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Question 45 (1 point)

All of the following are related to active life expectancy for minorities except:

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Question 46 (1 point)

One of the recommendations to preserve Social Security is to raise the normal retirement age. A consequence of raising it is that:

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Question 47 (1 point)

A women's risk of poverty ________ if she gets a divorce.

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Question 48 (1 point)

In comparison with the types of diseases that caused deaths among older people in the United States in the nineteenth century, one of the major causes of death among people 65 years and older today is _____.

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Question 49 (1 point)

Functional age may be measured by:

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High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:

Management is anxious to assess the profitability of the new camp cot during the month of May.

Required:

1. Assume that the company uses absorption costing.

a. Determine the unit product cost.

b. Prepare an income statement for May.

2. Assume that the company uses variable costing.

a. Determine the unit product cost.

b. Prepare a contribution format income statement for May.

req1a

Determine the unit product cost. Assume that the company uses absorption costing.

req 1b

Prepare an income statement for May. Assume that the company uses absorption costing.

req 2a

Determine the unit product cost. Assume that the company uses variable costing.

req 2b

Prepare a contribution format income statement for May. Assume that the company uses variable costing.

High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:

Management is anxious to assess the profitability of the new camp cot during the month of May.

Required:

1. Assume that the company uses absorption costing.

a. Determine the unit product cost.

b. Prepare an income statement for May.

2. Assume that the company uses variable costing.

a. Determine the unit product cost.

b. Prepare a contribution format income statement for May.

Determine the unit product cost. Assume that the company uses absorption costing.

Prepare an income statement for May. Assume that the company uses absorption costing.

Determine the unit product cost. Assume that the company uses variable costing.

Prepare a contribution format income statement for May. Assume that the company uses variable costing.

Please give a brief justification for the correct answer you select:

1. Which of the following is NOT included in 2004’s GDP?

1. The value of a car produced in the United States and exported to England.
2. The profit earned in 2004 from selling a stock that you purchased in 2001.
3. The value of a computer chip that is used in the production of a personal computer.
4. The commission earned by an employment counsellor when she locates a job for a client.

2. Gross National Product is the total market value of

1. All final and intermediate goods and services produced by resources owned by a country in a given year.
2. All final and intermediate goods and services produced in a country in a given year, regardless of who owns the resources.
3. All final goods and services produced in a country in a given year, regardless of who owns the resources.
4. All final goods and services produced by resources owned by a country, regardless of where production takes place.

3. Which of the following is included in both the U.S. GDP and GNP?

1. The value of all cars produced by Ford in Mexico.
2. The value of all cars produced by General Motors in the US.
3. The value of all cars produced by Toyota in the US.
4. The value of cars produced by Nissan in Japan and the US.

4. The value of what Pizza Hut produces in Italy is included in the U.S. ____________ and in the Italian ____________.

1. GDP;GDP
2. GNP;GNP
3. GNP;GDP
4. GDP;GNP

5. The GDP of the U.S. in 2002 was around $10 trillion. This means

1. That the value of output in 2002 was around $10 trillion.
2. That total income in 2002 was around $10 trillion.
3. That total spending in 2002 was around $10 trillion.
4. All of the above

6. In 2004 the change in business inventories is $50 billion and GDP is $160 billion. Final sales in 2004

1. Are $110 billion.
2. Are $200 billion.
3. Are 210 billion.
4. Cannot be determined from this information.

Question text

In the early 1990's, the Oregon Department of Education was looking into the success of their school lunch programs. Critics of the current way funds were being diverted to school food services believed that the low quality of the food being served in the low-income school districts was leading to malnutrition among the students.

The state had already collected growth data for decades throughout Oregon, so they went through their records to look for signs of malnutrition. One metric they used was heights of children in the various school districts. If children did not have proper nutrition from healthy food, they would not grow to their full potential.

The CDC/National Center for Health Statistics put the average height for 12 year old girls in the United States at 59.4 inches, with standard deviation 2.3 inches.

1. Assume that heights are normally distributed. If we randomly selected a 12-year-old female student in a local school, what is the probability that she is no more than 55.4 inches tall?  

The Klamath county school district reported that their female 12-year-old students had a mean height of 58.2 inches out of a sample of 27 students. This a little more than an inch below the population mean for all 12 year old girl's heights.

2. Let's define an unusual event to be one where the probability of it occurring is less than 0.05 (or, equivalently, less than 1 in 20). If we wanted to find out if the school district's mean height was unusually low, what probability should we find?

