In order to study the relationship between the amount of sleep a student gets and his or her school performance, a researcher collected data from 120 students. The two-way frequency table shows the number of students who passed and failed an exam and the number of students who got more or less than 6 hours of sleep the night before.

	Passed exam	Failed exam	Total
Less than 6 hours of sleep	12	10	22
More than 6 hours of sleep	90	8	98
Total	102	18	120

To the nearest percent, give the probability that a student who failed the exam got less than 6 hours of sleep.

Assume the role of assistant buyer for a costume jewelry store. You are ordering a shipment of earrings in five styles from a supplier. The cost of the earrings is $\$ 1.50$ per pair. You know that if you set too low a selling price the earrings will not sell well. The buyer (judge) has asked you to prepare a pricing strategy for the earrings. Among the decisions you must make is whether to price all the styles at one price point or to price the different styles at separate price points.

Present your pricing strategy to your supervisor (judge).

You will be evaluated on how well you meet the following performance indicator:

Use psychological pricing to adjust base prices

A square cross-section duct $(0.5 \mathrm{~m} \times 0.5 \mathrm{~m} \times 30 \mathrm{~m})$ is used to convey air $\left(\rho=1.1 \mathrm{~kg} / \mathrm{m}^{3}\right)$ into a clean room in an electronics manufacturing facility. The air is supplied by a fan and passes through a filter installed in the duct. The duct friction factor is $f=0.03$, the filter has a loss coefficient of $K=12$, and the clean room is kept at a positive gage pressure of $50 \mathrm{~Pa}$. The fan performance is given by $\Delta p=1020-25 Q-30 Q^{2}$, where $\Delta p$ $\mathrm{(Pa)}$ is the pressure generated by the fan at flow rate $Q\left(\mathrm{~m}^{3} / \mathrm{s}\right)$. Find the flow rate delivered to the room.

Mark Washington, CFA, is an analyst with BIC. One year ago, BIC analysts predicted that the U.S. equity market would most likely experience a slight downturn and suggested delta-hedging the BIC portfolio. As predicted, the U.S. equity markets did indeed experience a downturn of approximately 4% over a 12-month period. However, portfolio performance for BIC was disappointing, lagging its peer group by nearly 10%. Washington has been told to review the options strategy to determine why the hedged portfolio did not perform as expected.

Washington considers a put option that has a delta of 2.65. If the price of the underlying asset decreases by $6, then what is the best estimate of the change in option price?

The following are 10 technical accounting terms introduced or emphasized in earlier text :

$$\begin{array}{lll}\text { P/e ratio } & \text { Treasury stock } & \text { Discontinued operations } \\ \text { Stock dividend } & \text { Extraordinary item } & \text { Prior period adjustment } \\ \text { Basic earnings per share } & \text { Additional paid-in capital } & \text { Diluted earnings per share }\\ \text{Comprehensive income} \end{array}$$

Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the term described, or answer "None" if the statement does not correctly describe any of the terms.
i. A broadly defined measure of financial performance that includes, but is not limited to, net income.

A vapor-compression refrigeration cycle with Refrigerant 134 as the working fluid operates with an evaporator temperature of $50^{\circ} \mathrm{F}$ and a condenser pressure of $180\ \mathrm{lbf}/ \mathrm{in}^2$ Refrigerant enters the condenser at $140^{\circ} \mathrm{F}$ and exits as sat urated liquid. The cycle has a refrigeration capacity of $5\ \text{tons}$. Determine (a) the refrigerant mass flow rate, in $\mathrm{lb} / \mathrm{min}$. (b) the compressor isentropic efficiency. (c) the compressor power, in horsepower. (d) the coefficient of performance. Plot each of the quantities calculated in parts (b) through (d) for compressor exit temperatures varying from $130^{\circ} \mathrm{F}$ to for compressor exit temperatures varying from $130^{\circ} \mathrm{F}$ to $140^{\circ} \mathrm{F}$.

