***SHOW SPSS**

A researcher is interested to learn if there is a linear relationship between the hours in a week spent exercising and a person’s life satisfaction. The researchers collected the following data from a random sample, which included the number of hours spent exercising in a week and a ranking of life satisfaction from 1 to 10 ( 1 being the lowest and 10 the highest).

1. Find the mean hours of exercise per week by the participants.
2. Find the variance and standard deviation of the hours of exercise per week by the participants.
3. Run a bivariate correlation to determine if there is a linear relationship between the hours of exercise per week and the life satisfaction. Report the results of the test statistic using correct APA formatting.
4. Run a linear regression on the data. Report the results, using correct APA formatting. Identify the amount of variation in the life satisfaction ranking that is due to the relationship between the hours of exercise per week and the life satisfaction (Hint: the R² value)
5. Report a model of the linear relationship between the two variables using the regression line formula.

1. 5 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.

1. Perform a Two-way analysis of variance (ANOVA) and report the results using correct APA style; report whether significance was found for Factor A, Factor B, and/or an interaction between Factors A and B was found.
2. If the test statistic is significant, run a post hoc test to determine between what groups significance was found.
3. Report an effect size for all significant results.

A “friend” borrows your favorite compass and paints the entire needle red. You discover this when you are lost in a cave and have with you two flashlights, a few meters of wire, and (of course) your physics textbook. How might you discover which end of your compass needle is the north-seeking end?

What is Cramer's V for each of the following values for the chi-square test for independence? (Round your answers to two decimal places.)

(a) X2 = 7.95, n = 130, df smaller = 2 V =

(b) X2 = 4.14, n = 60, df smaller = 1 V =

(c) X2 = 12.66, n = 190, df smaller = 3 V =

(C programming) Use a one-dimensional array to solve the following problem. Read in 20 numbers, each of which is between 10 and 100, inclusive. As each number is read, print it only if it’s not a duplicate of a number already read. Provide for the “worst case” in which all 20 numbers are different. Use the smallest possible array to solve this problem.

Your solution must include a function called isUnique() that returns 1 (true) if the number input is unique and 0 (false) otherwise . The implementation of this function must follow AFTER the implementation of main () in your .c file.

Output should be look like:

TEST SET 1

1 unique number

===============

Enter # 1 : 9

The number enetered is not in the valid range of 10 to 100

Enter # 1 : 101

The number enetered is not in the valid range of 10 to 100

Enter # 1 : 10

The number: 10 is unique

Enter # 2 : 10

Enter # 3 : 10

Enter # 4 : 10

Enter # 5 : 10

Enter # 6 : 10

Enter # 7 : 10

Enter # 8 : 10

Enter # 9 : 10

Enter # 10 : 10

Enter # 11 : 10

Enter # 12 : 10

Enter # 13 : 10

Enter # 14 : 10

Enter # 15 : 10

Enter # 16 : 10

Enter # 17 : 10

Enter # 18 : 10

Enter # 19 : 10

Enter # 20 : 10

All of the unique numbers found are:

  10

TEST SET 2

20 unique numbers

=================

Enter # 1 : 10

The number: 10 is unique

Enter # 2 : 20

The number: 20 is unique

Enter # 3 : 30

The number: 30 is unique

Enter # 4 : 9

The number enetered is not in the valid range of 10 to 100

Enter # 4 : 101

The number enetered is not in the valid range of 10 to 100

Enter # 4 : 40

The number: 40 is unique

Enter # 5 : 50

The number: 50 is unique

Enter # 6 : 60

The number: 60 is unique

Enter # 7 : 70

The number: 70 is unique

Enter # 8 : 80

The number: 80 is unique

Enter # 9 : 90

The number: 90 is unique

Enter # 10 : 100

The number: 100 is unique

Enter # 11 : 95

The number: 95 is unique

Enter # 12 : 85

The number: 85 is unique

Enter # 13 : 75

The number: 75 is unique

Enter # 14 : 65

The number: 65 is unique

Enter # 15 : 55

The number: 55 is unique

Enter # 16 : 45

The number: 45 is unique

Enter # 17 : 35

The number: 35 is unique

Enter # 18 : 25

The number: 25 is unique

Enter # 19 : 15

The number: 15 is unique

Enter # 20 : 11

The number: 11 is unique

All of the unique numbers found are:

  10  20  30  40  50

  60  70  80  90  100

  95  85  75  65  55

  45  35  25  15  11

4. a. Calculate nominal GDP for 2014 and 2015.

b. Calculate the percentage change in GDP from 2014 to 2015, first using 2014 prices and then using 2015 prices.

c. Calculate the percentage change in real GDP from 2014 to 2015, using your answers from part (b).

d. What is the GDP deflator for 2015 if it equals 1.0 in 2014?

