Levi-Strauss Co manufactures clothing. The quality control department measures weekly values of different suppliers for the percentage difference of waste between the layout on the computer and the actual waste when the clothing is made (called run-up). The data is in table #11.3.3, and there are some negative values because sometimes the supplier is able to layout the pattern better than the computer ("Waste run up," 2013). Do the data show that there is a difference between some of the suppliers? Test at the 1% level.
Table #11.3.3: Run-ups for Different Plants Making Levi Strauss Clothing
|
Plant 1 |
Plant 2 |
Plant 3 |
Plant 4 |
Plant 5 |
|
1.2 |
16.4 |
12.1 |
11.5 |
24 |
|
10.1 |
-6 |
9.7 |
10.2 |
-3.7 |
|
-2 |
-11.6 |
7.4 |
3.8 |
8.2 |
|
1.5 |
-1.3 |
-2.1 |
8.3 |
9.2 |
|
-3 |
4 |
10.1 |
6.6 |
-9.3 |
|
-0.7 |
17 |
4.7 |
10.2 |
8 |
|
3.2 |
3.8 |
4.6 |
8.8 |
15.8 |
|
2.7 |
4.3 |
3.9 |
2.7 |
22.3 |
|
-3.2 |
10.4 |
3.6 |
5.1 |
3.1 |
|
-1.7 |
4.2 |
9.6 |
11.2 |
16.8 |
|
2.4 |
8.5 |
9.8 |
5.9 |
11.3 |
|
0.3 |
6.3 |
6.5 |
13 |
12.3 |
|
3.5 |
9 |
5.7 |
6.8 |
16.9 |
|
-0.8 |
7.1 |
5.1 |
14.5 |
|
|
19.4 |
4.3 |
3.4 |
5.2 |
|
|
2.8 |
19.7 |
-0.8 |
7.3 |
|
|
13 |
3 |
-3.9 |
7.1 |
|
|
42.7 |
7.6 |
0.9 |
3.4 |
|
|
1.4 |
70.2 |
1.5 |
0.7 |
|
|
3 |
8.5 |
|||
|
2.4 |
6 |
|||
|
1.3 |
2.9 |
In: Statistics and Probability
Data on petrol prices was collected for the Royal Automobile Club of Queensland by FuelTrac Pty Ltd. The data was collected in Toowoomba, Queensland over a nine month period from September 2002 to May 2003 with the aim of investigating complaints about excessive price differences between lead replacement petrol and unleaded petrol.
The data are monthly average fuel prices. There are nine observations on three variables.
Month The month
Unleaded The monthly average price of unleaded petrol (in cents per litre)
LRP The monthly average price of lead replacement petrol (LRP) (in cents per litre)
For each month the difference in prices is calculated and the values are shown in the table below:
Month Diff
Sep 3.4
Oct 3.6
Nov 3.7
Dec 3.8
Jan 3.9
Feb 3.7
Mar 3.8
Apr 4
May 4
You may assume that the differences in prices is normally distributed. Some computer output appears below:
One Variable Summary. Unleaded LRP Dif
Mean 85.278 89.044 3.7667
Std. Dev. 4.845 4.893 0.1936
Count 9 9 9
a) Is the lead replacement petrol more expensive than unleaded petrol? Explain why or why not? Your answer should be in the form of a hypothesis test. Justify any assumptions that need to be made in order for your results to be reliable.
b) Construct a 95% confidence interval for the average price difference between lead replacement petrol and unleaded petrol.
In: Statistics and Probability
|
Levi-Strauss Co manufactures clothing. The quality control department measures weekly values of different suppliers for the percentage difference of waste between the layout on the computer and the actual waste when the clothing is made (called run-up). The data is in Table #11.3.3, below, and there are some negative values because sometimes the supplier is able to layout the pattern better than the computer (Waste run up, 2013). (11.3.2) Do the data show that there is a difference between some of the suppliers? Test at the 1% level. Show work without Excel or calculator Table #11.3.3: Run-ups for Different Plants Making Levi Strauss Clothing
|
In: Statistics and Probability
A)Test the significance of the population correlation coefficient r (t-test using α = 5%)
B)Test the significance of the population regression coefficient b1 (t-test using α = 5%)
C)Interpret the Coefficient of Determination as measure of the goodness of the fit (R2). Data sets are below and Thanks!
