1)

Lasso Corporation manufactures a variety of appliances which all use Part B89. Currently, Lasso manufactures Part B89 itself. It has been producing 10,000 units of Part B89 annually. The annual costs of producing Part B89 at the level of 10,000 units include the following:

All of the fixed manufacturing overhead costs would continue whether Part B89 is made internally or purchased from an outside supplier. Assume Lasso can purchase 10,000 units of the part from the Nadal Parts Company for $20.20 each, and the facilities currently used to make the part could be used to manufacture 10,000 units of another product that would have a $10 per unit contribution margin. If no additional fixed costs would be incurred, what should Lasso do?

Please answer all with steps shown. You will be rated.

Two plants, A and B, ship appliances to a warehouse.  Plant A produces 60% of the warehouse's inventory and plant B produces the rest of the warehouse's inventory. It is known that 2% of the appliances from plant A are defective and 3% of the appliances from plant B are defective.

a)  (5 points) A warehouse inspector randomly selects an appliance. What is the probability that the appliance is from plant B and not defective?

b)   (5 points) What is the probability that a randomly selected appliance is not defective?

c)  (5 points) Suppose an appliance is not defective. What is the probability that it came from plant A?

The following data is exa score and hours looking at social media in that week of the exa from a sample of 10 students.

a)  (3 points) Using the IQR rule, are there any outliers for the exa scores? If so write down the number(s).  Give the interval that defines the outliers.

b)  (4 points) Determine the correlation coefficient, r, between exa score and hours studied. Interpret what this number means.

c)  (3 points) Determine the least-square regression equation to predict exa scores based on hours studied.  

d)  (3 points) If a student studies for 5 hours what is the predicted exa score?

e) (3 points) Give the residual for student 2.

f)  (4 points) Give the coefficient of determination, , for this least-squares equation. Give the interpretation of this number.

Suppose a local restaurant has only four meals on the menu costing $4, $5, $8, and $10 . The probability distribution (pmf) is below, where X = cost of the meals.  

a)  (2 points)  Suppose a random customer orders a meal at this restaurant. What is the probability that the customer's meal will cost at least $8?

b)  (5 points) Find the expected value of the cost of the meal for a random customer.

c)  (5 points) Find the standard deviation of the cost of the meal for a random customer.

d)  (3 points) If the restaurant decided to add $5 more to each meal, what is the expected cost and standard deviation with the $5 added?

Mr. and Mrs. T. are naturalized Americans. They were born and raised in Japan and moved to the United States 20 years ago. Mrs. T. is 45 and teaches kindergarten. Mr. T. is 54 and runs an import store. Their son, Ritchie, 16 years old, was born in the United States. He is a sophomore in high school, where he plays baseball.

Mr. T. started having some chest pains 2 years ago and was diagnosed at the clinic with mild angina. He takes nitroglycerin (NTG) 0.3 mg SL when he feels any discomfort. His chest pain is usually exertion related. Lately, he has had to take the NTG more often. He has an appointment with the cardiologist next week.

The paramedics put an oxygen cannula on Mr. T. and start an IV in his left arm. They give him a baby aspirin to chew, contact the local hospital, and prepare Mr. T. for transport. Upon arrival in the ED, Mr. T.’s heart rate is 110 beats/min, and he is diaphoretic.

Mr. T. was quickly triaged in the ED with a preliminary diagnosis of acute inferior wall MI. The hospital is in a rural area, and the weather is severe. Ground transport to the nearest hospital able to do PCI is 2 hours. Therefore, a decision is made to administer thrombolytics. Within 1 hour, Mr. T. was started on reteplase.

One day after the thrombolytic therapy, Mr. T.’s cardiac rhythm suddenly dropped to 40 beats/min, and he became very dizzy and breathless.

One month after Mr. T.’s revascularization, he develops chest pain and visits the cardiologist. He is having T-wave changes in the anterior leads. He is referred to as the tertiary care center for additional testing. He undergoes cardiac catheterization and angiography, and a lesion of the left main coronary artery is found. He is scheduled for a CABG.

Mr. T. had the CABG. It was difficult to get Mr. T. weaned from the cardiopulmonary bypass machine. A decision was made to insert an Intra aortic balloon pump (IABP).

Mr. T. required the IABP for 24 hours, at which time it was weaned and removed. The remainder of his postoperative course was uneventful, and he was discharged home 6 days after surgery.

Answer the following questions:

Who has observed resuscitation efforts?

What observations were made?

What perceptions of care were noted?

Related to the case study in the cardiovascular lecture:

What nursing care was done prior to starting reteplase?

What is the nursing care associated with a patient receiving reteplase?

