You are a researcher interested in asking the following research question:

In what ways do afterschool leadership programs help middle school students gain leadership skills?

There are many different ways you could approach this research, but you narrow it down to two different options, described below.

Option 1: You select five different afterschool leadership programs. You visit each program for a week, during which time you conduct a set of hour-long interviews with three program staff members and an hour-long focus group of five youth participants.

Option 2: You select one afterschool leadership program. You work as a staff member at that program twice a week for the entire school year. You document your observations in field notes after each session.

a. Compare options 1 and 2 in terms of the research approach. What are advantages and disadvantages of each option from a research methods perspective? Explain your answer.

b. Discuss one ethical concern and compare options 1 and 2 in terms of this concern in the research approach. Explain your answer.

c. If you were conducting this research, which option would you prefer to use? Explain your answer.

A paper investigated the driving behavior of teenagers by observing their vehicles as they left a high school parking lot and then again at a site approximately

mile from the school. Assume that it is reasonable to regard the teen drivers in this study as representative of the population of teen drivers.

(a) Use a .01 level of significance for any hypothesis tests. Data consistent with summary quantities appearing in the paper are given in the table. The measurements represent the difference between the observed vehicle speed and the posted speed limit (in miles per hour) for a sample of male teenage drivers and a sample of female teenage drivers. (Use μ_males − μ_females. Round your test statistic to two decimal places. Round your degrees of freedom down to the nearest whole number. Round your p-value to three decimal places.)

(b) Do these data provide convincing support for the claim that, on average, male teenage drivers exceed the speed limit by more than do female teenage drivers?

YesNo     

The Department of Labor is the sole federal agency that monitors child labor and enforces child labor laws.  The most sweeping federal law that restricts the employment and abuse of child workers is the Fair Labor Standards Act (FLSA).  Child labor provisions under FLSA are designed to protect the educational opportunities of youth and prohibit their employment in jobs that are detrimental to their health and safety.  FLSA restricts the hours that youth under 16 years of age can work and lists hazardous occupations too dangerous for young workers to perform.  Enforcement of the FLSA’s child labor provisions is handled by the Department’s Wage and Hour Division.  Child labor laws on Federal and state levels exist to prevent the exploitation of minors for labor, and ensure that education is prioritized over work.  Limitations on child labor vary by age, and may include restrictions on the types of work that can be done, maximum hours that may be worked, and limitations on late or overnight work.  In the state of Ohio minors under 16 can work 8 hours  per day, 40 per week when school is out.  During a school week, 3 hours of work are permitted per day and up to 18 hours per week.  Ohio has no restrictions on maximum working hours for minors aged 16 and 17.

Please elaborate more on this topic

Required information

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

Multiple Choice

• H₀: μ ≤ 6.7 ; H₁: μ > 6.7

• H₀: μ = 6.7 ; H₁: μ ≠ 6.7

• H₀: μ > 6.7 ; H₁: μ = 6.7

• H₀: μ ≥ 6.7 ; H₁: μ < 6.7

Multiple Choice

• Reject H₀ if z < -1.645

• Reject H₁ if z > -1.645

• Reject H₀ if z > -1.645

• Reject H₁ if z < -1.645

Multiple Choice

• Reject H₀

• Cannot reject H₀

3.27. Problem. (Section 11.5) The following are applications of Theorem 11.6 or the Central Limit Theorem.

(a) Determine the distribution of (1/5)X₁ + (2 /5)X₂ + (2/5)X₃ if X₁, X₂ and X₃ are independent normal distributions with µ = 2 and

σ = 3.

(b) The weight (kg) of a StarBrite watermelon harvested under certain environmental conditions is normally distributed with a mean of 8.0 with standard deviation of 1.9. Suppose 24 StarBrite watermelons grown in these conditions are harvested; compute the probability that the average weight of all 24 watermelons is less than 7.8 kg/fruit

(c) A study of elementary school students reports that the mean age at which children begin reading is 5.7 years with a standard deviation of 1.1 years. If 55 elementary school students are selected at random, approximate the probability that the average age at which these 55 children begin reading is at least 6.

(d) Let the random variable X be defined as the number of pips that show up when a fair, six-sided die is rolled. The mean and standard deviation of X can be shown to be µX = 3.5 and σX = 1.71, respectively. If 100 fair, six-sided dice are rolled, aproximate the probability that the mean of number of pips on the 100 dice is less than 3.25

Rita has recently returned to college and started taking night classes. After high school, she started working full-time in a law firm to make money, gain experience, and see if she would be interested in pursuing law school. She works full-time during the day and lives at home with her parents. Rita’s night classes are long, and she is usually very tired from her workday when she gets to class. All Rita can seem to do is sit back in her lectures and take notes. She feels too tired to ask questions and participate in class activities. She knows that class participation counts for 20 percent of her grade in one class. Rita knows she can pass the class with at least a C by doing this, but it is not her best effort. She is trying to get good grades now so that when she applies to law school, she will have a competitive GPA. Rita wants to get A’s in her classes.

Question 1:What is NOT one of Rita’s challenges in this situation?

Question 2:

What strategies should Rita NOT use in the classroom?

5. Doogie lives for four periods. He has just completed the first period of his life (by getting his

high school diploma). Doogie is trying to decide on his future career path. He’s very good at

opening things up and fixing them, so he has narrowed his options to two possible paths. He will

either become an auto mechanic or a brain surgeon.

