For each of the following situations,
a) (1 pt) What is/are the population(s) in the study?
b) (2 pts) Does the scenario involve 1 or 2 parameters to be
estimated/tested/compared?
c) (3 pts) What is/are the parameter(s) to be estimated/tested/compared?
Be specific and use the appropriate notation.
d) (2 pts) What is/are the variable(s) involved. Is each numerical or
categorical?
e) (1 or 3 pts) Is it most appropriate to create a confidence interval or conduct
a hypothesis test? If a hypothesis test should be conducted, state the
hypotheses.
f) (2 pts) Will the critical value or test statistic be a z-value or t-value?
1. A farmer is wondering if the drought has affected the growth of his tomatoes
and wants to estimate the post-drought mean weight. He takes a random sample
of 40 tomatoes and measures the weight of each.
2. A survey of 1,000 Americans surveyed found that 45% have a will specifying the
handling of their estate after their death and that 64% currently own a home.
The researcher wishes to estimate the difference in the population proportions.
3. In 2000, a sample of 209 people aged 18-30 found that they spent an average of
6.75 hrs/week on the internet. In 2006, a sample of 541 people aged 18-30 spent
an average of 7.34 hrs/week on the internet. Has the average increased?
4. In a random sample of 1,500 patients who were admitted to the hospital this
year for pneumonia, 145 of them were under the age of 18. Three years ago, 12.3%
of pneumonia patients were under the age of 18.

On March 1, Sather Co. sold merchandise to Boone Co. on account, $29,800, terms 2/15, n/30. The cost of the merchandise sold is $18,300. The merchandise was paid for on March 14.

Journalize the entries for Sather Co. and Boone Co. for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.

Chart of Accounts-Sather Co.

Chart of Accounts-Boone Co.

Journal-Sather Co.

Journalize the entries for Sather Co. for the sale on March 1 and payment of the amount due on March 14. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.

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JOURNAL

Journal-Boone Co.

Journalize the entries for Boone Co. for the purchase on March 1 and payment of the amount due on March 14. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.

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JOURNAL

Credit Risk Management Credit

Risk Management Policy To achieve sustainable growth, our credit strategy focuses on a balance between portfolio value creation and protection within our risk appetite. Portfolio management, credit policy and related credit procedures must comply with this strategy and must be in line with the Bank of Thailand’s regulatory requirements, the government’s policy adjustment and the plan that focuses on United Nations Sustainable Development Goals (SDGs), including how to cope with climate change, that may affect business operations in terms of risk and business opportunity. KBank reviewed credit risk management policy, both in terms of credit risk and impacts on the environment and society, including the launch of new products and services in different circumstances, to ensure that our business operations are in compliance with relevant standards, accommodating changes in credit quality and sustainable growth of KBank. Such revisions were monitored for their impacts on portfolios, and updated for reference in KBank’s database available to relevant users covering criteria for credit granting, management and credit risk management tools.

Credit Risk Management Process A credit risk management process, from portfolio management to recovery and collection, has been established and continuously enhanced to appropriately reflect risk involved, as well as promote business capability.

Portfolio Management KBank emphasized active portfolio management corresponding to prevailing circumstances, particularly economic factors that could affect our customers and our portfolio quality. Via Active Credit Portfolio Management (ACPM) and stress testing, KBank ensured timely portfolio management towards any deviation against our planned targets. Meanwhile, KBank has also focused on portfolio management so as to control credit concentration within the established limits. Close monitoring of customer risk profile across industries was undertaken through the establishment of loan growth target in alignment with prevailing economic conditions, taking into account customer segments, product domains and industry outlooks, to maximize returns from each customer segment portfolio under defined risk appetite. KBank adopted credit risk management mechanisms as follows: • Set up Credit Risk Management Sub-committee and Credit Process Management Sub-committee. The committee managed a balance between credit risks and process efficiency to ensure effective risk management and consistency of relevant credit processes, thus allowing KBank to deliver a good customer experience. • Revise customer screening criteria on a regular basis to reflect customer risk profile. Credit policy has been tailored for each customer segment. Industry pre-screening criteria, which can be used as a guideline for customer selection, have been established to classify customers based on sector risk levels. • Establish risk management mechanism in response to risk events which may affect our customers. Early warning sign monitoring will trigger actions of responsible departments to assess impacts on affected customers and KBank by conducting in-depth analysis and stress testing. Thus, KBank shall be able to proactively prevent and solve any problems which may arise in a timely manner prior to deterioration of customers’ debt servicing capability and overall credit quality of KBank. • Monitor customers’ credit line utilization and customer status via early warning signs. Guidance has been provided for Relationship Managers (RMs) to contact customers at an early stage when early warning signs are detected. • Manage credit concentration risk in terms of borrower group concentration, sectoral concentration and country concentration. Credit exposures are maintained within predetermined limits, per the Bank of Thailand’s guidelines.

• Credit Underwriting and Approval KBank has formulated lending policy to ensure uniformity of good credit underwriting practices and comply with the Bank of Thailand’s consolidated supervision guidelines. Guidelines for preferable and discouraged practices are also defined to ensure quality of credit extension. KBank’s credit risk management is based on current, transparent and qualified data. The credit approval processes and systems are designed to align with customers’ characteristics. Medium and Large Business customers with sophisticated financial needs are served by Relationship Managers (RMs) with thorough understanding of customers’ business and financial profiles. RMs are responsible for analyzing and proposing suitable credit products and services to match customer needs, presenting credit proposal to credit underwriters according to the defined approval authorities, and continual monitoring customer status. For retail customers whose main products comprise home loans, credit cards and other types of financing, including loans for small and micro businesses, KBank deploys credit scoring as a credit approval tool, focusing on verification of income and liability information of each customer. KBank has also focused efforts on credit approval process improvement, while ensuring risk levels under a defined risk appetite. Aside from the above practices, KBank realizes the importance of responsibility toward society and the environment in our credit underwriting. Guidelines and policies for environmental and social impacts have been established for project finance requests at home and abroad, including project monitoring throughout the credit term. • Post-Credit Approval Operations To achieve standardized and efficient credit operations, KBank has centralized credit operations covering legal and contract-related arrangement, preparation of collateral agreements, credit limit setup, credit disbursement, creditrelated document storage and credit data support. KBank also set up processes to monitor customer credit-utilization behavior, business performance, compliance with contractual conditions as well as their debt servicing ability.

