Jacob Riis, How the Other Half Lives (1890)
In this document, Riis mentions: “If this is true from a purely economic point of view, what then of the outlook front the Christian standpoint.” What should our response as Christians be? What does God all us to do in this situation?
In: Psychology
A new online test preparation company compared 3,025 students who had not used its program with 2,150 students who had. Of those students who did not use the online test preparation program, 1,513 increased their scores on the SAT examination compared with 1,100 who did use the program. A significance test was conducted to determine whether there is evidence that the online test preparation company's students were more likely to increase their scores on the SAT exam. What is the p-value for an appropriate hypothesis test?
a. 0
b. 0.2082
c. 0.4164
d. 0.7198
e.1
In: Statistics and Probability
After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.:
| Retained Earnings | $3,551,000 |
| Dividends | 41,500 |
| Fees Earned | 1,200,000 |
| Wages Expense | 741,700 |
| Rent Expense | 68,600 |
| Supplies Expense | 14,950 |
| Miscellaneous Expense | 8,750 |
Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.
| CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||
| Nuclear Landscaping Co. | |||||||||||||||||||||||||||||||||||||||||||||
| General Ledger | |||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
1. When a business has a market share of 100% it is known as:
A. A competitive market
B. A monopoly
C. An oligopoly
D. Monopolistic competition
2. What happens in the long run in perfect competition?
A. Abnormal profits are earned
B. Businesses are allocatively inefficient
C. A firm produces where average revenue is greater than average cost
D. A firm produces where marginal revenue equals marginal cost
3. From the following, when do losses always occur?
A. Marginal revenue equals the price
B. Average revenue is less than average cost
C. Average revenue equals average cost
D. Marginal cost equals average cost
4. In a monopoly market...
A. there are no barriers to entry
B. abnormal profits are only earned in the short run
C. the demand curve for a business is downward sloping
D. a profit maximising business produces where average revenue equals marginal revenue
In: Economics
Compare the financial performance of the two organizations and provide suggestions (based on the comparison) for the Walden Conservatory of Music, both from a financial and operational perspective. In Memo Format.
New England Conservatory of Music (NEC) Based on 2017 Form 990
Liquid Funds Indicator = 4.25 months
Debt to Asset Ratio= 18.9%
Debt to NA ratio = 123.9%
Program Service Ratio = 85.9%
Savings Indicator = 22.5%
Current Ratio = 3.45
Defensive Interval = 3.24
Liquid Funds Amount = ($111,359,654)
Return on Investment = 4.94%
Times Interest Earned Ratio = 22.2
Walden Conservatory of Music Based on 2017 Form 990
Liquid Funds Indicator: 1.52 months
Debt to Asset Ratio: 18.3%
Debt to NA Ratio: 22
Program Service Ratio: 75.9%
Savings Indicator: 4.12%
Current Ratio: 2.34
Defensive Interval: 2.43
Liquid Funds Amount: ($580,418)
Return on Investment: 6.9%
Times Interest Earned Ratio: 6.36
In: Accounting
Smallville Bank has the following balance sheet, rates earned on
its assets, and rates paid on its liabilities.
| Balance Sheet (in thousands) | |||||||
| Assets | Rate Earned (%) | ||||||
| Cash and due from banks | $ | 6,100 | 0 | ||||
| Investment securities | 23,000 | 9 | |||||
| Repurchase agreements | 13,000 | 7 | |||||
| Loans less allowance for losses | 81,000 | 11 | |||||
| Fixed assets | 11,000 | 0 | |||||
| Other earning assets | 3,900 | 10 | |||||
| Total assets | $ | 138,000 | |||||
| Liabilities and Equity | Rate Paid (%) | ||||||
| Demand deposits | $ | 10,000 | 0 | ||||
| NOW accounts | 70,000 | 6 | |||||
| Retail CDs | 19,000 | 8 | |||||
| Subordinated debentures | 15,000 | 9 | |||||
| Total liabilities | 114,000 | ||||||
| Common stock | 11,000 | ||||||
| Paid-in capital surplus | 3,100 | ||||||
| Retained earnings | 9,900 | ||||||
| Total liabilities and equity | $ | 138,000 | |||||
If the bank earns $121,000 in noninterest income, incurs $81,000 in
noninterest expenses, and pays $2,510,000 in taxes, what is its net
income? (Enter your answer in dollars, not thousands of
dollars.)