•If Doogie becomes an auto mechanic, he will earn $25,000 as an apprentice in

period 2, $50,000 as a solo mechanic in period 3, and $75,000 as a master

mechanic (with apprentice) in

period 4.

•If Doogie becomes a brain surgeon, he will pay $50,000 to attend college in

period 2, another $75,000 to attend medical school in period 3, and will earn

$300,000 in period 4.

Doogie must make all tuition payments at the beginning of each period, he is paid at the end of

every period, and he can borrow and lend at a rate of 8% per period.

a. What is the present discounted value (PDV) of Doogie’s possible career paths? If Doogie wants to maximize the PDV of his lifetime earnings, which career should he choose?

b. Would Doogie’s choice change if he was making his decision at birth? Would the PDV (present discounted value) of his earnings streams be different at birth? Would Doogie’s evaluation of this investment change if he started life with a trust fund of $1 million? Explain. (Assume that Doogie’s high school education in period 1 is necessary for both career paths and is costless.)

c. How would your answer change if Doogie could work for an additional 10 periods after period 4? How would your answer change if the discount rate decreased? (Answer intuitively in terms of whether the surgery track becomes relatively more or less attractive).

d. The actual lifetime earnings of brain surgeons are much higher than those of auto mechanics, yet we observe that the number of auto mechanics is much greater than the number of brain surgeons. How can the human capital model explain these patterns?

By the time 14-year-old Jake got home from school he was sick enough for his mom to notice. He seemed shaky and confused. He was sweaty even though it was cool fall weather. “Jake let’s get you a glass of juice right away,” his mother said in a calm manner. She was very familiar with the symptoms. Jake was diagnosed with diabetes at age 6. His mother was very familiar with monitoring his insulin, eating, and exercise. Now that Jake was in middle school he was taking on more of his own monitoring, but he seemed to mess up often.

“Yeah, I know I shouldn’t have waited so long to eat,” Jake muttered once he was feeling better. “Mom, you just don’t understand. I don’t want to be different than the other kids!” Jake’s mom was on the phone with the school nurse before he could finish his sentence.

Jake needed to inject himself with insulin 3 times a day. He knew what would happen if his blood glucose got too high or if he didn’t eat regularly and it got too low. But when he was on a field trip he hated to go to the chaperone and say that he needed to eat something immediately. And he hated going to the nurse every day to do his injections. Even worse, if he didn’t report to the nurse between fourth and fifth period the nurse would come to the classroom to get him and pull him out of class.

Jake was tired of having this disease, sick of shots and angry that he could not sleep in or skip a meal like the other kids. He made a face as his mother was on the phone with the nurse and slammed the door on his way out to find his friend Joe.

1. Why do you think Jake is not more conscious and responsible for his self-care?
2. Do you think Jake’s classmates talk about him or does he just think that they do?

You graduated college six years ago with an undergraduate degree in Finance. Although satisfied with your current job, your goal is to become an investment banker, and you wonder if an MBA degree would allow you to achieve that goal. After examining schools, you have narrowed your choice to either Wilton University or Mount Perry College. Although internships are encouraged by both schools, to get credit for the internship, no salary can be paid. Other than internships, neither school will allow students to work while enrolled on the MBA program. However, thanks to a bequest from your grandmother, your savings account has enough money to cover the entire cost of the MBA program

You currently work a money management firm, earning $53, 000 annually. Your salary is expected to increase 3% per year until retirement. You expect to work for 38 more years. Your current job includes a fully paid health insurance plan. Your current average tax rate is 26%.

The Ritter College of Business at Wilton University is one of the top MBA programs in the country. The MBA degree requires 2 years of full-time enrollment at the university. Annual tuition is $58,000, payable at the beginning of each school year. Books and other supplies are estimated to cost $2,000 per year. Upon graduation from Wilton you expect to receive a job offer for about $87,000 per year, with a $10,000 signing bonus. Because of the higher salary, your tax rate will increase to 31%. Annual salary increases are expected to be at 4% per year.

The Bradley School of Business at Mount Perry College began its MBA program 16 years ago. The Bradley School is smaller and less well known than Ritter College. Bradley offers an accelerated one-year program; cost of tuition for the program is $75,000, to be paid upon matriculation. Books and other supplies are expected to cost $4,200. You think that you will receive an offer of $78,000 per year upon graduation, with an $8,000 signing bonus, resulting in an average tax rate of 29%. The salary at this job would increase 3.5% per year.

Both schools offer comparable health insurance that will cost $3,000 per year, payable at the beginning of the year. Both schools also offer graduate housing, that will result in a decrease to your current room and board expenses of $4,000 per year, whichever school you attend.

Assume the appropriate discount rate is 5.5%.

REQUIRED:

Respond to the following questions. Each response must comprise at least three complete sentences, with proper grammar and punctuation. All calculations that support your answers must be shown in their entirety. Cite any referenced materials using APA format.

1. Does your age affect your decision to get an MBA? If so, how?

2. What other, perhaps nonquantifiable, factors affect your decision to get an MBA?

3. Assuming all salaries are paid at the end of each year, what is your best option from a strictly financial standpoint?

4. A friend suggests that the appropriate analysis is to calculate the future value of each option. How would you evaluate this statement?

5. What initial salary would you need to receive to make you indifferent between attending Wilton University and staying in your current position?

6. Suppose that instead of being able to cover the cost of the MBA from your savings, you must borrow money. (The current borrowing rate is 5.4%) How does this affect your decision?