According to a research​ institution, men spent an average of $132.69 on​ Valentine's Day gifts in 2009. Assume the standard deviation for this population is $45 and that it is normally distributed. A random sample of 10 men who celebrate​ Valentine's Day was selected. Complete parts a through e.

a. Calculate the standard error of the mean.

sigma Subscript x σx=

​(Round to two decimal places as​ needed.)

b. What is the probability that the sample mean will be less than $130?

P(x<$130)=

​(Round to four decimal places as​ needed.)

c. What is the probability that the sample mean will be more than $140?

P(x>$140)=

​(Round to four decimal places as​ needed.)

d. What is the probability that the sample mean will be between $120 and $165?

(P$120≤x≤$165)=

​(Round to four decimal places as​ needed.)

e. Identify the symmetrical interval that includes​ 95% of the sample means if the true population mean is

​$132.69.

$___≤ x ≤​ $___

(Round to the nearest dollar as​ needed.)

Consider a simple economy that produces two goods: pencils and muffins. The following table shows the prices and quantities of the goods over a three-year period.

From 2019 to 2020, nominal GDP   , and real GDP   .

The inflation rate in 2020 was   .

Why is real GDP a more accurate measure of an economy's production than nominal GDP?

Real GDP is not influenced by price changes, but nominal GDP is.

Real GDP does not include the value of intermediate goods and services, but nominal GDP does.

Real GDP measures the value of the goods and services an economy produces, but nominal GDP measures the value of the goods and services an economy consumes.

The Super-warm Company produces two electric heaters (products A and B) that require both heating elements and electrical components. The owner currently determines how many units of each product to be produced so as to maximize the profit. For each unit of product A, 3 units of heating elements and 1 unit of electrical components are required. For each unit of product B, 1 unit of heating elements and 2 units of electrical components are required. The company has 750 units of heating elements and 600 units of electrical components. Each unit of product A, up to 130 units, gives a profit of $30, and each unit of product B gives a profit of $20. Any excess over 130 units of product A brings no extra profit, so such an excess has been ruled out.

a) Formulate a Linear Programming model for this problem.

b) Use the graphical method to solve this model. What is maximum total profit?

1.    What is an F ratio and how is it calculated?

2.    If SS_between = 30, SS_within = 40, df_between = 3, and df_within = 20, then F = ______.

3.    If df_between = 3, and df_within = 60, if alpha is set at .05, then F_crit =______.

4.    If the sample size is 30 and the mean score for group one is 5.6, mean score for group two is 7.8, and mean score for group three is 4.8, what is the SS between of this study?

Determine the sampling method used in the following scenarios and state whether it is generally biased, or generally unbiased. If a method is generally biased give a reason why it may be biased. a. A factory uses three machines to make a product and the output follows a pattern of Machine 1, Machine 2, Machine 3, Machine 1, … To collect a sample one of the first three products in the line is selected and then every 10th product is selected. b. In order to complete an assignment in a statistics class, a student surveys 15 of their friends. c. A sports talk show posts a poll on their website on the topic they are discussing that day. d. In a clinical trial an independent company is hired to administer a drug trial. 100 people are selected to participate in the trial and split into two groups of 50. One group of 50 is given the medication, and the other 50 are given sugar pills (placebo). The participants and the person administering the “medication” do not know if they are in the test group, or the placebo group.

Kempton owns a plumbing repair service company that has been in business for thirty years in Shreveport Louisiana (population 198,675). The company employs 50 repairmen and repairwomen that work in two person teams doing plumbing repair jobs. Kempton’s son Myron is going to be taking over the business and has lots of ideas about improving incentives. Equipped with what he has learned in the MBA program at LSU, he has established that (1) customer satisfaction, (2) capacity utilization (the plumbing repair service people need to be working when they are on the clock) and (3) the profit margin of the service (some repairs involve more parts than others and the mark up the customers on the parts is high) are the company’s profit drivers.

Myron has decided to implement a program where the plumber’s bonuses are based on a formula that has 40% weight on customer satisfaction (measured by post-service customer satisfaction surveys), 30% weight on capacity utilization (measured by number of jobs completed) and 30% weight on profit margin (measured by number of high mark-up jobs completed).

Explain to Myron why, while he would like to see improvements in the plumbers’ performance on all three dimensions, he is more likely to see significant improvement on one dimension and little or no improvement on the other two dimensions.

