Q1:

Let’s say our research question we want to find the average (mean) wage among all workers in the United States. Let’s say (and this is obviously not a very good method) we go around UC and stop 500 people and ask them what their wage is and calculate the mean wage.

• What is our population?
• What is our sample?
• What is the parameter?
• What is the statistic?
• What are some problems with our sampling method?

Q2:

Identify the scale of measurement: nominal, ordinal, interval, ratio

• Zip codes
• Stock prices
• Item size (small, medium, large)
• Income of households, measured in dollars
• Educational level, recorded as (High School, some college, college graduate)
• Test score (0-100), measuring score on first statistics exam
• Test score (0-100), measuring overall knowledge of statistics
• A video game was previewed to a group of 30 teenagers. The teens were asked to rate the quality of the graphics.

Q3

A paper manufacturer in Country A sells much of its paper in Country B. The manufacturer is paid in Country​ B's dollars, but pays its employees in Country​ A's dollars. The manufacturer is interested in the fluctuating exchange rate between these two currencies. Each trading day in 2005 the exchange rate fluctuated by several basis points.​ (A basis point is 1/100 of a​ percent.) A year of data is collected.

• Identify whether the data are cross sectional or a time series.
• Give a name to each variable and indicate if the variable is​ categorical, ordinal, or numerical​ (if a variable is​ numerical, include its units if​ possible)
• List any concerns that you might have for the accuracy of the data. Select all that apply.

1. The recorded exchange rates might not be accurate for 2005.
2. The fluctuations of the exchange rate in 2005 might not be typical of other years.
3. The exchange rate is dependent on the country in which the data is recorded.
4. There are no concerns regarding the accuracy of the data.

Q4: A bakery is trying to decide what makes a loaf a bread sell. There are three locations of this bakery and they gather data at all three locations. They measure the volume of the loaf and whether or not it has nuts in it. They then time how long it takes the loaf to sell. What are the cases? (unit of observation) List the variables and the scale of measurement

Q5:

• Why is the median not an acceptable measure for nominal data?

• Why is the mean not an acceptable measure for ordinal data?

• In a strongly skewed distribution, would you prefer the mean or the median?

Q6:

Clara asked twenty-one people what their favorite number is. Please calculate the most complex yet appropriate measure of central tendency for the following data:

7, 3, 0, 7, 8, 2, 1, 2, 7, 6, 10, 6, 7, 1, 10, 0, 6, 8, 10, 3, 1

Direct Printing Company currently leases its only copy machine for $1,600 a month. The company is considering replacing this leasing agreement with a new contract that is entirely commission based. Under the new​ agreement, Direct would pay a commission for its printing at a rate of $ 10 for every 500 pages printed. The company currently charges $0.19 per page to its customers. The paper used in printing costs the company $ 0.01 per page and other variable​ costs, including hourly​ labor, amount to $ 0.10 per page.

Need summary of the below article.

The four components of gross domestic product are personal consumption, business investment, government spending, and net exports. That tells you what a country is good at producing. GDP is the country's total economic output for each year. It's equivalent to what is being spent in that economy. The only exception is the shadow or black economy.

The formula to calculate the components of GDP is Y = C + I + G + X.

That stands for: GDP = Consumption + Investment + Government + Net Exports, which are imports minus exports. In 2017, U.S. GDP was 68 percent personal consumption, 17 percent business investment, 17 percent government spending, and negative 3 percent net exports.

Here's how the Bureau of Economic Analysis divides U.S. GDP into the four components.

1. Personal Consumption Expenditures

Consumer spending contributes 70 percent of total United States production. In 2017, that was $12.6 trillion. Note that the figures reported are real GDP. It's the best way to compare different years. They are rounded to the nearest billion. The BEA sub-divides personal consumption expenditures into goods and services.

Goods are further sub-divided into two even smaller components. The first is durable goods, such as autos and furniture. These are items that have a useful life of three years or more. The second is non-durable goods, such as fuel, food, and clothing.

The retailing industry is a critical component of the economy since it delivers all these goods to the consumer. The BEA uses the latest retail sales statistics as its data source. Since this report comes out monthly, it gives you a preview of this component of the quarterly GDP report.

Services are almost half of U.S. GDP.

These include commodities that cannot be stored and are consumed when purchased. It contributes 45 percent of GDP. That's a big increase since the 1960s when services contributed 30 percent to GDP. Thank the expansion in banking and healthcare. Most services are consumed in the United States. These are difficult to export.

Why does personal consumption make up such a large part of the U.S. economy? America is fortunate to have a large domestic population within an easily accessible geographic location. It's almost like a huge test market for new products. That advantage means that U.S. businesses have become excellent at knowing what consumers want.

