Question: The Belmont Stakes is the last and
The Belmont Stakes is the last and longest of the three horse races that make up the Triple Crown. Curiously, some of the Belmont races have been run clockwise around the track, and others have been run counterclockwise. Do the horses care? Here are boxplots and a confidence interval for the difference in mean speeds (in miles per hour). (Data in Belmont Stakes 2015) 
With 95.00% confidence, 2.53550891. What conclusion can you draw? 2. But wait. Not only has the direction been inconsistent, but so has the length of the race (in miles). 
Comment on what you see in this plot. 3. The most common, and the current, length of the race is 1.5 miles. So let’s restrict our attention to only the races of that length. 
Do you expect a confidence interval for the difference in mean speeds based only on these races to be wider, narrower, or about the same as the interval found earlier? Explain. 4. There is, in fact, a lurking variable in these data. Using the data file Belmont Stakes 2015, identify the lurking variable and, if necessary, update your conclusion about the direction that racehorses prefer to run.
> For the 146 life expectancies in Exercise 15, 1. Which would you expect to be larger: the median or the mean? Explain briefly. 2. Which would you report: the mean or the median? Explain briefly.
> A last is a form, traditionally made of wood, in the shape of the human foot. Lasts of various sizes are used by shoemakers to make shoes. In the United States, shoe sizes are defined differently for men and women: U.S. men shoe size =(last size in inche
> Here are the life expectancies at birth in 190 countries (2014) as collected by the World Health Organization. 1. Describe the shape. 2. How many modes do you see?
> For the distribution of e-mails sent by students in Exercise 11, describe the shape.
> Describe the shape of the distribution of bicep circumferences (in inches) for the 250 men in the study of Exercise 10.
> The U.S. Census Bureau keeps track of the number of adoptions in each state (and Washington, DC). (www.census.gov) The upper histogram shows the distribution of adoptions. The lower histogram shows the population of each state (and DC). 1. What do the hi
> A university teacher saved every e-mail received from students in a large introductory statistics class during an entire term. He then counted, for each student who had sent him at least one e-mail, how many e-mails each student had sent. What does the h
> The study in Exercise 9 actually measured the bicep circumference in centimeters. The dot plot in Exercise 9 was formed by dividing each measurement by 2.54 to convert it to inches. Here is the dot plot of the original values in cm. Do the two dot plots
> The Centers for Disease Control and Prevention (CDC) has estimated that 19.8% of Americans over 15 years old are obese. The CDC conducts a survey on obesity and various behaviors. Here is a table on self-reported exercise classified by body mass index (B
> The table gives the numbers of passenger car occupants killed in accidents in 2011 by car type. Convert this table to a relative frequency table.
> Load the Indy 500 2018 data into your preferred statistics package and answer the following questions: 1. What was the average speed of the winner in 1920? 2. How many times did Bill Vukovich win the race in the 1950s? 3. How many races took place during
> Load the Kentucky Derby 2018 data into your preferred statistics package and answer the following questions; 1. What was the name of the winning horse in 1880? 2. When did the length of the race change? 3. What was the winning time in 1974? 4. Only one h
> The 2.5-mile Indianapolis Motor Speedway has been the home to a race on Memorial Day nearly every year since 1911. Even during the first race, there were controversies. Ralph Mulford was given the checkered flag first but took three extra laps just to ma
> The Kentucky Derby is a horse race that has been run every year since 1875 at Churchill Downs in Louisville, Kentucky. The race started as a 1.5-mile race, but in 1896, it was shortened to 1.25 miles because experts felt that 3-year-old horses shouldn’t
> People who get lost in the desert, mountains, or woods often seem to wander in circles rather than walk in straight lines. To see whether people naturally walk in circles in the absence of visual clues, researcher Andrea Axtell tested 32 people on a foot
> In 2013, Consumer Reports published an article evaluating refrigerators. It listed 353 models, giving the brand, cost, size (cu ft), type (such as top freezer), estimated annual energy cost, an overall rating (good, excellent, etc.), and the repair histo
> The Environmental Protection Agency (EPA) tracks fuel economy of automobiles based on information from the manufacturers (Ford, Toyota, etc.). Among the data the agency collects are the manufacturer, vehicle type (car, SUV, etc.), weight, horsepower, and
> In performing research for an ecology class, students at a college in upstate New York collect data on streams each year. They record a number of biological, chemical, and physical variables, including the stream name, the substrate of the stream (limest
> Business analysts hoping to provide information helpful to American grape growers compiled these data about vineyards: size (acres), number of years in existence, state, varieties of grapes grown, average case price, gross sales, and percent profit.
