1.I recently asked 100 middle school students to complete a statistics test. The mean score on the test was 30 points with a standard deviation of 5 points. The scores followed a normal distributions. Using this information, calculate the following:

a. What is the probability a student earned a score of 45 points or less? P (score < 45 points) =

b. What is the probability a student earned a score higher than 30 points? P(score > 30) =

c. What is the probability a student earned a score between 25 and 45 points? P (25 points < score < 45 points) =

d. I want to know the cutoff value for the upper 10%. What score separates the lower 90% of scores from the upper 10%? P (score < _______) = 90% or 0.90 cumulative area to the left

e. I want to know the cutoff values for the lowest 25%. P (score < ________) = 25% or 0.25 cumulative area to the left

f. I would also like to know the cut off values for the highest 25%. P (score > _______) = 25% or 0.25 cumulative area to the right

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 athrough h that require adjusting entries on December 31, 2017, follow.
  
Additional Information Items

An analysis of WTI's insurance policies shows that $3,335 of coverage has expired.

An inventory count shows that teaching supplies costing $2,891 are available at year-end 2017.

Annual depreciation on the equipment is $13,342.

Annual depreciation on the professional library is $6,671.

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 $2,500, 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 $4,061 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.

2-a. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts.

2-b. Prepare an adjusted trial balance.

Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts.

Prepare Wells Technical Institute's income statement for the year 2017.

Sanchez Technical Institute (STI), a school owned by Carlos Sanchez, provides training to individuals who pay tuition directly to the school. STI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, is found on the trial balance tab. STI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow.

1. An analysis of STI’s insurance policies shows that $2,700 of coverage has expired.
2. An inventory count shows that teaching supplies costing $3,480 are available at year-end.
3. Annual depreciation on the equipment is $5,000.
4. Annual depreciation on the professional library is $9,400.
5. On November 1, STI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,800, and the client paid the first five months’ fees in advance. When the cash was received, the Unearned Training Fees account was credited.
6. On October 15, STI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $9,000 of the tuition has been earned by STI.
7. STI’s two employees are paid weekly. As of the end of the year, two days’ salaries have accrued at the rate of $240 per day for each employee.
8. The balance in the Prepaid Rent account represents rent for December.
   Prepare journal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross method.
   

Prepare journal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross method.

You recently ran into one of your former high school teachers. You were surprised to learn that he’d left teaching, gone back to school, and, a little more than a year ago, started a business that creates websites for small companies. It so happens that he needs a loan to expand his business, and the bank wants financial statements. When he found out that you were studying accounting, he asked whether you’d look over a set of statements that he’d just prepared for his first year in business. Because you’re anxious to show off your accounting aptitude, you agreed.

First, he showed you his income statement. It looked fine: revenues (from designing websites) were $94,000, expenses were $86,000, and net income was $8,000. When you observed how unusual it was that he’d earned a profit in his first year, he seemed a little uneasy.

“Well,” he confessed, “I fudged a little when I prepared the statements. Otherwise, I’d never get the loan.”

He admitted that $10,000 of the fees shown on the income statement was for work he’d recently started doing for a client (who happened to be in big trouble with the IRS). “It isn’t like I won’t be earning the money,” he explained. “I’m just counting it a little early. It was easy to do. I just added $10,000 to my revenues and recorded an accounts receivable for the same amount.”

You quickly did the math: without the $10,000 payment for the client in question, his profit of $8,000 would become a loss of $2,000 (revenues of $84,000 less expenses of $86,000).

As your former teacher turned to get his balance sheet, you realized that, as his accountant, you had to decide what you’d advise him to do. The decision is troublesome because you agree that if he changes the income statement to reflect the real situation, he won’t get the bank loan.

1. What did you decide to do, and why?

2. Assuming that he doesn’t change the income statement, will his balance sheet be incorrect? How about his statement of cash flows? What will happen to next year’s income: will it be higher or lower than it should be?

3. What would happen to your former teacher if he gave the bank the fraudulent financial statements and the bank discovered the truth? How could the bank learn the truth?

On January 2 Sheldon Eagle started an aviation training school named Fly Eagle Fly. Record the following January 2018 transactions in appropriate general journal form:

January 2: Mr. Eagle invested $50,000 of cash, $15,000 of office equipment (a computer and copy machine) and $2,000 of office furniture in the business in exchange for 100 shares of capital stock.

                3: Purchased a one-year (January 2018 through December 2018) professional liability insurance policy for $3,600.

                4: Paid office rent in advance for January, February and March $6,000. (Consider the January rent as an expense).

                5: Purchased $500 of office supplies for cash.

                8: Performed training sessions for client ABC $10,000 and collected this amount.

              15: Paid the secretary his semi-monthly salary of $1,000.

