In a study of high-achieving high school graduates, the authors of a report surveyed 837 high school graduates who were considered "academic superstars" and 436 graduates who were considered "solid performers." One question on the survey asked the distance from their home to the college they attended.

Assuming it is reasonable to regard these two samples as random samples of academic superstars and solid performers nationwide, use the accompanying data to determine if it is reasonable to conclude that the distribution of responses over the distance from home categories is not the same for academic superstars and solid performers. Use

α = 0.05.

State the null and alternative hypotheses.

a). H₀: The proportions falling into the distance categories are not all the same for the two student groups.
H_a: The proportions falling into the distance categories are the same for the two student groups.

b). H₀: Student group and distance of college from home are not independent.
H_a: Student group and distance of college from home are independent.  

c). H₀: The proportions falling into the distance categories are the same for the two student groups.
H_a: The proportions falling into the distance categories are not all the same for the two student groups.

d). H₀: Student group and distance of college from home are independent.
H_a: Student group and distance of college from home are not independent.

Calculate the test statistic. (Round your answer to two decimal places.)
χ² =  

What is the P-value for the test? (Round your answer to four decimal places.)
P-value =  

What can you conclude?

Do not reject H₀. There is not enough evidence to conclude that there is an association between student group and distance of college from home.

Reject H₀. There is convincing evidence to conclude that the proportions falling into the distance categories are not all the same for the two student groups.   

Do not reject H₀. There is not enough evidence to conclude that the proportions falling into the distance categories are not all the same for the two student groups.

Reject H₀. There is convincing evidence to conclude that there is an association between student group and distance of college from home.

Do a two-sample test for equality of means assuming unequal variances. Calculate the p-value using Excel.

(a-1) Comparison of GPA for randomly chosen college juniors and seniors:

x⎯⎯1x¯1 = 4.05, s₁ = .20, n₁ = 15, x⎯⎯2x¯2 = 4.35, s₂ = .30, n₂ = 15, α = .025, left-tailed test.
(Negative values should be indicated by a minus sign. Round down your d.f. answer to the nearest whole number and other answers to 4 decimal places. Do not use "quick" rules for degrees of freedom.)

(a-2) Based on the above data choose the correct decision.
  

• Do not reject the null hypothesis

• Reject the null hypothesis

(b-1) Comparison of average commute miles for randomly chosen students at two community colleges:

x⎯⎯1x¯1 = 19, s₁ = 5, n₁ = 22, x⎯⎯2x¯2 = 25, s₂ = 7, n₂ = 19, α = .05, two-tailed test.
(Negative values should be indicated by a minus sign. Round down your d.f. answer to the nearest whole number and other answers to 4 decimal places. Do not use "quick" rules for degrees of freedom.)
  

(b-2) Based on the above data choose the correct decision.
  

• Reject the null hypothesis

• Do not reject the null hypothesis

(c-1) Comparison of credits at time of graduation for randomly chosen accounting and economics students:

x⎯⎯1x¯1 = 144, s₁ = 2.8, n₁ = 12, x⎯⎯2x¯2 = 143, s₂ = 2.7, n₂ = 17, α = .05, right-tailed test.
(Negative values should be indicated by a minus sign. Round down your d.f. answer to the nearest whole number and other answers to 4 decimal places. Do not use "quick" rules for degrees of freedom.)

(c-2) Based on the above data choose the correct decision.
  

• Do not reject the null hypothesis

• Reject the null hypothesis

NORMAL DISTRIBUTION

1A.

A company has a policy of retiring company cars; this policy looks at number of miles driven, purpose of trips, style of car and other features. The distribution of the number of months in service for the fleet of cars is bell-shaped and has a mean of 58 months and a standard deviation of 4 months. Using the 68-95-99.7 rule, what is the approximate percentage of cars that remain in service between 66 and 70 months?

Do not enter the percent symbol.
ans =  %

1B.

The Acme Company manufactures widgets. The distribution of widget weights is bell-shaped. The widget weights have a mean of 45 ounces and a standard deviation of 10 ounces.

Use the Standard Deviation Rule, also known as the Empirical Rule.

