Is the SAT Really the Problem? Family breakdown causes serious disadvantages when it comes to college. By William McGurn May 25, 2020 12:32 pm ET When the University of California announced it will stop using the SAT and ACT for admissions, it sent tremors through the world of higher education. If only because of its sheer size—the UC system covers 285,000 students over several campuses—others are bound to follow. Thursday’s decision by the Board of Regents was taken, as are so many decisions in academia these days, in the name of equity and diversity. Requiring SAT scores, the argument goes, discriminates against low-income, black and Latino children who perform poorly on the tests because they lack advantages such as prep courses. To amp up the pressure, a coalition of students and activist groups filed suit in November against the Board of Regents, challenging the SAT requirement on these grounds. Undeniably wealth is a big advantage. But if the idea is to address what’s keeping children from a college degree, instead of papering over the achievement gap, it might be better to address the elephant in the room: family. It’s taboo to raise it, but for all the invocations of “science” and “data-driven decisions,” seldom is any recognition given to what the data tell us about the most privileged kids of all: those living with their biological parents under the same roof. “Family structure is about as important as family income in predicting who graduates from college today,” says W. Bradford Wilcox, a visiting scholar at the American Enterprise Institute, professor of sociology at the University of Virginia and a senior fellow at the Institute for Family Studies. “In the absence of SAT scores, which can pinpoint kids from difficult family backgrounds with great academic potential, family stability is likely to loom even larger in determining who makes it past the college finish line in California.” The data are pretty conclusive. The more intact the family, the better the education outcomes. In a new IFS study (Links to an external site.) released Monday, research psychologist Nicholas Zill reports that when it comes to graduation from top colleges, “students from intact families are twice as likely to do so as those from all other family types combined.” By dropping SATs, UC hopes to produce a student body that includes higher percentages of blacks and Latinos. This requires discrediting the SATs as an indicator of college performance (a point contested by the UC Academic Senate). It also requires finding a way to make room for the students it wants by reducing the number of Asian-Americans (13.6% of California’s population but 29.5% of UC undergraduates). This is why the Asian American Coalition for Education warned the regents that, without the SAT, Asian-American applicants will “become easy victims of various radical acts of racial balancing.” Wenyuan Wu, who addressed the regents on the coalition’s behalf, tells me she cringes whenever the anti-SAT crowd invokes the “racial/socioeconomic biases argument.” She asks: “What about those Chinatown kids whose parents toil in ethnic enclaves with low incomes and tremendous language barriers?” Which raises a further indelicate question: Is it a coincidence that Asian-Americans, who disproportionately earn entry into UC, disproportionately come from intact families? If it’s unjust that rich kids get test prep from their parents, why doesn’t the university simply come up with a good prep course and provide it free to anyone who wants it? If the rejoinder is that the wealthy kids enjoy the further advantage of better schools, why do so many SAT opponents also reject measures that might help level the playing field—vouchers and charter schools come to mind—by giving underserved kids the opportunity of going to a good school too? The modern American university isn’t afraid to weigh in when it comes to issues outside its direct purview. Two days before UC announced its decision on the SAT, it boasted of having completely divested from fossil fuels. But when it comes to addressing a major factor keeping students out of its system and thus widening the achievement gap—crickets. As Charles Murray noted in “Coming Apart” (2012), the data showing the advantage to children of living with their biological parents across a range of outcomes are broadly accepted by social scientists. But those data are “resolutely” ignored by “network news programs, editorial writers for the major newspapers, and politicians of both major political parties.” Not to mention the UC regents. “Given the science,” Mr. Wilcox says, “why can’t universities bring themselves to tell the truth that if you’d like your kids to get a college degree—especially from a selective college—you’d do well to get and stay married?” COMMENT

President Trump has proposed imposing a tariff (e.g., a tax) on foreign producers of steel and aluminum who sell their product to the US market.

a) what would be the impact of this tariff on the price of steel and aluminum within the US market after the tariff is imposed?

b) What would be the effect of this tariff on the demand for products produced by US manufacturers who use steel or aluminum in the manufacture of their product, e.g., Boeing airplanes?

c) What would be the effect of this tariff on employment in these industries, e.g. Boeing engineers?

