In: Statistics and Probability
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time during a week. A sample of 18 watches provided the following gains (+) or losses (−) in seconds per week.
Data File
| −0.29 | −0.17 | −0.41 | −0.37 | 0.34 | −0.23 | 0.3 | 0.23 | −0.12 |
| −0.33 | −0.49 | −0.50 | −0.51 | −0.64 | −0.07 | −0.23 | −0.77 | 0.05 |
a)State the null hypothesis and the alternate hypothesis. State the decision rule for 0.02 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)
b)Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)
c)Is it reasonable to conclude that the mean gain or loss in time for the watches is 0? Use the 0.02 significance level.
d)Estimate the p-value.
In: Math
1.
a. A researcher wishes to estimate the proportion of adults who have high-speed Internet access. What size sample should be obtained if she wishes the estimate to be within 0.3 with 99% confidence?
b.
it is believed that people prefer rubies over other gems. In a recent simple random survey of 150 people, 63 said they would prefer a ruby over other gems. Use this sample data to complete a hypothesis test to determine if a majority of people would prefer a ruby. over other gems at the 0.01 significance level.
Be sure to include all the steps for a complete hypothesis test - start and end in context, test conditions, show formulas and numbers used, clearly state REJECT or FAIL TO reject.
c.
If 12 jurors are randomly selected from a population that is 45% Hispanic, what is the probability that 2 or fewer jurors will be Hispanic?
In: Math
Orland Restaurants Inc. reports the following comprehensive income in its 2016 consolidated financial statements ($ in millions):
|
Comprehensive income: |
|
|
Net earnings |
$576.7 |
|
Other comprehensive income (loss): |
|
|
Foreign currency adjustment |
(0.3) |
|
Change in fair value of marketable securities net of tax |
(8.4) |
|
Change in fair value of derivatives, net of tax |
(6.6) |
|
Net unamortized gain (loss) arising during period, including amortization of unrecognized net actuarial loss, net of taxes |
25.6 |
|
Other comprehensive income (loss) |
10.3 |
|
Total comprehensive income |
$587.0 |
In: Accounting
Case 1-1
LOCATION: Inpatient, Hospital
PATIENT: Mike Bahs
ATTENDING PHYSICIAN: Loren White, MD CONSULTANT: Timothy Pleasant, MD
REASON FOR CONSULTATION: Rule out neck injury.
HISTORY: This patient is a 17-year-old male who was involved in a motor vehicle accident last night. He remembers driving down the road and the next thing he remembers was trying to reach for his cell phone at a stop sign after the accident. He does not remember any of the details. The car apparently went off the road and hit a tree. The patient is amnesiac for the event but does not believe he lost consciousness. His vehicle was apparently traveling 35-40 miles an hour. There was no report that he was ejected from the vehicle.
PAST MEDICAL HISTORY: He had childhood asthma.
MEDICATIONS: None.
ALLERGIES: None.
FAMILY HISTORY: Noncontributory to the present problem. SOCIAL HISTORY: He chews tobacco. Alcohol use is rare.
EXAMINATION: Vital signs show he is afebrile. Pulse 64. Blood pressure 110/50. Neurologic: He is awake, alert, and fully oriented. His cranial nerves are grossly intact. HEENT: His extraocular movements are full. His eyes are conjugate. His pupils are equal. His facial strength is intact. On motor examination, he has grossly normal motor strength bilaterally in the upper and lower extremities. His reflexes are normal and symmetric at the biceps, triceps, and brachioradialis. The ankle jerks and the knee jerks are normal and symmetric. Gait is not tested. Sensory examination is grossly intact to light touch. Spine examination: The patient’s cervical collar was removed. He has no tenderness to palpation of the cervical spine whatsoever.
The x-rays of the cervical spine, as well as the CT scan of the cervical spine, were reviewed. No fractures or subluxations are noted. CT scan of the head was reviewed, and it is negative for any intracranial pathology.
IMPRESSION/PLAN: In summary, we have a 17-year-old male involved in a motor vehicle accident. He has a mild concussive head injury, as evidenced by his amnesia, and I believe he did lose consciousness for a brief period; however, the exact amount of time for his loss of consciousness is unknown. There is no evidence of any cervical spine injury. The patient is neurologically normal. He does not need to wear a cervical collar. I explained to him and his
mother, Gloria, that if the patient develops any weakness, numbness, or tingling in the arms or legs, trouble with his balance, sleepiness, vomiting, weakness of one side of the body, or any other symptoms, they should call their physician immediately.
I want to thank Dr. White for asking me to see this patient.
