The following table provides information on life expectancies for a sample of 22 countries. It also lists the number of people per television set in each country.

Instructions: When Minitab is used to answer a question below, copy the output from Minitab into your document.

Use Minitab to produce a scatterplot of life expectancy vs. people per television set. Does there appear to be an association between the two variables? Elaborate briefly.

Have Minitab calculate the value of the Pearson correlation coefficient between life expectancy and people per television.

Since the association is so strongly negative, one might conclude that simply sending television sets to the countries with lower life expectancies would cause their inhabitants to live longer. Comment on this argument.

If two variables have a correlation close to +1 or –1, indicating a strong linear association between them, does it follow that there must be a cause-and-effect relationship between them?

This example illustrates the very important distinction between association and causation. Two variables may be strongly associated (as measured by the correlation coefficient) without a cause-and-effect relationship existing between them. Often the explanation is that both variables are related to a third variable not being measured; this variable is often called a lurking variable.

In the case of life expectancy and television sets, suggest a lurking variable that is associated both with a country’s life expectancy and with the prevalence of televisions in the country.

Subject: innovation and technology mangement

Case 2 – Mobile Ads

According to eMarketer, mobile ads will top 100 and it accounts for about 16.5 percent of total advertising spending in 2016. The top five spenders of mobile ads are the United States, China, the United Kingdom, Japan and Germany. This number is expected to increase as the worldwide adoption of smartphones continue to grow. In 2015, there were about 2.6 billion smartphone users. This number is expected to top 6.1 billion globally by 2020.

Businesses are increasingly using mobile ads. Location data from mobile devices is the key element for a successful mobile ad campaign. Facebook and Google are two biggest players that generate the highest revenue from mobile ads. PlaceIQ, a technology form headquartered in New York city collects billions of data points from mobile devices and other sources and is able tract potential customers as they move from one retail location to another retail location – such as from one car dealership to another. PlaceIQ is also able to help businesses find out if the ads can translate to an actual visit by a customer. In addition to its huge data set for business, PlaceIQ also offers location data and analytics tools to businesses and allows them to do their own advertising.

Audi is using the Place IQ data to measure how many potential customers will visit its dealerships before and after they have seen ads. They also want to target potential customers who are visiting their competitors’ showrooms. Stacom Media Group is using PlaceIQ in order to find out how mobile location data can be helpful and eventually attract more customers to a business.

Questions:

a)     By 2020 how many smartphones will be existing globally?

b)    Who are the two leading companies that generate the biggest revenue from mobile ads?

c)     How PlaceIQ impact businesses?

d)    Why is Audi using the services offered by PlaceIQ?

e)    Your overall observation and learning from the above case study.

Scenario: Jim Logan, the owner of an American based small business, Sports Exports, Inc., specializes in exporting footballs to Great Britain. In return, he receives payments in British pounds every month which need to be converted into dollars. He has noticed that the exchange rate between the dollar and the pound at the time of exchange every month is significantly affecting his profits. Since he is a small business owner and not a foreign currency expert, he has hired your consulting firm to advise him with respect to the following matters below. A) Jim Logan recently heard on CNBC that inflation is expected to rise substantially in the United Kingdom, while inflation in the United States will remain low. They also expect that the interest rates in both countries will rise by about the same amount. He asks you to answer the following questions so that he may take the appropriate measures if CNBC is correct in their projections.

1. From an economic perspective, will the pound appreciate or depreciate against the dollar and explain why?

2. Will Sports Exports, Inc. be favorably or unfavorably affected by the future changes and explain why?

3. How can Sports Exports, Inc. use currency futures contracts to hedge against exchange rate risk? Are there any limitations of using currency futures contracts that would prevent Sports Exports, Inc. from locking in a specific exchange rate at which it can sell all the pounds it expects to receive in each of the upcoming months?

4. How can Sports Exports, Inc. use currency options contracts to hedge against exchange rate risk? Are there any limitations of using currency futures contracts that would prevent Sports Exports, Inc. from locking in a specific exchange rate at which it can sell all the pounds it expects to receive in each of the upcoming months?