(Hint: if 58 inches tall is unusually low, then so is 57 inches, and 56 inches.... )

Systolic blood pressure is the amount of pressure that blood exerts on blood vessels while the heart is beating. The mean systolic blood pressure for people in the United States is reported to be 122 millimeters of mercury (mmHg) with a standard deviation of 15 mmHg.

The wellness department of a large corporation is investigating whether the mean systolic blood pressure of its employees is greater than the reported national mean. A random sample of 50 employees will be selected, the systolic blood pressure of each employee in the sample will be measured, and the sample mean will be calculated. Let μ represent the mean systolic blood pressure of all employees at the corporation. Consider the following hypotheses.

H₀: μ=122

H_a: μ>122

a) Assume that σ , the standard deviation of the systolic blood pressure of all employees at the corporation, is 15 mmHg and μ = 122 . Describe the shape, center, and spread of the sampling distribution of x for samples of size 50.

b) Based on the sampling distribution constructed in part a), what interval of values of x would represent sufficient evidence to reject the null hypothesis at the significance level α = .01 ?

c) It was determined that the actual mean systolic blood pressure is 125 mmHg, not the hypothesized value of 122 mmHg, and the standard deviation is 15 mmHg. Using the actual mean of 125 mmHg and the results from part b), determine the probability that the null hypothesis will be rejected?

d) What statistical term is used for the probability calculated in part c)? Explain.

e) Suppose the size of the sample of employees is greater than 50. Would the probability of rejecting the null hypothesis increase, decrease, or remain the same? Explain your reasoning.

Thalidomide is a tranquilizer that was prescribed in the late 1950’s and early 1960’s to pregnant women, with the devastating result of over 12,000 birth defects in 48 countries before it was banned in 1962. (It was never sold in the United States.) Since then, the drug has reappeared as a possible solution to a number of medical problems. The U.S. National Institutes of Health announced on 31 October 1995 the results of a study in 30 hospitals of the effectiveness of thalidomide in healing mouth ulcers in AIDS patients. In the study, which was chaired by Dr. Jeffrey Jacobson of the Bronx Veteran Affairs Medical Center and the Mount Sinai School of Medicine in New York, it was found that 14 out of 23 patients who received thalidomide had their ulcers heal compared to 1 out of 22 patients who received a placebo. As a result of these early trial outcomes, the researchers suspended the trial giving thalidomide to all the patients in the study. THIS IS ALL THE INFO GIVEN.

1. Find a 90% confidence interval for the difference in proportion of healing assuming that both samples are simple random samples and independent of each other.
2. Conduct the appropriate large-sample test of significance. Discuss your results and compare your conclusion with the decision of the researchers.
3. By hand, draw a bar graph depicting the sample proportions of healing. Add a whisker to the top of each bar to denote the standard error of the sample proportion.  DO NOT SUBMIT.
4. Examine the bar graph you produced for part (a). Briefly comment on whether there appears to be a difference in proportions.
5. Conduct the appropriate hypothesis test for a two-by-two contingency table and report the P-values for Fisher’s exact test and the asymptotic chi-square distribution approximation for this test. Compare these results with your answer to part (b) in Exercise 1.

Purpose of Assignment

Students examine the long-run determinants of both the level and the growth rate of real GDP per person and the factors that determine the productivity of workers and what governments might do to improve the productivity of their citizens. Students will learn how saving and investment are coordinated by the loanable funds market and will see the effects of taxes and government deficits on saving, investment, the accumulation of capital, and ultimately, the growth rate of output. Students will be introduced to tools that people use when they participate in financial markets. Students will see how people compare different sums of money at different points in time, how they manage risk, and how these concepts combine to help determine the value of a financial asset, such as a share of stock. Students will be introduced to the labor market and how economists measure the performance of the labor market using unemployment statistics. Students will address a number of sources of unemployment and some policies that the government might use to lower certain types of unemployment.

Assignment Steps

Resources: National Bureau of Economic Research

Scenario: The organization's strategic plan calls for an aggressive growth plan, requiring investment in facilities and equipment, growth in productivity, and labor over the next five years. It is your team's task to determine where, outside the United States, your organization should locate its new manufacturing plant.

Write a 1,050-word report recommending an off-shore country and support your choice with the following data:

The factors determining the country's productivity

How the country's policies influence its productivity growth

How the country's financial system is related to key macroeconomic variables

How your organization can reduce the risk they would face in relocating

The current and projected unemployment over the next five years