Suggestion: sketch the distribution in order to answer these questions.

a) 95% of the widget weights lie between  and

b) What percentage of the widget weights lie between 15 and 65 ounces?  %

c) What percentage of the widget weights lie above 35 ?  %

1C.

If the distribution of weight of newborn babies in Maryland is normally distributed with a mean of 3.56 kilograms and a standard deviation of 0.68 kilograms, find the weights that correspond to the following z-scores. Round your answers to the nearest tenth, if necessary.

(a) z = -1.2

kilograms

(b) z = 0.94

kilograms

1D.

A doctor measured serum HDL levels in her patients, and found that they were normally distributed with a mean of 64.7 and a standard deviation of 3.6. Find the serum HDL levels that correspond to the following z-scores. Round your answers to the nearest tenth, if necessary.

(a) z = -1.25



(b) z = 1.54

1E.

The average resting heart rate of a population is 88 beats per minute, with a standard deviation of 13 bpm. Find the z-scores that correspond to each of the following heart rates. Round your answers to the nearest hundredth, if necessary.

(a) 116 bpm

z =

(b) 73 bpm

z =

1F.

The widths of platinum samples manufactured at a factory are normally distributed, with a mean of 1.2 cm and a standard deviation of 0.5 cm. Find the z-scores that correspond to each of the following widths. Round your answers to the nearest hundredth, if necessary.

(a) 2 cm

z =

(b) 1 cm

z =

Wind and solar energy are “clean” ways to generate electricity, although we tend to forget about pollution created in the production and disposal of equipment and we may overestimate their value due to grid - related requirements . Discuss both factors and how we might structure policies that would lead to efficient investment decisions.. (An answer would discuss the intermittency of these power sources and the need for (ii) more expensive transmission systems ; (iii)) need for more back - up , either batteries or traditional power plant ; (iiii)) pollution that is related to production and disposal of batteries and solar cells production . These costs could be offset by demand - side policies and by electricity prices that reflect full social costs..))

5.. Carbon dioxide emissions per KWH for coal - generated power is about 2.5 lbs , for gas about 1.0 lb.. and for solar and wind,, 0.. The carbon dioxide emissions from a gallon of gasoline is 20 lbs.. Suppose an electric car goes 45 miles for 10 KWH.. When will this car be cleaner – in terms of greenhouse gas emissions – than a standard gasoline - burning car,, and when won ’ t it?? (AAn answer would include:: ( i)) comparison of emissions,, which depends on the fuel efficiency of the gasoline car – if it goes 45 mpg,, then the car would emit 20 lbs,, which compares well to electricity generated by wind,, solar,, and gas,, and not as good as electricity from coal.. If the gasoline car gets 20 m gp,, the calculation changes,, and if it gets 90 mpg the comparison changes again.. The second part of the answer would then discuss the electricity system,, whether you charge the car during times of day that renewable power is available , and policies to encourage people to tailor demand to supply .))

Suppose the energy gap is real. (Energy saving technology exists where the real savings in energy costs exceeds the increase in purchase price over the inefficient alternative, yet people don’t buy it.) Give 3 reasons why the gap is consistent with economic reasoning (behavioral economics arguments accepted). Explain why the gap might appear to exist but actually be illusory (that is, real benefits do not exceed the additional cost to the purchaser).

Do a two-sample test for equality of means assuming unequal variances. Calculate the p-value using Excel.

(a-1) Comparison of GPA for randomly chosen college juniors and seniors:

x¯1x¯1 = 4, s₁ = .20, n₁ = 15, x¯2x¯2 = 4.25, s₂ = .30, n₂ = 15, α = .025, left-tailed test.
(Negative values should be indicated by a minus sign. Round down your d.f. answer to the nearest whole number and other answers to 4 decimal places. Do not use "quick" rules for degrees of freedom.)

(a-2) Based on the above data choose the correct decision.
  

• Do not reject the null hypothesis

• Reject the null hypothesis

(b-1) Comparison of average commute miles for randomly chosen students at two community colleges:

x¯1x¯1 = 17, s₁ = 5, n₁ = 22, x¯2x¯2 = 21, s₂ = 7, n₂ = 19, α = .05, two-tailed test.
(Negative values should be indicated by a minus sign. Round down your d.f. answer to the nearest whole number and other answers to 4 decimal places. Do not use "quick" rules for degrees of freedom.)
  

