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:

For example, administrative expenses should be $3,600 per month plus $45 per course plus $6 per student. The company’s sales should average $890 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 57 students. The actual operating results for September appear below:

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.

A common practice for government entities, particularly schools, is to issue short-term (promissory) notes to cover daily expenditures until revenues are received from tax collection, lottery funds, and other sources. School boards approve the note issuances, with repayments of principal and interest typically met within a few months. The goal is to fully cover all expenses until revenues are distributed from the state. However, revenues distributed fluctuate due to changes in collection expectations, and schools may not be able to cover their expenditures in the current period. This leads to a dilemma—whether or not to issue more short-term notes to cover the deficit. Short-term debt may be preferred over long-term debt when the entity does not want to devote resources to pay interest over an extended period of time. In many cases, the interest rate is lower than long-term debt, because the loan is considered less risky with the shorter payback period. This shorter payback period is also beneficial with amortization expenses; short-term debt typically does not amortize, unlike long-term debt. Based on this information, compose a paper that addresses the following:

• What would you do if you found your school in this situation?
• Would you issue more debt? Explain.
• Are there alternatives? Explain.
• What are some positives and negatives to the promissory note practice?
  • Please explain at least two positives and at least two negatives.

In Study Design 2, Super Sneaker Company drew at random two groups of 10 high school students from the Halifax school district database. After obtaining their shoe sizes, the company manufactured 10 pairs of shoes for group 1, each pair with both soles constructed from material A, and 10 pairs of shoes for group 2, each pair with both soles constructed from material B. After 3 months, the amount of sole wear in each shoe was recorded in standardized units, as in the first design.

Group 1 - Material A
12.18 8.02 6.04 9.96 6.93 6.60 8.55 8.38 11.08 6.31
Group 2 - Material B
10.12 10.57 9.12 8.46 10.91 9.49 8.09 9.97 9.93 8.88

1. Assume the standard deviation of wear is the same for both materials A and B. Calculate the test statistic. Use at least 5 digits to the right of the decimal.
2. Which interval in the table contains the p-value for the test?
3. What is the 99% confidence interval for the difference in wear between material B and material A (μB − μA)? Use software to get a more precise critical value, but confirm it's roughtly the same value you get from the table. Use at least 5 digits to the right of the decimal. Lower bound: Upper bound:

A sample on nine public universities and nine private universities was taken. The total cost for the year (including room and board) and median SAT score (maximum total is 2400) at each school were recorded. It was felt that schools with higher median SAT scores would have a better reputation and would charge more tuition as a result of that. The data is in the table below. Uss regression to help answer the following questions based on this sample data. Do schools with higher SAT scores charge more in tuition and fees? Are private schools more expensive than public school when SAT scores are taken into consideration.

Category              Total cost                             Median SAT

Public                   21,700                                  1990

Public                   15,600                                   1620

Public                   16,900                                   1810

Public                    15,400                                  1540

Public                    23,100                                   1540

Public                     21,400                                  1600

Public                     16,500                                   1560

Public                     23,500                                   1890

Public                     20,200                                    1620

Private                    30,400                                     1630

Private                    41,500                                    1840

Private                    36,100                                     1980

Private                    42,100                                     1930

Private                     27,100                                    2130

Private                     34,800                                    2010

Private                     32,100                                    1590

Private                     31,800                                    1720

Private                      32,100                                    1770

PLEASE READ: PLEASE SHOW STOP BY STEP HOW YOU GOT THE ANSWER AND PLEASE SHOW HOW TO DO IT STEP BY STEP ON EXCEL. (answer will be thumbed down if this isn't included)

The Weschler Intelligence Scale for Children (WISC) is an intelligence test designed for children between the ages of 6 and 16. The test is standardized so that the mean score for all children is 100 and the standard deviation is 15. Suppose that the administrators of a very large and competitive school district wish to estimate the mean WISC score for all students enrolled in their programs for gifted and talented children. They obtained a random sample of 40 students currently enrolled in at least one program for gifted and talented children. The test scores for this sample are as follows: 94,106,123,111,127,112,132,107,123,115,133,132,121,109,121,110,107,128,104,118, 111,127,108,119,121,122,102,130,97,111,125,114,99,101,123,124,108,116,144,113 Click to download the data in your preferred format. CrunchIt! CSV Excel JMP Mac Text Minitab PC Text R SPSS TI Calc Use this data to calculate the mean WISC score, ?⎯⎯⎯ , for these 40 students. Next, compute the standard deviation, SD, of the sampling distribution of the sample mean, assuming that the standard deviation of WISC scores for students in the district is the same as for the population as a whole. Finally, determine both the lower and upper limits of a 90% ?-confidence interval for ? , the mean score for all students in the school district who are enrolled in gifted and talented programs. Give ?⎯⎯⎯ and the limits of the confidence interval precise to one decimal place, but give the standard deviation to at least three decimal places in order avoid rounding errors when computing the limits.

