Cars on Campus. Statistics students at a community college wonder whether the cars belonging to students are, on average, older than the cars belonging to faculty. They select a random sample of 11 cars in the student parking lot and find the average age to be 7.5 years with a standard deviation of 5.6 years. A random sample of 20 cars in the faculty parking lot have an average age of 4.2 years with a standard deviation of 4 years.

1. The null hypothesis is H0:μs=μfH0:μs=μf. What is the alternate hypothesis?
A. HA:μs>μfHA:μs>μf
B. HA:μs<μfHA:μs<μf
C. HA:μs≠μfHA:μs≠μf

2. Calculate the test statistic.  ? z t X^2 F  =

3. Calculate the p-value for this hypothesis test.
p value =

4. Suppose that students at a nearby university decide to replicate this test. Using the information from the community college, they calculate an effect size of 0.72. Next, they obtain samples from the university student and faculty lots and, using their new sample data, conduct the same hypothesis test. They calculate a p-value of 0.0149 and an effect size of 0.423. Do their results confirm or conflict with the results at the community college?
A. It can neither confirm or contradict the community college results because we don't know the sample sizes the university students used.
B. It contradicts the community college results because the p-value is much bigger
C. It confirms the community college results because the p-value is much smaller.
D. It confirms the community college results because the effect size is nearly the same.
E. It contradicts the community college results because the effect size is much smaller.

Anabelle is the Facilities Manager for a university. She is considering an opportunity that involves renting food vending machines and placing them in various locations throughout the university. This would allow students and staff to conveniently access a quick range of similarly priced food items for snacking “pick-me-up” purposes. (Assume a non-COVID-19 state of affairs on campus.) As a not-for-profit university, the main aim is to cover all costs. If any profits are made, they will be used to boost student support services.

For the purposes of analysing this opportunity, Anabelle has the following estimates:

Per unit (food item) forecasts:

Average selling price of each food item:                 $2.00

Average variable cost of each food item:                $1.60

Annual fixed cost forecasts:                                        

Rental                                                   $12,000

Labour                                                  $10,000

Other fixed expenses                     $2,000

Anabelle has asked you to undertake a cost-volume-profit analysis of the opportunity.

a) Calculate the contribution per unit and the contribution margin ratio.

b) Calculate the break-even point in number of food items and in dollars of revenue.

c) Calculate the sales (in units) needed to earn a target annual profit of $2,000

d) The vending machine owner initially offered Anabelle a fixed rental fee option. However, the owner has since provided another rental agreement option: a $9,000 fixed rental plus 2.5% of revenues from the sale of food items. Calculate the break-even point in units under this option and briefly explain from the university’s perspective which rental agreement option might be preferred. Your explanation should not exceed 100 words.

In a telephone survey completed in the Spring of 2014, a randomly selected number of USadults were asked the question “Is there solid evidence that the earth has been warming?”They were also asked their political party preference. The following is a partial summary of the results.

1. What is the sample proportion for adults who prefer the Republican party who wouldanswer “Yes” to the question?

   What is the approximate standard error for the sampling distribution of sample proportions for this group of Republicans?

   What is the margin of error for a 95% confidence interval?

   What is a 95% confidence interval for the percent of all adults who prefer the Republican party who would answer “Yes” to the question?

2. What is the sample proportion for adults who prefer the Democratic party who wouldanswer “Yes” to the question?

   What is the approximate standard error for the sampling distribution of sample proportions for this group of Democrats?

   What is the margin of error for a 95% confidence interval?

What is a 95% confidence interval for the percent of all adults who prefer the Democratic party who would answer “Yes” to the question?

c. Looking at separate confidence intervals is generally not a good method for making a conclusion. For this part you will compute a 95% confidence interval for the difference in the population proportions for Republicans and Democrats, by completing the following steps:

Calculate the sample difference in proportions, ?̂? − ?̂?.
Calculate the approximate standard error, s, of the sampling distribution for differences in

sample proportions.

Calculate a 99% confidence interval for the difference in the population proportions,?? −??.

In terms a non-statistics person would understand, interpret your 99% confidence interval, explaining what it tells us about the proportions of Republicans and Democratswho would answer “Yes” to the question.

7. Mr Slumber Kotoko was a full-time employee of Bank of Botswana earning P200, 000.00 per year when he decided to enrol for a four year course at the University of Botswana. He can only earn P70 000.00 per year as a part time worker. What is the opportunity cost of going to University for Mr Kotoko over the four year period

2. Expected Utility Theory

An individual goes to the store to buy a new iClicker for $40. The clerk at the store tells the individual that the same iClicker is on sale for $20 across campus. The individual goes to the other store. The same individual goes to the store to buy a new computer for $600. The clerk at the store tells the individual the same computer is on sale at the same store across campus for $580. The student does not go. Is this consistent with expected utility theory? Why or why not

CP8-4 Accounting for Accounts and Notes Receivable Transactions [LO 8-2, LO 8-3]

[The following information applies to the questions displayed below.]

1.)

The time college students spend on the internet follows a Normal distribution. At Johnson University, the mean time is 5.5 hours per day with a standard deviation of 1.1 hours per day.

1. If 100 Johnson University students are randomly selected, what is the probability that the average time spent on the internet will be more than 5.8 hours per day?
   Round to 4 places.  
   
2. If 100 Johnson University students are randomly selected, what is the probability that the average time spent on the internet is between 5.3 hour and 5.8 hours?
   Round to 4 places  
   
3. If 100 Johnson University students are randomly selected, what mean number of hours on the internet per day separated the bottom 33% and top 67% of internet usage for college students?  
   hours per day. Round to 2 places.

2.)

A manufacturer knows that their items have a normally distributed lifespan, with a mean of 10.1 years, and standard deviation of 0.5 years.

If 19 items are picked at random, 3% of the time their mean life will be less than how many years?

Give your answer to one decimal place.