(b-2) Based on the above data choose the correct decision.
  

• Do not reject the null hypothesis

• Reject the null hypothesis

(c-1) Comparison of credits at time of graduation for randomly chosen accounting and economics students:

x¯1x¯1 = 141, s₁ = 2.8, n₁ = 12, x¯2x¯2 = 138, s₂ = 2.7, n₂ = 17, α = .05, right-tailed test.
(Negative values should be indicated by a minus sign. Round down your d.f. answer to the nearest whole number and other answers to 4 decimal places. Do not use "quick" rules for degrees of freedom.)

(c-2) Based on the above data choose the correct decision.
  

• Do not reject the null hypothesis

• Reject the null hypothesis

Question 24

What is the fate of lactate following exercise cessation?

Question 30

Which of the following will decrease the most—as a percentage of its resting concentration--during an all-out 100-meter dash (lasting about 10 seconds)?

Question 31

What would the effects of a month long high-protein, high-fat diet, low carbohydrate diet be on athletic performance during a marathon? Assume that the person will run the majority of the marathon at >80% VO2peak and will likely run the last few miles at 90% VO2peak:

Question 32

A person accidentally ingests a substance that renders the mitochondrial electron transport chain non-functional. The following is true:

Question 33

You are training a 400-meter running athlete who states she is taking a supplement to increase the bioavailability and activity of phosphoglucoisomerase (a glycolysis pathway enzyme) to boost her race performance. What is the effect you expect?

Hypothesis Testing - Conclusions: Choose the appropriate concluding statement for the following hypothesis tests.

(a) You claim that the mean volume in all 12-ounce cans of Fizzy Pop soda is equal to 12 ounces. After analyzing the sample data and performing a hypothesis test, you reject the null hypothesis.

The data supports the claim that the mean volume in all 12-ounce cans of Fizzy Pop is equal to 12 ounces.

There is not enough data to support the claim that the mean volume in all 12-ounce cans of Fizzy Pop is equal to 12 ounces.    

There is enough data to justify rejection of the claim that the mean volume in all 12-ounce cans of Fizzy Pop is equal to 12 ounces.

There is not enough data to justify rejection of the claim that the mean volume in all 12-ounce cans of Fizzy Pop is equal to 12 ounces.

(b) You claim that the average speed of all cars traveling down a certain stretch of highway is greater than 73 miles per hour (mph). After analyzing the sample data and performing a hypothesis test, you fail to reject the null hypothesis.

The data supports the claim that the average speed is greater than 73 mph.

There is not enough data to support the claim that the average speed is greater than 73 mph.    

There is enough data to justify rejection of the claim that the average speed is greater than 73 mph.

There is not enough data to justify rejection of the claim that the average speed is greater than 73 mph.

(c) You claim that the proportion of all cars traveling below the speed limit is less than 25%. After analyzing the sample data and performing a hypothesis test, you reject the null hypothesis.

The data supports the claim that the proportion of all cars traveling below the speed limit is less than 25%.

There is not enough data to support the claim that the proportion of all cars traveling below the speed limit is less than 25%.    

There is enough data to justify rejection of the claim that the proportion of all cars traveling below the speed limit is less than 25%.

There is not enough data to justify rejection of the claim that the proportion of all cars traveling below the speed limit is less than 25%.

Given the importance of food to many cultures and people, we oftentimes fail to see how various cultures can overtly or covertly divulge information about the importance of certain values just by the manner in which items are arranged in a grocery store. For this activity, each student will identify a large grocery store within 5 miles of his/her residence. Please try to identify a large grocery store chain and is a “dominant culture” store (i.e., a Latin specialty version of a large chain would not be appropriate). Each student should plan to spend at least 60 – 120 minutes at the grocery store taking careful observations of the types of people who frequent the store, the types and availability of the products available for purchase, and the ease of finding both dominant culture (American/White culture) and cultural grocery items. After the observation period, the student should write a brief report that answers the following questions: 1. What type of food or products were most plentiful in the store? What types of food or products were difficult to find? 2. What claims were used to promote food items? Did these items emphasize taste, nutritional value, cost or ease of preparation? 3. What were typically the most expensive items in the store? When a wide range of prices exists for the same type of product, what distinguished the lower from the higher priced versions? 4. What type of behavior did you observe on the part of the shoppers? Under what circumstances did shoppers interact with one another? 5. How were meats and poultry labeled and displayed? What efforts were made to distance these products from their original animal forms? 6. What did you observe about the sizes in which different types of products were available? What did these sizes imply about the social settings in which these products will be used? 7. How were foods from various racial/ethnic groups distributed throughout the store? Were some racial/ethnic foods presented as normative whereas others were presented as unusual or exotic? 8. What other observations did you make that informed you about cultural values? What cultural values were evident in the supermarket setting?

