In: Accounting
Suppose you are the controller of Nebraska State University. The university president, Lisa Larsson, is preparing for her annual fund-raising campaign for 20X7–20X8. To set an appropriate target, she has asked you to prepare a budget for the academic year. You have collected the following data for the current year (20X6–20X7):
| Undergraduate Division | Graduate Division | |
|---|---|---|
| Average salary of faculty member | $58,000 | $58,000 |
| Average faculty teaching load in semester credit-hours per year (eight undergraduate or six graduate courses) | 24 | 18 |
| Average number of students per class | 30 | 20 |
| Total enrollment (full-time and part-time students) | 3,600 | 1,800 |
| Average number of semester credit-hours carried each year per student | 25 | 20 |
| Full-time load, semester hours per year | 30 | 24 |
For 20X7–20X8, all faculty and staff will receive a 6% salary increase. Undergraduate enrollment is expected to decline by 2%, but graduate enrollment is expected to increase by 5%.
The 20X6–20X7 budget for operation and maintenance of facilities was $500,000, which includes $240,000 for salaries and wages. Experience so far this year indicates that the budget is accurate. Salaries and wages will increase by 6% and other operating costs will increase by $12,000 in 20X7–20X8.
The 20X6–20X7 and 20X7–20X8 budgets for the remaining expenditures are as follows:
| 20X6–20X7 | 20X7–20X8 | |
|---|---|---|
| General administrative | $500,000 | $525,000 |
| Library | ||
| Acquisitions | 150,000 | 155,000 |
| Operations | 190,000 | 200,000 |
| Health services | 48,000 | 50,000 |
| Intramural athletics | 56,000 | 60,000 |
| Intercollegiate athletics | 240,000 | 245,000 |
| Insurance and retirement | 520,000 | 560,000 |
| Interest | 75,000 | 75,000 |
Tuition is $92 per credit hour. In addition, the state legislature provides $780 per full-time-equivalent student. (A full-time equivalent is 30 undergraduate hours or 24 graduate hours.) Full-tuition scholarships are given to 30 full-time undergraduates and 50 full-time graduate students.
Revenues other than tuition and the legislative apportionment are as follows:
| 20X6–20X7 | 20X7–20X8 | |
|---|---|---|
| Endowment income | $200,000 | $210,000 |
| Net income from auxiliary services | 325,000 | 335,000 |
| Intercollegiate athletic receipts | 290,000 | 300,000 |
The chemistry/physics classroom building needs remodeling during the 20X7–20X8 period. Projected cost is $575,000.
Prepare a schedule for 20X7–20X8 that shows, by division, (a) expected enrollment, (b) total credit hours, (c) full-time-equivalent enrollment, and (d) number of faculty members needed.
Calculate the budget for faculty salaries for 20X7–20X8 by division.
Calculate the budget for tuition revenue and legislative apportionment for 20X7–20X8 by division.
Prepare a schedule for President Larsson showing the amount that must be raised by the annual fund-raising campaign.
In: Accounting
| Antiques R Us is a mature manufacturing firm. The company just paid a $9 dividend, but management expects to reduce the payout by 8 percent per year indefinitely. |
| Required : |
| If you require an 12 percent return on this stock, what will you pay for a share today? |
In: Finance
Much of what we purchase we do not need. comment on how you feel marketers are successful in pushing us to purchase items we otherwise would not have. Describe an example of a product you were convinced to purchase and explain the approach taken by the company
In: Economics
In: Economics
A dean of a business school wanted to know whether the graduates
of her school used the statistic skills that they learn in
university during their first year of employment after graduation.
As of today there are 34,050 graduates in total from the business
school. The Dean is committed to allocate more funding to the
development of the school’s statistics course if at least 17% of
its graduates use statistics skills during their first year of
employment. She surveyed 500 graduates. 105 graduates responded
that they actually find the statistic skills they learnt in
university useful and applicable in their first year of employment.
Estimate with 95% confidence the proportion of all of the business
school graduates who use their statistic skills during their first
year of employment.
b) Obtain the 95% confidence interval estimate of the proportion of
all of the business school graduates who use their statistic skills
during their first year of employment. Display working.
In: Statistics and Probability
A researcher wants to determine the relationship between the typing speed of administrative assistants at a major university is related to the time that it takes for the admin assistant to learn to use a new software program and may be used to predict learning time. Data are gathered from 12 departments at the university.
Dept Typing speed (words per minute) Learning time (hours)
A 48 7
B 74 4
C 52 8
D 79 3.5
E 83 2
F 56 6
G 85 2.3
H 63 5
I 88 2.1
J 74 4.5
K 90 1.9
L 92 1.5
Run a regression analysis of the data on Excel. Use your output to answer the following:
d. What is the value of the correlation coefficient between typing speed and learning time? What does is say about the strength of the relationship?
In: Statistics and Probability
Fifteen students from Poppy High School were accepted at Branch
University. Of those students, six were offered academic
scholarships and nine were not. Mrs. Bergen believes Branch
University may be accepting students with lower ACT scores if they
have an academic scholarship. The newly accepted student ACT scores
are shown here.
Academic scholarship: 25, 24, 23, 21, 22, 20
No academic scholarship: 23, 25, 30, 32, 29, 26, 27, 29, 27
Part A: Do these data provide convincing evidence
of a difference in ACT scores between students with and without an
academic scholarship? Carry out an appropriate test at the α = 0.02
significance level. (5 points)
Part B: Create and interpret a 98% confidence
interval for the difference in the ACT scores between students with
and without an academic scholarship. (5 points)
In: Statistics and Probability
Twenty students from Sherman High School were accepted at
Wallaby University. Of those students, eight were offered military
scholarships and 12 were not. Mr. Dory believes Wallaby University
may be accepting students with lower SAT scores if they have a
military scholarship. The newly accepted student SAT scores are
shown here.
Military scholarship: 850, 925, 980, 1080, 1200, 1220, 1240,
1300
No military scholarship: 820, 850, 980, 1010, 1020, 1080, 1100,
1120, 1120, 1200, 1220, 1330
Part A: Do these data provide convincing evidence
of a difference in SAT scores between students with and without a
military scholarship? Carry out an appropriate test at the α = 0.05
significance level. (5 points)
Part B: Create and interpret a 95% confidence
interval for the difference in SAT scores between students with and
without a military scholarship.
In: Statistics and Probability
1) Rising worker productivity means that more workers are demanded, other things being equal. When workers have access to better tools, they can produce more, and when they produce more, they become more valuable to their companies. If this works, then why do some people oppose technological progress, fearing that better technology will lead to less, not more, jobs being created?
2) Suppose that you have a choice between two options. Option A - you can study four years in the world’s best university, but you are not allowed to tell anyone that you have studied there. Option B - after 4 years of never once attending the world’s best university, you will get the diploma from this school and you can display it whenever and however you please. Which of these options would enhance your future earnings more and why?
In: Economics