1. In a given university, number of credits completed by a BS graduate is a normal distribution. The average credits was 129.4, with a standard deviation of 5.2.

1. What is the chance that a randomly selected BS degree graduate completed over 135 credits?
2. What proportion of graduates will finish between 125 and 135 credits?
3. Among graduates, what is the lowest number of credits which is among top 2% of students with earned credits?
4. Kelly is graduating this semester, a student once heard that she took lots of classes unnecessary for the degree (could be due to the fact that she likes to learn), so it is reasonable to assume that she earned over 135 credits, what is the chance that she studied over 140 credits?
5. If we randomly select 6 graduates, what is the chance that 4 of them earn less than 140 credits?

Jon Williams, CPA, is in the middle of a quandary related to his audit and tax client Oneway Corporation. The three directors of Oneway are the officers and the only three stockholders, each owning exactly one-third of the shares.

President Raul Jack founded the company and is now nearing retirement. As an individual, he is also Williams' tax client.

Vice President Sandra Smith manages the day-to-day operations. She has been instrumental in increasing the business and its profits. Her individual tax work is done by a third party CPA.

Treasurer Chris Barnes has been a long-term, loyal employee responsible for many innovative financial transactions and reports of great benefit to the business. He is Williams's close personal friend and an individual tax client.

At his annual tax planning meeting with Williams, Raul Jack discussed the tax consequences of selling his one-third interest in Oneway Corporation to Sandra Smith. Raul believes that Sandra's business development efforts have contributed significantly to the growth of the business, so he would like to reward her with a majority ownership upon his retirement. He realizes this may be a challenge with Chris Barnes, so he wants to think more about possible incentives for Chris if this plan occurs.

Around the same timeframe, over an afternoon golf game with Chris Barnes, Barnes confides in Williams that he fears that Raul Jack and Sandra Smith will make a deal, put him in a minority position, and try to force him out of the company. Barnes says, "Jon, we've been friends a long time. Please keep me informed about Raul's plans. My interest in Oneway Corporation represents my life savings and I have a lot invested personally and professionally in the company."

Jon was clearly unsure of what to do given his roles in both relationships. He acknowledged to himself that he does not have a strong relationship with Sandra at this time, and she uses another CPA for her tax return. As such, he may lose the Oneway engagement if Sandra acquires Raul's shares and controls the corporation. On the other hand, Chris will probably suffer a great deal financially from the ownership change transaction if he does not know about Raul's plans, and Jon's unwillingness/inability to keep him informed will probably ruin their close friendship.

Jon ponders the problem.

Required:

Give Williams advice about alternative actions, considering the constraints of the AICPA Code of Professional Conduct.

​Please label names!

The Medicines Company was founded in 1996 for the purpose of acquiring or “rescuing” drugs abandoned by other drug companies, completing their development, and bringing them to market. Its first acquisition, in early 1997, was “Angiomax”-a blood-thinning drug used in angioplasty procedures. In December 2000, it received FDA approval for Angiomax. Now it must bring it to market. Complicating this task is the fact that Angiomax is designed to replace heparin, the most widely used blood-thinning drug in coronary medicine. But heparin sells for about $2 per dose while the cost to make Angiomax is $40 per dose.

1. What price would you recommend the company charge for Angiomax at launch?

The Medicines Company was founded in 1996 for the purpose of acquiring or “rescuing” drugs abandoned by other drug companies, completing their development, and bringing them to market. Its first acquisition, in early 1997, was “Angiomax”-a blood-thinning drug used in angioplasty procedures. In December 2000, it received FDA approval for Angiomax. Now it must bring it to market. Complicating this task is the fact that Angiomax is designed to replace heparin, the most widely used blood-thinning drug in coronary medicine. But heparin sells for about $2 per dose while the cost to make Angiomax is $40 per dose.

