Question:

1. Assume the data in tab 11.a (Cancer mortality) represent data on cancer mortality rates for the communities in your hospital's service area. Perform a statistical test to determine if the average cancer mortality in the rural communities is different from the average mortality in the urban communities. (Assume the mortality rates are normally distributed.) Offer an interpretation of your results. Remember to describe the mean cancer mortality rates. (4 points)
2. Does this problem call for a one-tailed test or a two-tailed test? (1 point)
3. Using the data in tab 11.b (Weight loss), test whether the average weight of patients attending your new weight loss clinic has changed as a result of attending the clinic. That is, is the average weight of patients after attending the clinic different from the average weight before attending? Report the average weight of these patients before and after attending the clinic and interpret the results of the statistical test(s) performed. (5 points)
4. Apply the appropriate t-test to compare the mean time required to process clinical records before and after the introduction of a new method for this work. Note, assume the same records were processed before and after the introduction of the new procedure. Using data in Tab 12. (Processing time), evaluate the following:
5. Test whether the intervention designed by a clever intern to reduce the time required to process billing forms made a difference. (That is, test whether the mean processing time after the intervention is different from the mean before the intervention.) Report your results and offer an interpretation of the statistical test(s) performed. (5 points)
6. Would your conclusion be different if you were asked to test whether mean processing time after the intervention was less than mean processing time before the intervention? Describe how you interpret your results under these conditions. (Hint: this is a one-tailed problem.) (5 points)
7. Choose the appropriate t-test for your evaluation and decide if each hypothesis requires a one- or a two-tailed test. Assume the data in Tab 13.(ER Wait times) are the time spent waiting to be seen by a physician for two groups of patients. One group were considered to have true emergencies and the other group were triaged as requiring only urgent care.
8. Test the hypothesis that the time spent waiting does not depend on the reason for admission to the ER (true emergency v. needing urgent care). Report your results and interpret the statistical test. Does this hypothesis call for a two-tailed test or a one-tailed test? (5 points)
9. Test the hypothesis that waiting time for patients with true emergencies was less than the waiting time for patients only needing urgent care. (Note the specific hypothesis to be tested here.) Interpret the results of the proper statistical test and justify your answer. Does this hypothesis call for a one-tailed or a two-tailed test? Please justify your answer.

PLEASE USE DATA BELOW

ER waiting time:

Type of visit:

Urgent   Emergency
29 33
30 43
32 26
31 46
22 31
26 40
30 34
38 4
29 30
28 24
29 40
38 32
30 36
43 31
23 45
32 20
25 31
32 42
30 29
32 40
35 34
34 44
29 9
21 25
29 29
31 34
36 28
14 37
31 18
36 38
29
48
36
49
28
39
34
37
34
42

The pure expectations theory of interest rates will hold true over the next seven (7) years...... Arguing FOR the topic.

A study is conducted to assess whether residents in City A spent a different out-of-pocket amount on prescription medications from residents in City B last year. The study is restricted to residents who are 50 years of age or older. Residents are selected at random. For each resident, the total amount of dollars spent on prescription medications over the last year is recorded. The summary statistics of the sample data are given in the table below.

Let μ1 be the mean out-of-pocket amount that residents in City A spent, and μ2 be the mean out-of-pocket amount that residents in City B spent. Run a two-sample t-test assuming equal variances. Use a significance level of 0.05.

City Sample size Sample mean Sample standard deviation

A 40 381 39 B 52 422 45

1. Write down the null hypothesis. (5 points)

2. Write down the alternative hypothesis. (5 points)

3. Calculate the point estimate for μ1 − μ2. (5 points)

4. Calculate the pooled sample variance. (10 points)

5. Calculate the standard error of the point estimate in c. (10 points)

6. Calculate the test statistic. (10 points)

7. Find out the critical value. (5 points)

8. Is there a statistically significant difference in the out-of-pocket amount spent on prescription medications between City A and City B? (5 points)

Panther City has two major sources of revenues, property tax and sales tax, which are billed according to the schedule at the top of the next page. Traditionally, property tax revenue have been received in cash according to the following schedule:

• 30 percent one month following the billing date 20 percent in second month
• 20 percent in third month
• 9 percent in fourth month
• 8 percent in fifth month
• 6 percent in sixth month
• 7 percent are not collected

The state collects the sales tax revenues and will transfer cash to the city on March 1, 2018, for the sales tax revenues earned in the last quarter of 2017.