| Unemployment | Inflation |
| 4.0 | 3.0 |
| 4.1 | 4.1 |
| 4.0 | 5.9 |
| 3.8 | -0.6 |
| 4.0 | 1.8 |
| 4.0 | 5.8 |
| 4.0 | 2.9 |
| 4.1 | 0.0 |
| 3.9 | 5.2 |
| 3.9 | 1.7 |
| 3.9 | 1.7 |
| 3.9 | 2.3 |
| 4.2 | 5.7 |
| 4.2 | 2.3 |
| 4.3 | 0.6 |
| 4.4 | 1.7 |
| 4.3 | 5.1 |
| 4.5 | 2.3 |
| 4.6 | -1.7 |
| 4.9 | 0.0 |
| 5.0 | 4.0 |
| 5.3 | -2.8 |
| 5.5 | -0.6 |
| 5.7 | -0.6 |
| 5.7 | 1.7 |
| 5.7 | 1.7 |
| 5.7 | 3.4 |
| 5.9 | 3.9 |
| 5.8 | 0.6 |
| 5.8 | 1.1 |
| 5.8 | 2.2 |
| 5.7 | 2.8 |
| 5.7 | 1.7 |
| 5.7 | 2.2 |
| 5.9 | 1.7 |
| 6.0 | 1.1 |
| 5.8 | 3.3 |
| 5.9 | 5.5 |
| 5.9 | 4.4 |
| 6.0 | -4.4 |
| 6.1 | -0.6 |
| 6.3 | 1.1 |
| 6.2 | 2.2 |
| 6.1 | 3.8 |
| 6.1 | 2.7 |
| 6.0 | -0.5 |
| 5.9 | -1.1 |
| 5.7 | 2.2 |
| 5.7 | 4.3 |
| 5.6 | 3.2 |
| 5.7 | 4.3 |
| 5.5 | 1.1 |
| 5.6 | 5.9 |
| 5.6 | 3.2 |
| 5.5 | 0.0 |
| 5.4 | 1.1 |
| 5.4 | 1.6 |
| 5.4 | 5.8 |
| 5.4 | 2.1 |
| 5.4 | 0.0 |
| 5.2 | 1.1 |
| 5.4 | 3.7 |
| 5.1 | 5.7 |
| 5.1 | 4.7 |
| 5.1 | -0.5 |
| 5.0 | -0.5 |
| 5.0 | 6.2 |
| 4.9 | 5.6 |
| 5.1 | 12.2 |
| 4.9 | 2.5 |
| 5.0 | -6.5 |
| 4.9 | -0.5 |
In: Math
A)Test for significance of the Coefficient of Determination (F-test using α = 5%)
B) Construct and interpret the confidence interval for the population regression coefficient b1 (use 1-α = 95%). Data set below and Thanks!
| Unemployment | Inflation |
| 4.0 | 3.0 |
| 4.1 | 4.1 |
| 4.0 | 5.9 |
| 3.8 | -0.6 |
| 4.0 | 1.8 |
| 4.0 | 5.8 |
| 4.0 | 2.9 |
| 4.1 | 0.0 |
| 3.9 | 5.2 |
| 3.9 | 1.7 |
| 3.9 | 1.7 |
| 3.9 | 2.3 |
| 4.2 | 5.7 |
| 4.2 | 2.3 |
| 4.3 | 0.6 |
| 4.4 | 1.7 |
| 4.3 | 5.1 |
| 4.5 | 2.3 |
| 4.6 | -1.7 |
| 4.9 | 0.0 |
| 5.0 | 4.0 |
| 5.3 | -2.8 |
| 5.5 | -0.6 |
| 5.7 | -0.6 |
| 5.7 | 1.7 |
| 5.7 | 1.7 |
| 5.7 | 3.4 |
| 5.9 | 3.9 |
| 5.8 | 0.6 |
| 5.8 | 1.1 |
| 5.8 | 2.2 |
| 5.7 | 2.8 |
| 5.7 | 1.7 |
| 5.7 | 2.2 |
| 5.9 | 1.7 |
| 6.0 | 1.1 |
| 5.8 | 3.3 |
| 5.9 | 5.5 |
| 5.9 | 4.4 |
| 6.0 | -4.4 |
| 6.1 | -0.6 |
| 6.3 | 1.1 |
| 6.2 | 2.2 |
| 6.1 | 3.8 |
| 6.1 | 2.7 |
| 6.0 | -0.5 |
| 5.9 | -1.1 |
| 5.7 | 2.2 |
| 5.7 | 4.3 |
| 5.6 | 3.2 |
| 5.7 | 4.3 |
| 5.5 | 1.1 |
| 5.6 | 5.9 |
| 5.6 | 3.2 |
| 5.5 | 0.0 |
| 5.4 | 1.1 |
| 5.4 | 1.6 |
| 5.4 | 5.8 |
| 5.4 | 2.1 |
| 5.4 | 0.0 |
| 5.2 | 1.1 |
| 5.4 | 3.7 |
| 5.1 | 5.7 |
| 5.1 | 4.7 |
| 5.1 | -0.5 |
| 5.0 | -0.5 |
| 5.0 | 6.2 |
| 4.9 | 5.6 |
| 5.1 | 12.2 |
| 4.9 | 2.5 |
| 5.0 | -6.5 |
| 4.9 | -0.5 |
In: Math
In: Economics
Please answer ALL of the questions below:
1.Under perfect competition without economies of scale, producers are price- (a. makers, b. takers) and the product price is equal to (a. average cost, b. marginal cost, c. marginal revenue). With external economies of scale, producers are price- (a. makers, b. takers) and the product price is equal to (a. average cost, b. marginal cost, c. marginal revenue).
