State the hypotheses, state the test statistic, state the P-value, make an decision, and state a conclusion.

A sample of five third graders took a reading test. They then went on their winter break, and took the test again when they returned. Following are the test scores for each of the students before and after the winter break. Can you conclude that the mean reading score was lower after the winter break? Use ? = 0.05. Assume the populations are normally distributed.

Part B: Critical Thinking-

Ms. Moscato Read the case study and answer the questions. Ms. Moscato, age 74, has aortic stenosis and is scheduled for an aortic valve replacement. She reports fatigue and dyspnea with exertion. 1. What may be the cause of Ms. Moscato’s aortic stenosis? 2. When obtaining Ms. Moscato’s medical history, what should the nurse ask that is relevant to the cause of aortic stenosis? 3. How does the heart compensate for aortic stenosis? 4. What should the nurse anticipate may occur in severe aortic stenosis? 5. Why is angina a common symptom of aortic stenosis?

The table below gives the number of hours five randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.

Hours Studying 1 3 4 5 6

Midterm Grades 65 66 67 74 97

A string quartet consists of two violinists, a violist, and a cellist. A survey of 100 string quartets (400 musicians) reported that 98 cellists had no violin experience and 74 violists had violin experience.
1. What is the probability of selecting a musician who plays or had played the violin?
2. Conditional on selecting a non-cellist, what is the probability of selecting someone who neither plays nor played the violin?
3. Suppose you want to study the monetary implications of switching instruments. What is the minimum probability of selecting a quartet in which at least one player has switched? State, make, and use minimal assumptions as needed.

Required:

For each of the following independent scenarios, determine whether Van Allen Corporation is a principal or an agent for purposes of applying the 5-step revenue recognition model.

1. Van Allen is a broker facilitating the sale of goods and will receive a commission of 10% of the purchase price, which will be withheld from the proceeds at the closing of the transaction and paid to Van Allen.

2. Van Allen is an art dealer. It displays artists' work in its gallery and sells the works at prices determined by the artists. When a piece sells, Van Allen remits to the artist the sales proceeds less a fee. which is the greater of 15% of the purchase price or $300.

3. Van Allen is an art dealer. Van Allen pays a "base purchase price" to the artist for each piece it acquires. It displays the artists' work in its gallery and sells the works at prices it negotiates with the customers. When a piece sells, Van Allen remits an additional payment to the artist if the sales proceeds exceed three times the original base purchase price. The additional payment is 25% of the amount by which the sales proceeds exceed the base purchase price

Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depends on whether the beds are low maintenance beds (mainly ordinary trees and shrubs) or high maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below:

The company already has completed its first stage allocations of costs and has summarized its annual costs and activity as follows:

Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of
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Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of

many towns have been suffering as communities have become increasingly suburban. According to critics, Walmart often contributes to the decline of the downtown of small towns because they build stores at the outskirts of towns, drawing traffic away from the downtown areas.Small towns all over the country have felt the impact of Walmart. This is not a new phenomenon. Walmart began having a tremendous impact on communities in the 1980s. For example, by the late 1980s, Iowa had felt the effects of the growing retail giant. According to an article by Edward O. Welles (1993), “Iowa towns within a 20-mile radius felt [Walmart’s] pull. Their retail sales declined by 17.6% after five years” (para. 13).But it wasn’t just the retail stores that suffered. The specialty stores also felt the impact. The only hope for small merchants was to find a niche. Because of Walmart’s size and strength with suppliers (which has grown tremendously since the early 1980s), the burden has been on the small business owner to change and adapt. Even if they had successful businesses, providing the same goods and products for as long as 50 years, small merchants have been forced to adapt to survive as Walmart enters their territory.The impact can be brutal for business owners. “In exurban Sycamore, Brown County Market lost 40% of its sales after a Wal-Mart Supercenter opened in nearby DeKalb in the late 1990s” (Murphy, 2004, para. 8). The store’s owner laments one of the issues: “’I pay my grocery clerks $13 an hour plus benefits. Wal-Mart pays $7 an hour with no benefits.’ Says owner Daniel Brown. ‘It’s hard for me to compete against that’” (Murphy, 2004, para. 9). It is interesting to note, though, that 7 years later, Walmart’s corporate fact sheet (Walmart Corporate, n.d.-a) states that the average, full-time hourly wage for Walmart stores is $11.75. The fact sheet indicates it is even higher in urban areas and that associates can receive performance-based bonuses.Yet, Walmart has grown to be such a behemoth exactly because it has given customers what they wanted (or at least thought they wanted) – low prices and convenience. One can head to the local Walmart and do virtually all of one’s shopping in one huge building. It is often possible to find a reasonable substitution for those specialty items that can’t be found at Walmart. But if low prices are causing other local merchants to go out of business, are the conveniences that Walmart provides worthwhile in the long run? There is a whole other side to this community economic impact in terms of the economic spin-off of a dollar spent at Walmart versus a dollar spent at other local merchants. There have been myriad stories about low wages and minimal benefits provided to Walmart “associates,” not to mention the hiring of illegal aliens for the fact that China has become a major supplier for the retail giant that used to tout that it only carried products that were made in America.In 2004, Walmart’s average employee worked a 30-hour week and earned about $11,700 a year, which was nearly $2,000 below the poverty line for a family of three (Miller, 2004; Wal-Mart Watch, n.d.). Only 38% of “associates” have company-provided health coverage – as compared to the national average of over 60% (Miller, 2004; United Food and Commercial Workers Union [UFCW] Local 227, n.d.; UFCW Local 770, n.d.; Wal-Mart Watch, n.d.). According to the United Food and Commercial Workers (UFCW) International Union Local 227 (n.d.), “Wal-Mart has increased the premium cost for workers by over 200% since 1993 – medical care inflation only went up 50% in the same period.”Walmart claims to contribute to the well-being of communities. Between January 1996, the year Walmart began posting pictures of missing children in the lobbies of Walmart facilities, and January 2010, 10,409 children have been featured, and 8,716 have been recov3ered. It is clear that Walmart does much in the way of scholarships and philanthropy in addition to offering convenience and low prices. Walmart’s rhetoric centers on the three basic beliefs that Sam Walton established in 1962:1. Respect for the Individual2. Service to Our Customers3. Strive for ExcellenceDiscussion Questions – Choose ONE1. What does it mean for an organization to be ethical in its communication and practices?2. Does Walmart’s rhetoric communicate a different message than its actions?3. Are Walmart’s persuasive tactics concerning its value to a community ethical in approach and intention?4. How would you characterize the culture of Walmart?(Miller, 2004; Wal-Mart Watch, n.d.). Only 38% of “associates” have company-provided health coverage – as compared to the national average of over 60% (Miller, 2004; United Food