5 Given the information in the following table for three consecutive years in the U.S. economy, calculate the missing data.

6. Look at two scenarios, details of which are provided below, for monthly inventories and sales for a company producing cereal. In both scenarios, the company’s sales are the same.

a.Calculate the inventory investment during each month and the resulting stock of inventory at the beginning of the following month for both scenarios.

b.Does maintaining constant production lead to greater or lesser fluctuations in the stock of inventory? Explain.

Assignment 1 (assessment worth 10%)
Due Date Monday 8^th May by 5pm GMT+8

[Submission will be strictly observed. Make submission via Turnitin]

Question 1

An Australian investor holds a one month long forward position on USD. The contract calls for the investor to buy USD 2 million in one month’s time at a delivery price of $1.4510 per USD. The current forward price for delivery in one month is F= $1.5225 per USD. Suppose the current interest rate interest is 5%. What is the value of the investor’s position?

Question 2

A speculator can choose between buying 100 shares of a stock for $40 per share or buying 1000 European call options on the stock with a strike price of $45 for $4 per option. For the second alternative to provide a superior payoff to the first alternative at option maturity, must the stock price be above $50 or below $50 explain?

Question 3

Explain in detail the difference between the following terms:

(a) Intrinsic value of an option.

(b) Price of an option.

(c) Exercise price of an option.

7. Use the substitution & method of INSERT command to populate EMP_PROJ table. INSERT INTO EMP_PROJ VALUES (‘&empNo’, ‘&projNo’, &hoursWorked); NOTE: enclose &empNo in ‘ ‘ if the datatype is a string – VARCHAR2 or CHAR If empNo is NUMBER datatype then do not enclose &empNo in ‘ ‘!

Seastrand Oil Company produces two grades of gasoline: regular and high octane. Both gasolines are produced by blending two types of crude oil. Although both types of crude oil contain the two important ingredients required to produce both gasolines, the percentage of important ingredients in each type of crude oil differs, as does the cost per gallon. The percentage of ingredients A and B in each type of crude oil and the cost per gallon are shown.

Crude Oil   Cost   Ingredient A   Ingredient B
1   $0.10   20%   60%
2   $0.15   50%   30%
Each gallon of regular gasoline must contain at least 40% of ingredient A, whereas each gallon of high octane can contain at most 50% of ingredient B. Daily demand for regular and high-octane gasoline is 900,000 and 700,000 gallons, respectively. How many gallons of each type of crude oil should be used in the two gasolines to satisfy daily demand at a minimum cost? Round your answers to the nearest whole number. Round the answers for cost to the nearest dollar.

gallons of crude 1 used to produce regular   =  
gallons of crude 1 used to produce high-octane   =  
gallons of crude 2 used to produce regular   =  
gallons of crude 2 used to produce high-octane   =  
Cost   =   $

The Classic Pen Company Case

Jane Dempsey, controller of the Classic Pen Company, was concerned about the recent financial trends in operating results. Classic Pen had been the low-cost producer of traditional BLUE pens and BLACK pens. Profit margins were over 20% of sales.

Several years earlier Dennis Selmor, the sales manager, had seen opportunities to expand the business by extending the product line into new products that offered premium selling prices over traditional BLUE and BLACK pens. Five years earlier RED pens had been introduced, which required the same basic production technology but could be sold at a 3% premium. And last year PURPLE pens had been introduced because of the 10% premium in selling price they could command.

But Dempsey had just seen the financial results (see Exhibit 1) for the most recent fiscal year and was keenly disappointed.

The new RED and PURPLE pens do seen more profitable than our BLUE and BLACK pens, but overall profitability is down and even the new products are not earning the margins we used to see from our traditional products. Perhaps this is the tougher global competition I have been reading about. At least the new line, particularly PURPLE pens, is showing much higher margins. Perhaps we should follow Dennis' advice and introduce even more specialty colored pens. Dennis claims that consumers are willing to pay higher prices for these specialty colors.

