Which of the following is/are true?
Answer(s): D
Under a two-tailed test, values on either side of the null can contribute to a rejection. Hence, the critical values under a two-tailed test have to be higher than under a one-tailed test for a given level of significance. This makes it harder to reject the null under a two-tailed test. This makes intuitive sense. In a one-tailed test, you are specifying a stricter alternative than under a completely general, two-tailed alternative (in the current example, you are claiming that X is less than zero as an alternative which is a stronger statement than the claim that X is non-zero). The rejection region in a right-tailed regression extends from the critical t-value associated with the given significance level and positive infinity. This critical value is greater than zero.
What is the Net Present Value of this series of annual cash flows using an interest rate of 15% per year: Year0: <$15,000>, Year 1: $5,000, Year 2: $8,000, Year 3: $11,000? (Note that the <> are used to indicate a negative number).
Answer(s): E
On the BAII Plus, press CF 2nd CLRWork 15000 +/- ENTER DownArrow 5000 ENTER DownArrow DownArrow 8000 ENTER DownArrow DownArrow 11000 ENTER DownArrow DownArrow 2nd Quit. Then press NPV 15 ENTER DownArrow CPT. On the HP12C, press these keys: 15000 CHS BlueShift CFo 5000 BlueShift CFj 8000 BlueShift CFj 11000 BlueShift CFj Then press 15 i, YellowShift NPV. The "DownArrow" represents the downward-pointing arrow on the top row of the BAII Plus keyboard. Make sure the BAII Plus has the P/Y value set to 1.
How many monthly payments of $30, beginning next month, are needed to pay off a debt of $1,000, if interest accrues at 10% per year, compounded monthly?
On the BAII Plus, press 10 divide 12 = I/Y, 1000 PV, 30 +/- PMT, 0 FV, CPT N. On the HP12C, press 10 ENTER 12 divide i, 1000 PV, 30 CHS PMT, 0 FV, n. Note that the HP12C will display 40 as the answer. Make sure the BAII Plus has the value of P/Y set to 1.
Management is considering adopting a bonus system to increase production. One suggestion is to pay a bonus on the highest 5 percent of production based on past experience. Past records indicate that, on the average, 4,000 units of a small assembly are produced during a week. The distribution of the weekly production is approximately normally distributed with a standard deviation of 60 units. If the bonus is paid on the upper 5 percent of production, the bonus will be paid on how many units or more?
We want the area 1.0 - 0.55 = 0.45. For this we have a z value of 1.645. Now, using z = (x-u)/sigma, we have 1.645 = (x-4000)/60. x = 4099.
A selected group of employees of Unique Buying Services is to be surveyed with respect to a new pension plan. In depth interviews are to be conducted with each employee selected in the sample.The employees are classified as follows.Classification Event Number of EmployeesSupervisors A 120Maintenance B 50Production C 1,460Management D 302Secretarial E 68What is the probability that the first person selected is classified as a maintenance employee?
Answer(s): A
There are 2000 employees of which 50 are from maintenance. So 50/2000 = 0.025.
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