x=

SD =

Lower limit =

Upper limit =

1. Some data gathered by the Department of Education which relates education levels based on

scores: achievement tests given to high school students for example

urban: factor. Is the school located in an urban area?

distance: distance from a 4-year college (in 10 miles)

tuition: average state 4year college tuition (in 1000 USD).

        Coefficients:

               Estimate Std. Error t value Pr(>|t|)    

        (Intercept)  9.141015   0.148905  61.388  < 2e-16 ***

        score        0.095596   0.002679  35.686  < 2e-16 ***

        urbanyes     0.025619   0.057090   0.449   0.6536    

        distance    -0.048723   0.010539  -4.623 3.88e-06 ***

        tuition     -0.142627   0.068517  -2.082   0.0374 *  

        ---

        Signif. codes:  0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘.’ 0.1 ‘ ’ 1

        Residual standard error: 1.58 on 4734 degrees of freedom

        Multiple R-squared:  0.221,   Adjusted R-squared:  0.2203 

        F-statistic: 335.7 on 4 and 4734 DF, p-value: < 2.2e-16

1. What is the estimated regression equation?
2. What variables are significant?
3. How do you interpret the variable urban (yes/no)?
4. How much of the variance in the model can be explained by the variables that you included?
5. In general what information does VIF regression give you in assessing a model?
6. An output from R shown below, gives the Variance Inflation Factors for your model. What do these numbers tell you?

        score     urban     distance  tuition 

        1.031628  1.105871  1.112577  1.027281 

Directions Use the Crosstabs option in the Descriptives menu to answer the questions based on the following scenario. (Be sure to select Chi-square from the Statistics submenu and Observed, Expected, Row, and Column in the Cells submenu. Assume a level of significance of .05).

Scenario

The school district recently adopted the use of e-textbooks, and the superintendent is interested in determining the level of satisfaction with e-textbooks among students and if there is a relationship between the level of satisfaction and student classification. The superintendent selected a sample of students from one high school and asked them how satisfied they were with the use of e-textbooks. The data that were collected are presented in the following table

Satisfied

Yes: Freshman (23) Sophmore (21) Junior (15) Senior (8)

No: Freshman (8) Sophmore (4) Junior (15) Senior (24)

Questions:

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.

Discount Furniture Pty Ltd manufactures a variety of desks, chairs, tables and shelf units which are sold to public school systems throughout Queensland. The accountant of the company’s School Desk Division is currently preparing a budget for the first quarter of 2018. The following sales forecast has been made by the division's sales manager.

          January 
   5,000 desk and chair sets

          February 
   6,000 desk and chair sets

          March 
   7,500 desk and chair sets

          April 
    7,500 desk and chair sets

Each desk and chair set requires 10 metres of pine planks and 1.5 hours of direct labour. Each set sells for $50. Pine planks cost $0.50 per metre and the division ends each month with enough wood to cover 10 per cent of the next month's production requirements. The division incurs a cost of $20.00 per hour for direct labour wages and fringe benefits. The division ends each month with enough finished goods inventory to cover 20 per cent of the next month's sales. Also, assume that April's production will total 8,000 units.

Required:

(a) Prepare the Production Budget for Discount Furniture Pty Ltd for January, February and March, using the information provided.

(b) Prepare the Direct Materials Purchases Budget for January February, and March, using the information provided. 


(c) Outline three purposes of preparing budgets such as the Production and Direct Materials Purchases budgets considered here. 


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 62 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:

For example, administrative expenses should be $3,700 per month plus $40 per course plus $5 per student. The company’s sales should average $880 per student.

The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 52 students. The actual operating results for September appear below:

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.

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 61 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:

For example, administrative expenses should be $3,700 per month plus $45 per course plus $7 per student. The company’s sales should average $890 per student.

The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 59 students. The actual operating results for September appear below:

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.