Six data sets are presented, some of them are samples from a normal distribution, and some of them are samples from populations that are not normally distributed. Identify the samples that are not from normally distributed populations.

L1: Drug concentration six hours after administration

L2: Reading scores on standardized test for elementary children

L3: The number of minutes clerical workers took to complete a certain worksheet

L4: The level of impurities in aluminum cans (in percent)

L5: The number of defective items produced during an hour

L6: The weight of trout in ounces

Look at your modified boxplots. Which boxplot(s) show(s) outliers in the data?

Six data sets are presented, some of them are samples from a normal distribution, and some of them are samples from populations that are not normally distributed. Identify the samples that are not from normally distributed populations.

L1: Drug concentration six hours after administration

L2: Reading scores on standardized test for elementary children

L3: The number of minutes clerical workers took to complete a certain worksheet

L4: The level of impurities in aluminum cans (in percent)

L5: The number of defective items produced during an hour

L6: The weight of trout in ounces

For which of the sample data sets is it reasonable to treat as a sample from an approximately normal population?

Use Excel to complete the following question. You must submit/attach all work done in Excel

in order to receive full credit.

5. A health advocacy group conducted a study to determine if the nicotine content of a particular

brand of cigarettes was equal to the advertised amount. The cigarette brand advertised that the

average nicotine content per cigarette was 1.4 milligrams. The advocacy group randomly

sampled 24 cigarettes. The nicotine level for each of the sampled cigarettes is given below.

Nicotine mg. Nicotine mg.

1.8          1.9

1.1          1.6

1.2          1.9

1.2          1.9

1.0          2.0

2.0          1.6

1.7          1.1

2.0          1.8

2.3          1.9

1.4          1.4

0.9          1.8

2.4          1.5

a. Use Excel to obtain the sample mean and sample SD. Construct the 95 % confidence

interval. Enter the data into one, single column.

b. Provide an interpretation of the confidence interval from part A.

c. Does the obtained confidence interval contain the average nicotine level per cigarette

suggested by the cigarette maker? Explain what this means.

6. The National Heart, Lung, and Blood Institute completed a large-scale study of cholesterol and

heart disease, and reported that the national average for blood cholesterol level of 50-year old

males was 210 mg/dl. A total of 89 men with cholesterol readings in the average range (200 –

220) volunteered for a low cholesterol diet for 12 weeks. At the end of the dieting period their

average cholesterol reading was 204 mg/dl with a SD of 33 mg/dl.

a. What is the 95% confidence interval for the study described above? (submit all work)

b. Provide an interpretation of your answer to part A.

c. Does the known population mean of 210 mg/dl fall within the interval?

d. Provide an interpretation of your answer to part C.

e. How would (1) decreasing the sample size and (2) decreasing the confidence level

affect the size of the interval calculated in part A? Explain your answer.

West and Jones Granite Corp uses a standard cost system for its single product. The following data are available: ACTUAL for the current year: Purchase of raw materials (5,200 sq ft at $11.80) $61,360 Raw materials used 4,800 sq ft Direct Labor costs (22,000 at $13.80) $303,600 Actual variable overhead cost $64,250 Units produced 5,820 units Standards per unit of product: Raw materials 1.0 sq ft at $10.70/sq ft Direct labor 3.8 hours at $13.50/hr Variable overhead $2.75 per direct labor hour Compute the following variances: 1. material variance (price and quantity) 2. labor variance (rate and efficiency) 3. variable overhead variance (spending and efficiency)

1- Using the attached problem, compute the material price variance.

2-

Using the attached problem, compute the material quantity variance.

6.5.4

According to the WHO MONICA Project the mean blood pressure for people in China is 128 mmHg with a standard deviation of 23 mmHg (Kuulasmaa, Hense & Tolonen, 1998). Blood pressure is normally distributed.

1. State the random variable.
2. Suppose a sample of size 15 is taken. State the shape of the distribution of the sample mean.
3. Suppose a sample of size 15 is taken. State the mean of the sample mean.
4. Suppose a sample of size 15 is taken. State the standard deviation of the sample mean.
5. Suppose a sample of size 15 is taken. Find the probability that the sample mean blood pressure is more than 135 mmHg.
6. Would it be unusual to find a sample mean of 15 people in China of more than 135 mmHg? Why or why not?
7. If you did find a sample mean for 15 people in China to be more than 135 mmHg, what might you conclude?

6.5.6

The mean cholesterol levels of women age 45-59 in Ghana, Nigeria, and Seychelles is 5.1 mmol/l and the standard deviation is 1.0 mmol/l (Lawes, Hoorn, Law & Rodgers, 2004). Assume that cholesterol levels are normally distributed.

