You are presenting a class in hacking at CCSU. You find code online that that has been used to exploit weaknesses in an information system to download information from that system. You have an agreement with CCSU that allows you to be a “white hat hacker” to identify weaknesses in its security systems. During the class you run the software which actually penetrates the CCSU system, and the school newspaper runs an article. It turns out the code was written by another “white hat” hacker. She files suit against you for copyright infringement. Looking at the relevant factors, can you argue that your use is protected under the fair use doctrine?

Disequilibrium

(GRAPH each question, starting with equilibrium and then showing the shortage or surplus)

1. Can you explain the practice of scalping tickets for major sporting events in terms of market shortages? How else might tickets be distributed?

2. If rent controls are so counterproductive, why do cities impose them? How else might the housing problems of poor people be solved?

3. Who is harmed by rent controls? Who is helped?

4. What would happen in the apple market if the government set a minimum price of $2.00 per apple? What might motivate such a policy?

5. Is there a shortage of on-campus parking at your school? How might the shortage be resolved?

1) The IQ of the author’s college students is normally distributed with a mean of 100 and a standard deviation of 15. What percentage of college students have IQs between 70 to 130? (Use the empirical rule to solve the problem) Please explain how you get the answer. You can use excel to show how to use the formula if needed.

2) At a high school, GPA’s are normally distributed with a mean of 2.6 and a standard deviation of 0.5. What percentage of students at the college have a GPA between 2.1 and 3.1? Please explain how you get the answer. You can use excel to show how to use the formula if needed.

3. For the following four regression equations, explain what the slope and intercept mean.

a. wage=2.05+1.32 education, where wage is dollars earned per hour and education is number of years the person went to school.

b. GPA=1.14+ 0.23 hours study, where GPA is measured in points and hours study is the number of hours spend studying in a week.

c. sleep=10.33-0.44 work,  where sleep is hours spent sleeping per night and work is the number of hours worked per day.

d. savings=586+0.15 salary, where savings is dollars saved in the bank and the salary is the number of dollars earned in a year.

A binary variable can be introduced to a mixed integer program to allow for a “threshold constraint.” A threshold constraint says that if any units are used, at least a specified minimum amount must be used. Define X as the number of students that will go on a planned field trip. The school will rent a bus only if at least 20 students plan to go on the trip. Define Y as a binary variable that equals 1 if X is nonzero, and equals 0 if X is zero (i.e., if nobody goes on the trip). If M represents a very large number, what two constraints can be added to the mixed integer program to ensure that if any students go on the field trip, at least 20 have to go?

In 2010 polls indicated that 73% of Americans favored mandatory testing of students in public schools as a way to rate the school. This year in a poll of 1,000 Americans 71% favor mandatory testing for this purpose. Has public opinion changed since 2010?

We test the hypothesis that the percentage supporting mandatory testing is less than 73% this year. The p-value is 0.016.

Which of the following interpretation of this p-value is valid?

1. If 73% of Americans still favor mandatory testing this year, then there is a 1.6% chance that poll results will show 71% or fewer with this opinion.
2. The probability that Americans have changed their opinion on this issue since 2010 is 0.016.
3. There is a 1.6% chance that the null hypothesis is true.

Waterway Corp. enters into a contract with a customer to build an apartment building for $1,069,900. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $153,300 to be paid if the building is ready for rental beginning August 1, 2021. The bonus is reduced by $51,100 each week that completion is delayed. Waterway commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:

Determine the transaction price for this contract.

Prof. Weiner is interested in analyzing the distribution of the variable X=’grading in Microeconomics for Policy Analysis’. He collected administrative information from the School from 1990 to 2010 and based on this data he concludes X follows a normal distribution with mean 75 and variance 30.

2.1 What is the probability that a typical student from the current cohort enrolled in Microeconomics for Policy Analysis receives a grade above 80?

2.2 Between what values will the grades of 95% of all students in the current cohort fall?

2.3 Find the value that represents the 25^th and 75^th percentile of this distribution. Then, find the interquartile range. Can a student who got 45 be considered a potential outlier?