Tom Lamb and his long-term personal friend, Kari Legga, have established a flourishing business selling lamb products at retail to several thousand customers from nearby Big City, Michigan. The customers gladly drive the short five miles to the lamb store, because the exquisite taste of the grain-fed lambs, whose fleece at one time was as white as snow, is beyond comparison. The lamb store, called Legga Lamb to Go sells the product for $8.00 per pound and purchases them at $3.00 per pound. Average weight per order is 5 pounds. Variable selling costs are 20 percent of sales per pound and fixed costs are $180,000 annually.
In the five years that the lamb store has been in existence, their best year ever was selling 100,000 pounds in 2009; the worst year was 2007 when they sold 59,000 pounds.
Required:
a. Determine the gross profit per pound. ___________
b. The break-even sales in dollars are $ _______________________. .
c. Legga Lamp has a target profit of $122,000. Therefore, the sales needed to achieve this target profit are $ _______ or ________ pounds of product.
d. Kari and Tom are disagreeingon an important business concept. She would like to increase target profit to $150,000 annually. Tom is reluctant to go along with this because he does not feel that the break-even point should be moved that far to the right on the volume-cost-profit graph. Karie snaps back that he is confused with too much college education and graph analysis. They look at you, their financial advisor, for the resolution to this issue. Don't let them down.
Base your advice on sound computations and narrative, including a solid conclusion
e. Review your answer in part c. A new supplier has offered to be the exclusive supplier of lamb to Legga Lamb to Go for a 1 year period of time, under contract. Marilee’s Lambs, Incorporated, an Arkansas company, would sell their lamb products to them for $2.75 per pound, quick-frozen and delivered, with the understanding that Legga Lamb would have to order a minimum of 70,000 pounds at regular intervals throughout the year, as needed. Comment on what Legga Lamb should do. Base your comments on calculations and come to a conclusion.

Please show and break down the calculations.

Use the Dynamic Exhibit to answer the following questions.

1. Fill in depreciation expense in year 3 under each depreciation method when residual value is $30,000 and useful life is 3 years:

2. Fill in the book value at the end of year 1 under each depreciation method when residual value is $36,000 and useful life is 4 years:

3. Move the Useful Life slider from 3 years to 4 years and complete the sentence.

Depreciation expense each year under every method is Higher or Lower when the cost is spread over a longer useful life.

-----------------------------------------------------

Comparing Depreciation Methods

Concept

Over time, fixed assets, with the exception of land, lose their ability to provide services. Thus, the cost of fixed assets such as equipment and buildings should be recorded as an expense over their useful lives. This periodic recording of the cost of fixed assets as an expense is called depreciation. Depreciation can be caused by physical or functional factors. Physical depreciation factors include wear and tear during use or from exposure to weather. Functional depreciation factors include obsolescence and changes in customer needs that cause the asset to no longer provide the services for which it was intended.

The three depreciation methods used most often are:

• Straight-line depreciation
• Units-of-output depreciation
• Double-declining-balance depreciation

The straight-line method provides for the same amount of depreciation expense for each year of the asset’s useful life.

The units-of-output method provides the same amount of depreciation expense for each unit of output of the asset. Depending on the asset, the units of output can be expressed in terms of hours, miles driven, or quantity produced.

The double-declining-balance method provides for a declining periodic expense (twice the straight-line rate) over the expected useful life of the asset.

Learning Expectation

Compare depreciation expense, accumulated depreciation, and book value using the straight-line method, units-of-output method, and double-declining-balance method.

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