1. What is the economic value or value-in-use of Angiomax to a hospital? Be specific in your analysis and assumptions. Elaborate on all the steps in your analysis.

In a survey of 3276 adults aged 57 through 85​ years, it was found that 88.4​% of them used at least one prescription medication. Complete parts​ (a) through​ (c) below.

a. How many of the 3276 subjects used at least one prescription​ medication? ​(Round to the nearest integer as​ needed.)

b. Construct a​ 90% confidence interval estimate of the percentage of adults aged 57 through 85 years who use at least one prescription medication. ​__% < p < __%(Round to one decimal place as​ needed.)

c. What do the results tell us about the proportion of college students who use at least one prescription​ medication? A. The results tell us​ that, with​ 90% confidence, the true proportion of college students who use at least one prescription medication is in the interval found in part​ (b). B. The results tell us that there is a​ 90% probability that the true proportion of college students who use at least one prescription medication is in the interval found in part​ (b). C. The results tell us nothing about the proportion of college students who use at least one prescription medication. D. The results tell us​ that, with​ 90% confidence, the probability that a college student uses at least one prescription medication is in the interval found in part​ (b).

In a survey of 3025 adults aged 57 through 85​ years, it was found that 85.2​% of them used at least one prescription medication. Complete parts​ (a) through​ (c) below.

a. How many of the 3025 subjects used at least one prescription​ medication?

​(Round to the nearest integer as​ needed.)

b. Construct a​ 90% confidence interval estimate of the percentage of adults aged 57 through 85 years who use at least one prescription medication.

= %<p< %

​(Round to one decimal place as​ needed.)

c. What do the results tell us about the proportion of college students who use at least one prescription​ medication?

A. The results tell us that there is a​ 90% probability that the true proportion of college students who use at least one prescription medication is in the interval found in part​ (b).

B. The results tell us nothing about the proportion of college students who use at least one prescription medication.

C. The results tell us​ that, with​ 90% confidence, the probability that a college student uses at least one prescription medication is in the interval found in part​ (b).

D. The results tell us​ that, with​ 90% confidence, the true proportion of college students who use at least one prescription medication is in the interval found in part​ (b).

Medical research has shown that repeated wrist extension beyond 20 degrees increases the risk of wrist and hand injuries. Each of 24 students at a university used a proposed new computer mouse design. While using the mouse, each student's wrist extension was recorded. Data consistent with summary values given in a paper are given. Use these data to test the hypothesis that the mean wrist extension for people using this new mouse design is greater than 20 degrees. (Use

α = 0.05.

Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)

1. State your conclusion.

Reject H₀. We have convincing evidence that the mean wrist extension for all people using the new mouse design is greater than 20 degrees.

2. Are any assumptions required in order for it to be appropriate to generalize the results of your test to the population of students from this university?

We need to assume that the 24 students used in the study are representative of all students at the university.

3. Are any assumptions required in order for it to be appropriate to generalize the results of your test to the population of all university students?

1. We need to assume that the 24 students used in the study are representative of all students who use a wireless mouse.

2. We need to assume that the 24 students used in the study are representative of all students at the university.

3.. We need to assume that the 24 students used in the study are representative of all students who own PCs.

4. We need to assume that the 24 students used in the study are representative of all university students.

5.We need to assume that the 24 students used in the study are representative of all students in computer science classes

I am missing T and the third question

What is Intra-firm trade? Why might US firms be interested in investing abroad, setting up affiliates, producing parts and components of their products, and import from their own affiliates? Wouldn't it be easier to allow a foreign firm to produce the components and export those to the US? Clarify your answer by using the example of the American Apparel manufacturers who get their garments made abroad in their affiliates and then sew their own labels and sell those finished garments back in the home market.