An assembly operation requires a 1-month training period for a new employee to reach max efficiency. A new method of training was suggested and a test conducted to compare the new method with the standard procedure. Two groups of nine new employees were trained for a period of 3 weeks, one group using the new method and the other following standard training procedure. The length of time in minutes required for each employee to assemble the device was recorded at the end of the 3-week period. The measurements are given in the table.

Assume the population variances are equal. Do the data present sufficient evidence to indicate that the mean time to assemble at the end of the 3-week training period is less for the new training procedure? Follow the steps (a) to (e) using a = .05.

1. What is the null hypothesis?

      H0: μx-μy=0

2. What is the alternative hypothesis?

      H1: μx-μy>0

3. What is the test statistic? Evaluate it.

DF= nx+ny-2=9+9-2=16

sp=4.72

P-Value = P(t > 1.65) = ?

4. What is the rejection region?

?

5. State your conclusion appropriately.

Given that the P-Value is small, it can be concluded that the null hypothesis is rejected and that the mean time to assemble at the end of the 3-week training period is less for the new training procedure?

Decide and state whether a one-sample z test, a two- sample z test, or a t test is appropriate. Whichever test you choose, state your null hypothesis, then obtain a P -value and formulate a valid conclusion.

1a.) 20 subjects who do not speak German are asked to participate in a trial for a new type of crash course in the German language. 10 subjects are randomly placed in Group A, to test the new teaching method, while the other 10 are placed in group B and given a more traditional crash course in German (though they are not told this is not the new approach). After both courses have ended, evaluators (who don’t know which course each subject took) determine that 50% of subjects in Group A are competent speakers of German, compared to 40% of subjects in Group B. Based on this, does the new method work better, or is the 10% difference due to chance?

1b.) 200 subjects who do not speak German participate in a trial for a new type of crash course in the German language. 100 subjects are randomly placed in Group A, to experience the new teaching method, while the other 100 are placed in group B and given a more traditional crash course in German (though they are not told this is not the new approach). After both courses have ended, evaluators (who don’t know which course each subject took) determine that 42% of subjects in Group A are competent speakers of German, compared to 38% of subjects in Group B. Based on this, does the new method work better, or is the 4% difference merely due to chance?

Exercise 13-3 Internal Rate of Return [LO13-3]

Wendell’s Donut Shoppe is investigating the purchase of a new $31,300 donut-making machine. The new machine would permit the company to reduce the amount of part-time help needed, at a cost savings of $5,300 per year. In addition, the new machine would allow the company to produce one new style of donut, resulting in the sale of 1,300 dozen more donuts each year. The company realizes a contribution margin of $3.00 per dozen donuts sold. The new machine would have a six-year useful life.

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables.

Required:

1. What would be the total annual cash inflows associated with the new machine for capital budgeting purposes?

2. What discount factor should be used to compute the new machine’s internal rate of return? (Round your answers to 3 decimal places.)

3. What is the new machine’s internal rate of return? (Round your final answer to nearest whole percentage.)

4. In addition to the data given previously, assume that the machine will have a $12,820 salvage value at the end of six years. Under these conditions, what is the internal rate of return? (Hint: You may find it helpful to use the net present value approach; find the discount rate that will cause the net present value to be closest to zero.) (Round your final answer to nearest whole percentage.)

1. [7 – 3] In terms of acting, Betty White is known for starring on 3 different long running television shows (The Mary Tyler Moore Show, The Golden Girls and Hot In Cleveland). Those three shows averaged 23.7 shows per season. However, it seems that shows are producing few episodes per season, and Betty decides to put that to the test. She takes a random sample of long running television programs and determined the number of episodes in their most recent season below:

13, 26, 23, 18, 24, 18, 19, 13, 13, 15, 16, 21, 20, 16, 26

You may assume that the data comes from a normal distribution.

1. Construct a 95% confidence interval for the average number of episodes per season for a television program

2. Based on your answer to (a), can we say that the average number of episodes per season is lower than the value 23.7, the average number of episodes for the shows that Betty starred in? Explain.

2. [5] Between 2006 and 2009, Betty appeared in 23 episodes of The Bold and The Beautiful. The work was quite different from her time on sitcoms. This led her to think about the following hypotheses:

H₀: Soap opera acting is the same difficulty as sitcom acting

H_a: Soap opera acting is harder than sitcom acting

Describe what a Type I error would look like in the context of this scenario.

3. [10] While playing the role of Catherine Piper on Boston Legal, Betty White “killed” the character of Bernard Ferrion (played by Leslie Jordan). Catherine ended being found not guilty, but it led Betty to wonder: are men and women treated differently when convicted of murder? As a result, Betty took two random samples of convicted murderers, given below, and determined how long the sentences were.

Men: 25, 30, 50, 25, 20, 30, 40, 25, 30, 25, 75, 25, 15

Women: 25, 15, 20, 15, 20, 25, 15, 30, 25, 40

You may assume the data comes from normal distributions. At the .05 level of significance, is there evidence to show that men get longer sentences for murder than women?