Jeffrey Donald, the manufacturing manager, was also reflecting on the changed environment at Classic Pen:

Five years ago, life was a lot simpler. We produced just BLUE and BLACK pens in long production runs, and everything ran smoothly, without much intervention. Difficulties started when the RED pens were introduced and we had to make more changeovers. This required us to stop production, empty the vats, clean out all remnants of the previous color, and then start the production of the red ink. Making black ink was simple; we didn't even have to clean out the residual blue ink

Professor Robert S. Kaplan prepared this case as the basis for class discussion rather than to illustrate either effective or ineffective handling of an administrative situation.

Classic Pen Company: Developing an ABC Model from the previous run if we just dumped in enough black ink to cover it up. But for the RED pens, even small traces of the blue or black ink created quality problems. And the ink for the new PURPLE pens also has demanding specifications, but not quite as demanding as for RED pens.

We seem to be spending a lot more time on purchasing and scheduling activities and just keeping track of where we stand on existing, backlogged, and future orders. The new computer system we got last year helped a lot to reduce the confusion. But I am concerned about rumors I keep hearing that even more new colors may be introduced in the near future. I don't think we have any more capability to handle additional confusion and complexity in our operations.

Operations

Classic produced pens in a single factory. The major task was preparing and mixing the ink for the different colored pens. The ink was inserted into the pens in a semiautomated process. A final packing and shipping stage was performed manually.

Each product had a bill of materials that identified the quantity and cost of direct materials required for the product. A routing sheet identified the sequence of operations required for each operating step. This information was used to calculate the labor expenses for each of the four products. All of the plant's indirect expenses were aggregated at the plant level and allocated to products based on their direct labor content. Currently this overhead burden rate was 300% of direct labor cost. Most people in the plant recalled that not too many years ago the overhead rate was only 200%.

Activity-Based Costing

Jane Dempsey had recently attended a seminar of her professional organization in which a professor had talked about a new concept, called activity-based costing (ABC). This concept seemed to address many of the problems she had been seeing at Classic. The speaker had even used an example that seemed to capture Classic's situation exactly.

The professor had argued that overhead should not be viewed as a cost or a burden to be allocated on top of direct labor. Rather, the organization should focus on activities performed by the indirect and support resource of the organization and try to link the cost of performing these activities directly to the products for which they were performed.

Dempsey obtained several books and articles on the subject and soon tried to put into practice the message she had heard and read about.

Activity-Based Cost Analysis

Dempsey first identified six categories of support expenses that were currently being allocated to pen production:

Expense Category                                     Expense

Indirect Labor…………………………………….. $20,000

Fringe Benefits……………………………………. 16,000

Computer Systems……………………………… 10,000

Machinery…………………………………………… 8,000

Maintenance………………………………………. 4,000

Energy ………………………………………………….2,000

Total…………………………………………………… $60,000

She determined that the fringe benefits were 40% of labor expenses (both direct and indirect) and would thus represent just a percentage markup to be applied on top of direct and indirect labor charges.

Dempsey interviewed department heads in charge of indirect labor and found that three main activities accounted for their work. About half of indirect labor was involved in scheduling or handling production runs. This included scheduling production orders, purchasing, preparing, and releasing materials for the production run, first-item inspection performed every time the process was changed over, and some scrap loss at the beginning of each run until the process settled down. Another 40% of indirect labor was required just for the physical changeover from one color pen to another.

The time to change over to BLACK pens was relatively short (about 1 hour) since the previous color did not have to be completely eliminated from the machinery. Other colors required longer changeover times; RED pens required the most extensive changeover to meet the demanding quality specification for this color.

The remaining 10% of the time was spent maintaining records on the four products, including the bill of materials and routing information, monitoring and maintaining a minimum supply of raw materials and finished goods inventory for each product, improving the production processes, and performing engineering changes for the products.

Dempsey also collected information on potential activity cost drivers for Classic's activities (see Exhibit 2) and the distribution of the cost drivers for each of the four products.

Dempsey next turned her attention to the $10,000 of expenses to operate the company's computer system. She interviewed the managers of the Data Center and the Management Information System departments and found that most of the computer's time (and software expense) was used to schedule production runs in the factory and to order and pay for the materials required in each production run.

Since each production run was made for a particular customer, the computer time required to prepare shipping documents and to invoice and collect from a customer was also included in this activity. In total, about 80% of the computer resource was involved in the production run activity. Almost all of the remaining computer expense (20%) was used to keep records on the four products, including production process and associated engineering change notice information.

