(10 pts) Suppose that when I drive to school, I encounter one traffic light on Lewis Road and one traffic light on Santa Rosa Rd. Let the random variable X = number of red lights that I encounter on Lewis and Y = number of red lights that I encounter on Santa Rosa. Suppose that the marginal distributions of X and Y are as shown in the following probability table:

X=-1 X=1 Total
Y=-1 0.5
Y=1 0.5
Total 0.5 0.5 1.0
Notice that E(X) = E(Y) = .5, and Var(X) = Var(Y) = .25.

a) Fill in the table in such a way that Corr(X,Y) = 1. Verify that indeed it checks out.
X=-1 X=1 Total
Y=-1 0.5
Y=1 0.5
Total 0.5 0.5 1.0


b) Fill in the table in such a way that Corr(X,Y) = -1. Verify that indeed it checks out.
X=-1 X=1 Total
Y=-1 0.5
Y=1 0.5
Total 0.5 0.5 1.0


c) Fill in the table in such a way that Corr(X,Y) = 0. Verify that indeed it checks out.
X=-1 X=1 Total
Y=-1 0.5
Y=1 0.5
Total 0.5 0.5 1.0

Consider the variable W=X+Y, representing the total number of red lights I encounter on my drive to school.
d) Calculate E(W)





e) For each of the cases in parts a), b) and c), calculate SD(W)

The community health nurse is planning a health promotion workshop for a high school PTSO (Parent-Teacher-Student Organization). The choice of topics was suggested by the high school’s registered nurse who has observed a gradual increase in student obesity. The two nurses have collaborated to develop this workshop to provide parents, students, and teachers with information about the importance of health promotion. (Learning Objectives 6, 8, and 9) Describe the importance of a focus on health promotion. According to the health promotion model developed by Becker (1993), what four variables influence the selection and use of health promotion behaviors? Describe four components of health promotion.

Business Case – Manchester Business School (Civil Engineering)

The Company (Civil Engineers) consists of two divisions. The divisions are Transportation and Infrastructure. The company sells engineering services to various customers. The following are the bill rates for the various staff classifications:

The two divisions expect to bill the following hours:

• Transportation - 10,000 hours, vice president at 10% of the time, 20% of Senior Engineer time 10% to Associate engineers and remaining to Staff Engineers.

• Infrastructure - 6,000 hours, vice president at 12% of the time, 20% of Senior Engineer time, 5% to Associate engineers and remaining to Staff Engineers.

The Direct Labor costs per hours are as follows:

The utilization (billable ratio to total hours) for each staff member is as follows:

The company has the following other costs:

Assume that there are 2080 hours per year that each engineer can work including vacation and other benefit hours.

Question:

You are an outside third party Human Resources consulting firm and the Manchester Company Board of Directors, CFO and the CPO have engaged your company. The goal of the Board, CFO and the CPO is to improve profitability of the divisions and company. Therefore, to accomplish providing engagement advice to the Board, CFO and CPO the consulting team should answer the following questions during the presentation and in the final report.

1. Prepare a static budget for the company.

2. Assume that the actual utilization came in at the following rates:

3. Based on the above utilization, prepare a flexible budget and calculate the Level 2/3 variances.

4. What recommendations can be made for the upcoming year in budgeting to the CFO for additional profitability and increasing revenue?

5. What approaches would your recommendations to increase the company overall utilization of staff and billable hours?

6. How will your recommendations impact customer profitability or divisional profitability?

7. The company wants to add a new division. It will be the Construction Division with 3 people. Please discuss pros and cons of adding a division and when you might consider not adding the division.

1. You have just graduated from nursing school and you are considering working in forensic nursing.

a. Explain the psychiatric nurse's role in the forensic milieu.

b. What are your fears in dealing with people in correctional facilities?

c. What do you think would be most difficult about working with the forensic client?

d. Have you ever witnessed acting-out behavior in a client? What happened? How did it make you feel? What do you think about this situation now? Were there any clues that this behavior was imminent? Looking at this situation now, could it have been prevented?

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow.
  
Additional Information Items

An analysis of WTI's insurance policies shows that $2,674 of coverage has expired.

An inventory count shows that teaching supplies costing $2,318 are available at year-end 2017.

Annual depreciation on the equipment is $10,698.

Annual depreciation on the professional library is $5,349.

On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,900, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018.

On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $2,361 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.)

WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee.

The balance in the Prepaid Rent account represents rent for December.

3-a. Prepare Wells Technical Institute's income statement for the year 2017.
3-b. Prepare Wells Technical Institute's statement of owner's equity for the year 2017.
3-c. Prepare Wells Technical Institute's balance sheet as of December 31, 2017.
  

Paris and Nicole have been friends since elementary school. For the past 6 months Paris has been working with Nicole on her campaign for mayor of their hometown. Paris has not been paid for this work – she has been an unpaid consultant. As the election gets closer, Nicole convinced Paris to make a contribution to the campaign fund. Paris was happy to provide the contribution to her friend Nicole’s campaign for mayor, especially after she learned from another friend that charitable contributions are tax deductible. Paris has come to you for advice on filing her federal income tax return.

What is the question for the tax scenario?

A school boasts of its tutoring program offered to students.  Two samples of 71 students each are taken.  The first sample consists of students who have not taken part in the tutoring program while the second sample consists of students who have taken part in the tutoring program.  An aptitude test was given to both samples.  The first sample showed a mean score of 150 with a standard deviation of 20 while the second sample showed a mean score of 158 with a standard deviation of 23.  Using a significance level of 1%, can you conclude that the two samples are different?

Null Hypothesis: ____________________            Your Work:

Alternative Hypothesis: ____________________

Critical Value: ____________________

Test Statistic: ____________________

Your Decision: ____________________

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items An analysis of WTI's insurance policies shows that $2,400 of coverage has expired. An inventory count shows that teaching supplies costing $2,800 are available at year-end.

Annual depreciation on the equipment is $13,200.

Annual depreciation on the professional library is $7,200. On September 1, WTI agreed to do five courses for a client for $2,500 each.

Two courses will start immediately and finish before the end of the year.

Three courses will not begin until next year.

The client paid $12,500 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees.

On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class.

At December 31, $7,500 of the tuition has been earned by WTI.

WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. The balance in the Prepaid Rent account represents rent for December.

WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Debit Credit Cash $ 34,000

Accounts receivable 0 Teaching supplies 8,000 Prepaid insurance 12,000

Prepaid rent 3,000 Professional library 35,000

Accumulated depreciation—Professional library $ 10,000 Equipment 80,000

Accumulated depreciation—Equipment 15,000

Accounts payable 26,000 Salaries payable 0 Unearned training fees 12,500

T. Wells, Capital 90,000

T. Wells, Withdrawals 50,000

Tuition fees earned 123,900

Training fees earned 40,000

Depreciation expense—Professional library 0

Depreciation expense—Equipment 0

Salaries expense 50,000

Insurance expense 0

Rent expense 33,000

Teaching supplies expense 0

Advertising expense 6,000

Utilities expense 6,400

Totals $ 317,400 $ 317,400

\Prepare Wells Technical Institute's income statement for the year.

\ Prepare Wells Technical Institute's statement of owner's equity for the year. The T. Wells, Capital account balance was $90,000 on December 31 of the prior year.

\Prepare Wells Technical Institute's balance sheet as of December 31.