What complications must be assessed during and after the administration of the medication?

A city with 4% unemployment and no inflation is considering building a new stadium for its professional football team. The team currently plays in an old stadium owned by the city. It would cost city $500M (M for million) to demolish the old stadium and build a new one at the same location, which the city owns. The new stadium would be expected to last for 40 years and the city would finance the costs of the project by borrowing at 6% annual interest and paying $35M per year for 40 years for all expenses, including maintenance and debt repayment. About $300M of the demolition and construction cost would be spent on labor and materials supplied by city residents (referred to as locals). The team owner, who is not a local, would pay the city $3M per year rent. The owner’s company would sell tickets to games, parking, and concessions (food, drink, souvenirs, etc.) and keep the profits from those sales. Analysts estimate that if the stadium is built, the locals’ demand curve for tickets to the games will be linear each year, with a choke price of $240, and that locals will buy 100,000 tickets per year from the team owner’s company at an average price of $80 per ticket. Analysts estimate that outsiders who attend games will spend $20M per year on restaurants, hotels and other goods and services provided by city residents. Assume that the average profit rate of local businesses and local labor is 0.2 and that locals’ marginal propensity to consume local value added is 0.3. Except in part h, below, assume that the analysts’ estimates are correct. Except in part i, assume that the football team will leave the city if the new stadium is not built.

a.[10] Estimate the net generated income for the locals from the demolition of the old and construction of the new stadium alone, making reasonable assumptions about any other missing information. Explain all your steps. Translate this net generated income into annualized income for the residents at 6% annual interest.

b.[7] An economic impact analysis of the stadium project estimates that the demolition and construction alone would give the locals generated income of $600M (estimated to be the $300M spent on local value added times a multiplier of 2). List and explain the reasons why this “generated income” estimate is probably much higher than a reasonable estimate of the net generated income from the demolition and construction.

c.[6] Estimate the annual user benefit the locals would get from the project. Explain all your steps.

You are the manager of Compounders Ltd. The company mixes compound for smaller plastic extrusion companies. Compounders Ltd has six (6) mixing machines with a maximum capacity (100%) of 250 ton 250 ton per machine. However, due to power cuts, the machines are currently being operated at 75% of installed capacity. One (1) ton of a compound mixture consists of two (2) raw materials: 0.7 ton of Electrolyte and 0.3 ton of Copper Wire. Assume no wastage. There are no opening and closing inventories. All raw materials purchased are being used in the month of purchase, and all compound mixed are being sold in the month mixed. Each mixing machine requires two (2) operators. The company is operating a nine (9) hour shift and each machine operator earns R75 per hour. No weekend time nor overtime is allowed. The company is a price setter and the pricing policy is based on a mark-up of the total production cost at 50%. The company incurred the following costs for the month:

1. Import (purchase) raw material for one month’s production. Material Electrolyte @ R60 per ton and Copper Wire @ R95 per ton.

2. The import cost amount to R1,000 per 250 ton of Material Electrolyte and R1,500 per 120 ton of Copper wire.

3. Paid the wages based on a twenty (20) working days.

4. The factory foreman earns a salary of R15,000 per month.

5. The cost of security is as follows: Guard at the entrance of the factory R3,500 per month and the guard at the entrance to the admin offices R3,750 per month.

6. The monthly rental amounts to R25,000. Rent is allocated based on floor space occupied. The factory occupies 9,100 ??2 and the office block 3,900 ??2.

7. Office expenses amounts to R64,000 per month.

8. Compound delivery cost amount to R1,200 per 125 ton of compound delivered.

Required: 1.1 Calculate the selling price per ton of the compound mixture. Use the following table in your workings as marks will also be awarded for individual calculations. (Max 20 marks)

1.2 Calculate the variable cost per ton of the compound mixture and the total fixed cost. Use the following table in your workings as marks will also be awarded for individual calculations. (6)

1.3 Calculate the contribution per ton produced. (2)

1.4 Calculate the break-even tons to be mixed (2)

Common-Size and Rate of Change Analyses: McCormick

McCormick & Company, Inc. is one of the world's leading producers of spices, herbs, seasonings, condiments, and other flavorings for foods. Its products are sold to consumers, with some of the leading brands of spices and seasonings, as well as to industrial producers of foods. McCormick's consolidated balance sheets for 2012 and 2013 follow.

Required:

Compute the common-size balance sheet for 2013 and the rate of change balance sheet for 2013. Round your answers to one decimal place. Indicate decreasing percentages with a minus sign.

