Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire damage, in thousands of dollars (y). The MegaStat output is reported below

-1. Write out the regression equation. (Round your answers to 3 decimal places.) a-2. Is there a direct or indirect relationship between the distance from the fire station and the amount of fire damage? How much damage would you estimate for a fire 9 miles from the nearest fire station? (Round your answer to the nearest dollar amount.) c-1. Determine and interpret the coefficient of determination. (Round your answer to 3 decimal places.) c-2. Fill in the blank below. (Round your answer to one decimal place.) d-1. Determine the correlation coefficient. (Round your answer to 3 decimal places.) d-2. Choose the right option. d-3. How did you determine the sign of the correlation coefficient? e-1. State the decision rule for 0.01 significance level: H0 : ρ = 0; H1 : ρ ≠ 0. (Negative value should be indicated by a minus sign. Round your answers to 3 decimal places.) e-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.) e-3. Is there any significant relationship between the distance from the fire station and the amount of damage? Use the 0.01 significance level. rev: 10_12_2017_QC_CS-102203

Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire damage, in thousands of dollars (y). The MegaStat output is reported below.

1. Write out the regression equation. (Round your answers to 3 decimal places.)

2. a-2. Is there a direct or indirect relationship between the distance from the fire station and the amount of fire damage?

3. How much damage would you estimate for a fire 6 miles from the nearest fire station? (Round your answer to the nearest dollar amount.)

4. c-1. Determine the coefficient of determination. (Round your answer to 3 decimal places.)

5. c-2. Fill in the blank below. (Round your answer to one decimal place.)

6. d-1. Determine the correlation coefficient. (Round your answer to 3 decimal places.)

7. d-2. Choose the right option.

8. d-3. How did you determine the sign of the correlation coefficient?

9. e-1. State the decision rule for 0.01 significance level: H₀ : ρ = 0; H₁ : ρ ≠ 0. (Negative value should be indicated by a minus sign. Round your answers to 3 decimal places.)

10. e-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.)

11. e-3. Is there any significant relationship between the distance from the fire station and the amount of damage? Use the 0.01 significance level.

On Friday afternoon you received a call from a gentleman who identified himself as the chief executive officer of a firm in a small city about 100 miles from your headquarters. He wanted to charter an aircraft to make a trip to a small U.S. border town. He assured you that you would not be required to fly over the border into a foreign country or deal with customs agents. The trip would depart tomorrow (Saturday) evening, make a two-hour stop at the town’s airport, and return sometime after midnight Sunday morning.

The caller cautioned you about the confidentiality of the trip and requested that your two “most closed-mouthed” pilots fly the charter. In reply to some serious and repeated questions concerning the mission and legality of the trip and/or cargo, the caller assured you that the trip was for legal business purposes, and no contraband would be involved. He alluded to “a highly sensitive business matter” that would have an enormous effect on his firm if “the parties can agree.”

The aircraft you would have available to send is in good condition and its maintenance schedule is up-to-date; thus the trip would not endanger the readiness of the aircraft for its normal schedule the following Sunday. The prospective customer has offered you a fee that would net your firm $5,000 profit above the direct costs. The fee is somewhat large, considering the length of the trip, but the caller offered it, and you did not object.

You couldn’t find information about the firm online. Because it is late in the day on a Friday, you aren’t able to research the firm any further.

Your director of marketing is urging you to take the charter because of the potential profit and future business this firm might provide. “I’ve heard of the company. They’re in air conditioning or something like that. I’ve also heard they’re either trying to acquire another company, or they’re about to be acquired. This might be the final closing of the deal.”

1. Take the charter trip.

2. Do not take the charter trip.

A realtor studies the relationship between the size of a house (in square feet) and the property taxes (in $) owed by the owner. The table below shows a portion of the data for 20 homes in a suburb 60 miles outside of New York City.

a-1. Calculate the sample correlation coefficient r_xy. (Round intermediate calculations to at least 4 decimal places and final answers to 4 decimal places.)

a-2. Interpret r_xy.

a. The correlation coefficient indicates a positive linear relationship.

b. The correlation coefficient indicates a negative linear relationship.

c. The correlation coefficient indicates no linear relationship.

b. Specify the competing hypotheses in order to determine whether the population correlation coefficient between the size of a house and property taxes differs from zero.

a. H₀: ρ_xy = 0; H_A: ρ_xy ≠ 0

b. H₀: ρ_xy ≥ 0; H_A: ρ_xy < 0

c. H₀: ρ_xy ≤ 0; H_A: ρ_xy > 0

c-1. Calculate the value of the test statistic.

c-2. Find the p-value.

a. p-value < 0.01

b. p-value  0.10

c. 0.05  p-value < 0.10

d. 0.02  p-value < 0.05

e. 0.01  p-value < 0.02

d. At the 1% significance level, what is the conclusion to the test?

a. Reject H₀; we can state size and property taxes are correlated.

b. Reject H₀; we cannot state size and property taxes are correlated.

c. Do not reject H₀; we can state size and property taxes are correlated.

d. Do not reject H₀; we cannot state size and property taxes are correlated.

