A college placement office conducted a survey of 100 engineers who had graduated from Stanford University. For these engineers, the mean salary was computed to be $72,000 with a standard deviation of $22,000.  The distribution of salary is roughly bell shaped.

a) What percentage of these engineers will earn between $55,040 and $88,960?

b) What is the probability that the average income of 4 engineers will be between $55,040 and $88,960?

c) What would be the 90^thpercentile for the income of these individual engineers?

d) What would be the 90^thpercentile for the average income of groups of 9 engineers?

e) Why is the 90^thpercentile in (d) a smaller number than the value in (c)? Explain using the bell curve and what happens to it when you are looking at the average of a group.

Question C1 You just graduate from University of Hong Kong, major in Management. You are employed by Standard Chartered Bank as wealth management associate. During your training, you are given the situation for practice.

Mary and Eddie, ages 43 and 47, have a daughter who is completing her first year of university and a son three years younger. Currently, they have $200,000 in savings and investment funds set aside for their children’s education. With increasing education costs, they are concerned whether this amount is adequate. In recent months, Mary’s mother has required extensive medical attention and personal care assistance. Unable to live alone, she is now a resident of a long-term care facility. The cost of this service is $6,750 a month, with annual increases of about 5 percent. While a major portion of the cost is covered by Social Security and her savings, Mary’s mother is unable to cover the entire cost. In addition, Mary and Eddie are concerned about saving for their own retirement. While they have consistently made annual deposits to a retirement fund, current financial demands may force them to access some of that money

Required:

a. Identify the main financial planning issues that need to be addressed.

b. Suggest any TWO additional information, one in quantitative and one in qualitative you need before making recommendation.

c. Based on the information provided and your assessment of the situation, recommend TWO most appropriate actions. (Total 25 marks)

Khalid recently received his accounting degree from Sultan Qaboos University and went to work for accountancy firm. After working for 6 months with accountancy firm, he was sent to the Sky manufacturing company to audit the financial year 2019. Khalid had his first ever experience of Audit, and he was not confident of his professional experience at this early point in his career.

However, during the audit, he noticed, that some of the company's transactions and events were recorded in a way that might be in violation of accounting theory and generally accepted accounting principles. Khalid is very much confused about the practices they followed. Sky manufacturing may face serious consequences, if they continue with the same practices. During the audit, Khalid observed that some of the company’s important information is not shared with him., which is a clear violation. The owner of Sky manufacturing is putting a lot of pressure on Khalid to make a good report for the audit.

a. Khalid is an honest auditor and concerned about his work and career. Being aware of the complexity and nature of work, he has to be resilient, diligent, inquisitive, insightful, and impartial. Discuss and state examples, how would Khalid imply these characteristics to do his work
professionally in the above scenario?
b. The auditor should challenge the financial accounting practices used or should challenge the intentions of the management. Write your decisions and the reasoning behind your conclusions.

answer should be not less than 400 words for each part.

what do you mean?

Travis Daniels has just graduated from Matchbook State University and is deciding whether to pursue his master's degree. Travis is now 20 years old.  He has just been offered a job with Schmultz, Inc. at an annual salary of $45,000 with anticipated annual increases (for inflation), of 3%. Travis anticipates working only through to his planned retirement, on his 65th birthday. Were Travis to defer the job acceptance and attend graduate school at Matchbook State, the tuition would cost $45,000 annually (paid at the beginning of each of the next three years), with a moderate 5% increase in tuition for the 2^ndand 3^rdyears. Once he completes his three year Master’s program, he could be reasonably assured of a better position with Schmultz, Inc. starting at $60,000 per year (including an anticipated annual increase of the same 3%). Assuming that the salaries are paid at the end of each year, is the pursuit of Travis's master's degree a worthwhile investment, when factoring an interest rate of 6%, or should he start now.

Q3 Case study: Peter Smith, a 19 year old university student, was suffering from influenza and visited his local GP. He said he began to feel unwell two days earlier and his condition had worsened since with an acute onset of a sore throat(pharyngitis). On examination the following observations were made: Fever of 38.9 degrees C, Runny nose, Sneezing, Enlarged anterior cervical lymph nodes (lymphadenopathy) Peter’s throat was observed to have the following signs: Redness, Swollen, Having a patchy covering of yellow-white exudate over his tonsils The doctor prescribed phenoxymethylpenicillin 500 mg twice per day for ten days.

Question: Given that influenza is caused by a virus, why was Peter prescribed an antibiotic?