5. While Mr. Logan believes the CNBC report, he would also like to know what to do if CBNC is incorrect specifically with respect to using futures or options to hedge the exchange rate risk in this opposing scenario? Are there any disadvantages in this scenario?

Case study:

Married with two young children, John and his wife rented a two-bedroom apartment in a safe neighborhood with good schools. John liked his job as a delivery driver for a large foodservice distributor, where he had worked for more than four years. His goal was to become a supervisor in the next year. John’s wife was a stay-at-home mom.

John had always been healthy. Although he had health insurance through his job, he rarely needed to use it. He smoked half a pack of cigarettes each day and drank socially a couple of times a month.

One afternoon, John’s company notified him that it was laying him off along with more than a hundred other employees. Though he was devastated about losing his job, John was grateful that he and his wife had some savings that they could use for rent and other bills, in addition to the unemployment checks he would receive for a few months.

John searched aggressively for jobs in the newspaper and online, but nothing worked out. He began to have feelings of anger and worry that led to panic. His self-esteem fell, and he became depressed. When John’s wife was hired to work part-time at the grocery store, the couple felt better about finances. But demoralized by the loss of his job, John started to drink more often.

Two beers a night steadily increased to a six-pack. John and his wife started to argue more often. Then, about six months after losing his job, John stopped receiving unemployment checks. That week, he went on a drinking binge that ended in an argument with his wife. In the heat of the fight, he shoved her. The next day, John’s wife took the children and moved in with her parents. No longer able to pay the rent, John was evicted from the apartment.

John tried to reconcile with his wife, but she said she’d had enough. Over the next few months, John “couch-surfed” with various family members and friends. At one point, he developed a cold, and when it worsened over a few weeks, he sought care at the emergency department. The hospital staff told him that he would be billed because he didn’t have insurance. John agreed, and a doctor diagnosed him with a sinus infection and prescribed antibiotics. With no money to spare, John could not get the prescription filled.

John continued to live with family and friends, but his heavy drinking and anger only got worse, and his hosts always asked him to leave. He went from place to place. Finally, when John ran out of people to call, he found himself without a place to stay for the night and started sleeping at the park.

One night when John was drunk, he fell and got a cut on his shin. The injury became red and filled with pus. John was embarrassed about his poor hygiene and didn’t want a health care provider to see him. But when he developed a fever and pain, he decided to walk to the nearest emergency department. He saw a provider who diagnosed him with cellulitis, a common but potentially serious bacterial skin infection, and gave him a copy of the patient instructions that read “discharge to home” and a prescription for antibiotics. John could not afford the entire prescription when he went to pick up the antibiotics, but he was able to purchase half the tablets.

Winter arrived, and it was too cold for John to sleep outside, so he began staying at a shelter run by the church. Each morning, he had to leave the shelter by 6 AM. He walked the streets all day and panhandled for money to buy alcohol.

One evening, some teenage boys jumped John in the park, stealing his backpack and kicking him repeatedly. An onlooker called 911, and John was taken to the emergency department. Later that evening, the hospital discharged John. He returned many times to the emergency department for his health care, seeking treatment for frequent colds, skin infections, and injuries. Providers never screen him for homelessness and always discharge him back to “home.”

One day at the park, an outreach team from the local Health Care for the Homeless (HCH), one of about 250 such non-profit organizations in the United States, approached John. The team, including a doctor, nurse, and caseworker, introduced themselves and asked John, “Are you OK?” John didn’t engage. They offered him a sandwich and a warm blanket. John took the food without making eye contact. The team visited John for the next several days. John started making eye contact and telling the team about his shortness of breath and the cut on his arm. The team began seeing John frequently, and he began to trust them.

A couple of weeks later, John agreed to go to the HCH clinic. It was the first time in years that John went to a health clinic. Upon his arrival, the staff at the clinic registered him and signed him up for health insurance through Medicaid and food benefits. John felt comfortable in the clinic, and he saw some of the people who also stayed at the shelter and spent their days in the park. They were happy to see him and told John about how the clinic staff care and would be able to help.