Question 4

Suppose Joey holds a share of SCB common stock, currently valued at $48. She is concerned that over the next few months the value of her holding might decline and she would like to hedge that risk by supplementing her holding with one of the following two option positions, all of which expire at the same point in the future.

a. Complete a table similar to the following for each of the following positions:

i. A long position in a put option with an exercise price of $45 and a premium of $2.

ii. A short position in a call option with an exercise price of $45 and a premium of $4.

b. Graph the combined terminal position value for each of the above hedged positions, using combined terminal position value on the vertical axis (Y) and SCB’s expiration date stock price on the horizontal axis (X).

c. Explain which of the two hedging strategies mentioned above is better if Joey’s objective is also to enjoy the upside gain of the stock.

NO Chart was provided.

Spectre Chemicals produces Canovic in a two-department process. Information on the two departments for March and April 2016 are as follows:

MARCH 2016:

Department 1: The Company had beginning inventory of 6,000 units, 40% completed with a cost of $45,000. During the month, the department transferred in 22,000 units of the direct materials with a cost of $10 per unit. Ending inventory was 7,000 units, 30% completed. Direct labor is $310,500 and factory overhead is $103,500.

Department 2: The Company had beginning inventory of 5,000 units, 70% completed with a cost of $80,000. During the month, direct labor was $175,000 and factory overhead was $87,500. Ending inventory was 10,000 units, 50% completed.

APRIL 2016:

Department 1: During the month, the department transferred in 20,000 units of the direct materials with a cost of $11 per unit. Direct labor is $209,000 and factory overhead is $104,500. Ending inventory is 10,000 units 60% completed.

Department 2: During the month, direct labor is $175,000 and factory overhead is $87,500. The company had ending inventory of 5,000 units, 70% completed with a cost of $80,000. Required:

-Compute the Equivalent Units of Production, Material costs, and Conversion costs for each department for March and April 2014.

-Complete the attached chart – one for each department and each month.

-Prepare a cost of production report for March and April 2014.

You work for a bank that has a program with a dependency of the account class. Unfortunately the hard drive that contained the source code for the account class went bad and no backup can be found. Obviously, this means you bank needs to address this issue. However, your task is to recreate the account class. The good news is that your company was able to locate a tester of the account class and one helper function to output the class. Using these two files, you should be able to re-engineer account.h and account.cpp to work as originally designed.

Implement the account class.

main.cpp:

#include <iostream>
#include "account.h"
#include "account_output.h"
using namespace std;
using namespace DS;

int main() {

    cout << "Account Tester" << std::endl;

    //Create an account with 3.0% interest rate
    account savings(0.03);
    //Deposit one dollar
    savings.deposit(1.00);
    //Account should have exactly $1 in it
    cout << savings << endl;

    //Move up a week
    savings.advanceDay(7);
    cout << savings << endl;

    //Deposit $450.55
    savings.deposit(450.55);
    cout << savings << endl;

    //Move up 23 days, should see our first compound
    //However, the average balance not 451.55, since the balance was $1 for 7 of the 30 days
    savings.advanceDay(23);
    cout << savings << endl;

    //Advance a bunch with balance unchanged, two compoudings happen
    savings.advanceDay(65);
    cout << savings << endl;

    //Deposit more
    savings.deposit(1000);
    cout << savings << endl;

    //Advance a bunch with balance unchanged, at least two more interest calculations
    savings.advanceDay(65);
    cout << savings << endl;

    //Will not mutate object, amount must be > 0
    savings.deposit(-1000);
    cout << savings << endl;

    //Will not mutate object, amount must be > 0
    savings.withdraw(-1000);
    cout << savings << endl;

    //Will not mutate object, amount must < balance
    savings.withdraw(-10000);
    cout << savings << endl;

    //lower balance by 50
    savings.withdraw(50);
    cout << savings << endl;

    savings.advanceDay(30);
    cout << savings << endl;

    return 0;
}

account_output.h: Overload of the << operator to display the balance and week number.

#ifndef PROJECT_SAVINGS_ACCOUNT_OUTPUT_H
#define PROJECT_SAVINGS_ACCOUNT_OUTPUT_H

#include <ostream>
#include <iomanip>

namespace DS {
    //Precondition: None
    //Postcondition: Output to stream, in the format of
    // day: DAYNUM, balance: $x.xx
    std::ostream &operator<<(std::ostream &, const account &);

    std::ostream &operator<<(std::ostream &os, const account &account) {
        os << "day: "
            << account.getDayNumber()
            << ", balance: $"
            << std::fixed
            << std::setprecision(2)
            << account.getBalance();
        return os;
    }
}
#endif

Due 09/17/2019 11:59pm