              16: Purchased $2,000 of office supplies on account.

               18: Purchased a car for business purposes for $25,000. He paid $5,000 down and signed a promissory note for the balance.

               20: Received a telephone bill for $100.

               21: Purchased and paid for another office computer, $1,500.

               23: Billed Client DEF $5,000 for training services rendered.   

               25: Received $ 3,000 from Client GHI for training that will be performed in May.

29: Paid $200 for maintenance costs for the car.

30: Paid the telephone bill received on January 20 and paid the secretary his semi-monthly salary of $1,000.

               31:   Received an invoice for January office cleaning services $2,500.

2. After you record the above transactions in the journal, post them to ledger accounts. Make up simple T accounts similar to those below:

                              _________________________________                                ______________________________

                                   |                            |

                                   |                            |

                                   |                            |

                                   |                            |

                                   |                            |

3. Prepare a trial balance at January 31, 2018.

4. Prepare an income statement for the month of January.

Question 6 (1 point)
A high school math teacher believes that male and female students who graduated from the school perform equally well on SAT math test. She randomly chooses 10 male students and 10 female students who graduated from this school. The following are the SAT math scores of the 20 students:

Male: 23, 30, 27, 29, 22, 34, 36, 28, 28, 31
Female: 22, 33, 30, 28, 28, 31, 34, 25, 29, 21

Give a 95% confidence interval for the difference in the mean SAT math score between male and female students who graduated from this school.

Question 6 options:

-3.37 to 4.77

-2.18 to 6.01

-2,45 to 3.85

-0.34 to 7.61

Question 7 (1 point)
A survey asks this question "How long did you spend on shopping in the past week?" The responses (in hours) of 15 people are given below:

3, 0, 4, 1, 6, 1, 2, 4, 5, 2, 5, 4, 2, 5, 3

Find a 95% confidence interval for the mean number of hours people spent on shopping in the past week.

Question 7 options:

2.18 to 4.14

2.15 to 4.11

2.07 to 4.03

1.94 to 3.90

Question 8 (1 point)
A survey asks this question "How long did you spend on shopping in the past week?" The responses (in hours) of 15 people are given below:

3, 0, 4, 1, 6, 1, 2, 4, 5, 2, 5, 4, 2, 5, 3

Test the claim that the mean number of hours people spent on shopping in the past week is greater than 3 hours.

What is the p-value?

Question 8 options:

0.6128

0.7744

0.6635

0.3872

Question 9 (1 point)
Twelve students who were not satisfied with their ACT scores particiapted in an online 10-hour training program. The ACT scores before and after the training for the 12 students are given below:

Student Before After
1 23 27
2 25 26
3 27 31
4 30 32
5 24 26
6 25 24
7 27 31
8 26 28
9 28 30
10 22 25
11 20 24
12 29 32
Test a claim that the program is effective in improving a student’ ACT score.

What is the p-value?

Question 9 options:

Essentially 0

0.0325

0.0478

1.000

Question 10 (1 point)
A county environmental agency suspects that the fish in a particular polluted lake have elevated mercury level. To confirm that suspicion, five striped bass in that lake were caught and their tissues were tested for mercury. For the purpose of comparison, four striped bass in an unpolluted lake were also caught and tested. The fish tissue mercury levels in mg/kg are given below.

polluted: 0.580, 0.711, 0.571, 0.666, 0.598
unpolluted: 0.382, 0.276, 0.570, 0.366

Construct the 90% confidence interval for the difference in the population means based on these data.

Question 10 options:

0.05 to 0.40

0.08 to 0.37

0.10 to 0.35

0.04 to 0.41

A business school placement director wants to estimate the mean annual salaries 5 years after students graduate. A random sample of such graduates found a sample mean of $427,400. A confidence interval for the population mean annual salaries 5 years after students graduate is then estimated to be from $419,020 to $435,780. If the placement director considers that this confidence interval is too wide and would like to have an interval of half width only, what should he do?

Select one:

A. Keeping all others constant, decrease the sample size by half.

B. Keeping all others constant, reduce the confidence level by half.

C. None of the other choices.

D. Keeping all others constant, choose another sample with half sample mean.

In your last semester of nursing school, you note that your clinical instructor changes teaching tactics. No one looks over your shoulder any longer during every assessment, you are allowed more freedom to perform assessments and make clinical judgments, the clinical hours coincide with normal shift hours, and you are allowed to volunteer to perform nursing procedures with staff nurses. Although this makes you nervous, you realize that this is necessary for your transition into nursing practice.

Top of Form

1. Identify strategies used by the instructor to assist you in your transition.
   
2. What other steps could the clinical instructor take to assist your transition to nursing?
   
3. What strategies does your nursing program use to assist students to transition into realistic nursing practice?
   
4. Identify a support system that can assist you during the transition period.