10. A researcher claims that the mean rate of individuals below poverty in the City of Chicago is below 17 %. Based on the data represented for the years 2005 – 2011, perform a hypothesis test to test his claim using a significance level of α = 0.10.

11. Would your conclusion change for question 10 if you used a significance level of α = 0.05? Explain.

12. A survey conducted at Chicago Public Schools (CPS) involving high school students on whether they had participated in binged drinking during the past month. Binge drinking was defined as 5 or more drinks in a row on one or more of the past 30 days.

a. From the sample data is there evidence that the proportion of students who participate in binge drinking is greater than 10%? Write a null and alternative hypothesis and perform an appropriate significance test using α=0.05.

b. Construct a 90% Confidence Interval for the population proportion. Does it support the same conclusion as in 12a? Explain.

1-What are the Major Risks Tom and Nancy face? 2-What different insurance products do they need? 3-How much insurance should they carry? 4-If Life Insurance is recommended, what policy value? Question:Tom and Nancy Smith are married, with 2 children •Nancy is 38, Tom 42 •Both have active lifestyles •They ski and snowmobile in the winter •Their children, Emily and Brian, are 6 and 8 respectively •Nancy is a CPA at a local accounting firm ($150K annual salary) •Hank teaches at the local high school ($85K) Assets •Three bedroom home worth $500K •Two SUVs •Snowmobiles Case Study - Insurance Long Term Goals for the Smiths. •Income Replacement in case of the death of either Tom or Nancy •College for their children •Retirement Income is covered by Tom and Nancy's Employment

1-What are the Major Risks Tom and Nancy face?

2-What different insurance products do they need?

3-How much insurance should they carry?

4-If Life Insurance is recommended, what policy value?

imagine, or maybe you have been, that you are on an Ethics Committee at a large hospital. “Your committee must make a very important decision. Seven patients (A. - G.) need a heart transplant. There is only one heart donor at this time. All of the patients are eligible to receive this heart. All are physically able. And all have compatible tissue and blood typing.”
Patient Waiting List:
A. 31 year old male; African American, brain surgeon at the height of his career; no children
B. 12 year old female; Vietnamese; accomplished violinist; blind
C. 40 year old male; Hispanic, teacher, 2 children
D. 15 year old female; White, unmarried, 6 months pregnant
E. 35 year old male; Hispanic; Roman Catholic priest
F. 17 year old female; White; waitress; high school dropout; supports/cares for a brother who is severely disabled
G. 38 year old female; White; AIDS researcher; no children; lesbian

Question 1. A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1000. The cost of capital $3,000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company's cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard. Should the company produce and sell it? Explain. What core principles should be considered in the snowboard company's decision making? (i) Scarcity, choice, and opportunity cost (ii) Cost-benefit analysis (iii) Incentive principle (iv) Diminishing returns

Question 2. Timothy quits his job, which pays $60,000 a year, to enrol in a 2-year graduate program. His annual school expenses are $60,000 for tuition, $8,000 for books, and $1,400 for food. What is his opportunity cost of attending the graduate program? What core principles are considered in Timothy's decision making? (i) Scarcity, choice, opportunity cost (ii) Cost-benefit analysis (iii) Incentive principle (iv) Diminishing returns

It is widely accepted that spending money to promote healthy lifestyles and prevent health problems makes good economic sense.  Epidemiologists often measure if the money spent implementing a health promotion program is economically worth the outcomes – i.e. – is it cost-beneficial (does it save money)?  This analysis, called a CBA, is often reported as ROI – Return on Investment.

Create a hypothetical intervention program that you believe would result in a positive ROI in a workplace, school, community organization, or clinical setting.  Project your expected costs (investment) of the program (you may keep it brief – use 3-5 line items that you think might be reasonable and expected costs of implementing your program).  Then project the savings (benefits) of your investment (again hypothetically create a cost-saving using 2-3 line items).  Show your work using the ROI equation.  Do you think your program would result in a ROI greater than one?  Why did you select this particular health promotion program?

8. Price discrimination can occur If:
a.) producers are price takers
b.) there are many firms in the industry, all producing the same identical good.
c.) the market structure is monopolistic competition.
d.) all consumers have the same willingness to pay for the good.

10. The Go Sports Company is a profit-maximizing firm with a monopoly in the production of school team pennants. The firm sells its pennants for $10 each. We can conclude that Go Sport is producing a level of output at which:
a.) average total cost is greater than $10.
b.) average total cost equals $10.
c.) marginal revenue equals $10.
d.) marginal cost equals marginal revenue.

14. The demand curve for monopoly is:
a.) the entire MR curve.
b.) the MR curve above the AVC curve.
c.) above the MR curve.
d.) the MR curve above the horizontal axis.

15. Price discrimination leads to a __ price for consumers with a ___ demand.
a.) higher; less elastic
b.) higher; perfectly elastic
c.) higher; more elastic
d.) lower; less elastic

1. If the Ortiz Corporation purchases 100 washing machines from the Whirlpool Corporation FOB Shipping Point, who pays for the cost of shipping the machines from Whirlpool to Ortiz?

2. Rodriguez Company reported the following balances at November 30, 2019:

                                Gross Sales Revenue                                                 $16,000

                                Sales Returns and Allowances                                          600

                                Sales Discounts                                                                300

                                Cost of Goods Sold                                                        7,600

1. What are the net sales for the month?

2. What is the gross margin for the month?

3. Reid Supply sells backpacks and other school supplies. The company uses a perpetual inventory system. During June, the following transactions and events occurred:

June           4 Sold 70 backpacks at $25 each to Hunter Company, terms 2/10, n/30, F.O.B. Shipping Point.

June           6 Gave credit of $150 for the return of 6 backpacks purchased on Sept. 4 that were defective.

June 14 Received a check as payment in full from Hunter Company.

Instructions: Please write the journal entries for the June sales transactions for Reid Supply.

Using the data below about level of risk for juvenile detention (from 1 to 5 with 5 being high risk), number of at-risk factors (i.e., poverty, truancy from school), and progress for 25 juveniles, measured on a scale from 1 to 100, 10 years after the introduction of a program. What conclusion might you be able to draw from your results?

A researcher would like to know whether there is a significant relationship between Verbal skills and Math skills in population of high school students. A sample of n = 200 students is randomly selected and each student is given a standardized Verbal skills test and a standardized Math skills test.

Based on the test results, students are classified as High or Low in Verbal skills and Math skills.

The results are summarized in the following frequency distribution table (i.e., the numbers represent the frequency count of students in each category):

Based on these results, can the researcher conclude that there is a significant

relationship between Verbal skills and Math skills? Test at the .05 level of significance.

For full credit, your answer must include:

         - hypotheses

         - computed Chi² test for Independence (show all computational steps)

         - computed phi-coefficient to measure the strength of the relationship

         - df and the critical Chi²value for p < .05

         - decision about H₀ and conclusion in the APA reporting format