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be successful because the general manager orally promised him that he would remain in his job as long as his sales stayed at a specific level, and he has maintained that level....
Read Moretwenty-four hours....
Read MoreWhich of the following facts should make you the most worried about the reliability of the results of the test in this case?
Two of the six expected counts are less than 5....
Read MoreThe following is the (edited) output of the chi-squared test in this case:
Considering only the p-value, without considering the chi-square reliability assumptions, what conclusion would you make?
the data provide sufficient evidence to conclude that extra-curricular participation and grade performance are related.Good job! The p-value (0.046) is sufficiently small (less than .05) to reject H0 in favor of the alternative hypothesis and conclude that extra-curricular activity and grade pe...
Read MoreThe count that you found in the previous question is the number of students with high extra-curricular participation and good grades that you would expect to see assuming that:
both (C) and (D) are correct....
Read MoreThe following four questions refer to the following information:
To determine if there is a relationship between grade performance and extracurricular participation, North Carolina state conducted a study of 112 randomly selected students, recording the number of students in each of three extra-curricular categories, and each of two grade categories. Here are the results:
Good grades | Poor grades | |
Low extra-curricular participation | 11 | 2 |
Moderate extra-curricular participation | 68 | 23 |
High extra-curricular participation | 3 | 5 |
Source: Felder, et. al., “A Study of Student Performance in an Introductory Chemical Engineering Course,”
(1992 ASEE Annual Conference Proceedings, pp. 1516–1519.)
What is the expected count of students with high extra-curricular participation and good grades?
5.86Good job! The expected count is: (row total * column total) / table total = 8 * 82 / 112 = 5.86....
Read MoreThe mortality rate from melanoma (skin cancer) during the 1950s was recorded for each of the 48 contiguous United States, plus Washington D.C. (as reported by Fisher, L.D. and van Belle, G. (1993). Biostatistics: A Methodology for the Health Sciences. John Wiley and Sons, New York, NY, p. 292).
In context, the negative relationship (shown in the scatterplot above) means that:
The more southern the state, the higher the melanoma death rate.Good job! From the scatterplot we see that the lower the latitude the higher the mortality per 10 million. In other words, the more southern the state, the higher the death rate. Note that since the response variable is the mortality pe...
Read MoreCompany X produces widgets. The following information relates to the its current production: Sale price per unit:
Variable costs per unit:$400
Manufacturing
$240
Marketing and administrative
$70
Total fixed costs:
Manufacturing
Marketing and administrative
$760,000 $230,000
A special sales order request was received for 7400 widgets at a price of $350 per widget. Assuming fixed costs remain unchanged, how would operating income be affected if the special order is accepted? (NOTE: Assume the company has capacity and that regular sales are not affected by the special order.)
To determine how the special order affects operating income, we need to calculate the incremental revenue and incremental costs associated with the order. Here are the steps:Calculate the total revenue from the special order: [ \text{Total Revenue} = \text{Special Order Price per Unit} \times \...
Read MoreWaterbury Inc., manufactures and sells RF17, a specialty raft used for whitewater rafting. In 2021, due to increased competition, Waterbury must reduce its selling price to $315 in order to sell 20,000 units. Total fixed costs is $1,680,000. The company expects to be able to reduce the investment in the division to $2,100,000 but still requires a 20% rate of return on investment. If fixed costs cannot be reduced in this time frame, what is the target variable cost per unit? Remember: enter whole integer numbers without Ks, commas, decimals, $, etc.
Calculate the required return on investment (ROI): [ \text{Required ROI} = \text{Investment} \times \text{Rate of Return} ] [ \text{Required ROI} = $2,100,000 \times 0.20 = $420,000 ]Determine the total revenue needed to achieve the required ROI: [ \text{Total Revenue} = \text{Total Fixed ...
Read MoreCompanies that are considered price-setters usually employ the approach to pricing products.
A. cost-plus pricing
B. percentage pricing
C. target costing
D. cost plus one
A. cost-plus pricing...
Read More