Global Freightways is considering the purchase of a new airplane to fly between Tokyo (NRT) and Singapore (SIN), a distance of 2,869 nautical miles. Global Freightways is evaluating two models of aircraft: the Boeing 747-400, which can safely carry 124 tons of freight and the slightly smaller Boeing 777, with an effective capacity of 104 tons. Costs associated with each:

Global Freightways can earn $2 revenue per ton/mile on this route, and expects to fly this plane loaded in both directions between SIN and NRT.

a. What does a break-even analysis indicate about the two choices of aircraft? It is tempting to say the Boeing 777 ‘has a lower break-even point’, but that is a dangerous statement considering that the Boeing 777 is a smaller aircraft.
b. Assuming Global loads each aircraft to its effective capacity, compute the adjusted break-even points to reflect that

* Remember that the 747-400 can safely carry 124 tons of freight and the slightly smaller Boeing 777 has an effective capacity of 104 tons.

A paper investigated the driving behavior of teenagers by observing their vehicles as they left a high school parking lot and then again at a site approximately

mile from the school. Assume that it is reasonable to regard the teen drivers in this study as representative of the population of teen drivers.

(a) Use a .01 level of significance for any hypothesis tests. Data consistent with summary quantities appearing in the paper are given in the table. The measurements represent the difference between the observed vehicle speed and the posted speed limit (in miles per hour) for a sample of male teenage drivers and a sample of female teenage drivers. (Use μ_males − μ_females. Round your test statistic to two decimal places. Round your degrees of freedom down to the nearest whole number. Round your p-value to three decimal places.)

(b) Do these data provide convincing support for the claim that, on average, male teenage drivers exceed the speed limit by more than do female teenage drivers?

YesNo    

A paper investigated the driving behavior of teenagers by observing their vehicles as they left a high school parking lot and then again at a site approximately

mile from the school. Assume that it is reasonable to regard the teen drivers in this study as representative of the population of teen drivers.

(a) Use a .01 level of significance for any hypothesis tests. Data consistent with summary quantities appearing in the paper are given in the table. The measurements represent the difference between the observed vehicle speed and the posted speed limit (in miles per hour) for a sample of male teenage drivers and a sample of female teenage drivers. (Use μ_males − μ_females. Round your test statistic to two decimal places. Round your degrees of freedom down to the nearest whole number. Round your p-value to three decimal places.)

(b) Do these data provide convincing support for the claim that, on average, male teenage drivers exceed the speed limit by more than do female teenage drivers?

YesNo    

12.

In a sample of Starbucks customers it was found that the number of individual items bought per month at Starbucks was 15 with a standard deviation of 17. Assume the data to be approximately bell-shaped. Approximately 95% of the time, the number of monthly items purchased was between two values A and B. What is the value of B? Write only a number as your answer.

13.

A study studied the birth weights of 1,729 babies born in the United States. The mean weight was 3234 grams with a standard deviation of 871 grams. Assume that birth weight data are approximately bell-shaped. Estimate the number of newborns who weighed between 1492 grams and 4976 grams. Write only a number as your answer. Round your answer to the nearest whole number.

14.

For a certain type of truck, the mean number of miles per gallon is 23.5 and the standard deviation is 4.3 . Assume gas mileage for this type of truck to be approximately bell-shaped. Compute the z-score for a truck whose gas mileage is 14 .

Write only a number as your answer. Round your answer to two decimal places (for example: 3.15).

15.

A population has mean 26 and standard deviation 8 . What is the data value that has a z-score of 1 ? Write only a number as your answer.

East Coast Railroad Company transports commodities among three routes (city-pairs): Atlanta/Baltimore, Baltimore/Pittsburgh, and Pittsburgh/Atlanta. Significant costs, their cost behavior, and activity rates for April are as follows:

Operating statistics from the management information system reveal the following for April:

Instructions

1. Prepare a contribution margin by route report for East Coast Railroad Company for the month of April. Compute the contribution margin ratio in whole percents, rounded to one decimal place.

2. Discuss the route performance of the railroad using the above report.

Note: add citations when necessary.

A paper investigated the driving behavior of teenagers by observing their vehicles as they left a high school parking lot and then again at a site approximately

mile from the school. Assume that it is reasonable to regard the teen drivers in this study as representative of the population of teen drivers.

(a) Use a .01 level of significance for any hypothesis tests. Data consistent with summary quantities appearing in the paper are given in the table. The measurements represent the difference between the observed vehicle speed and the posted speed limit (in miles per hour) for a sample of male teenage drivers and a sample of female teenage drivers. (Use μ_males − μ_females. Round your test statistic to two decimal places. Round your degrees of freedom down to the nearest whole number. Round your p-value to three decimal places.)

(b) Do these data provide convincing support for the claim that, on average, male teenage drivers exceed the speed limit by more than do female teenage drivers?

Yes

No    

1. A study was created to test which brand of tire lasts longest when driving on rough surfaces. After 5000 miles in a lab machine, the tread was measured. What type of study would this be?

2. You want to determine which degree leads to a higher starting salary, creative writing or art history. You track students with these majors for the next 5 years. What type of study would this be?

3. Which is an example of a simple random sample?

4. _________ are used to infer about __________

5. Choose all that apply. Population parameters

6. We defined our population as this class, and then collected heights of all the people in this class, and took an average. This would be an example of a

Medical Expenses (LO 5.6)

In 2018, Margaret and John Murphy (age 66 and 68, respectively) are married taxpayers who file a joint tax return with AGl of $25,400. During the year they incurred the following expenses:

Medical insurance premiums $1,150
Premiums on an insurance policy that pays $100 per day for each day Margaret is hospitalized 400
Medical care lodging (two people, one night) 65
Hospital bills 2,100
Doctor bills 850
Dentist bills 175
Prescription drugs and medicines 340
Psychiatric care 350

In addition, they drove 83 miles for medical transportation, and their insurance company reimbursed them $900 for the above expenses. On the following segment of Schedule A of Form 1040, calculate the Murphy's medical expense deduction.

If required, round any amount to the nearest dollar. Enter all amounts as positive numbers.

Caution. Do not include expenses reimbursed or paid by others. Medical and Dental Expenses 1 Medical and dental expenses (see instructions) . . . . . . . . . . . . . . 1

2 Enter amount from Form 1040, line 7. . . . . 2

3 Multiply line 2 by 7.5% (.075) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . 4