1. A group of doctors is deciding whether or not to perform an operation. Suppose the null hypothesis, H₀, is: the surgical procedure will go well. State the Type I and Type II errors in complete sentences, and explain which is the error with the greater consequence and why.

2.

An article posted on your college's website claims that 12% of the students at the school use marijuana. You randomly sample 140 students, and 12 students reply that they do indeed use marijuana. You want to conduct a hypothesis test at a 5% level of significance.

What should your conclusion be?

Discuss these questions relative to the purchased product. Your answers should align with how these stages are done based on the consumer decision model in text. My video provides a better discussion.

Questions  each = 5 pts

1. How did you recognize that you needed the product?
2. Where or how you search for information on alternative products that would satisfy this need (product)?
3. What alternatives did the search process generate and what variables did you use to make the final decision to buy?
4. Where did you buy the product and why?
5. Were you satisfied after using or consuming the product? Explain.
6. There are 5 categories of influences as outlined by your text:economic, psychological. social, culture and ethnicity, purchase situation. Which one(s) do you think had the greatest effect on your purchasing decision? Please explain.  

NOTE: There are actually six questions you have to answer in this assignment. Don't forget to answer about the categories of influences.

Do NOT write an essay. Simply copy the questions and write your answers below them.

Stacking pennies to the moon

1. Estimate how many pennies it would take to stack them from the earth to the moon. Give your answer in 1000s of dollars.
2. How much would all of these pennies weigh? Give your answer in tons.
3. Why did I ask you to estimate instead of giving an exact answer?

Be sure to state your assumptions and define your estimations. Include justification for these.

Use these facts (do not look up additional facts to help):

• Moon is about 238,900 miles (mi) away.
• Penny is 1.52 millimeters (mm) thick.
• There are 25.4 mm in an inch (in).
• There are 5,280 feet (ft) in a mile (mi).
• A penny weighs 2.5 grams (gm) or 0.088 ounces (oz)
• There are 16 ounces in a pound (LB)

What you should be paying attention to in order to earn a good grade:

• Of course, accuracy
• Units: You should have the unit of measurement for each measured value.
• Labels: You should label your steps; tell me what you are doing in each particular step. For example, one step might read, “I am finding how many pennies are in an inch.” I am not looking for a step by step explanation of operators (I multiplied, then I added), but the meaning of each step in the context of the problem.
• Make sure that you are using proper mathematical notation in the appropriate context. Be especially careful with the equal symbol: The expressions on either side of an equal symbol should be equal and have the same units.
• Use complete sentences in #3.
• Remember, this is about expression of a logical thought process with correct mathematical notation, so that anyone (even someone who does not know how to do this problem) could follow it and learn from it.

You might want to have someone else read it after you are done to make sure that your process is clear.

Patriot Co. manufactures and sells three products: red, white, and blue. Their unit selling prices are red, $20; white, $35; and blue, $65. The per unit variable costs to manufacture and sell these products are red, $12; white, $22; and blue, $50. Their sales mix is reflected in a ratio of 5:4:2 (red:white:blue). Annual fixed costs shared by all three products are $250,000. One type of raw material has been used to manufacture all three products. The company has developed a new material of equal quality for less cost. The new material would reduce variable costs per unit as follows: red, by $6; white, by $12; and blue, by $10. However, the new material requires new equipment, which will increase annual fixed costs by $50,000. Required: 1. Assume if the company continues to use the old material, determine its break-even point in both sales units and sales dollars of each individual product. (Round composite units up to next whole number.)

Income tax rates schedule “ (1) for the Personal Income Tax Net income which does not exceed 300,000 baht 5 percent Net income which only the amount in excess of    300,000 baht but not exceeding    500,000 baht 10 percent Net income which only the amount in excess of    500,000 baht but not exceeding    750,000 baht    15 percent Net income which only the amount in excess of    750,000 baht   but not exceeding 1,000,000 baht   20 percent Net income which only the amount in excess of    1,000,000 baht but not exceeding 2,000,000 baht     25 percent Net income which only the amount in excess of    2,000,000 baht but not exceeding 5,000,000 baht 30 percent       Net income which only the amount in excess of    5,000,000 baht 35 percent   (the Revenue Code as amended by the Revenue Code Amendment Act (No. 45) B.E.2560) which is applicable for assessable income in the tax year 2560 which tax return shall be filed in 2561 onwards) “ (2) for the Corporate Income Tax “ (a) The tax on net profits of a company or juristic partnership is 20 percent” (Amended by the Revenue Code Amendment Act (No.42) B.E. 2559 (2016) which is applicable for the accounting periods on or after 1 january B.E. 2559 (2016)) “(b) The tax under section 70 not specified in (c) is 15 percent” “(c) The tax under section 70 specified in the case of the payment of assessable income under section 40(4)(b) is 10 percent (d) The tax under section 70 Bis is 10 percent” (Amended by the Revenue Code Amendment Emergency Decree (No.16) B.E. 2534 (1991) which has come into force as from 1 may B.E. 2535 (1992)) “(e) The tax on revenue before deducting any expense of a foundation or association which carries on business that produces revenue not be revenue under section 65 Bis (13) is 10 percent” (Amended by the Revenue Code Amendment Emergency Decree (No.16) B.E. 2534 (1991) which is applicable for the accounting periods on or after 1 january B.E. 2535 (1992))