CPT Code(s): _________________
ICD-10-CM Code(s): ________________
Abstracting Questions:
1. What items of Review of Systems (ROS) were documented?
2. Under what report heading(s) would the ROS be found?
3. Was the patient the driver or passenger in the motor vehicle?
In: Nursing
Write a short conclusion about this article
Lucid is among a wave of electric-vehicle startups getting closer to releasing their first models, looking to challenge traditional auto makers like General Motors Co. and Volkswagen AG that are investing billions in the technology and Tesla Inc., a company that continues to dominate the scene for high-price battery-powered cars.
Backed by Saudi Arabia’s sovereign-wealth fund, Lucid is taking aim at the luxury end of the market with the Air, hoping to not only carve into Tesla’s market share but also attract more conventional sedan buyers from BMW AG, Daimler AG ’s Mercedes-Benz and other premium brands, its executives say.
Chief Executive Peter Rawlinson said that based on the company’s own testing, the priciest Air is expected to deliver a battery range of more than 500 miles, a distance that would beat current competitors, including the longest-range version of the Tesla Model S. The Environmental Protection Agency hasn’t certified that range yet.
The first, fully loaded four-door Air will start around $160,000 after factoring in federal subsidies. The company will release cheaper versions throughout the year with a roughly $70,000 version coming in 2022.
Like Tesla, Lucid plans to sell its models directly to customers, bypassing the traditional dealership network, and expects to open a new retail and service location in Beverly Hills, Calif. later this month.
Mr. Rawlinson said that while there have been pricier electric models released in recent years, Tesla still holds a commanding lead and there is room for more competition.
“We see just how far ahead Tesla is,” he said. “They are five years or more ahead of everyone else, and the shock is the gap is not being closed. The gap is growing as we speak.”
The Lucid Air makes its debut as tougher auto-emissions regulations are pushing car makers to add more battery-powered models to their lineups, and investors, excited by Tesla’s recent stock market success, are pouring money into the technology. Tesla’s market value has nearly quadrupled this year, making it the world’s most valuable auto maker ahead of GM, Toyota Motor Corp. and Volkswagen.
The Air also arrives as the marketplace for electric cars is expected to become increasingly crowded in the coming years, with dozens of new plug-in models planned, including many aimed at wealthier buyers. Investors are excited by the startups, several of which went public this year and have seen their valuations soar.
Some upstarts, like Rivian Automotive LLC and Nikola Corp. are choosing to align with traditional auto makers that have deeper pockets and the car-manufacturing expertise to help them realize their plans. This week, GM said it would take an 11% stake in Nikola, a maker of electric and hydrogen fuel trucks, in exchange for helping it to engineer and build its first model.
In: Finance
In January 2009, Tom Sosa, the purchasing manager, received a telephone call from their Columbus, Indiana, diesel engine supplier informing him that effective June they were no longer producing the D-342 diesel engines at the Columbus plant. The D-342 engine sales were decreasing and would no longer be in their product line. Tom was in shock. He was now forced to deal with the sole supplier of the D-342 located in Portland, Oregon. The most recent price schedule submitted by the Oregon engine supplier is given below:
| Units per Order | Unit Price |
| Less than or equal to 100 | $ 4,800 |
| Between 100 and 200 | 4,700 |
| Greater than 200 | 4,550 |
The prices had been basically the same as the Columbus supplier except that they are F.O.B. Portland. The traffic department informed Tom that the transportation cost per hundredweight is $10 for carload lots of 50,000 pounds. The less than carload rate is $15 per hundredweight. The replenishment cycle normally takes one week.
BACKGROUND
Tom Sosa, the supply manager for MARS, Inc. was contemplating several significant changes in the D-342 diesel engine market. Mr. Sosa was concerned because in its production of the 98-D loader, MARS used 10 diesel engines each working day of the month. (MARS operated on a 20-day-per-month schedule.) Each engine weighs 500 pounds. Engine orders are currently placed every Monday morning. For the past 10 years, the D-342 engines had been produced in only two locations in the United States, one in Columbus, Indiana, and the other in Portland, Oregon. Mr. Sosa felt fortunate that the Columbus producer was located approximately 30 miles from his facility. The Columbus supplier offered just-in-time delivery service at no charge to MARS.
MARS implemented lean manufacturing in 2002. The kanban-controlled JIT production system was implemented based on the premise of minimizing work-in-process inventories (waste) by reducing lot sizes in order to increase production efficiency and product quality.
ACTION TAKEN BY TOM
Mr. Sosa compiled cost and warehouse capacity data on the D-342 engine from the accounting department. See Table C17.1.
Mr. Sosa wonders what effects these new developments will have on his cost structure.
Assignment Questions
1. What were MARS’s total costs per year prior to the new price structure when the diesel engine price was $4,800? Was MARS using the EOQ method?
