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Get college assignment help at uniessay writers Dan Lanier is a certified public accountant (CPA)and staff accountant baker and Lin, a local CPA firm. It had been the policy of the firm to provide a holiday bonus equal to two weeks salary to all employees. The firm’s new management team announced on November 25 that a bonus equal to only one week’s salary would be made available to employees this years. Dan thought that this policy was unfair because he and his co-workers planned on the full two-weeks bonus. The two- weeks bonus had been given for 10 straight years, so it seemed as thought the firm had breached implied commitment. Thus, Dan decided that he would make up the lost bonus by working extra six hours of overtime per week over the next five weeks until the end of the year. Baker and lin’s policy is to pay overtime 150% of straight time. Dan’s supervisor was surprised to see overtime being reported, since generally very little additional or unusual clients service demands at the end of the calendar year. However, the overtime was not questioned, since the firm employee are on the “honor system” in reporting their overtime. Discuss whether the firm is acting in an ethical manner by changing the bonus. Is Dan behaving in an ethical manner?

I have attached my answers but need them to be more conphrehensive . The teeacher is asking for 2 to 3 paragraphs. Help? Please answer the following questions in detail. Each question should be answered in 2-3 paragraphs. 1. Under what conditions should you use the ÷2 (chi-square) test to determine whether there is a difference between proportions of two independent populations? 2. Under what conditions should you use the ÷2 test to determine whether there is a difference between the proportions of more than two independent populations? 3. Under what conditions should you use the ÷2 test of independence? 4. Under what conditions should you use the McNemar test? 5. What is a nonparametric procedure? Describe specifically when you would utilize a nonparametric test. 6. Under what conditions should you use the Wilcoxon sum rank test? 7. Under what conditions should you use the Kruskal-Wallis rank test?

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The salary of newly graduated students with bachelor’s degrees in civil engineering has a certain distribution with expected value $52,600, and standard deviation of $4,200. Approximate the probability that the average salary of a random sample of 35 recently graduated civil engineers exceeds $54,000.

4. A certain component is critical to the operation of a construction machine and must be replaced immediately upon failure. If the mean lifetime of this type of component is 100 hours and its standard deviation is 30 hours, how many of the components must be in stock so that the probability that the construction machine is in continuous operation for the next 5000 hours is at least 0.95?

1. Write a short report explaining the optimal solution (include all the information that you consider relevant) 2. The managers of the company consider that the shipping cost of the route Juarez-New York can be reduced to $5. Would this reduction change the optimal strategy? And the overall cost? 3. The plant in Tel Aviv could increase the production capacity to 250 units with a fixed cost of $300. Would it be worth to increase the capacity? 4. If you could increase the production capacity in one of the plants of your choice. Which one would be the best? Why?

an auto manufacturer chooses one car from each hour’s production for a detailed quality inspection. One variable recorded is the count X of finish defects (dimples, ripples, etc) in the car’s paint. Is it reasonable to use a binomial distribution?

“1. Write a short report (60 words) explaining the optimal solution (include all the information that you consider relevant) 2. The managers of the company consider that the shipping cost of the route Juarez-New York can be reduced to $5. Would this reduction change the optimal strategy? And the overall cost? 3. The plant in Tel Aviv could increase the production capacity to 250 units with a fixed cost of $300. Would it be worth to increase the capacity? 4. If you could increase the production capacity in one of the plants of your choice. Which one would be the best? Why?

Question 5 (10 p) A business school claims that the average income of graduates of this school three years after graduation is $700. a. If the claim is correct and if incomes are normally distributed with a standard deviation of $60, what is the probability that 36 randomly selected graduates have an average income of less than $675? b. If a random sample of 36 graduates had an average weekly income of $675, what would you conclude about the validity of the claim? Question 4 (10 p) In a certain firm, the defective products will be checked to. Past experience shows that 25% of products are defective after checked. Twenty defective products are found after a long working day. a. What is the probability that all the defective products can be reworked? b. What is the probability that at least 18 defective ones can be reworked?

Binomial problems: Mean and standard deviation Suppose that we’ve decided to test Clara, who works at the Psychic Center, to see if she really has psychic abilities. While talking to her on the phone, we’ll thoroughly shuffle a standard deck of 52 cards (which is made up of 13 hearts, 13 spades, 13 diamonds, and 13 clubs) and draw one card at random. We’ll ask Clara to name the suit (heart, spade, diamond, or club) of the card we drew. After getting her guess, we’ll return the card to the deck, thoroughly shuffle the deck, draw another card, and get her guess for the suit of this second card. We’ll repeat this process until we’ve drawn a total of 16 cards and gotten her suit guesses for each. Assume that Clara is not clairvoyant, that is, assume that she randomly guesses on each card. 1. Estimate the number of cards in the sample for which Clara correctly guesses the suit by giving the mean of the relevant distribution (that is, the expectation of the relevant random variable). Do not round your response. 2. Quantify the uncertainty of your estimate by giving the standard deviation of the distribution. Round your response to at least three decimal places.

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Using the most recent itemized phone bills. Assume that incoming and out going calls are equal in the population. This means assume p=0.5. For the number of calls made last month, what would be the mean number of outgoing calsl in a random selection of calls? Also, compute the standard deviation. In a selection of 12 calls, what is the probability that less than 3 were outgoing?