4. [10] Betty is a common diminutive of the name Elizabeth. As a result, many people think Betty White’s real first name is Elizabeth – but how large a proportion? Betty took a random sample of 265 people and found that 147 of them believe that Betty White’s real first name is Elizabeth. At the .05 level of significance, is there evidence that a majority (more than 50%) of all people think Betty White’s real first name is Elizabeth?

(Side note: Betty White’s real first name is… Betty – she says that it isn’t “short” for anything)

5. [10] In 1995, Betty White received a star on the Hollywood Walk of Fame – and her star is right near the star of her late husband, Allen Ludden. There are many couples that both have stars on the Hollywood Walk of Fame. This led Betty to wonder – is there a difference in the age between the husband and wife when they get their Hollywood star? As a result, Betty took a random sample of heterosexual couples that both have stars on the Hollywood Walk of Fame and recorded the age at which they received their star, given below.

At the .05 level of significance, is there evidence that there is a difference in the ages when husbands and wives get their Hollywood Walk of Fame star?

6. [10] For 19 years, Betty was hostess of the Tournament of Roses Parade (which is every year before the Rose Bowl). Of all the parades on television that exist, which is the favorite? A random sample of people was taken, with the results summarized below:

At the .05 level of significance, is there an association between gender and favorite parade on television?

7. [7 – 3] Betty starred on a great number of game shows – and perhaps my favorite was Match Game. While Betty was a great player, did she do better with some contestants than others? Betty took a random sample of Match Game episodes and found that she matched the male contestants 264 out of 385 times and matched the female contestants 294 out of 377 times.

1. Construct a 95% confidence interval for the difference in the proportion of the time Betty would match male contestants and the proportion of the time Betty would match female contestants.

2. Based on your answer to (a), can we conclude that Betty matched one group of contestants better than the other?

8. [12] There is a Facebook group devoted to The Golden Girls. On a regular basis, the group poses the question: Which Golden Girl was your favorite? A recent random sample of members of the Facebook group answered the question, given in the table below.

At the .05 level of significance, is there evidence to show that the distribution of favorite Golden Girls character is not uniform? (meaning, not an equal distribution)

9. [3 – 5 – 3 – 2 – 2] In 2010, Betty White (at age 88!) hosted an episode of Saturday Night Live, becoming the oldest host the show has ever had. Most people know that she was the oldest. However, what about the second oldest? Do people have an idea how old the second oldest guest host was? A random sample of people was taken; these people were asked two questions: what is your age (x) and what do you believe is the age of the second oldest SNL host?

Note: the second oldest SNL guest host was Miskel Spillman at age 80 (in 1977) who won a contest and is the only non-celebrity to host the show.

1. Draw a scatterplot for this set of data

2. Find the linear correlation coefficient. Based on that value, is there evidence of a linear relationship between the variables? Explain.

3. Find the line of best fit.

4. Predict the value of y given the value of x = 40

5. Find the residual for x = 40.

10. [5] Suppose that it can be shown that there is evidence of the following: There is a strong association between Betty White being a star on a show and Professor Simpson watching that show religiously.

Claim: By having Betty White star on a television show will guarantee Professor Simpson watches the show religiously.

What is the issue with this claim?

11. [6] While on Hot In Cleveland, Betty White was part of 2 live episodes. Not surprisingly, this increased her stress level. What about other actors? Stress scores follow a normal distribution with a mean of 3 and a standard deviation of 1.15. If a sample of 25 actors are taken, what is the probability that their average stress score is above 3.1?

1.Reducing scrap of 4-foot planks of hardwood is an important factor in reducing cost at a wood-flooring manufacturing company. Accordingly, engineers at Lumberworks are investigating a potential new cutting method involving lateral sawing that may reduce the scrap rate. To examine its viability, samples of 500 and 400 planks, respectively, were examined under the old and new methods. Sixty-two of the 500 planks were scrapped under the old method, whereas 33 of the 400 planks were scrapped under the new method.

1a. Construct the 90% confidence interval for the difference between the population scrap rates between the old and new methods, respectively.

1b. Select the null and alternative hypotheses to test for differences in the population scrap rates between the old and new cutting methods, respectively.

• H₀: p₁ − p₂ = 0; H_A: p₁ − p₂ ≠ 0

• H₀: p₁ − p₂ ≤ 0; H_A: p₁ − p₂ > 0

• H₀: p₁ − p₂ ≥ 0; H_A: p₁ − p₂ < 0

1c. Using the part a results, can we conclude at the 10% significance level that the scrap rate of the new method is different than the old method?

we____ H0. At the 10% significance level, we _____ conclude the proportions are different between the old and the new methods.