> A company held a blood pressure screening clinic for its employees. The results are summarized in the table below by Age and Blood pressure: 1. Find the marginal distribution of blood pressure level. 2. Find the conditional distribution of blood pressure
> Scientists at a major pharmaceutical firm conducted an experiment to study the effectiveness of an herbal compound to treat the common cold. They exposed each patient to a cold virus, then gave them either the herbal compound or a sugar solution known to
> In a study appearing in the journal Science, a research team reports that plants in southern England are flowering earlier in the spring. Records of the first flowering dates for 385 species over a period of 47 years show that flowering has advanced an a
> Medical researchers at a large city hospital investigating the impact of prenatal care on newborn health collected data from 882 births during 1998 2000. They kept track of the mother age, the number of weeks the pregnancy lasted, the type of birth (cesa
> The Gallup Poll conducted a representative telephone survey of 1180 American voters during the first quarter of 2007. Among the reported results were the voter region (Northeast, South, etc.), age, party affiliation, and whether or not the person had vot
> A listing posted by the Arby restaurant chain gives, for each of the sandwiches it sells, the type of meat in the sandwich, the number of calories, and the serving size in ounces. The data might be used to assess the nutritional value of the different sa
> The State Education Department requires local school districts to keep these records on all students: age, race or ethnicity, days absent, current grade level, standardized test scores in reading and mathematics, and any disabilities or special education
> Because of the difficulty of weighing a bear in the woods, researchers caught and measured 54 bears, recording their weight, neck size, length, and sex. They hoped to find a way to estimate weight from the other, more easily determined quantities.
> The Cleveland Casting Plant is a large, highly automated producer of gray and nodular iron automotive castings for Ford Motor Company. The company is interested in keeping the pouring temperature of the molten iron (in degrees Fahrenheit) close to the sp
> A look at 474 participants in the San Antonio Longitudinal Study of Aging found that participants who drank two or more diet sodas a day experienced waist size increases six times greater than those of people who didn’t drink diet soda. (J Am Geriatr Soc
> A study begun in 2011 examines the use of stem cells in treating two forms of blindness, Stargardt disease and dry age-related macular degeneration. Each of the 24 patients entered one of two separate trials in which embryonic stem cells were to be used
> In 2000, the Journal of the American Medical Association (JAMA) published a study that examined pregnancies that resulted in the birth of twins. Births were classified as preterm with intervention (induced labor or cesarean), preterm without procedures,
> Coffee stations in offices often just ask users to leave money in a tray to pay for their coffee, but many people cheat. Researchers at Newcastle University alternately taped two posters over the coffee station. During one week, it was a picture of flowe
> Some companies offer 401(k) retirement plans to employees, permitting them to shift part of their before-tax salaries into investments such as mutual funds. Employers typically match 50% of the employees contribution up to about 6% of salary. One company
> Ian Walker, a psychologist at the University of Bath, wondered whether drivers treat bicycle riders differently when they wear helmets. He rigged his bicycle with an ultrasonic sensor that could measure how close each car was that passed him. He then rod
> The hula-hoop, a popular children toy in the 1950s, has gained popularity as an exercise in recent years. But does it work? To answer this question, the American Council on Exercise conducted a study to evaluate the cardio and calorie-burning benefits of
> A study conducted by a team of American and Canadian researchers found that during ovulation, a woman can tell whether a man is gay or straight by looking at his face. To explore the subject, the authors conducted three investigations, the first of which
> Find an Internet source that reports on a study and describes the data. Print out the description and identify as many of the W as you can.
> Find a newspaper or magazine article in which some data are reported. For the data discussed in the article, identify as many of the W as you can. Include a copy of the article with your report.
> Meteorologists utilize sophisticated models to predict the weather up to ten days in advance. Give an example of how they might assess their models.