Q5. Case study: Peter Smith, a 19 year old university student, was suffering from influenza and visited his local GP. He said he began to feel unwell two days earlier and his condition had worsened since with an acute onset of a sore throat(pharyngitis). On examination the following observations were made: Fever of 38.9 degrees C, Runny nose, Sneezing, Enlarged anterior cervical lymph nodes (lymphadenopathy) Peter’s throat was observed to have the following signs: Redness, Swollen, Having a patchy covering of yellow-white exudate over his tonsils The doctor prescribed phenoxymethylpenicillin 500 mg twice per day for ten days.

Question: Explain why antibiotics are not effective against viruses.

.4 Read the following excerpts from the University of Michigan News Service online article “Women need not lose sleep over menopause,U-M study says” (April 27,2004). ANNARBOR,Mich.—Can’tgetagoodnight’ssleep?Don’tbequicktoblameitonmenopause. Middle-aged women often complain that they sleep poorly,and both women and their health care providers point to menopause as the cause. But University of Michigan researchers Jane Lukacs and Nancy Reame say it may be time to put that assumption to rest.In an article in the justreleased April issue of the Journal of Women’s Health,Lukacs,an assistant research scientist at the U-M School of Nursing, under the direction of nursing professor Reame, tested the connection between the hormone estrogen and women’s sleep quality. Her conclusion:“Estrogen has been blamed for a lot,but that doesn’t seem to be what’s at work here.” To separate aging effects from menopause, Lukacs and her collaborators studied a group of women aged 20–52,and compared them to age-matched women who had gone through menopause, some of whom were using estrogen therapy.For example,she examined a 47-year-old woman still having regular menstrual cycles and compared her data to a 47-year-old woman who had not had regular cycles for 12 months. They found total sleep time,time spent awake during the night,and efficiency of sleep time all were worse for older women than younger women,regardless of whether the older women were still having menstrual cycles and regardless of whether they used estrogen therapy.While young women around age 24 slept about seven hours (416.9 minutes),all women in their 40s,regardless of their estrogen levels or menopause status, got only about six to six-and-a-half hours of sleep (354.9–377.8 minutes). Further, although many women have taken hormone replacement drugs to try to help their sleep,Lukacs and Reame found that for women who were not having hot flashes,there was little difference in sleep between post-menopausal women who were or were not taking estrogen supplements.“Our findings fail to support the popular view that estrogen plays an important role in sleep enhancement,”the article states.“The use of an estrogen patch or gel for three months did not improve any objective measure of sleep architecture.” The research team studied 51 women who participated in an overnight sleep challenge at U-M Hospitals.Women underwent a 24-hour blood sampling protocol to examine their hormone levels and wore electrodes for sleep monitoring from 11 p.m.to 7 a.m.Researchers studied sleep stages, REM sleep and sleep disruption. The researchers noted that because this study involved an in-hospital,one-night sleep observation,further research examining women’s natural sleep patterns in their own homes over multiple nights could give more insight into why women sleep poorly at midlife. They added that in the future,researchers could build on their study and look for such variants as oxygen saturation to look for sleep apnea, leg muscle movement during sleep, and patterns associated with hot flashes,determined by monitoring skin temperature.Hormone replacement therapy might diminish muscle movement during sleep and calm hot flashes,Lukacs said, which could account for some of the beliefs about estrogen improving sleep.

(a) Is this an observational study or an experiment?

(b) What are the explanatory and response variables?Hint:The article states the researcher “tested the connection between the hormone estrogen and women’s sleep quality.”This gives the general variables being linked.However,the article does go on to state some of the specific response variables that were compared. List some of these response variables.

(c) Consider the following hypotheses,tested using a 5% significance level. The use of an estrogen patch or gel for three months does not improve the total sleep time on average. The use of an estrogen patch or gel for three months does improve the total sleep time on average. Basedontheresultsstatedinthearticle,givetwopossiblevaluesforthep-valueofthistest.

(d) Consider the following sentence from the article:“For example,she examined a 47-yearold woman still having regular menstrual cycles and compared her data to a 47-year-old woman who had not had regular cycles for 12 months.”What is this design technique called and why was it done?

(e) What were some of the other possible confounding variables that the researchers suggested might be incorporated into future studies

Students attending a certain university can select from 130 major areas of study. A student's major is identified in the registrar's records with a two-or three-letter code (for example, statistics majors are identified by STA, math majors by MS). Some students opt for a double major and complete the requirements for both of the major areas before graduation. The registrar was asked to consider assigning these double majors a distinct two- or three-letter code so that they could be identified through the student records system.

(a)

What is the maximum number of possible double majors available to the university's students?

double majors

(b)

If any two- or three-letter code is available to identify majors or double majors, how many major codes are available?

codes

(c)

How many major codes are required to identify students who have either a single major or a double major?

codes

(d)

Are there enough major codes available to identify all single and double majors at the university?

Yes

No