ANOVA

Perform/Document 7-step hypothesis testing process for the following question:

Is there significant evidence to suggest that the type of customer has an effect on the average daily amount of money spent? What’s the effect or nature of a relationship?

1. Null:There is no statistically significant relationship between the type of customer and the daily average amount spent.

Alternative: There is a statistically significant relationship between the type of customer and the daily average amount spent.

2. Let α=.01

3. ?

4. ?

5. ?

6. ?

7. ?

8. Will give thumbs up for quality timely answer. Need help comparing to my answers because I am unsure and want to make sure they are right. Thanks

(b) Consider an economy where the consumption function is given by ? = 500 + 0.8(? − ?). Investment is given by 2000 − 100? (where ? is the real interest rate), government spending is 5000, taxes are equal to 4000. Exports are 1000, while imports are given by ?? = 0.2?.

1. (i) Suppose that the real interest rate is ? = 5. Calculate the equilibrium level of real GDP for this economy. Now suppose that the Fed decides to raise the interest rate to ? = 10. Calculate the new equilibrium GDP for this economy.

2. (ii) Continue to assume that ? = 10. If the government decides to raise spending by 1000, what would be the new equilibrium level of GDP? Would you expect this change in GDP to have any impact on the interest rate? Explain why (not).

3. (iii) Someeconomistssaythatconsumptionalsodepends on the real rate of interest. If that were the case, explain in words how that would affect your answer in part (ii).

Gerhan Company's flexible budget for the units manufactured in May shows $15,610 of total factory overhead; this output level represents 70% of available capacity. During May, the company applied overhead to production at the rate of $3.00 per direct labor hour (DLH), based on a denominator volume level of 6,120 DLHs, which represents 90% of available capacity. The company used 6,000 DLHs and incurred $18,500 of total factory overhead cost during May, including $6,700 for fixed factory overhead.

1. What is the variable factory overhead spending variance?  

2. What is the variable factory overhead efficiency variance?

3. What is the fixed factory overhead spending variance?

4. What is the fixed factory overhead production volume variance?

5. What is the flexible budget variance?

Please explain all answers thoroughly.

1. Supply side policies would NOT include:

a. Lowering tax to boost spending

b. Incentives to get people back to work

c. Incentives to get firms to invest

d. Training to give people the skills to accept work

2. What is meant by inflation?

a. A sustained increase in the exchange rate

b. A sustained increase in the general price level

c. A sustained increase in firms' costs

d. A one off increase in prices

3. What could cause cost push inflation?

a. An outward shift in aggregate demand

b. An inward shift in aggregate demand

c. An outward shift in aggregate supply

d. An inward shift of aggregate supply

4. What is an appropriate action to reduce demand-pull inflation?

a. Higher interest rates

b. Lower taxes

c. More government spending

d. Increase in the money supply

1a. Last three quarters’ GDP of a county are 3%, 2%, and -0.5%. This indicates that this country is in recession. (True or False)

b.During recession or economic downturn, government should use ____ (expansionary or contractionary) fiscal policy by _____ (increase or decrease) government spending and ____ (increase or decrease) taxes.

c.It is a good idea to acquire devalued assets during recession. (True or False)

d.When economy is too hot, federal reserve should ____ (buy or sell) Treasury bonds, ____ (increase or decrease) reserve requirement, and _____ (increase or decrease) discount rate in order to _____ (increase or decrease) money supply. As a result, inflation rate will go ____ (up or down).

e.When federal reserve decrease interest rate, cost of borrowing will ____(increase or decrease); return of savings and investment will ____(increase or decrease); therefore, business will _____ (increase or decrease) investment, consumers will _____ (increase or decrease) spending, _____ (increase or decrease) borrowing, and ______ (increase or decrease) savings.

9.21

Jackman Co. used a standard overhead rate equal to $6.25 per direct labor hour. The rate was computed using expected activity. Budgeted overhead costs are $80,000 for 10,000 direct labor hours and $120,000 for 20,000 direct labor hours. During the past year, Jackman generated:

a. Actual Production: 4,000units

b. Fixed Overhead Volume Variance: $1,750 U

c. Variable overhead efficiency variance: $3,200 F

d. Actual Fixed overhead cost: $41,335

e. Actual variable overhead costs: $70,000

Required:

1. Determine the fixed overhead spending variance

2. Determine the variable overhead spending variance

3. determine the standard hours allowed per unit of product

4. Assuming the standard labor rate is $9.50 per hour, compute the direct labor efficiency variance.

1- The following chart is data over an 8 month period that shows how much a company spent in advertising and the sales revenue for that month

E.) What sales revenue would the company expect for the following advertising spending? Round to nearest cent

1. 3000
2. 2100
3. 1300

F.) If you were in charge of the advertising department how much would you spend on each of the next 4 months on advertising and how and why did you arrive at your decision?

Nov

Jan

Feb

March

Please give a short explanation as to how and why you came up with your advertising spending for the above 4 months

Jane’s utility function is U(x, y) = x + 2y, where x is her consumption of good X and y is her consumption of good Y. Her income is $2. The price of Y is $2. The cost per unit of X depends on how many units she buys. The total cost of x units of X is the square root of x.

1. The bundle ( 1 4, 3 4 ) is Jane’ s utility maximizing choice, given her budget.

2. The bundle (1, 1 2 ) is Jane’ s utility maximizing choice, given her budget.

3. Given her budget, Jane would maximize her utility by spending all of her income on

   good X.

4. Given her budget, Jane would maximize her utility by spending all of her income on

   good Y.

5. None of the above.

Creating measurable, attainable, positive and specific (MAPS) goals.After reading each of the following general goals, write a question a practitioner could use as a step toward developing a possible MAPS goal and then write a Possible MAPS goal.

1. As I understand it, your goal is to increase your self-confidence.

2.You want to learn to appropriately discipline your children.

3.You will attend six family therapy meetings.

4.You want to stop drinking.

5.You would like your family to do something together that is fun instead of working all the time.

6.You want the people in this group to stop spending so much time talking about what is going on outside of the group.

7.This task group wants to stop spending so much time complaining.