John Fleming, chief administrator for Valley View Hospital, is concerned about the costs for tests in the hospital’s lab. Charges for lab tests are consistently higher at Valley View than at other hospitals and have resulted in many complaints. Also, because of strict regulations on amounts reimbursed for lab tests, payments received from insurance companies and governmental units have not been high enough to cover lab costs. Mr. Fleming has asked you to evaluate costs in the hospital’s lab for the past month. The following information is available: Two types of tests are performed in the lab—blood tests and smears. During the past month, 1,800 blood tests and 2,400 smears were performed in the lab. Small glass plates are used in both types of tests. During the past month, the hospital purchased 12,000 plates at a cost of $56,400. 1,500 of these plates were unused at the end of the month; no plates were on hand at the beginning of the month. During the past month, 1,150 hours of labor time were recorded in the lab at a cost of $21,850. The lab’s variable overhead cost last month totaled $7,820. Valley View Hospital has never used standard costs. By searching industry literature, however, you have determined the following nationwide averages for hospital labs: Plates: Two plates are required per lab test. These plates cost $5.00 each and are disposed of after the test is completed. Labor: Each blood test should require 0.3 hours to complete, and each smear should require 0.15 hours to complete. The average cost of this lab time is $20 per hour. Overhead: Overhead cost is based on direct labor-hours. The average rate for variable overhead is $6 per hour. Required: 1. Compute a materials price variance for the plates purchased last month and a materials quantity variance for the plates used last month. 2. For labor cost in the lab: a. Compute a labor rate variance and a labor efficiency variance. b. In most hospitals, one-half of the workers in the lab are senior technicians and one-half are assistants. In an effort to reduce costs, Valley View Hospital employs only one-fourth senior technicians and three-fourths assistants. Would you recommend that this policy be continued? 3-a. Compute the variable overhead rate and efficiency variances. 3-b. Is there any relation between the variable overhead efficiency variance and the labor efficiency variance?

QUESTION 16

Analyse the data below related to days survival following surgery from either stomach or lung cancer. What is the result of the Kolmogorov–Smirnov test for the patients who survived stomach cancer?

QUESTION 17

Run an independent t-test on the data in Q16. A Levene’s test result of p = .006 was obtained. What can we infer from this number?

QUESTION 18

What is the correct result for the independent t-test you calculated in Q17?

QUESTION 19

Assume that for the research into stomach and lung cancer the significance value is set at p < .05 and an independent t-test yielded a significance value of p = .06. What should you do?

QUESTION 20

What is the effect size for the cancer survival data?

Use this extract taken from the article, “L-Glutamine changes gut bacteria leading to weight loss,” (appeared in Preventdisese.com on November 2, 2019) to answer the questions that follow:

L-Glutamine is the most common amino acid found in your muscles and it plays a key role in protein metabolism, and the ability to secrete human growth hormone, which helps metabolize body fat and support new muscle growth. Researchers have now found that a daily L-glutamine dose of 30 grams per day was associated with a significant reduction in the ratio of specific biomarkers for obesity. The 30g dose studied was associated with a significant reduction in the ratio of Firmicutes to Bacteroidetes in obese and overweight people. “The finding that L-glutamine promotes changes in the gut microbiota composition provides support for the importance of some nutrients in modulating the intestinal bacterial profile,” wrote the researchers in Nutrition. “These changes resembled the weight loss programs established in the literature”. A new study, albeit small scale and of limited duration, suggested that the amino acid L-glutamine may also have weight management potential by changing the bacterial composition in the gut. The Brazilian researchers did not observe any changes in body weight during their 14 day study, but noted that a longer intervention period “may result in metabolic changes”. The researchers recruited 33 overweight and obese adults, aged between 23 and 59 and randomly assigned them to receive supplements of L-glutamine or L-alanine for two weeks. A reduction of 0.3 was observed in the ratio of Firmicutes to Bacteroidetes in the L-glutamine group, they added (from 0.85 to 0.57), while L-alanine was associated with an increase from 0.91 to 1.12. “Thus, these findings suggest that oral supplementation of L-glutamine have similar effects on gut microbiota as weight loss,” said the researchers. “We would like to highlight that although the age range of the volunteers was large (23-59 years) and aging may have an effect on intestinal microbiota, the results obtained in this study were statistically significant”.

(a) Is the study by Brazilian researchers that was cited in this article observational or experimental? In less than 50 words clearly explain your choice based on the extract given above.

(b) Identify the variable(s) of interest.

(c) Explain explicitly what a confounding variable is. Identify one plausible confounding variable in this study, explain why it is a confounding variable and suggest a possible way to overcome the impact of the confounding variable.

(d) Is the conclusion from this particular study reflected in the title of the article appropriate? Justify your response.