A project requires an initial investment of $350,000 and will return $140,000 each year for six years.

If taxes are ignored and the required rate of return is 10%, what is the project's net present value (rounded to the nearest dollar)?

Group of answer choices

$259,742

$114,803

$340,000

$109,742

A project requires an initial investment of $350,000 and will return $140,000 each year for six years.

Ignoring qualitative issues and income taxes, should the company invest in this project?

Group of answer choices

No, because the net present value shows a return that is less than the company's required rate of return.

There is not enough quantitative information to answer this question.

No, because the internal rate of return cannot be calculated.

Yes, because the net present value shows a return that is above the company's required rate of return.

Clothing Products LLC manufactures shirts. The company is interested in outsourcing production to a reputable manufacturing company that can supply the shirts for $10 per unit. Clothing Products LLC produces 20,000 shirts each year. Variable production costs are $4 per unit and annual fixed costs are $160,000. If production is outsourced, all variable costs and 60 percent of annual fixed costs will be eliminated. Ignoring qualitative factors and income taxes, which is the best alternative?

Group of answer choices

Producing the shirts internally is the best option and results in $24,000 in savings compared to outsourcing production.

Outsourcing production is the best option and results in $64,000 in savings.

Producing the shirts internally is the best option and results in $64,000 in savings compared to outsourcing production.

Outsourcing production is the best option and results in $24,000 in savings.

Support Tech Inc. has two customers; Rosen and Hernandez. Rosen generates $300,000 in income after direct fixed costs are deducted, and Hernandez generates $290,000 in income after direct fixed costs are deducted. Allocated fixed costs total $510,000 and are assigned 40 percent to Rosen and 60 percent to Hernandez.  Total allocated fixed costs remain the same regardless of how these costs are assigned to customers.  

The amount of allocated fixed costs to be assigned to Hernandez totals ________ .

Group of answer choices

$204,000

$290,000

$220,000

$306,000

Support Tech Inc. has two customers; Rosen and Hernandez. Rosen generates $300,000 in income after direct fixed costs are deducted, and Hernandez generates $290,000 in income after direct fixed costs are deducted. Allocated fixed costs total $510,000 and are assigned 40 percent to Rosen and 60 percent to Hernandez.  Total allocated fixed costs remain the same regardless of how these costs are assigned to customers.  

After allocating fixed costs to Rosen, the amount of profit or (loss) for this customer totals ________ .

Group of answer choices

$590,000

($16,000)

$204,000

$96,000

Support Tech Inc. has two customers; Rosen and Hernandez. Rosen generates $300,000 in income after direct fixed costs are deducted, and Hernandez generates $290,000 in income after direct fixed costs are deducted. Allocated fixed costs total $510,000 and are assigned 40 percent to Rosen and 60 percent to Hernandez.  Total allocated fixed costs remain the same regardless of how these costs are assigned to customers.  

Which of the following is the course of action preferred by management regarding Hernandez?

Group of answer choices

Drop Hernandez because this customer generates a net loss.

Keep Hernandez because eliminating this customer would have the effect of decreasing company profit by $290,000.

Drop Hernandez because this customer generates less income after direct fixed costs than Rosen.

Keep Hernandez because eliminating this customer would have the effect of increasing company profit by $290,000.

Which of the following best describes the difference between using differential analysis and capital budgeting for decision-making?

Group of answer choices

Differential analysis involves short-run operating decisions and capital budgeting involves long-run capacity decisions.

Differential analysis involves long-run capacity decisions and capital budgeting involves short-run operating decisions.

Differential analysis and capital budgeting require an analysis of differential revenues and costs.

Differential analysis requires calculating the present value of future cash flows and capital budgeting does not.

In 2000 Firestone tires had a major problem on their hands, several of their tires were exploding while being driven, causing serious injuries and death to its customers. In fact on May 2, 2000 the National Highway Traffic Safety Administration opeed an investigation into Firestone tires based on reports of tread separation on some of its tires. At that point, the agency had received 90 complaints, including reports of 33 crashes resulting in 27 injuries and four deaths. Answer the following based on your independent research on the Firestone case:

a. What type of tort claim would an injured or deceased party pursue against Firestone?

b. What is the goal of tort law and how does it apply to the Firestone case?

c. Think back to the Ford Pinto case, how is the Firestone incident similar; and how did Firestone confront the issue once it was discovered?

d. If you worked for Firestone what defenses would you claim?