Panther City is not planning any capital asset purchases during the next three months. Monthly cash disbursements for general operations are $3,500,000. Beginning cash balance for January 1, 2018, is $600,000. Panther City will borrow to ensure that the ending cash balance each month is at least $200,000.

Use this information to prepare a monthly cash budget for Panther City for January, February, and March of 2018.

A small toy store has organized its 10 inventory items on an annual dollar-volume basis. The information below shows the items, their annual demands, and unit costs. How should the store classify these items into groups A, B, and C?

Item Number       Annual Volume (Units)         Unit Cost ($)

Item 1                                   300                                    $10

Item 2                                 1000                                    $30

Item 3                                   500                                    $60

Item 4                                   100                                      $2

Item 5                                 1500                                    $20

Item 6                                   600                                    $50

Item 7                                 2000                                 $1.50

Item 8                                   900                                    $70

Item 9                                 1200                                 $2.00

Item 10                                 700                                    $40

Please use the Excel Solver to solve the above exercise question

Production/Cost Exercises
1. The following is a short-run production table for a firm with labor as its only variable input.
Wage = $ 200
Capital = 100 units
Capital Price= $40
Product Price= $120

a. Determine the following measures at all levels of output:
MPL, APL, TFC, TVC, TC, TR, AVC, ATC, AFC, MC, PROFIT
b. At what level of output is the profit maximized?
c. What kind of observations can you make about MC, price, average total cost, and profit?

Your firm is considering extending its operations by building a new plant, which will require an initial investment of $500M. You have determined that the new division will have a 50% chance of generating an annual free cash flow of $120M in perpetuity, a 40% chance of an annual cash flow of $75M in perpetuity and a 10% chance that the division will generate zero (0) cash. Your firm uses 30% debt and 70% equity to finance its operations. Its current equity beta is 2.2. The market risk premium (rm-rf) is 7% and the Treasury bill rate is 3%. The cost of debt is 8%.

The tax rate is 25%. What is the discount rate for the project? Should your firm build the new plant?

9. Generate a random number between 1 and 8, which is the computer’s number. Ask the user to guess a number between 1 and 8. Write a sentinel-controlled loop to continue to executed until the user’s guess matches the computer’s number. If the user's guess matches the random number, print a message in green on the SenseHat congratulating the user and then break out of the loop. Otherwise, print a message in red on the SenseHat to ask the user to try again.

10. Write nested for loops that print out the value of each index for each iteration through the loop. The first loop should start at 1 and end at 3 and the second loop should start at 10 and end at 1.

11. Create a grocery store application. Prompt the user to input the number of the number of items, name of the item, and the price each. Use a while with sentinel control to exit the loop when the user enters a number of items less than or equal to 0. At each iteration of the loop, compute the cost of the items as the number of items times the price each. Print out the name of the item and the cost formatted with seven spaces and two decimal places of precision at each iteration. (Hint: Use a priming read for the number of items before you enter the while loop. Within the loop read in the name of the item and the price each and perform the calculation of the cost. Add a loop read that will read in the number of items at the end of the loop code.)

12. Modify the grocery store application in problem 11 to compute the accumulated cost of all items purchased. Prompt the user for the sales tax rate. Compute the sales tax as the sales tax rate times the accumulated cost. Compute the total cost as the accumulated cost plus the sales tax. Print out the total cost formatted with seven spaces and two decimal places of precision.

1. A researcher is interested in studying the effect that the amount of fat in the diet and amount of exercise has on the mental acuity of middle-aged women. The researcher used three different treatment levels for the diet and two levels for the exercise. The results of the acuity test for the subjects in the different treatment levels are shown below.

Describe two real life companies that you believe has a "High Fixed Cost Structure" and one that you believe has a "Low Fixed Cost Structure". Explain why you came to this conclusion. Then describe what would happen to your companies' net income if

a) in one year they were able to double their sales

b) in one year their sales would drop by 50%.