In: Finance
Smallville Bank has the following balance sheet, rates earned on
its assets, and rates paid on its liabilities.
| Balance Sheet (in thousands) | |||||||
| Assets | Rate Earned (%) | ||||||
| Cash and due from banks | $ | 6,500 | 0 | ||||
| Investment securities | 27,000 | 8 | |||||
| Repurchase agreements | 17,000 | 6 | |||||
| Loans less allowance for losses | 85,000 | 10 | |||||
| Fixed assets | 15,000 | 0 | |||||
| Other earning assets | 5,000 | 9 | |||||
| Total assets | $ | 155,500 | |||||
| Liabilities and Equity | Rate Paid (%) | ||||||
| Demand deposits | $ | 14,000 | 0 | ||||
| NOW accounts | 74,000 | 5 | |||||
| Retail CDs | 23,000 | 7 | |||||
| Subordinated debentures | 19,000 | 8 | |||||
| Total liabilities | 130,000 | ||||||
| Common stock | 15,000 | ||||||
| Paid-in capital surplus | 3,500 | ||||||
| Retained earnings | 7,000 | ||||||
| Total liabilities and equity | $ | 155,500 | |||||
If the bank earns $125,000 in noninterest income, incurs $85,000 in
noninterest expenses, and pays $2,550,000 in taxes, what is its net
income? (Enter your answer in dollars, not thousands of
dollars.)
In: Finance
Smallville Bank has the following balance sheet, rates earned on
its assets, and rates paid on its liabilities.
| Balance Sheet (in thousands) | |||||||
| Assets | Rate Earned (%) | ||||||
| Cash and due from banks | $ | 6,000 | 0 | ||||
| Investment securities | 22,000 | 8 | |||||
| Repurchase agreements | 12,000 | 6 | |||||
| Loans less allowance for losses | 80,000 | 10 | |||||
| Fixed assets | 10,000 | 0 | |||||
| Other earning assets | 4,000 | 9 | |||||
| Total assets | $ | 134,000 | |||||
| Liabilities and Equity | Rate Paid (%) | ||||||
| Demand deposits | $ | 9,000 | 0 | ||||
| NOW accounts | 69,000 | 5 | |||||
| Retail CDs | 18,000 | 7 | |||||
| Subordinated debentures | 14,000 | 8 | |||||
| Total liabilities | 110,000 | ||||||
| Common stock | 10,000 | ||||||
| Paid-in capital surplus | 3,000 | ||||||
| Retained earnings | 11,000 | ||||||
| Total liabilities and equity | $ | 134,000 | |||||
If the bank earns $120,000 in noninterest income, incurs $80,000 in
noninterest expenses, and pays $2,500,000 in taxes, what is its net
income? (Enter your answer in dollars, not thousands of
dollars.
In: Finance
a) The head of the statistics department in a certain university believes that 70% of the department’s graduate assistantships are given to international students. A random sample of 50 graduate assistants is taken.
What is the probability that the sample proportion pˆ will be within ±0.05 of the population proportion p?
b) Recently the price of the fuel dropped to almost half of the price in previous years, a business consultant company claimed that the average car owner refilled the fuel tank when the fuel indicator showed less than 1⁄4 (0.25) of petrol left in the tank. To check the claim, 10 cars were surveyed as they entered a service station. The amount of petrol (percentage left in the tank) was measured and recorded as shown below:
0.25 0.20 0.15 0.05 0.50 0.25 0.15 0.40 0.25 0.10 Assume that the percentage of petrol remaining in the tanks is normally distributed, and the above sample standard deviation is 0.136.
Can we conclude at the 5% level of significance that the business consultant company was correct?
In: Statistics and Probability
Question No.4: {10marks}
In: Economics