TABLE C17.1
Cost and Warehouse Capacity
| Cost of unloading engines into warehouse | $0.25 (per 100/wt) |
| Order processing cost per requisition | $100 |
| Warehouse capacity | 200 units |
| Outside warehouse costs | $39 per year per unit* |
| Expediting cost per requisition | $50 |
| Inventory carrying cost | 38% |
2. With volume discounts and warehouse constraints, what is the best ordering quantity?
In: Operations Management
“It's company policy”
Let's look at a real case where one party used positional bargaining and the other principled negotiation. Tom, one of our colleagues, had his parked car totally destroyed by a dump truck. The car was covered by insurance, but the exact amount Tom could recover remained for him to work out with the insurance adjuster.
INSURANCE ADJUSTER
A=We have studied your case and we have decided the policy applies. That means you're entitled to a settlement of $3,300.
B=I see. How did you reach that figure?
A=That's how much we decided the car was worth.
B=I understand, but what standard did you use to determine that amount? Do you know where I can buy a comparable car for that much?
A=How much are you asking for?
B=Whatever I'm entitled to under the policy. I found a secondhand car just about like it for $3,850. Adding the sales and excise tax, it would come to about $4,000.
A=4,000! That's too much!
B=I'm not asking for $4,000 or $3,000 or $5,000, but for fair compensation. Do you agree that it's only fair I get enough to replace the car?
A=OK, I'll offer you $3,500 That's the highest I can go. Company policy.
B=How does the company figure that?
A=Look, $3,500 is all you'll get. Take it or leave it.
B=$3,500 may be fair. I don't know. I certainly understand your position if you're bound by company policy. But unless you can state objectively why that amount is what I'm entitled to, I think I'll do better in court. Why don't we study the matter and talk again? Is Wednesday at eleven a good time to talk?
A=OK, Mr. Griffith, I've got an ad here in today's paper offering a '89 Taurus for $6,800.
B=I see. What does it say about the mileage?
A=49,000. Why?
B=Because mine only had 25,000 miles. How many dollars does that increase the worth in your book?
A=Let me see ... $450.
B=Assuming the $6,800 as one possible base, that brings the figure to $7,250. Does the ad say anything about a radio?
A=NO.
B=HOW much extra for that in your book?
A=$125.
B=How much for air conditioning?
A half-hour later Tom walked out with a check for $8,024.
1-In the case of "It's company policy" , how did Tom apply the principle of "suggesting a joint search for objective criteria and open to reason" in his negotiation with the insurance adjuster?
2-In the case of "It's company policy" , how did Tom apply the principle of "using fair standards" in his negotiation with the insurance adjuster?
3-In the case of "It's company policy" , how did Tom apply the principle of "not yielding to pressure" in his negotiation with the insurance adjuster?
In: Operations Management
In: Accounting
Choose the proper statistical technique to use for each scenario from the list below.
A. One sample test for a mean
B. One sample test for a proportion
C. Two sample test for means- independent
D. Two sample test for means – paired
E. Two sample test for proportions
F. Chi square test of independence
G. Chi square test for homogeneity of proportions
H. One Way Analysis of Variance
I. Correlation
J. Simple regression
K. Multiple regression
L. Time series forecasting.
1. What is the statistical technique if you want to predict stock ownership (number of shares) based upon annual income?
2. A study has been carried out to determine if there is a difference in the average dollar contributions made by clerical workers at three different firms.
3. AAA wants to determine EPA mileage ratings of new cars based upon their weight and whether they are standard or automatic transmission.
4. According to the ICR Research Group, 63% of Americans in the 18-34 age group say they are comfortable filing income tax returns electronically, compared to just 49% of those 55-64. They sampled 200 people from each age group to determine if the younger set were more comfortable with electronic filing than those in the older group.
5. It has been reported that the average visitor from Japan spent $1953 during a trip to the United States, while the average for a visitor from the United Kingdom was $1738. Does the visitor from the United Kingdom spend significantly higher than a visitor from Japan?
6. One of the measures of the effectiveness of a stimulus is how much the viewers pulse rate increases on exposure to it. In testing a lively music theme for its television commercials, an advertising agency shows ads with the new music to 25 viewers and their mean pulse rate is 20.5 beats per minute while the mean pulse rate per minute for another sample of 25 viewers seeing the same ads with the old music was 16.9 beats per minute. Is the new music theme better?
7. A trucking firm is considering the installation of a new, low restriction engine air filter for its long-haul trucks, but doesn’t want to make the switch unless the new filter can be shown to improve the fuel economy (miles per gallon) of these vehicles. A test is set up so that each of 10 trucks makes the same run twice- once with the old filtration system and once with the new version.
8. A movie complex has a sellout for three movies rated G, PG, and R that they show simultaneously on a Friday evening. A sample of patrons from each movie is observed to determine if they purchase snacks or do not. Could the percentage buying snacks be the same for each movie?
In: Statistics and Probability