2. All Hondas sold in the US are either imported or produced in Ohio, which is a case of (a. external/ b. internal) economies of scale, while Hollywood is the capital of motion pictures in the US, which is the case of (a. external/ b. internal) economies of scale.
3. Most Scotch whiskey comes from Scotland, while half of the world’s largest aircraft are assembled in Seattle, US. (a. Economies of scale/ b. comparative advantage) is more important in the former case and (a. economies of scale/ b. comparative advantage) is more important in the latter. Hollywood’s cluster location in the US is determined by (a. factor endowments, b. historical accidents), while India’s Bollywood’s cluster location in the world is determined by (a. factor endowments, b. historical accidents).
4. Suppose China and Japan can produce thin-panel PCs and their falling average cost curves are identical. Then, if Japan starts the PC production earlier, China (a. can/ b. cannot) be an exporter of the PCs, and (a. either Japan or China/ b. only Japan/ c. only China/ d. both China and Japan) obtain(s) the benefit of international trade.
In: Economics
4.1 According to the article by Karen Maley, if Australian interest rates are raised, this is likely to push the Australian dollar higher. A likely explanation for this is:
A. Capital inflows fall and capital outflows rise,
implying the demand for the AUD increases and supply of the AUD
increases
B. Capital inflows fall and capital outflows rise,
implying the demand for the AUD increases and supply of the AUD
decreases
C. Capital inflows rise and capital outflows fall,
implying the demand for the AUD increases and supply of the AUD
decreases
D. Capital inflows rise and capital outflows rise,
implying the demand for the AUD increases and supply of the AUD
increases
4.6 Suppose that Australian returns on investment fall relative to world returns. What do you expect is most likely to happen in the market for the AUD?
|
A. Only demand would shift to the right |
|
B. Only demand would shift to the left |
|
C. Only supply would shift to the right |
|
D. Only supply would shift to the left |
|
E. Both demand and supply would shift to the right |
|
F. Both demand and supply would shift to the left |
|
G. Demand would shift right and supply would shift left |
|
H. Demand would shift left and supply would shift right |
4.7 At present, China is experiencing falling GDP and rising debt levels. How would you expect the Australian dollar to be affected?
A. It would depreciate
B. It would appreciate
C. It would be unaffected
In: Economics
A. According to the Coase theorem, why would a Hobart zinc refinery that is legally allowed to emit pollution agree to reduce its pollution emissions even though it is not in its own private interests? How might transactions costs prevent this?
B. Suppose for every $1 of poppies grown in Tasmania that $0.05 of environmental damage is done from fertiliser entering river systems and other water ways. What type of externality is growing poppies causing? Explain why the social marginal cost of poppies is higher than the private marginal cost. Explain why the environmental damage from growing poppies causes a dead-weight loss. Suggest a market-based policy that will eliminate the dead-weight loss and how it will achieve the socially efficient level of poppies in Tasmania.
C. Suppose 3 kelp harvesters each send 1 boat each week to harvest bull kelp off Granville Harbour. Each boat returns with a harvest worth $1,150. It costs $1000 per boat per week to harvest the bull kelp. Every additional boat beyond 3 that is sent to harvest kelp results in the harvest falling by $50 per boat for all kelp harvesters. Why does an individual kelp harvester have an incentive to add another boat? Why is adding another boat not socially optimal?
D. Why do most economists advocate only using the tax/welfare system to address equity concerns from welfare analysis, rather than altering prices?
In: Economics
Use the information below for Finch Company to answer the question that follow.
Finch Company began its operations on March 31 of the current year.
Finch has the following projected costs:
| April | May | June | |
| Manufacturing costs (1) | $157,800 | $192,400 | $205,800 |
| Insurance expense (2) | 940 | 940 | 940 |
| Depreciation expense | 2,050 | 2,050 | 2,050 |
| Property tax expense (3) | 520 | 520 | 520 |
(1) Of the manufacturing costs, three-fourths are paid for in the
month they are incurred and one-fourth is paid for in the following
month.
(2) Insurance expense is $940 a month; however, the insurance is
paid four times yearly, in the first month of the quarter (i.e.,
January, April, July, and October).
(3) Property tax is paid once a year in November.
The cash payments expected for Finch Company in the month of April
are
a.$118,350
b.$139,485
c.$121,170
d.$157,800
In: Accounting