From a random sample of potential voters in an upcoming election, 47% indicated they intended to vote for Candidate R. A 95 percent confidence interval was constructed from the sample and the margin of error for the estimate of 5%. Which of the following is the best interpretation of the interval?

A) We are 95% confident that the proportion who intend to vote for Candidate R from the random sample is between 42% and 52%

B) We are 95% confident that the proportion who intend to vote for Candidate R from the population is between 42% and 52%

C) We are 95% confident that the proportion who intend to vote for Candidate R from the random sample is 47%

D) We are 95% confident that the proportion who intend to vote for Candidate R from the population is 47%

E)We are confident that 95% of the population intended to vote for Candidate R

Assume you are working for the US government. The president wants your department to study the clothing market. The US governments need to raise revenues from the Clothing market, and you are assigned to study the cotton shirt market. You have access to the previous data: - If P = 20 then ???? = 80. If P = 30 then ???? = 70. - If P = 20 then ???? = 25. If P= 30 then ???? = 40. The US government needs at least 200 dollars of revenues raised from this market. If you raise more than that the government will accept the money but the president prefers you only raise that amount. So, make sure you do not make people pay too much unless you must. (The government revenue >= 200)

The US government needs at least 200 dollars of revenues raised from this market. If you raise more than that the government will accept the money but the president prefers you only raise that amount. So, make sure you do not make people pay too much unless you must. (The government revenue >= 200)

a.) Try to impose a tax. You consider imposing X dollar amount of tax on each shirt being sold. You can impose this tax on buyers or sellers. Which one do you prefer? How much will be the tax imposed on each shirt? How much will the consumer surplus and producer surplus in this market change after you introduce this tax?

b.) The President signed a free trade agreement with the Japanese prime minister. The shirt market is operating under free trade now with a world price of 20 dollars. Instead of taxing the market, you can impose a tariff to raise revenues for the government without hurting the domestic producers. How much will be tariff you impose on foreign-made shirts? How much will the consumer surplus and producer surplus change after you impose this tariff?

c.) Now that the shirt market is open to foreign producers as well, you can tax, impose a tariff, or use a combination of both. Provide an optimal policy for the US government to raise the needed revenues while minimizing the damage to American consumers and producers.

Student ID   Age   Gender   Nationality   Married   Children   Undergrad Major   GMAT Score   Previous salary   Monthly Expenses   School Debt
1   30   Male   US   No   0   Marketing   717   48100   1710   26580
2   32   Male   US   No   0   Finance   658   62600   1870   0
3   32   Female   US   No   0   Engineering   669   55500   1630   30560
4   30   Male   India   No   0   Marketing   687   45600   1430   0
5   39   Male   US   No   0   Marketing   633   59700   2020   25380
6   33   Male   US   No   0   Other non-business   658   70000   2610   0
7   30   Female   Europe   No   0   Other business   653   44500   1650   32370
8   35   Female   US   No   0   Engineering   784   54000   1930   33240
9   37   Female   Other   No   0   Engineering       40000   1640   64330
10   34   Male   US   Yes   0   Finance       72100   2670   39950
11   32   Female   US   No   0   Other business   784   42200   1130   9490
12   39   Male   US   Yes   2   Other non-business   627   69300   2320   70780
13   33   Female   US   Yes   1   Marketing   709   46100   2290   69360
14   26   Female   US   No   0   Finance   757   53100   1820   12490
15   35   Male   US   No   0   Finance   735   76400   1300   8840
16   35   Male   US   No   0   Marketing       67500   2230   26330
17   33   Male   US   No   1   Other non-business   686   67700   1770   48870
18   30   Male   India   No   0   Marketing       46700   1370   22690
19   29   Female   India   No   0   Marketing   749   46500   1530   20130
20   36   Female   US   Yes   1   Engineering   736   73700   1970   31150
21   36   Male   US   Yes   0   Finance   691   63400   1750   0
22   30   Male   South America   No   0   Marketing   698   51900   2550   33910
23   39   Male   India   No   0   Other non-business   743   63300   1750   29180
24   34   Male   US   Yes   1   Engineering   710   63200   2130   53280
25   40   Male   US   Yes   0   Other business   662   56200   2020   38560
26   30   Female   South America   Yes   0   Finance       43300   1240   26400
27   33   Male   US   Yes   1   Engineering       72200   1820   19450
28   32   Female   India   Yes   2   Engineering   718   44300   2600   68260
29   34   Male   US   No   0   Other non-business   716   59300   1620   0
30   40   Male   China   No   0   Finance   711   69100   2270   30460
31   37   Male   US   No   0   Engineering       76100   2430   0
32   28   Male   US   No   0   Marketing   743   58800   1540   35420
33   28   Male   US   No   0   Engineering   740   57200   1300   19180
34   27   Female   US   No   0   Finance   695   45000   2100   72220
35   31   Female   US   Yes   0   Other business       54200   1950   14640
36   35   Male   US   Yes   1   Other business       69500   2390   38330
37   30   Male   US   No   0   Engineering   765   77000   1450   16720
38   34   Female   China   No   0   Finance   770   47900   1970   39250
39   33   Male   US   Yes   1   Engineering       78900   1920   44820
40   34   Male   US   No   0   Other business   726   62300   2210   23620