"A study was conducted to evaluate new test for human papilloma virus (HPV). One hundred fifteen women with HPV were compared to 426 women who did not have HPV. A total of 97 women tested positive using the new test, 81 of whom really did have HPV.

You will be graded on calculations (including completion of the 2x2 table as shown in class and showing your work for calculation, your interpretations, and your answers to the other questions. Your interpretations must be specific and will be graded on accuracy, correct use of scientific terminology, professional writing style, grammar and spelling."

a) Complete a contingency table

b) How many women are in each of the following categories?

True positives:

False positives:

True negatives:

False negatives:

c) Calculate and interpret the sensitivity of the new screening test.

d) Calculate and interpret the specificity of the new screening test.

e) Calculate and interpret the positive predictive value of the new screening test.

f) Calculate and interpret the negative predictive value of the new screening test.

g) Do you think that it would be better to use this new screening test for HPV or an older screening test with 90% sensitivity and 80% specificity. The older screening test is more expensive. Write 75-100 words supporting your position.

Type or paste questi

The xyz Hospital is considering 2 investments:
a) new X-Ray machine cost: $1,500,000 estimated savings $2 per X-Ray currently doing 150,000 X-Rays per year
life of new machine 6 years old X-Ray machine can be sold to McDonalds to keep frys warm for $30,000                                                   
b) new MRI machine cost: $3,000,000 estimated savings $50 per MRI procedure; currently doing 15000 per year
life of new MRI machine 5 years old MRI machine can be sold to Spectre Hospital for $91,000.            

xyz Hospital can borrow at 7%.
              
a) what is the payback for the X-Ray machine?
b) What is the payback for the MRI machine?
                              
c) From a financial perspective (net present value) , should xyz Hospital buy the new X-Ray machine?why or why not                                      
                                                          
) from a financial perspective(net present value) should xyz Hospital buy the new MRI machine? why or why not                                  
                                                          
e) The State Hospital Board has decreed that xyz Hospital can only acquire at most 1 new machine this year. which one (or none) should xyz Acquire?               
defend your position       

on here

Rocky Road Bikes is evaluating the possibility of offering a new top-of-the-line bike model. The company’s market research team estimates that first year sales of the new model will be 25,000 units at the proposed price of $750.00 per unit and estimated cost per unit of $275.00. Sales are expected to grow 4% per year in each of the following 5 years, until the new model is discontinued at the end of year 6. The market research team also estimates the introduction of the new model will erode sales of the current top model by a constant 5,000 units per year. The current top model has a price of $500.00 and associated costs of $145.00.The required tooling and machinery to manufacture the new model will cost a total of $15,000,000, and this will be depreciated on a straight-line basis over the six-year life of the project to zero. The company expects to be able to sell the machinery at the end of the project for $3,000,000. There will also be fixed costs associated with the new model of $6,000,000 per year. The new model will require an increase in working capital of $250,000 which will be returned at the end of the project. Rocky Road has a tax rate of 35%, and management believes that the discount rate for this project should be 12%.

What is the NPV of this project?

Please use excel, this is how I need to answer it and it's confusing to me

Tanya Williams is the new accounts manager at Southpac Bank. She has just been asked to estimate how many new bank accounts she will generate during the next year. The Australian economy has been growing and the bank has experienced a 10 percent increase in the number of bank accounts over each of the past five years. In the year just ended the bank had 10000 accounts.

The new accounts manager is paid a salary plus a bonus of $50 for every new account she generates above the budgeted amount. Thus, if the annual budget calls for 500 new accounts and 540 new accounts are achieved, Williams’ bonus will be $2 000 (40 × $50). Williams believes that the economy will continue to grow at the same rate next year as it has in recent years. She has decided to submit a budgetary projection of 700 new accounts for the coming year.

Required:

1)Your consulting firm has been hired by the managing director of the bank to make recommendations for improving its operations. Define and explain the negative consequences of budgetary slack.

2)Discuss how the bonus program may encourage budgetary slack.

3)How might the bank reduce the incentive to create budgetary slack?

Tanya Williams is the new accounts manager at Southpac Bank. She has just been asked to estimate how many new bank accounts she will generate during the next year. The Australian economy has been growing and the bank has experienced a 10 per cent increase in the number of bank accounts over each of the past five years. In the year just ended the bank had 10 000 accounts.

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The new accounts manager is paid a salary plus a bonus of $50 for every new account she generates above the budgeted amount. Thus, if the annual budget calls for 500 new accounts, and 540 new accounts are achieved, Williams’ bonus will be $2 000 (40 × $50).

Williams believes that the economy will continue to grow at the same rate next year as it has in recent years. She has decided to submit a budgetary projection of 700 new accounts for the coming year.

Required:

1. Your consulting firm has been hired by the managing director of the bank to make recommendations for improving its operations. Define and explain the negative consequences of budgetary slack.
2. Discuss how the bonus program may encourage budgetary slack.
3. How might the bank reduce the incentive to create budgetary slack?