Among the budget cuts that the city council is considering is a 5 percent reduction in funds for secondary education. As the principal of one of the junior high schools that could be affected, Stella is worried. Such a reduction would almost certainly mean teacher layoffs and fewer teachers teaching more students.
Currently the school offers basic math and english courses for students on three levels: average, below average, and above average. However, a smaller budget may require offering only two levels next year. One possibility that Stella is considering is dropping the accelerated courses. After all, the bright kids would do well no matter what. On the other hand, dropping courses designed for below average student would mean that those students would not get the extra attention that they need. Stella think that if push comes to shove,its the honors program that will have to go.
Answer the following questions:
1 - What solution would you offer if you were Stella and there were budget cuts in your school?
2 - Is Stella right that bright kids will do well no matter what? Explain your answer.
3 - At what age is intelligence set? Is there anything you can do to improve your intelligence score on an IQ test?
4 - Should gifted students and below average students be integrated into the same class? Explain.
In: Economics
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
| Fixed Cost per Month | Cost per Course | Cost per Student |
|||||
| Instructor wages | $ | 2,940 | |||||
| Classroom supplies | $ | 290 | |||||
| Utilities | $ | 1,240 | $ | 90 | |||
| Campus rent | $ | 4,700 | |||||
| Insurance | $ | 2,300 | |||||
| Administrative expenses | $ | 3,900 | $ | 44 | $ | 5 | |
For example, administrative expenses should be $3,900 per month plus $44 per course plus $5 per student. The company’s sales should average $870 per student.
The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 56 students. The actual operating results for September appear below:
| Actual | ||
| Revenue | $ | 52,780 |
| Instructor wages | $ | 11,040 |
| Classroom supplies | $ | 18,410 |
| Utilities | $ | 2,010 |
| Campus rent | $ | 4,700 |
| Insurance | $ | 2,440 |
| Administrative expenses | $ | 3,822 |
Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.
In: Accounting
| Satisified | Freshmen | Sophomore | Junior | Senior |
| Yes | 21 | 19 | 10 | 20 |
| No | 14 | 9 | 17 | 11 |
Directions: Use the crosstabe option in the Descriptives menu to answer the questions based on the following scenario. ( Be sure to select Chi-square from the sStatistics submenu and Observed, Expected, Row, and Column in the Cell submenu. Assume a level of significance of .05)
The school district recently adopted the use of e-textbooks, and superintendent is interested in determining the level of satisfaction with e-textbooks among students classification. The superintendent selected a sample of students from one high school and asked them how satisified they were with the use of e-textbooks. The data that were collected are presented in the following table.
1. Of the students that were satisfied, what percent were Freshmen, Sophomore, Junior, and Senior? (Round your final answer to 1 decimal place.
2. State an appropriate null hypothesis for this analysis.
3. What is the value of the chi-square statistic?
4. What are the reported degrees of freedom?
5. What is the reported level of significance?
6. Based on the results of the chi-square test of independence is there an association between e-textbook satisfaction and academic classification?
7 Present the results as they might appear in an article. This must include a table and narrative statement that reports and interprets the results of the analysis.
Note: The table must be created using your word processing program. Tables that are copied and pasted from SPSS are not acceptable.
In: Statistics and Probability
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 65 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
| Fixed Cost per Month | Cost per Course | Cost per Student |
|||||
| Instructor wages | $ | 2,940 | |||||
| Classroom supplies | $ | 270 | |||||
| Utilities | $ | 1,240 | $ | 55 | |||
| Campus rent | $ | 5,100 | |||||
| Insurance | $ | 2,100 | |||||
| Administrative expenses | $ | 3,800 | $ | 41 | $ | 5 | |
For example, administrative expenses should be $3,800 per month plus $41 per course plus $5 per student. The company’s sales should average $870 per student.
The company planned to run four courses with a total of 65 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September appear below:
| Actual | ||
| Revenue | $ | 53,650 |
| Instructor wages | $ | 11,040 |
| Classroom supplies | $ | 17,400 |
| Utilities | $ | 1,870 |
| Campus rent | $ | 5,100 |
| Insurance | $ | 2,240 |
| Administrative expenses | $ | 3,715 |
Required:
1. Prepare the company’s planning budget for September.
2. Prepare the company’s flexible budget for September.
3. Calculate the revenue and spending variances for September.
In: Accounting
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
| Fixed Cost per Month | Cost per Course | Cost per Student |
|||||
| Instructor wages | $ | 2,900 | |||||
| Classroom supplies | $ | 310 | |||||
| Utilities | $ | 1,210 | $ | 60 | |||
| Campus rent | $ | 5,000 | |||||
| Insurance | $ | 2,200 | |||||
| Administrative expenses | $ | 3,600 | $ | 44 | $ | 6 | |
For example, administrative expenses should be $3,600 per month plus $44 per course plus $6 per student. The company’s sales should average $900 per student.