1. A state’s Division of Motor Vehicles (DMV) claims that 60% of all teens pass their driving test on the
first attempt. An investigative reporter examines an SRS of the DMV records for 125 teens; 56 of them
passed the test on their first try. Is there convincing evidence at the α=0.01 significance level that the
DMV’s claim is lower?

2. In a recent year, 65% of first-year college students responding to a national survey identified “being
very well-off financially” as an important personal goal. A state university finds that 102 of an SRS of
200 of its first-year students say that this goal is important. Is there convincing evidence at
the α=0.05 significance level that the proportion of all first-year students at this university who think
being very well-off is important differs from the national value of 65%?

3. Every road has one at some point—construction zones that have much lower speed limits. To see if
drivers obey these lower speed limits, a police officer uses a radar gun to measure the speed (in miles
per hour, or mph) of a random sample of 10 drivers in a 25 mph construction zone. Here are the data:
27 33 32 21 30 30 29 25 27 34
Is there convincing evidence at the α=0.01 significance level that the average speed of drivers in this
construction zone is greater than the posted speed limit?

4. A school librarian purchases a novel for her library. The publisher claims that the book is written at a fifth-grade reading level, but the librarian suspects that the reading level is lower than that. The librarian selects a random sample of 45 pages and uses a standard readability test to assess the reading level of each page. The mean reading level of these pages is 4.8 with a standard deviation of 0.6. Do these data give convincing evidence at the α=0.01 significance level that the average reading level of this novel is less than 5?

Short Case: Decisions - what to do?
There are some individuals that believer these ratios are too heavily relied upon and that they do not truly assess an organization's financial status. In reality, they provide a comparison of where the organization stands to other similar organization within the same industry. If a 100 bed hospital on average has only 50 beds filled each day, there is a possibility that the hospital is generating revenue below its projected budget and has had to reduce staffing. It would not make good business sense to staff for 100 patients when at best you would only occupy 50 of the 100 available beds.
It is probably safe to assume that this hospital is not in a profitable state based on the number of occupied hospital beds? In its best days, it was the only hospital in the area and now there are 2 competing hospitals. The mission of the hospital has not changed since it opened; it is "to be the best primary hospital provider within 60 miles". It offers a full range of ER and hospital care (x-rays, MRIs, clinics, specialty care, etc.)
While the hospital does have an ER, it is not a Level I trauma hospital. Additionally, due the a significant loss of jobs within the local community, many of the residents no longer have health insurance and/or are on Medicare or Medicaid.
I know there is little information to work from, but give it a try.


Short Case
1. As you are the CEO, would you try to turn this situation around or prepare the hospital for closure.
2. What ratios would you use as part of your analysis and why?
3. What are some of the other areas in which the hospital would need to consider reductions to meet its budget. What are some of the other options that the hospital could pursue to address its financial status?
4. Would this hospital be a good candidate for a merger/acquisition? Please explain the rationale for your choice and identify what assumptions your decision was based on.

Lyft is a San Francisco-based ride-sharing business. Through its "Lyft Platform" mobile application, Lyft allows someone looking for auto transportation to request a ride. All people registered with the app as "drivers" who are nearby the requesting party's location at the time are notified through the app of the request. The first driver to accept the request is matched with the requesting party and proceeds to pick up the requesting party and drive him/her to the requested destination.

People who sign up as Drivers provide their availability to Lyft through the app; Drivers are expected to accept all incoming requests during that available time unless already fulfilling another rider's request. Lyft prohibits Drivers from transporting riders more than 60 miles from the origin of the ride. Riders pay a fee for the ride to Lyft directly through their credit card; Riders may choose to provide a tip to the Driver, which is processed through the Lyft app. Lyfttakes 20% of all gratuity payments as an administrative fee, and Drivers are not permitted to ask for such payments. Pursuant to Lyft's Terms of Service, Lyftis permitted to terminate Drivers for any reason and at any time; Lyft Drivers are required to place a large pink mustache on the front of their vehicles when transporting a rider; Drivers are not permitted to speak with Riders about Lyft fees or to set their own rates; Drivers go through a 1 hour training course; and Lyft reserves the right to examine Drivers' vehicles for cleanliness and appearance.

Based on what we learned in these chapters, what possible legal risks does Lyft have through this relationship? Can you make an argument that Lyft Drivers are "employees" of Lyft? This issue has been litigated in a few courts, so you are welcome to look up recent news articles or read the court opinions (because you know how to do that now!); please still try to relate back to the basics of this week's reading or lecture, and definitely cite all sources used.