The remaining three categories of overhead expense (machine depreciation, machine maintenance, and the energy to operate the machines) were incurred to supply machine capacity to produce the pens. The machines had a practical capability of 10,000 hours of productive time that could be supplied to pen production.

Dempsey believed she now had the information to estimate an activity-based cost model for Classic Pen.

Exhibit 1 Traditional Income Statement

                                      Blue           Black          Red          Purple       Total

Sales                          $ 75,000 $ 60,00 $13,950 $1,650    $150,600

Material Costs 25,000      20,000        4,680           550         50,230

Direct Labor 10,000        8,000          1,800          200          20,000

Overhead @300% 30,000      24,000        5,400          600           60,000

Total Operating Inc. $10,000       $8,000 $2,070 $300 $20,370

Return on Sales         13.6%        13.3%         14.8%        18.2%        13.5%

Exhibit 2 Direct Costs and Activity Cost Drivers

                                                     Blue            Black               Red           Purple         Total

Production Sales Volume 50,000         40,000            9,000 1,000        100,000

Unit Selling Price                        $1.50          $1.50 $1.55 $1.65

Materials-unit cost $0.50           $0.50             $0.52          $0.55

Direct labor hrs/unit 0.02             0.02               0.02             0.02            2,000

Machine hrs/unit 0.1                0.1                  0.1              0.1             10,000

Production runs 50                  50                 38               12                150

Setup time/run 4                    1                   6                  4

Total setup time 200                 50                 228             48                526

Parts Administration           1                   1                  1               1                 4

Answer the Following...

Describe the competitive situation in which CP finds itself. Why do you think the company ventured into new products?

What issues can you identify regarding the current cost system?

The Classic Pen Company Case

Jane Dempsey, controller of the Classic Pen Company, was concerned about the recent financial trends in operating results. Classic Pen had been the low-cost producer of traditional BLUE pens and BLACK pens. Profit margins were over 20% of sales.

Several years earlier Dennis Selmor, the sales manager, had seen opportunities to expand the business by extending the product line into new products that offered premium selling prices over traditional BLUE and BLACK pens. Five years earlier RED pens had been introduced, which required the same basic production technology but could be sold at a 3% premium. And last year PURPLE pens had been introduced because of the 10% premium in selling price they could command.

But Dempsey had just seen the financial results (see Exhibit 1) for the most recent fiscal year and was keenly disappointed.

The new RED and PURPLE pens do seen more profitable than our BLUE and BLACK pens, but overall profitability is down and even the new products are not earning the margins we used to see from our traditional products. Perhaps this is the tougher global competition I have been reading about. At least the new line, particularly PURPLE pens, is showing much higher margins. Perhaps we should follow Dennis' advice and introduce even more specialty colored pens. Dennis claims that consumers are willing to pay higher prices for these specialty colors.

Jeffrey Donald, the manufacturing manager, was also reflecting on the changed environment at Classic Pen:

Five years ago, life was a lot simpler. We produced just BLUE and BLACK pens in long production runs, and everything ran smoothly, without much intervention. Difficulties started when the RED pens were introduced and we had to make more changeovers. This required us to stop production, empty the vats, clean out all remnants of the previous color, and then start the production of the red ink. Making black ink was simple; we didn't even have to clean out the residual blue ink

Professor Robert S. Kaplan prepared this case as the basis for class discussion rather than to illustrate either effective or ineffective handling of an administrative situation.

Classic Pen Company: Developing an ABC Model from the previous run if we just dumped in enough black ink to cover it up. But for the RED pens, even small traces of the blue or black ink created quality problems. And the ink for the new PURPLE pens also has demanding specifications, but not quite as demanding as for RED pens.

We seem to be spending a lot more time on purchasing and scheduling activities and just keeping track of where we stand on existing, backlogged, and future orders. The new computer system we got last year helped a lot to reduce the confusion. But I am concerned about rumors I keep hearing that even more new colors may be introduced in the near future. I don't think we have any more capability to handle additional confusion and complexity in our operations.

Operations

Classic produced pens in a single factory. The major task was preparing and mixing the ink for the different colored pens. The ink was inserted into the pens in a semiautomated process. A final packing and shipping stage was performed manually.

Each product had a bill of materials that identified the quantity and cost of direct materials required for the product. A routing sheet identified the sequence of operations required for each operating step. This information was used to calculate the labor expenses for each of the four products. All of the plant's indirect expenses were aggregated at the plant level and allocated to products based on their direct labor content. Currently this overhead burden rate was 300% of direct labor cost. Most people in the plant recalled that not too many years ago the overhead rate was only 200%.