The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below:
| Actual | ||
| Revenue | $ | 54,700 |
| Instructor wages | $ | 10,880 |
| Classroom supplies | $ | 19,690 |
| Utilities | $ | 1,860 |
| Campus rent | $ | 5,000 |
| Insurance | $ | 2,340 |
| Administrative expenses | $ | 3,586 |
Required:
1. Prepare the company’s planning budget for September.
2. Prepare the company’s flexible budget for September.
3. Calculate the revenue and spending variances for September.
In: Accounting
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 65 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
| Fixed Cost per Month | Cost per Course | Cost per Student |
|||||
| Instructor wages | $ | 2,970 | |||||
| Classroom supplies | $ | 310 | |||||
| Utilities | $ | 1,210 | $ | 80 | |||
| Campus rent | $ | 4,800 | |||||
| Insurance | $ | 2,300 | |||||
| Administrative expenses | $ | 3,500 | $ | 45 | $ | 3 | |
For example, administrative expenses should be $3,500 per month plus $45 per course plus $3 per student. The company’s sales should average $870 per student.
The company planned to run four courses with a total of 65 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September appear below:
| Actual | ||
| Revenue | $ | 53,650 |
| Instructor wages | $ | 11,160 |
| Classroom supplies | $ | 20,000 |
| Utilities | $ | 1,940 |
| Campus rent | $ | 4,800 |
| Insurance | $ | 2,440 |
| Administrative expenses | $ | 3,301 |
Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.
In: Accounting
A political scientist wanted to learn whether there is an association between the education level of registered voters and his or her political party affiliation. He randomly selected 46 registered voters and ran a Chi-square test of Independence and Homogeneity in SPSS. The following is the test result from SPSS:
|
Education * Party Crosstabulation |
|||||
|
Party |
Total |
||||
|
Democrat |
Republican |
||||
|
Education |
College |
Count |
9 |
12 |
21 |
|
Expected Count |
11.9 |
9.1 |
21.0 |
||
|
Grade School |
Count |
7 |
2 |
9 |
|
|
Expected Count |
5.1 |
3.9 |
9.0 |
||
|
High School |
Count |
10 |
6 |
16 |
|
|
Expected Count |
9.0 |
7.0 |
16.0 |
||
|
Total |
Count |
26 |
20 |
46 |
|
|
Expected Count |
26.0 |
20.0 |
46.0 |
||
|
Chi-Square Tests |
|||
|
Value |
df |
Asymp. Sig. (2-sided) |
|
|
Pearson Chi-Square |
3.483a |
2 |
.175 |
|
Likelihood Ratio |
3.598 |
2 |
.165 |
|
N of Valid Cases |
46 |
||
|
a. 1 cells (16.7%) have expected count less than 5. The minimum expected count is 3.91. |
|||
Read the SPSS output charts, state the test statistic, and the p-value
| a. |
Test statistic , P-value=0.0875 |
|
| b. |
Test statistic , P-value=0.0825 |
|
| c. |
Test statistic , P-value=0.175 |
|
| d. |
Test statistic , P-value=0.165 |
|
| e. |
None of the above |
In: Statistics and Probability
The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell sweatshirts bearing the name and mascot of the local high school.
These sweatshirts would have to be ordered from the manufacturer six weeks in advance, and they could not be returned because of the unique printing required. The sweatshirts would cost Hooper $22.00 each with a minimum order of 238 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 238.
Since Hooper’s plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $44.00 each. Hooper would pay the students a commission of $8.00 for each shirt sold.
Required:
1. What level of unit sales and dollar sales is needed to attain a target profit of $13,328?
2. Assume that Hooper places an initial order for 238 sweatshirts. What is his break-even point in unit sales and dollar sales? (Round your intermediate calculations and final answers to the nearest whole number.)
3. How many sweatshirts would Hooper need to sell to earn a target profit of $15,000? (Round your final answer to the nearest whole number.)
In: Accounting
2) On the Midterm Test, we examined data for a certain county
regarding the relationship
between a teenager’s likelihood of going right to college after
high school and whether or not
the teenager’s parent(s) had a college degree.
The data were as follows...
Group 1: One or more parents have a degree
Number of teenagers who went right to college = 212 Sample size =
398
Group 2: No parents previously completed a college degree
Number of teenagers who went right to college = 92 Sample size =
300
Do the data below support the claim that, for this county, the
population proportion of
teenagers who attend college immediately after high school is
higher among families where
one or more parents have completed a college degree? Conduct a
hypothesis test to examine
this claim. Use a significance level of α = .02.
Assume all necessary conditions have been met for the test you
choose.
To obtain full credit, your writing below should:
• Present the hypotheses to be evaluated (in symbols or
words)
• Present and state the value of the test statistic you use (e.g.,
“Z =” or “t =”)
• Present a p-value based on that test statistic
• Clearly demonstrate a decision regarding the null hypothesis
based on this p-value
• Answer the original question in a clear, concise, complete
sentence (or sentences).
In: Statistics and Probability
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
| Fixed Cost per Month | Cost per Course | Cost per Student |
|||||
| Instructor wages | $ | 2,940 | |||||
| Classroom supplies | $ | 290 | |||||
| Utilities | $ | 1,250 | $ | 60 | |||
| Campus rent | $ | 5,200 | |||||
| Insurance | $ | 2,200 | |||||
| Administrative expenses | $ | 3,600 | $ | 42 | $ | 4 | |
For example, administrative expenses should be $3,600 per month plus $42 per course plus $4 per student. The company’s sales should average $880 per student.
The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September appear below:
| Actual | ||
| Revenue | $ | 53,420 |
| Instructor wages | $ | 11,040 |
| Classroom supplies | $ | 18,410 |
| Utilities | $ | 1,900 |
| Campus rent | $ | 5,200 |
| Insurance | $ | 2,340 |
| Administrative expenses | $ | 3,450 |
Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.
In: Accounting