Please analyze credit risk of Kbank. around 300 words thanks

Ramesh lives two periods. His earnings in the present are 100; in the future they are 75.6. The interest rate is 8 percent.

(a) Suppose that Ramesh's earnings are subject to a 25 percent tax. Suppose also that interest earnings are taxed at the same rate and interest paid is tax deductible. Using our life-cycle model, show that this tax generates an excess burden.

(b) Suppose now that interest payments are not tax deductible. Does this tax generate an excess burden if Ramesh is a borrower?

(c) Now assume the tax in part a is scrapped in favor of a consumption tax. What consumption tax rate would yield the same tax revenue? Does this tax distort the choice between present and future consumption?

(d) Now assume the consumption tax in part c is instituted, but the deduction of interest payments remains. Does this tax distort the choice between present and future consumption?

Short Answer Question

CBA fined $5m for overcharging farmers Australian financial review Jun 5, 2020 – 4.20pm Commonwealth Bank has been ordered to pay a $5 million penalty by the Federal Court, which found its inadequate systems led to thousands of farming customers being overcharged. ASIC deputy chairman Daniel Crennan, QC: "Entities ought to make admissions and engage in the penalties process at the earliest possible opportunity." The court found the overcharging, which amounted to $8 million, breached the bank's duty to provide services "efficiently, honestly and fairly". The blunder, which affected 8600 customers over a decade to 2015, was examined in the Hayne royal commission. CBA admitted to the misconduct when ASIC filed the case in March. "What happened can be attributed, at least in part, to the inadequacy of CBA's 'control environment','' Kenneth Hayne said in his final report. "The errors were not prevented or detected by the bank's risk management systems." ASIC deputy chairman Daniel Crennan, QC, said on Friday that the regulator expected banks, in appropriate circumstances, "to make admissions and engage in the penalties process at the earliest possible opportunity" when ASIC sued them. It is the second court judgment following case studies in the Hayne royal commission, after former NAB branch manager Mathew Alwan was found guilty of making false and misleading statements in connection with NAB’s introducer program and sentenced in November to a year of home detention. The latest case involved CBA selling customers a so-called AA+ Package, which entitled them to benefits including fee waivers, interest rate discounts and bonus interest on savings. But the bank failed to maintain systems and processes to ensure these benefits could be provided, and 8659 customers were affected on 131,542 occasions, ASIC said. ASIC argued CBA's systems, which should have checked whether the product's benefits were actually being provided to customers, were highly manual and the bank lacked systems and processes to check whether the benefits offered were actually being received. ASIC and CBA agree on two Hayne prosecutions The court found this amounted to a breach by CBA of its obligation in section 912A of the Corporations Act to do everything necessary to ensure its financial services are provided efficiently, honestly and fairly. It also found additional breaches of similar parts of the ASIC Act. The small penalty reflected the "very substantial mitigating circumstances", the court said, including that the conduct was not deliberate, and that CBA compensated all customers. CBA chief executive Matt Comyn previously apologised to the AgriAdvantage customers, saying the bank closed the product at the end of 2015. "We have sent refunds of approximately $8 million [including interest]," he said in March. "Failures of this sort are unacceptable."

Reflect upon the case study provided, applying Toffler’s three business ethics principles. In each case name the principle and briefly explain it and give an example(s) from the case study where you believe each principle might be breached.

Reggie is a self-employed taxpayer who turns 59 years old at the end of the year (2018). In 2018, his net Schedule C income was $300,000. This was his only source of income. This year, Reggie is considering setting up a retirement plan. What is the maximum amount he may contribute to the self-employed plan in each of the following situations?

a. He sets up a SEP IRA.

b. He sets up an individual 401(k).

Hope is a self-employed taxpayer who turns 54 years old at the end of the year (2018). In 2018, her net Schedule C income was $130,000. This was her only source of income. This year, Hope is considering setting up a retirement plan. What is the maximum amount Hope may contribute to the self-employed plan in each of the following situations? a. She sets up a SEP IRA. b. She sets up an individual 401(k).

A study was designed to measure the effect of home environments on academic achievement of 12 year old students. Because genetic differences may contribute, the researcher controlled for this factor. 30 sets of twins were studied where 1 was in a home where academics were emphasized (Academic) and the other twin was placed in home where it was not emphasized (nonacademic). The final grades for 60 students were measured. Is this example an independent paired t-test or a dependent paired t-test?

As a team member, what values do you adopt that may support or impede your team's function? Consider the values you contribute when you are on a team. How does consensus building (effectively or ineffectively) facilitate or impede team function?

Think of a scenario you (or someone you know) experienced as a member of an ineffective team. Address the following issues in your answer
How would you incorporate biblical principles to effectively facilitate team function?

Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2018). In 2018, her net Schedule C income was $268,000. This was her only source of income. This year, Rita is considering setting up a retirement plan.

What is the maximum amount Rita may contribute to the self-employed plan in each of the following situations?

a. She sets up a SEP IRA.

b.. She sets up an individual 401(k).