PRACTICE: Mr. A = Man = husband = employee Mrs. B = Woman = wife = entrepreneur Both are married with 2 children aged 15 and 13. In the year 2017, Mr. A worked as a teacher earning a salary of 50,000 baht per month. The wife engaged in real estate sales brokerage as an entrepreneur and earned a commission of 2.5% on each sale. For the entire 2017, Mrs. B earned 500,000 Baht in commission from real estate sales. The couple paid 5,000 each for life insurance premium. Mrs. B also paid 1,000 Baht per month on health insurance for herself. The couple made a contribution of 5,000 Baht per month to retirement account under Mr. A's name because his employer has a individual retirement account. In the middle of 2017, the couple rented their condo for 10,000 Baht per month. The money from rent was put into a savings account earning 2.5% interest. Each year in December, the couple attend the Red Cross fund raising event. In 2017, the couple donated 50,000 Baht to the Red Cross. QUESTION: What is the income tax liability for the couple if they file a joint return?

Witholding form

https://drive.google.com/file/d/1uVdK6lnPASeZj2DC-9OQRNnYyi4u5Epy/view?usp=drivesdk

Personal income tax https://drive.google.com/file/d/1Vhn1jm6eo7uKSP74CNa2z0OixIUd5-FX/view?usp=drivesdk

QUESTION TWO

Consider the model:                                     Yi=β1+β2X1+Ui

1. Explain all the terms included in the model above
2. Given the model above, state the way econometricians proceed in their analysis of an economic problem?     
3. Explain the importance of Ui in this model?What are the four reasons for the inclusion of this error term in the regression model?
4. What is the difference between the disturbance term and the residual term?
5. Explain the meaning of statistical inference?
6. State the ten assumptions of the classical linear regression model and give algebraic illustrations [ if applies]
7. State the Gauss-Markov theorem.
8. Consider the regression models below, indicate which ones are linear in parameters or variables or both:

1. Yi=β1+1β2Xi+ui                                                                           
2. Yi=β1+1β2Xi2+ui

1. A random number generator claims to randomly choose real numbers between 0 and 3000. (a) If this is true, what kind of distribution would the randomly chosen numbers have? (b) What would be the mean of this distribution? (c) What would be the standard deviation of this distribution? (d) Say we take a sample of 65 generated numbers and obtain a sample mean of 1552. What do we know about the sampling distribution of the sample mean and how do we know this? (e) Give a 99% confidence interval about the population mean. (f) In a sentence or two, state what the 99% confidence interval from(e) tells us. (g) Suppose that we do not know the population standard deviation and, instead,the sample standard deviation is s = 822. What is the confidence interval about the population mean using the sample standard deviation? Compare this to your answer in part (e).

Question 4                                                                       

1. Concerned for the current state of the Australian economy the Reserve Bank of Australia (RBA) has decided to reduce interest rates. Describe the mechanism that the RBA will undertake to achieve this outcome.
2. Explain how this reduced interest rate will transmit through the economy.
3. What do you think would be the impact on the economy of this policy if the velocity component of the quantity theory of money equation M*V=P*Q was much slower than anticipated?
4. What would be the likely affect if the RBA misjudged the state of the economy and it was closer to full employment than anticipated? A diagram would assist your answer here and attract more marks.

1. Concerned for the current state of the Australian economy the Reserve Bank of Australia (RBA) has decided to reduce interest rates. Describe the mechanism that the RBA will undertake to achieve this outcome.
2. Explain how this reduced interest rate will transmit through the economy.
3. What do you think would be the impact on the economy of this policy if the velocity component of the quantity theory of money equation M*V=P*Q was much slower than anticipated?
4. What would be the likely affect if the RBA misjudged the state of the economy and it was closer to full employment than anticipated? A diagram would assist your answer here and attract more marks.

1. Concerned for the current state of the Australian economy the Reserve Bank of Australia (RBA) has decided to reduce interest rates. Describe the mechanism that the RBA will undertake to achieve this outcome.
2. Explain how this reduced interest rate will transmit through the economy.
3. What do you think would be the impact on the economy of this policy if the velocity component of the quantity theory of money equation M*V=P*Q was much slower than anticipated?
4. What would be the likely affect if the RBA misjudged the state of the economy and it was closer to full employment than anticipated? A diagram would assist your answer here and attract more marks.