> Pollsters are interested in predicting the outcome of elections. Give an example of how they might model whether someone is likely to vote.
> A medical researcher measures the increase in heart rate of patients who are taking a stress test. What kind of variable is the researcher studying?
> Just how accurate are the weather forecasts we hear every day? The following table compares the daily forecast with a city actual weather for a year: 1. On what percent of days did it actually rain? 2. On what percent of days was rain predicted? 3. What
> A pharmaceutical company conducts an experiment in which a subject takes 100 mg of a substance orally. The researchers measure how many minutes it takes for half of the substance to exit the bloodstream. What kind of variable is the company studying?
> A June 2011 Gallup Poll asked Americans, Thinking about the job situation in America today, would you say that it is now a good time or a bad time to find a quality job? The choices were Good time or Bad time. What kind of variable is the response?
> A February 2010 Gallup Poll question asked, In politics, as of today, do you consider yourself a Republican, a Democrat, or an Independent? The possible responses were Democrat, Republican ,Independent ,Other , and No Response. What kind of variable is
> The U.S. Postal Service uses five-digit ZIP codes to identify locations to assist in delivering mail. 1. In what sense are ZIP codes categorical? 2. Is there any ordinal sense to ZIP codes? In other words, does a higher ZIP code tell you anything about a
> A person grade in school is generally identified by a number. 1. Give an example of a Why in which grade level is treated as categorical. 2. Give an example of a Why in which grade level is treated as quantitative.
> The Paralyzed Veterans of America (PVA) is a Congressionally chartered veterans service organization that represents the interests of paralyzed veterans. The agency provides a range of services to veterans who have spinal cord injury or dysfunction. It d
> In the text you have examined data in the file Body fat. In particular, you made regression models to predict %Body Fat from Waist size. But there are many other variables in the file. Using the statistics program of your choice, examine the ability of o
> Over the course of the modern Olympics, France, Italy, and Great Britain have participated in roughly the same number of Olympic games. But is the distribution of their medals the same, or do they differ? Here is a table summarizing their Summer Olympic
> Archery is one of the few Olympic sports in which men and women compete on an equal footing. Both contests start with 64 archers, and the competitors first launch 72 arrows at a distance of 70 m from the target to establish seeding for their elimination
> A survey of autos parked in student and staff lots at a large university classified the brands by country of origin, as seen in the table. 1. What percent of all the cars surveyed were foreign? 2. What percent of the American cars were owned by students?
> For each of the following, list the sample space and tell whether you think the events are equally likely: 1. Roll two dice; record the sum of the numbers. 2. A family has 3 children; record each child sex in order of birth. 3. Toss four coins; record th
> The data set Igf contains measurements on people of various ages. The main variable of interest is the level of insulin-like growth factor (igÆ’) (J. Clin. Endocrinol. Metab. 78(3): 744752, March 1994). Each row in the data
> Manufacturing Inc. purchased a machine on 1 January 20X2 for $500,000. The estimated physical life of the machine is 15 years, but the estimated useful life to Manufacturing is 10 years. The equipment has an estimated residual value of $20,000. The equip
> Accounting for depreciation is substantially different between IFRS and ASPE. 2. Accounting for impairments is substantially different between IFRS and ASPE. 3. IFRS requires that all significant components must be depreciated if practical to do so. 4
> Benata Ltd. has the following assets: 1. Goodwill 2. Trademark with a remaining life of ten years but renewable for an infinite period; expected to be used indefinitely 3. Customer lists 4. Machinery 5. Land expected to be held for 20 years and then sold
> Hendrie Inc. acquired the listed assets and liabilities of Smith Corp. for $1,250,000 cash on 1 January. The book values and fair values of the assets of Smith as of the date of acquisition were: In addition, Smith Corp. had liabilities totaling $320,000
> Wired Productions Ltd. uses its website for sales and client information. Costs incurred last year include: Required: Should each item above be expensed or capitalized?