2. Business Investment

The business investment includes purchases that companies make to produce consumer goods. But, not every purchase is counted. If a purchase only replaces an existing item, then it doesn't add to GDP and isn't counted. Purchases must go toward creating new consumer goods to be counted.

In 2017, business investments were $3.197 trillion. That's 18 percent of U.S. GDP. It's double its recession low of $1.5 trillion in 2009. In 2014, it beat its 2006 peak of $2.3 trillion. The BEA divides business investment into two sub-components: Fixed Investment and Change in Private Inventory.

Most of Fixed Investment is non-residential investment. That consists primarily of business equipment, such as software, capital goods, and manufacturing equipment. The BEA bases this component on shipment data from the monthly durable goods order report. It’s a good leading economic indicator.

A small but important part of non-residential investment is commercial real estate construction. The BEA only counts the new construction that adds to total commercial inventory. Resales aren't included. The BEA adds them to GDP in the year they were built.

Fixed investment also includes residential construction, which includes new single-family homes, condos, and townhouses. Just like commercial real estate, the BEA doesn't count housing resales as fixed investments. New home building was $600 billion in 2017.

That was 3 percent of GDP. Combined, commercial and residential construction was $1.07 trillion or 6 percent of GDP.

The 2008 financial crisis burst the bubble in housing. Residential construction reached its peak in 2005 when it added $872 billion to GDP. Comparisons over time are always adjusted for inflation. It didn't hit bottom until 2010 when only $382 billion was added. Housing's contribution to GDP plummeted from 6.1 percent to 2.6 percent during this time. At its peak in 2005, combined commercial and residential construction contributed $1.3 trillion or 9.1 percent of GDP. In 2010, it fell to a low of $748.7 billion or 5.1 percent of GDP.

Change in Private Inventory is how much companies add to the inventories of the goods they plan to sell. When orders for inventories increase, it means companies receive orders for goods they don't have in stock. They order more to have enough on hand. It's important for companies to have enough inventory so they don't disappoint and turn away potential customers. An increase in private inventories contributes to GDP.

A decrease in inventory orders usually means that businesses are seeing demand slack off. As inventories build, companies will cut back production. If it continues long enough, then layoffs are next. So, the change in private inventories is an important leading indicator, even though it contributed less than 1 percent of GDP in 2017.

3. Government Spending

Government spending was $3.1 trillion in 2017. That's 17 percent of total GDP. It's less than the 19 percent it contributed in 2006. In other words, the government was spending more when the economy was booming before the recession. That's exactly when it should have been spending less to cool things off. Slower spending now is a result of sequestration, which was also timed poorly. Austerity measures shouldn't be used when the economy is struggling to recover.

The federal government spent $1.2 trillion in 2017. Almost 60 percent was military spending. State and local government contributions rose to 11 percent. This increase is because government revenues have improved now that the recession is over.

4. Net Exports of Goods and Services

Imports and exports have opposite effects on GDP. Exports add to GDP and imports subtract.

The United States imports more than it exports, creating a trade deficit. America still imports a lot of petroleum, despite gains in domestic shale oil production. The U.S. economy is based on services, which are difficult to export. In 2017, imports subtracted $3.3 trillion, while exports added $2.5 trillion. As a result, international trade subtracted $859 billion from GDP.

Components of 2017 GDP Chart

On January 15, 2021, Concord Company enters into a contract to build custom equipment for Shamrock Company. The contract specified a delivery date of March 1. The equipment was not delivered until March 31. The contract required full payment of $75,000 30 days after delivery. The revenue for this contract should be ...?

On April 1, 2021, a company loans one of its suppliers $52,000 and accepts a 30-month, 12% note receivable.

Calculate the amount of interest revenue the company will recognize in 2021, 2022, and 2023. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)

In the divisional structure, if there were a separate sales organization responsible for providing revenue for each of the divisions, what are advantages and disadvantages of such a structure?

What if the structure was that way from the outset and an acquisition was made of a company with its own sales force. how hard would it be to integrate the acquired company into the new structure?

On the midnight shift, the number of patients with head trauma in an emergency room has the probability distribution shown below.

(a) Calculate the mean and standard deviation. (Round your mean value to 2 decimal places and standard deviation to 3 decimal places.)

QUESTION 25

The nation's only legal drug enforcement agency is called the:

QUESTION 26

Certificates of registration for pharmacist licensure are granted in most states for a period of:

QUESTION 27

In the United States, drug legislation began in the:

Using the data in the following​ table, and the fact that the correlation of A and B is 0.39​, calculate the volatility​ (standard deviation) of a portfolio that is 70% invested in stock A and 30% invested in stock B.

The standard deviation of the portfolio is _%?