Activity-Based Costing

Jane Dempsey had recently attended a seminar of her professional organization in which a professor had talked about a new concept, called activity-based costing (ABC). This concept seemed to address many of the problems she had been seeing at Classic. The speaker had even used an example that seemed to capture Classic's situation exactly.

The professor had argued that overhead should not be viewed as a cost or a burden to be allocated on top of direct labor. Rather, the organization should focus on activities performed by the indirect and support resource of the organization and try to link the cost of performing these activities directly to the products for which they were performed.

Dempsey obtained several books and articles on the subject and soon tried to put into practice the message she had heard and read about.

Activity-Based Cost Analysis

Dempsey first identified six categories of support expenses that were currently being allocated to pen production:

Expense Category                                     Expense

Indirect Labor…………………………………….. $20,000

Fringe Benefits……………………………………. 16,000

Computer Systems……………………………… 10,000

Machinery…………………………………………… 8,000

Maintenance………………………………………. 4,000

Energy ………………………………………………….2,000

Total…………………………………………………… $60,000

She determined that the fringe benefits were 40% of labor expenses (both direct and indirect) and would thus represent just a percentage markup to be applied on top of direct and indirect labor charges.

Dempsey interviewed department heads in charge of indirect labor and found that three main activities accounted for their work. About half of indirect labor was involved in scheduling or handling production runs. This included scheduling production orders, purchasing, preparing, and releasing materials for the production run, first-item inspection performed every time the process was changed over, and some scrap loss at the beginning of each run until the process settled down. Another 40% of indirect labor was required just for the physical changeover from one color pen to another.

The time to change over to BLACK pens was relatively short (about 1 hour) since the previous color did not have to be completely eliminated from the machinery. Other colors required longer changeover times; RED pens required the most extensive changeover to meet the demanding quality specification for this color.

The remaining 10% of the time was spent maintaining records on the four products, including the bill of materials and routing information, monitoring and maintaining a minimum supply of raw materials and finished goods inventory for each product, improving the production processes, and performing engineering changes for the products.

Dempsey also collected information on potential activity cost drivers for Classic's activities (see Exhibit 2) and the distribution of the cost drivers for each of the four products.

Dempsey next turned her attention to the $10,000 of expenses to operate the company's computer system. She interviewed the managers of the Data Center and the Management Information System departments and found that most of the computer's time (and software expense) was used to schedule production runs in the factory and to order and pay for the materials required in each production run.

Since each production run was made for a particular customer, the computer time required to prepare shipping documents and to invoice and collect from a customer was also included in this activity. In total, about 80% of the computer resource was involved in the production run activity. Almost all of the remaining computer expense (20%) was used to keep records on the four products, including production process and associated engineering change notice information.

The remaining three categories of overhead expense (machine depreciation, machine maintenance, and the energy to operate the machines) were incurred to supply machine capacity to produce the pens. The machines had a practical capability of 10,000 hours of productive time that could be supplied to pen production.

Dempsey believed she now had the information to estimate an activity-based cost model for Classic Pen.

Exhibit 1 Traditional Income Statement

                                      Blue           Black          Red          Purple       Total

Sales                          $ 75,000 $ 60,00 $13,950 $1,650    $150,600

Material Costs 25,000      20,000        4,680           550         50,230

Direct Labor 10,000        8,000          1,800          200          20,000

Overhead @300% 30,000      24,000        5,400          600           60,000

Total Operating Inc. $10,000       $8,000 $2,070 $300 $20,370

Return on Sales         13.6%        13.3%         14.8%        18.2%        13.5%

Exhibit 2 Direct Costs and Activity Cost Drivers

                                                     Blue            Black               Red           Purple         Total

Production Sales Volume 50,000         40,000            9,000 1,000        100,000

Unit Selling Price                        $1.50          $1.50 $1.55 $1.65

Materials-unit cost $0.50           $0.50             $0.52          $0.55

Direct labor hrs/unit 0.02             0.02               0.02             0.02            2,000

Machine hrs/unit 0.1                0.1                  0.1              0.1             10,000

Production runs 50                  50                 38               12                150

Setup time/run 4                    1                   6                  4

Total setup time 200                 50                 228             48                526

Parts Administration           1                   1                  1               1                 4

Answer the Following...

Describe the competitive situation in which CP finds itself. Why do you think the company ventured into new products?

What issues can you identify regarding the current cost system?