Suppose a simple random sample of size 42 is selected from a population with = 10. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor if appropriate). 1. The population size is infinite (to 2 decimals). 2. The population size is N = 50,000 (to 2 decimals). 3. The population size is N = 5000 (to 2 decimals). 4. The population size is N = 500 (to 2 decimals).

Consider the trash bag problem. Suppose that an independent laboratory has tested trash bags and has found that no 30 gallon bags that are currently on the market have a mean breaking strength of 30 pounds or more. On the basis of these results, the producer of the new, improved trash bag feels sure that its 30 gallon bag will be the strongest bag on the market if the new trash bag’s mean breaking strength can be shown to be at least 50 pounds. The mean of the sample of 40 trash bag breaking strength in Table 1.9 is x_ = 50.575. If we let u denote the mean of the breaking strengths of all possible trash bags of the new type and assume that o equals 1.65. a. Calculate 95 percent and 99 percent confidence intervals for u. b. Using the 95 percent confidence interval, can we be 95 percent confident that u is at least 50 pounds? Explain. c. Using the 99 percent confidence interval, can we be 99 percent confident that u is at least 50 pounds? Explain. d. Based on your answers to parts b and c, how convinced are you that the new 30 gallon trash bag is the strongest such bag on the market?

Suppose you interview 10 randomly selected workers and ask how many miles they commute to work. You’ll compute the sample mean commute distance. Now imagine repeating the survey many, many times, each time recording a different sample mean commute distance. In the long run, a histogram of these sample means represents

The Chapin Social Insight Test evaluates how accurately the subject appraises other people. In the reference population used to develop the test, scores are approximately normally distributed with mean 25 and population standard deviation five. The range of possible scores is between 0 to 41. What is the probability of a score of 33 or less?

Question Specialty Toys- Specialty Toys, Inc. sells a variety of new and innovative children’s toys. Management learned that the preholiday season is the best time to introduce a new toy, because many families use this time to look for new ideas for December holiday gifts . When Specialty discovers a new toy with good market potential, it chooses an October market entry date. In order to get toys in its stores by October, Specialty places one-time orders with its manufacturers in June or July of each year. Demand for children’s toys can be highly volatile. If a new toy catches on, a sense of shortage in the marketplace often increases the demand to high levels and large profits can be realized. However, new toys can also flop, leaving Specialty stuck with high levels of inventory that must be sold at reduced prices. The most important question the company faces is deciding how many units of a new toy should be purchased to meet anticipated sales demand. If too few are purchased, sales will be lost; if too many are purchased, profits will be reduced because of low prices realized in clearance sales. For the coming season, Specialty plans to introduce a new product called Weather Teddy. This variation of a talking teddy bear is made by a company in Taiwan. When a child presses Teddy’s hand, the bear begins to talk. A built-in barometer selects one of five responses that predict the weather conditions. The responses range from “It looks to be a very nice day! Have fun” to “I think it may rain today. Don’t forget your umbrella.” Tests with the product show that, even though it is not a perfect weather predictor, its predictions are surprisingly good. Several of Specialty’s managers claimed Teddy gave predictions of the weather that were as good as many local television weather forecasters. As with other products, Specialty faces the decision of how many Weather Teddy units to order for the upcoming holiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or 28,000 units. The wide range of order quantities indicates considerable disagreement concerning the market potential. The product management team asks you for an analysis of the stock-out probabilities for various order quantities, an estimate of the profit potential, and to help make an order quantity recommendation. Specialty expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains after the holiday season, Specialty will sell all surplus inventories for $5 per unit. After reviewing the sales history of similar products, Specialty’s senior forecaster predicted an expected demand of 20,000 units with a .95 probability that demand would be between 10,000 units and 30,000 units. Management Report-Prepare a managerial report that addresses the following issues and recommends an order quantity for the Weather Teddy product. 1. Use the sales forecaster’s prediction to describe a normal probability distribution that can be used to approximate the demand distribution. Sketch the distribution and show its mean and standard deviation. 2. Compute the probability of a stock-out for the order quantities suggested by members of the management team. 3. Compute the projected profit for the order quantities suggested by the management team under three scenarios: worst case in which sales = 10,000 units, most likely case in which sales = 20,000 units and best case in which sales = 30,000 units. 4. One of Specialty’s managers felt that the profit potential was so great that the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock-outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios? 5. Provide your own recommendations for an order quantity and note the associated profit projections.

Suppose that $98,000 is to be allocated for advertising, research, and investment in the ratio 8:4:2. How much money will be allocated for each?

A school is sending 11 children to a camp. If 20% of the children in the school are first graders, and the 11 children are selected at random, what is the mean and variance of the number of first graders chosen?

A sample of parts provided the following contingency table data on part quality by production shift. Shift Number Good Number Defective First 368 32 Second 285 15 Third 176 24 Use α =.05 to determine whether part quality is independent of the production shift. What is your conclusion?

The following summary table represents the results from an ANOVA comparing three treatment conditions with N = 10 participants in each condition. Complete all missing values. Source SS df MS Between __ __ 15 F = 7.50 Within __ __ __ Total 84 __ __

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November 3, 2019