> Carlos Corp. recorded the following expenditures: 1. Engineering work to improve a product’s design so it can be manufactured on a cost-effective basis 2. Salaries of scientists searching for a way to apply new research outcomes 3. Testing prototype prod
> Manufacturing Incorporated (MI) purchased land on 1 January 20X2, which it started to operate as a gravel pit. The gravel pit will be operating for the next 20 years. At the end of the 20 years MI will be required to incur an estimated cost of $5 million
> DesRosier Company acquires a machine on 1 January 20X6, with a non-interest-bearing note that requires $10,000 to be paid on 31 December 20X6 and again on 31 December 20X7. The note has no explicit interest, but the prevailing interest rate is 6% on liab
> Mapleback Inc. recently completed construction of a new manufacturing facility. Prior to the approval of the building permits, the company operated a parking lot on the land. This parking lot had revenues, net of costs, of $50,000. Total construction cos
> Higher Ltd. purchased a large piece of earth-moving equipment for $5,000,000. The vehicle had six tires, each worth $100,000 and expected to last two years. This is the maximum value that should be allocated to tires. The reminder of the purchase cost, i
> Explain how the fundamental qualitative characteristics apply in each of the following situations: 1. A company acquires land in exchange for shares, but the shares are lightly traded and cannot be easily valued. The most recent trades have fluctuated wi
> Lower Ltd. incurred the following expenditures: Oil and filter change on delivery vehicle $ 120 Repair to delivery vehicle after accident 3,500 Painting new delivery vehicle immediately after purchase 700 Repainting building hallway 2,200 Planting summ
> O’Callaghan Inc. (OI) is in the highway construction business. OI’s property, plant, and equipment account includes heavy construction equipment. The following transactions relate to the disposal of two of the company’s pieces of equipment. - Equipment O
> Belle Inc. (BI) purchased a group of assets together from one of its competitors whose owner had recently decided to retire and stop operations. BI paid $500,000 for land, building, equipment, and a patent. Independent appraisals had been completed on al
> Tate Tasers Inc. is preparing interim financial statements for the quarter ending 31 March 20X1 and needs to estimate the value of inventory on hand at the end of the quarter. Physical inventory counts are taken only at the end of the fiscal year. The fo
> In February 20X3, La Fondue Ltd. signed a two-year contract with a Quebec cheese supplier to provide a minimum of 1,000 kilograms of fine cheese for fondue at a fixed price of $20 per kilogram. By the end of September, La Fondue had purchased 650 kg at t
> Purple Corp. had a fire sprinkler go off in a warehouse, damaging 800 units of its regular inventory. Information with respect to the units: - Cost, $52 per unit - Regular selling price, $89 per unit - Estimated selling price once repaired, $42 per unit
> Halicon Ltd. applies the lower of cost or NRV valuation to inventory. The company’s inventory at the end of the year is as follows: Required: Determine the amount of any adjustment that is required to inventory under each of the followi
> Arganon Ltd. had the following ending inventory balances for each of the past six years: Required: For each year, 20X4 through 20X8, determine the holding loss (gain) under lower-of-cost-or-NRV valuation.
> Meter Manufacturing Limited manufactures a component part in high volumes at a manufacturing facility in Hamilton, Ontario. The direct material cost for a unit is $12, direct labour is $18, and variable overhead is $22. Fixed manufacturing overhead for t
> Yarn Imports Corp. is preparing an inventory listing, and is assigning a cost to inventory that arrived on December 29, two days before the end of the year. The following elements of potential cost have been identified: Invoice price; the amount was prep
> Identify the level in the hierarchy that would be most appropriate for measuring the following items using the fair-value hierarchy: Required: Identify the most appropriate value of the hierarchy to measure each item.
> Max Petfood Ltd. is preparing an inventory listing for April 30, its fiscal year-end. The following items have been identified: Description and Cost: Shipment from supplier, arrived in April 29, but inspected, found defective, and will be returned = $43,
> Items: Grapevines Grapefruit (on tree) Grapefruit (picked) Grapefruit juice Hog Hot dogs Sheep Yarn Required: Identify how each item is classified under IFRS and ASPE.
> Item: Wool Beef cattle Apple tree Banana (picked) Orange juice Apple (picked) Apple on tree Pork Cheese Dairy cattle Required: Identify whether each item is a biological asset, agricultural inventory or asset that results from secondary product
> Item Wool Beef cattle Apple tree Banana (picked) Orange juice Apple (picked) Apple on tree Pork Cheese Dairy cattle Required: Identify how each item is classified and measured under IFRS.