1. Generate the 10 random samples of size 30 of School Debt variable. Find the mean and standard deviation of the each sample. Analyze the sample mean and standard deviation with the population mean and population standard deviation. In your workbook, rename the Sheet1 tab on the bottom of worksheet 1 to Random Sample of School Debt.

[The following information applies to the questions displayed below.]

Three different companies each purchased trucks on January 1, Year 1, for $50,000. Each truck was expected to last four years or 200,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 66,000 miles in Year 1, 42,000 miles in Year 2, 40,000 miles in Year 3, and 60,000 miles in Year 4. Each of the three companies earned $40,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation.

Answer each of the following questions. Ignore the effects of income taxes.

b-1. Calculate the net income for Year 4.
b-2. Which company will report the lowest amount of net income for Year 4?

Which company will report the lowest amount of net income for year 4?

Problem 1: John and Mary are married and file a joint return claiming their three children ages 4, 5, and 18, as dependents. Their AGI is $125,400 and their pre credit tax liability is $13, 431. They are not claiming any other tax credits in 2019. Complete the Child Tax Credit Worksheet Parts 1 and 2 to determine John and Mary’s child tax credit for 2019.

Problem 2: Jose and Jamie have a 5-year-old child. Jose has a salary of $18,200. Jamie is self-employed with a loss of $1,500. Jose and Jamie have received $200 in taxable interest during the year. Their earned income for the year is $16,700 and their adjusted gross income is $16,900. Use the earned income tax credit worksheet and the EIC table to calculate the amount of Earned Income Tax Credit.

Problem 3: Millie Smith (SS# 045-87-8963) has been widowed for 4 years and has one dependent child, Jackson Williams (SS# 564-89-1235). Millie’s adjusted gross income and her earned income is $90,000. Millie’s employer withheld $1,500 in the dependent care flexible spending account. This amount was excluded from her wage income. Assume her taxable income is $45,500, and her regular tax is $5,191. Millie paid child care expenses of $2,500 to Handprints Child Care (1 main street, New Haven, CT 06512, EIN# 05-8964213). Calculate Millie’s child and dependent care credit for 2019 using form 2441. Make realistic assumptions about any missing data.

1. Use the following information for the next three problems.  Suppose that  = 30% of the students at a large university must take a statistics course.  Suppose that a random sample of 50 students is selected.  Let  = the percent of students in the sample who must take statistics.

   Different samples will produce different values of .  In order for the values of  to vary according to a normal model, we need to check two conditions.  Which two of the following need to be checked?

   	a.	The sample size  is large ().
   	b.	The sample observations are independent of each other.
   	c.	and
   	d.	The population distribution is normal in shape.

QUESTION 4

1. 95% of all samples will produce a  between __________ and __________.

   	a.	0.235 and 0.365
   	b.	0.280 and 0.320
   	c.	0.105 and 0.495
   	d.	0.170 and 0.430

QUESTION 5

1. What is the chance that more than 38% of the students in a sample must take statistics (i.e. what is the chance that  > 0.38)?

   	a.	0.6480
   	b.	0.8907
   	c.	0.1093
   	d.	1.23

Use the following information for the next three problems.  Suppose that  = 30% of the students at a large university must take a statistics course.  Suppose that a random sample of 50 students is selected.  Let  = the percent of students in the sample who must take statistics.

Different samples will produce different values of .  In order for the values of  to vary according to a normal model, we need to check two conditions.  Which two of the following need to be checked?

2. 95% of all samples will produce a  between __________ and __________.

3. What is the chance that more than 38% of the students in a sample must take statistics (i.e. what is the chance that  > 0.38)?

In the following situations, decide whether you would use a personal interview, telephone survey, or self-administered questionnaire. Give you reasons. a. A survey of the residents of a new subdivision on why they happened to select that area in which to live. You also wish to secure some information about what they like and don not like about life in the subdivision. b. A poll of students at Metro University on their preferences among three candidates who are running for president of the student government. c. A survey of 58 wholesale grocery companies scattered over the eastern United States, on their personnel management policies for warehouse personnel. d. A survey of financial offers of the Fortune 500 Corporations to learn their predictions for the economic outlook in their industries in the next year. e. A study of applicant requirements, job tasks, and performance expectations as part of a job analysis of student work-study jobs on a college campus of 2,000 students, where 1,500 are involved in the work-study program.