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

Trend or time-series analysis is another term used for ____ analysis

Multiple Choice

• Ratio

• Horizontal

• Vertical

• Diagonal

Vertical analysis refers to:

Multiple Choice

• Expressing each item in a financial statement as a percentage of the same base amount.

• Expressing each item in a financial statement in order of highest amount to lowest amount.

• Expressing each item in a financial statement as its trend over time.

• Expressing each item in a financial statement in order of highest importance to lowest importance.

The times interest earned ratio is classified as an indicator of a company's:

Multiple Choice

• Profitability.

• Long-term survival.

• Liquidity.

• Solvency.

Which of the following is an example of horizontal analysis?

Multiple Choice

• Comparing a balance sheet account with another balance sheet account at the same point in time.

• Comparing a balance sheet account with an income statement account.

• Comparing an income statement account with another income statement account at the same point in time.

• Comparing a balance sheet account over time.

Which of the following is an example of horizontal analysis?

Multiple Choice

• Comparing assets with equity.

• Comparing gross profit across companies.

• Comparing gross profit with operating expenses.

• Comparing the change in sales over time.

Jamble Co. reports cash of $40,000, accounts receivable of $60,000, inventory of $150,000, equipment of $350,000, and current liabilities of $100,000. What is Jamble's current ratio?

Multiple Choice

• 6.0.

• 1.0.

• 1.4.

• 2.5.

Which of the following is an example of conservative accounting?

Multiple Choice

• Adjusting the allowance for uncollectible accounts to a smaller amount.

• Recording the lowest possible warranty expense.

• Changing to a longer useful life for depreciating a long-lived asset.

• Recording inventory at lower of cost or net realizable value.

Sports Unlimited reports net income of $240,000, sales revenue of $24 million, and average total assets of $3 million. The asset turnover is:

Multiple Choice

• 12 times.

• 0.08 times.

• 8 times.

• 1.5 times.

amble Co. reports cash of $40,000, accounts receivable of $60,000, inventory of $150,000, equipment of $350,000, and current liabilities of $100,000. What is Jamble's acid-test ratio?

Multiple Choice

• 6.0.

• 1.0.

• 4.5.

• 2.5.

Which of the following is an example of an aggressive accounting practice in relation to the reporting of net income?

Multiple Choice

• Judging a contingent loss to be reasonably likely instead of probable.

• Estimating the useful life of a depreciable asset to be 10 years instead of 6 years.

• Assuming net realizable value of inventory remains above cost despite lack of sales of current inventory.

• All of the other answers are examples of aggressive accounting.

The Sports Addition reports net sales of $2 million, cost of goods sold of $1 million, operating expenses of $500,000, and other expenses of $100,000. If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by:

Multiple Choice

• $400,000.

• $2,000,000.

• $100,000.

• $1,000,000.

Which of the following is an example of aggressive accounting?

Multiple Choice

• Recording the lowest possible warranty expense.

• The write-down of overvalued inventory.

• Adjusting the allowance for uncollectible accounts to a larger amount.

• Changing to a shorter useful life for depreciating a long-lived asset.

Which of the following ratios is more useful in evaluating solvency?

Multiple Choice

• Debt to equity ratio.

• Receivables turnover ratio.

• Inventory turnover ratio.

• Current ratio.

Conservative accounting practices refer to:

Multiple Choice

• Practices that result in reporting lower income, lower assets, and/or higher liabilities.

• Practices that reduce the amount of tax paid to federal, state, and local jurisdictions.

• Practices that result in greater employee training to avoid injuries.

• Practices that result in management taking fewer risky operating decisions that have the potential to result in losses.

The Sports Addition reports net sales of $2 million, cost of goods sold of $1 million, operating expenses of $500,000, and other expenses of $100,000. The Company's gross profit ratio is:

Multiple Choice

• 100%.

• 25%.

• 50%.

• 5%.