> Consider the following two independent errors that were discovered in 20X1 after the 20X0 financial statements were issued. Scenario A Inventory of $123,000 was missed in an inventory count. Scenario B Inventory of $250,000 was counted twice. Required: 1
> Redux Ltd. estimates its quarterly inventory by the retail inventory method. The following data are available for the quarter ended 30 September 20X6: Required: Prepare a schedule to compute the estimated inventory at 30 September 20X6.
> Pepper Ltd. delivers 500 units of product to Salt Corp. The sales price was $125 per unit, and Pepper’s cost was $75 per unit. Pepper has agreed that Salt may return any unused product within 60 days and receive a full refund. Based on historical experie
> 1. When initially recognized, accounts receivables are required to have a valuation allowance based on expected credit losses for their lifetime. 2. For a new company with no history of uncollectible accounts, receivables can be written off when they are
> Using the information from TR7-7 now assume the company is a private company and it has elected to use straight-line amortization. Required: 1. Calculate the present value of the note receivable. 2. Prepare entries for the sale, interest revenue, and cas
> Dharma, a public company, sold a piece of equipment at the beginning of year 1, receiving a $10,000, two-year 2% note. Interest is paid at the end of each year. Market interest rates are assumed to be 10%. Required: 1. Calculate the present value of the
> Indicate whether each of the following statements is true or false: 1. The continuity assumption states that a business entity will last long enough for its assets to be used up and its liabilities settled. 2. The entity basis of reporting is the same as
> Use information from TR7-5. Required: Record all journal entries for the sequence of events assuming the transfer is recorded as a borrowing. Data from TR7-5: Hum Corp. has accounts receivable of $460,000. The company transfers these accounts receivable
> Hum Corp. has accounts receivable of $460,000. The company transfers these accounts receivable to a financial institution. There are no bad debts associated with these accounts receivable. Proceeds of $444,500 are received from the transfer. The transfer
> The unadjusted net accounts receivable on the books of Elantra Ltd. as of 31 December 20X4 are as follows: Accounts receivable $100,000 Less: Allowance for doubtful accounts 10,000 $ 90,000 40% of the accounts are current and 5% might not be collected,
> The accounts of Quickly Company provided the following 20X4 information at 31 December: Accounts receivable balance $600,000 (dr.) Allowance for sales discounts 5,500 (cr.) Allowance for doubtful accounts 40,000 (cr.) In fact, the allowance for sales dis
> 1. Loans and receivables are classified according to their business model. 2. All notes receivables are measured at amortized cost. 3. Overdrafts can be netted against a positive balance in a bank account with any bank. 4. Gains and losses from translati
> Arrow Co. entered into a contract with a customer for $410,000. The contract is for the delivery of equipment and a three-year service maintenance contract for the equipment. Arrow sells separately the equipment for a selling price of $400,000, and the m
> SorCo. Inc. has just entered into a sale agreement with a customer. The contract is for $1,100,000. However, the payments will be made as follows: 1 August 20X1 on date of delivery $500,000; 1 August 20X2 $300,000 and 1 August 20X3 $300,000. SorCo has es
> Rock Gasoline decided to implement a customer loyalty point program. For each litre of fuel sold, the customer earns one point. The points can be accumulated and redeemed later for gas, products in the store, or a car wash. In May, Rock had sales of $60,
> CCS is a construction company that builds roads in the Northwest Territories (NWT). CCS uses the percentage-of-completion method and measures completion on the basis of kilometres completed. In November 20X9, CCS signed an agreement with the NWT governme
> Spreadsheets Made Easy (SME) is a public company that designs and sells spreadsheet software. Corporate customers purchase licences for the number of users in their company who can access the software from their network at any time. The perpetual licence
> Indicate whether each statement is required in IFRS or in ASPE, or in both.
> ELC Inc. sells all types of electronics with a one-year warranty for product assurance on all products sold. On 26 February, a customer came into the store and purchased a television for $1,250. The company estimates, from past experience, that warranty
> Under contract, Sojourn Co. delivers 1,000 units to Customer A for $50 each on 1 April. Sojourn’s documented policy is to allow a customer to return any unused product within 90 days and receive a full refund. The cost of each product is $35. On the basi