John began going to the HCH clinic on a regular basis. He saw a primary care provider, Maggie, a nurse practitioner. In John’s words, she treated him like a real person. In addition to primary care, the clinic offered behavioral health services. Both scheduled appointments and walk-in care were available. John connected with a therapist and began working on his depression and substance abuse. A year later, John’s health has improved. He rarely needs to go to the emergency room. He is sober and working with a case manager in finding housing.

Discussion Questions:

1. What events in John’s life created a “downward spiral” into homelessness? Which events related to social needs, and which could health care have addressed?
2. What were some of the barriers John faced in accessing health care?
3. Why do you think the emergency department was the first place John thought to go for care? How might the emergency department improve care for patients like John?
4. Why do you think John wouldn’t make eye contact with the HCH team at first? How would you build a trusting relationship with a person like John?
5. What aspects of HCH care do you think represent high-quality care for the homeless? How do you think Maggie made John feel like he was a “real person?”
6. In your own experience, have you encountered a homeless individual? What was that like? Do you recall what you were thinking?

​​Remember some of these questions are Two questions in One. Ensure you answer all completely (detailed) but does not need to be a novel.

You have a falafel cart and you sell falafel every weekday near Washington Square Park during lunch time. Your daily revenue is normally distributed with a mean of $200 and a standard deviation of $50.

(a) Suppose there is another location that might be worth switching to. You plan to experiment with selling there for awhile, and then use a hypothesis test to determine whether you should switch. If the new location has a normally distributed revenue with a true mean of 210 and a standard deviation of 50, how many days would you have to try selling there to have a power of 50%. Use an α = .05 (significance level).

(b) Suppose you try selling at another location for 16 days, and on average you sell $220 worth of falafel with a sample standard deviation of $36 Using an α = .05, test whether the new location is worth switching to.

An amusement park studied methods for decreasing the waiting time (minutes) for rides by loading and unloading riders more efficiently. Two alternative loading/ unloading methods have been proposed. To account for potential differences due to the type of ride and the possible interaction between the method of loading and unloading and the type of ride, a factorial experiment was designed. Use the following data to test for any significant effect due to the loading and unloading method, the type of ride, and interaction. Use α = .05. Use both p-Value and Critical-Value approaches.

1. You’re riding your bike in the bike lane through Golden Gate Park. Suddenly, you drift out of the bike lane and into automobile traffic. Fortunately, you quickly move back into the bike lane and continue toward Ocean Beach. This scenario is a metaphor for homeostasis, where the controlled condition (physiologic variable) is the position of the bike on the road (e.g., inside or outside the bike lane). Identify: (a) The established set point for the controlled condition (b) The receptor (c) The control center (integration center) (d) The effector There’s no need to explain the physiology of vision or muscle contraction. Rather, demonstrate your understanding of feedback systems by mapping the components of a feedback system onto this scenario.

2. The three-dimensional shape of a protein determines its function. Briefly explain these terms as they relate to protein shape and provide a supporting example for each: denature, conformational change, genetic mutation. Each example must include a specific protein.

3.Compare and contrast simple diffusion and facilitated diffusion. In other words, how are they similar and how are they different? Provide supporting examples for each.

4.(a) What is the osmolarity of a solution containing 85 mM C6H12O6, 120 mM KCl, and 24 mM CaCl2? Show your calculations. (b) What would happen to human blood cells put in the solution above? Explain.

On January 1, 2014, Park Corporation sold a $606,000, 6 percent bond issue (8 percent market rate). The company does not use a discount account. The bonds were dated January 1, 2014, pay interest each June 30 and December 31, and mature in five years. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

On January 1, 20X0, Washington Park District issued $1000 of 5-year, 6% debentures. Interest is paid semiannually. The market interest rate at issuance was 10%.

1.   Compute the proceeds from issuing the debentures.

2.   Prepare an analysis of this bond transaction. Show entries for the issuer concerning (a) issuance, (b) first semiannual interest payment, (c) second semiannual interest payment, and (d) payment of maturity value.

Note: Use only the relevant present value information for Question 2.