1. State the random variable.
2. Find the probability that a woman age 45-59 in Ghana has a cholesterol level above 6.2 mmol/l (considered a high level).
3. Suppose doctors decide to test the woman’s cholesterol level again and average the two values. Find the probability that this woman’s mean cholesterol level for the two tests is above 6.2 mmol/l.
4. Suppose doctors being very conservative decide to test the woman’s cholesterol level a third time and average the three values. Find the probability that this woman’s mean cholesterol level for the three tests is above 6.2 mmol/l.
5. If the sample mean cholesterol level for this woman after three tests is above 6.2 mmol/l, what could you conclude?

Smoky Mountain Corporation makes two types of hiking boots—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. (Do not round your intermediate calculations.)

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. (Negative product margins should be indicated with a minus sign. Round your intermediate calculations to 2 decimal places.)

West and Jones Granite Corp uses a standard cost system for its single product. The following data are available: ACTUAL for the current year: Purchase of raw materials (5,200 sq ft at $11.80) $61,360 Raw materials used 4,800 sq ft Direct Labor costs (22,000 at $13.80) $303,600 Actual variable overhead cost $64,250 Units produced 5,820 units Standards per unit of product: Raw materials 1.0 sq ft at $10.70/sq ft Direct labor 3.8 hours at $13.50/hr Variable overhead $2.75 per direct labor hour Compute the following variances: 1. material variance (price and quantity) 2. labor variance (rate and efficiency) 3. variable overhead variance (spending and efficiency)

1- Using the attached problem, compute the material price variance.

2-

Using the attached problem, compute the material quantity variance.

Hello!

I am stuck on only B-1 Recession EPS - I got everything else and I cannot figure out what I'm doing wrong - I keep getting $4.81, but it's incorrect and I don't know why. Can you help? I pasted my numbers below the question.

I know the answers outside of the recession one are correct - so I cannot determine what is wrong, can you help? Below is my work.

Thank you!

Acme Financial issues letters of credit to importers for overseas purchases. The company charges a nonrefundable application fee of $4,000 and, on approval, an additional service fee of 2.0% of the amount of credit requested.

The company’s budget for the year just completed included fixed expenses for office salaries and wages of $600,000, leasing office space and equipment of $60,000, and utilities and other operating expenses of $10,000. In addition, the budget also included variable expenses for supplies and other variable overhead costs of $1,000,000. The company estimated these variable overhead costs to be $2,000 for each letter of credit approved and issued. The company approves, on average, 75% of the applications it receives.

During the year, the company received 600 requests and approved 70% of them. The total variable overhead was 10.0% higher than the standard amount applied; the total fixed expenses were 5.0% lower than the amount budgeted.

In addition to these expenses, the company paid a $270,000 insurance premium for the letters of credit issued. The insurance premium is 1.0% of the amount of credits issued in U.S. dollars. The actual amount of credit issued often differs from the amount requested due to fluctuations in exchange rates and variations in the amount shipped versus the amount ordered by importers. The strength of the dollar during the year decreased the insurance premium by 10.0%.

Required:

1. Calculate (or determine) the following budgeted overhead costs for the year:

(a) the variable overhead application rate (per letter of credit issued)

(b) the insurance cost percentage

(c) the fixed overhead application rate (per letter of credit issued)

2. Prepare an analysis of the overhead cost variances for the year just completed and in so doing answer the following questions:

(a) What is the total overhead flexible-budget variance for the period?

(b) What is the overhead volume variance for the period?

(c) What is the total overhead cost variance for the year?

Indicate whether each of the above variances is favorable (F) or unfavorable (U).

1. A project manager has been asked to support an internal project request by developing a business case.

What kind of information is the person expected to provide in the document?

a The detailed information from a business standpoint to determine whether bidding for the customer project will be successful.

b The detailed information from a project management standpoint to determine whether the project will be successful.

c The detailed information from a technical standpoint to determine whether the project will be successful.

d The necessary information from a business standpoint to determine whether the project is worth the investment.

2 You found the following earned value analysis information for a project that was recently closed-out:

SPI = 0.7, CPI = 1.0

a The project has been cancelled while it was executed. At that time the project was behind schedule and on budget.

b The project's deliverables have all been finished. The project came in behind schedule but on budget.

c The project's deliverables have all been finished. The project came in ahead of schedule but on budget.

d The project's deliverables have all been finished. The project came in on schedule but over budget.

3 Which should be included in a requirements management plan?

a The document should trace requirements to project scope / WBS deliverables.

b It should describe how requirements activities will be planned, tracked, and reported.

c It should trace high-level requirements to more detailed requirements.

d It should trace requirements to business needs, opportunities, goals, and objectives.

4 In a traditionally drawn decision tree, a circle represents ___________.

a a chance to which no expected monetary value can be assigned so that a likely pay-off can not be shown.

b a decision to which no expected monetary value can be assigned so that a likely pay-off can not be shown.

c a chance to which an expected monetary value may be assigned to calculate the most likely pay-off.

d a decision to which an expected monetary value may be assigned to calculate the most likely pay-off.