towards the expansion of the Campus Gym. So I head over to Campus Gym and set up a booth next to the entrance of the building. I ask everyone who passes by whether or not they support the proposal, and get 500 responses.

1. Will my sampling scheme lead to sampling bias? Will it lead to sampling variability? Explain.  
2. Do you think that the sample statistics from this study will closely approximate the population parameters? If not, use two or more terms that we have learned in this course to tell me what is wrong with my sampling scheme. (These terms should not include “sampling bias” or “sampling variability.”)

I want to find out what the undergraduate student body thinks about the school proposal to reallocate funds marked for academic development (hiring more faculty/adding more classes) towards the expansion of the Campus Gym. So I head over to Campus Gym and set up a booth next to the entrance of the building. I ask everyone who passes by whether or not they support the proposal, and get 500 responses.

1. Will my sampling scheme lead to sampling bias? Will it lead to sampling variability? Explain.  
2. Do you think that the sample statistics from this study will closely approximate the population parameters? If not, use two or more terms that we have learned in this course to tell me what is wrong with my sampling scheme. (These terms should not include “sampling bias” or “sampling variability.”)

Reba Dixon is a fifth-grade school teacher who earned a salary of $38,200 in 2018. She is 45 years old and has been divorced for four years. She receives $1,295 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,500 of rental payments from tenants and she incurred $19,695 of expenses associated with the rental.

Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather’s support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,200 to move their personal belongings, and she and Heather spent two days driving the 1,464 miles to Georgia.

Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January at a nearby university. She was awarded a $3,190 partial tuition scholarship this year, and Reba helped out by paying the remaining $690 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses.

Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $5,990 in state income taxes and $12,690 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather:

Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $1,090 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn’t able to work for two months after the accident. Fortunately, she received $2,190 from her disability insurance. Her employer, the Central Georgia School District, paid 60% of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40% portion.

A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,390 of interest income from corporate bonds and $1,690 interest income from the City of Denver municipal bonds. Overall, Reba’s stock portfolio appreciated by $12,190 but she did not sell any of her stocks.

Heather reported $6,580 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather’s only source of income for the year.

Reba had $10,000 of federal income taxes withheld by her employer. Heather made $1,000 of estimated tax payments during the year. Reba did not make any estimated payments. Reba had qualifying insurance for purposes of the Affordable Care Act (ACA).

a. Determine Reba’s federal income taxes due or taxes payable for the current year. Use Tax Rate Schedule for reference. (Round your intermediate computations and final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

b. Is Reba allowed to file as a head of household or single?

c. Determine the amount of FICA taxes Reba was required to pay on her salary. (Round your final answer to the nearest whole dollar amount.)

d. Determine Heather’s federal income taxes due or payable. Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference.  (Round your intermediate computations and final answer to the nearest whole dollar amount.)

Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2018. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental.

Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather’s support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,010 to move their personal belongings, and she and Heather spent two days driving the 1,426 miles to Georgia.

Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January at a nearby university. She was awarded a $3,000 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses.

Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $5,800 in state income taxes and $12,500 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather:

Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $900 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn’t able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60% of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40% portion.

A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest income from City of Denver municipal bonds. Overall, Reba’s stock portfolio appreciated by $12,000 but she did not sell any of her stocks.

Heather reported $6,200 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather’s only source of income for the year.

Reba had $10,000 of federal income taxes withheld by her employer. Heather made $1,000 of estimated tax payments during the year. Reba did not make any estimated payments. Reba had qualifying insurance for purposes of the Affordable Care Act (ACA).

a. Determine Reba’s federal income taxes due or taxes payable for the current year. Use Tax Rate Schedule for reference. (Round your intermediate computations and final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

The Yum and Yee food truck near the business school serves customers during lunch hour by taking orders and making fresh batches of stir-fry. Customers have only one choice during the lunch hour so that Y&Y can maximize the number of customers served. Assume that each customer places just one lunch order, and all lunch orders are the same size: one unit of stir-fry. The stir-fry cooking works in this manner. First, one person cooks a batch of orders in a wok. The cooking depends upon the number of orders in the batch. The time to cook just one order is 3.4 minutes. For each additional order in the batch, it takes 0.4 minute more to cook. Thus, cooking two orders in a batch takes 3.8 minutes, cooking three orders takes 4.2 minutes, and so on. The other process is bagging and accepting payments (done by a separate person), which takes 0.7 minute per order.

a.What is the Setup time

b.If Y&Y operates with bath sizes of 7 units, what is their process capacity (in orders per minute)?

c.If Yum an Yee operates with batch sizes of 12 units, what is the utilization of the wok?

d. Calculate the batch size (in orders) that maximizes the overall flow rat (assume there is ample demand)? Do NOT round the batch size (i.e., assume for this calculation that a noninteger batch size is possible.

The Yum and Yee food truck near the business school serves customers during lunch hour by taking orders and making fresh batches of stir-fry. Customers have only one choice during the lunch hour so that Y&Y can maximize the number of customers served. Assume that each customer places just one lunch order, and all lunch orders are the same size: one unit of stir-fry. The stir-fry cooking works in this manner. First, one person cooks a batch of orders in a wok. The cooking depends upon the number of orders in the batch. The time to cook just one order is 3 minutes. For each additional order in the batch, it takes 0.5 minute more to cook. Thus, cooking two orders in a batch takes 3.5 minutes, cooking three orders takes 4 minutes, and so on. The other process is bagging and accepting payments (done by a separate person), which takes 0.80 minute per order.

a. What is the setup time of this process?

b. If Y&Y operates with batch sizes of 6 units, what is their process capacity (in orders per minute)?

c. If Yum and Yee operates with sizes of 10 units, what is the utilization of the work (assume there is sample demand)?

d. Calculate the batch size (in orders) that maximizes the overall flow rate (assume these is sample demand)?