Analyze each stress situation by applying the components of the ABC-X Model. (A=Stressor, the thing that's causing the stress, life events that result in or require a family to change, B=Resources, things that can help them take care of the stress, internal or external and range from tangible (money, education/degrees earned) to intangible (social support systems), C=Perception, how the family is perceiving the stress, (1) How does the family view or define the problem? and (2) What is their understanding of the situation that resulted in the problem?, X=Crisis, when a family cannot put the stress event into perspective in a way that lets them manage it effectively)

SCENARIO #3—The Jones Family David and Stacy have been living in a small town where David is employed with a local law firm. If David keeps progressing as he has, he’s expected to be named a partner in the near future. David has been working for the firm for several years and has been able to support Stacy while she pursues her medical degree at the local university. Stacy is one year from graduating with her degree, and she must decide where to go for her residency. She receives word from her top choice—Healthy Hospital—that she has been accepted for their residency program. However, Healthy Hospital is 800 miles away. She and David have to decide what to do. They know that they don’t want to spend four years apart, but neither one wants to give up on their goals.

Be sure to identify the A, B, C & X in each scenario

In some of the descriptions, it may not be clear as there could be multiple factors influencing the family. You can create "hypothetical" explanations for the possible A, B, C & X.

Discuss how communication can contribute to the reduction or resolution of the stressful situation experienced in each of the scenarios.

What recommendations would you offer to family members to resolve the impact of the stress? (not really Psychology but it's the closest subject)

C++

Project Organization

Create a project called Project1 and then name and organize the following programs under it.

Part 1 CircleArea

You are going to write a program to compute and output the area of a circle with a radius of 2.5.

Think through what you need to do:

Create a variable for radius

set it to 2.5

Create a variable for area

set it to 3.14159 * radius * radius

output the value of area

Challenge (not required)

Generalize this so that you can input any radius and the program will output the area for it.

Part 2 TicTacShmoe

Write a program that prints out three different tic tac toe winning results. Make each one bigger than the last, separated by more spaces and lines:

1 0 0

0 1 0

0 0 1

0 0 1

0 1 0

1 0 0

The goal is to give you practice with the cout statements in C++

Part 3 TriangleArea

Write a program called TriangleArea, which calculates and outputs the Area of a triangle with a Base value of 3.5 and a Height value of 4.85. The formula for the area of a triangle is: 1/2 ×???? × ????ℎ?.

Your program should output correct answer.

Part 4 MilesToKilometers

Write a program that will tell me the conversion of 60 miles, into kilometers. Remember that 1 mile is 1.60934 kilometers.

Part 5 MyInitials

Write a sequence of cout statements to display your initials (2 – 3 letters) using a cool pattern for each letter.

>My Initial is BL

For example, here is a simple pattern for the initials IL:

II LL

II LL

II LL

II LL

II LL

II LL

II LL

II LL LL LL LL

Use around 8 cout statements to complete this exercise.

Part 6 DoubleUp

Write a program that ask the user to input a number. Then tell them, What double up is. For example, if the user inputs a 7, the program should output ~Double up is 14~

11.          In the Porter model a substitute for the products of Ozarka water (which I define as in the bottled water industry) would be:

1. Perrier Water    2. Movies           3. Generic water    

4. Hot dogs    5. Diet Coke

12.          Modern societies have evolved ethics against murder to be able to:

                1. Have different ethical values       2. Exclude more People    

                3. Build large scale societies

                                4. Grow without morals                     5. Have 14 major principles

13.          Ethical decision making is:

                1. Always a clear choice          2. Not a problem for new employees

                3. Often a tough choice among shades of gray

                4. not done often in America                           5. a step in MBO

14.          The most appropriate structure for a large consulting firm with many varied types of client projects is:

1. simple               2. centralized       3. Decentralized

                4. matrix               5. Functional

15.          A long term effort to infuse an organization with a sense of purpose and values is

                1. strategy             2. control               3. Leadership        

`               4. Profitability       5. TQM

16.          Divisional organizational structure is usually

                1. centralized        2. Functional         3. Matrix

                4. Decentralized   5. Bad for control diversification

17.          A model that gives a growth   view of the business is the __________ model

                1. Porter                2. Generic             3. Grand Strategy

                4. Financial            5. Miles and Snow

18.          Raw Materials, transportation, and parts are elements of the

                1. Business Model    2. The Financial Ratios    3. GE strategic planning

                                4. Grand Strategies                              5. The supply chain

19.          The stability category is part of the

                1. Business Model               2. The Financial Ratios        3.Porter’s Model

                                4. Grand Strategies                              5. The supply chain

20.          You are most likely to see Synergy in a company using

1 Unrelated Growth            2. Simple structure              3. question marks             

                4. Horizontal Growth         5. A Quick Ratio above 1