Exercise 6: Determination of growth of E.coli

At the conclusion of this exercise you should be able to:

• determine the growth of an E.coli suspension over time using turbidometric analysis and viable count method.
• determine the generation time of the growth of E.coli.
• understand the phases of growth of E.coli over a period of time.

Description of the experiments

This experiment will determine the growth of E.coli over a four hour time period. In order to record this growth, we will be using two methods of determining growth: turbidometry and viable count methods. To begin this experiment, a 1.0 ml sample of an overnight culture of E.coli was placed in a 100 ml flask containing sterile nutrient broth. To determine an initial timepoint (time zero), a 2.0 ml sample was removed, 1.0 ml of which was used to examine turbidometry (Absorbance) at 600nm wavelength and 0.1 ml of the sample was applied to a nutrient agar plate and spread onto the plate to determine viable counts.

The flask was subsequently placed in a 37⁰ C shaking water bath to allow the cells to grow. The flask was removed to obtain an hourly sample of culture, where 2.0 ml was aseptically removed from the flask to perform turbidometric and viable plate count methods (times 1 to 4 hours). To perform the viable counts over time, serial ten-fold dilutions of sample were made by adding 0.1 ml of sample to 9.9 ml of sterile water (this dilution is know as 1/10, or in scientific terms a 10¹ dilution). For this experiment, dilutions were made up to 10⁷ for each subsequent timepoint.

A 0.1ml sample was removed from dilutions and added to a nutrient agar plate. The sample was subsequently spread onto the surface of the plate covering all quadrants of the plate (this is known as a lawn inoculum). After allowing plates to dry, plates were inverted upside down and placed in an incubator at 37⁰C and removed after 18-24 hours. After incubation, plates showing colony numbers of 300 or less were counted for each time point. These are known as colony forming units (CFUs).

For a visual demonstration of how to perform serial dilutions and observe the appearance of colonies formed using this technique, watch How to Quantify Bacterial Culture Concentrations Using Serial Dilution and Plate Counts:

Results

Turbidometric recordings

Viable count (CFU) after 18 hours

*Use proper scientific notation

1. Tabulate the number of viable cells and record in the table above. Remember that each colony is equivalent to 1 colony forming unit (CFU) or 1 cell. Because you plated only 0.1 mL of sample per plate, you must also take into account a plating factor (PF) of 10. To calculate the number of cells per ml use this formula :

# colonies on plate X 1/dilution X PF = #cells/ml e.g. 33 cells on the 10-5 plate would be:

33 X 105 X 10 =3.30 X 107 cells/ml (33 000 000 cells/ml)

2. Provide a graph, plotting the turbidity recorded and the log number of viable cells/ml for each time point. A graph pad is provided below. NOTE: You can hand draw and insert a picture or insert excel graph

3. Determine the generation time by using the following formula :

Generation time =∆ t log 2

Log n – log N

Where: N = number of bacteria at a particular time point during log phase

n = number of bacteria at a second time point during log phase

∆t = time

Smoky Mountain Corporation makes two types of hiking boots—the Xtreme and the Pathfinder. Data concerning these two product lines appear below:

The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below:

Required:

1. Compute the product margins for the Xtreme and the Pathfinder products under the company’s traditional costing system.

2. The company is considering replacing its traditional costing system with an activity-based costing system that would assign its manufacturing overhead to the following four activity cost pools (the Other cost pool includes organization-sustaining costs and idle capacity costs):

Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system.

3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.

Smoky Mountain Corporation makes two types of hiking boots—the Xtreme and the Pathfinder. Data concerning these two product lines appear below:

The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below:

Required:

1. Compute the product margins for the Xtreme and the Pathfinder products under the company’s traditional costing system.

2. The company is considering replacing its traditional costing system with an activity-based costing system that would assign its manufacturing overhead to the following four activity cost pools (the Other cost pool includes organization-sustaining costs and idle capacity costs):

Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system.

3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.