You have been employed by the local circus to plan their human cannonball performance. For this act, a spring-loaded cannon will shoot a human projectile, the Great Flyinski, across the big top to a net below. The net is located 5.0 m lower than the muzzle of the cannon from which the Great Flyinski is launched. The cannon will shoot the Great Flyinski at an angle of

$$35.0 ^ { \circ }$$

above the horizontal and at a speed of 18.0 m/s. The ringmaster has asked that you decide how far from the cannon to place the net so that the Great Flyinski will land in the net and not be splattered on the floor, which would greatly disturb the audience. What do you tell the ringmaster? {connect interactive: projectile motion)

A power plant is built to provide district heating of buildings that requires 90$^{\circ} \mathrm{C}$ liquid water at 150 kPa. The district heating water is returned at 50$^{\circ} \mathrm{C}$, 100 kPa in a closed loop in an amount such that 20 MW of power is delivered. This hot water is produced from a steam power cycle with a boiler making steam at 5 MPa, 600$^{\circ} \mathrm{C}$, delivered to the steam turbine. The steam cycle could have its condenser operate at 90$^{\circ} \mathrm{C}$, providing the power to the district heating. It could also be done with extraction of steam from the turbine. Suggest a system and evaluate its performance in terms of the cogenerated amount of turbine work.

The following observations are on stopping distance (ft) of a particular truck at 20 mph under specified experimental conditions (“Experimental Measurement of the Stopping Performance of a Tractor-Semitrailer from Multiple Speeds,” NHTSA, DOT HS 811 488, June 2011):

$$\begin{matrix} \text{32.1} & \text{30.6} & \text{31.4} & \text{30.4} & \text{31.0} & \text{31.9}\\ \end{matrix}$$

The cited report states that under these conditions, the maximum allowable stopping distance is 30. A normal probability plot validates the assumption that stopping distance is normally distributed. Does the data suggest that true average stopping distance exceeds this maximum value? Test the appropriate hypotheses using $\alpha=.01$.

The article “Evaluating Tunnel Kiln Performance” (Amer. Ceramic Soc. Bull., Aug. 1997: 59–63) gave the following summary information for fracture strengths (MPa) of n=169 ceramic bars fired in a particular kiln: $\bar{x}=89.10$, s=3.73. a. Calculate a (two-sided) confidence interval for true average fracture strength using a confidence level of 95%. Does it appear that true average fracture strength has been precisely estimated? b. Suppose the investigators had believed a priori that the population standard deviation was about 4 MPa. Based on this supposition, how large a sample would have been required to estimate $\mu$ to within .5 MPa with 95% confidence?

Refer to The Sport Journal (Winter 2004) study on the effectiveness of a speed-training program for football players. The decreases in 40-yard sprint times (time after training minus time before training) for 38 players are saved in the SPRINT file. An athlete's sprint performance will be classified as "improved" if the "after" time is less than the "before" time, and classified as "Not Improved" if otherwise. a. Find an estimate for the true proportion of all high school athletes who attain improved sprint times after participating in the speed-training program. b. Convert the estimate, part a, into a 95% confidence interval. Give a practical interpretation of the result. c. How many high school athletes should be sampled to estimate the true proportion to within .03 with 95% confidence?

Choose a word to replace the italicized word in the sentence. All of the possible choices have similar definitions, but the correct answer will have a connotation that best suits the context and does not render the sentence awkward in tone or content. When choices seem close, look for a clue in the context that makes one choice better than the other.

$$\begin{array}{llll}\text { typical } & \text { crime } & \text { problem } & \text { hackneyed } \\ \text { imperious } & \text { show } & \text { intentions } & \text { machinations } \\ \text { affectation } & \text { failure } & \text { normal } & \end{array}$$

Not wanting to trouble his grandma with his many worries, Luke put on a[n] performance of cheerfulness when he visited her this week.

Better word: ______

The following observations are on stopping distance (ft) of a particular truck at 20 mph under specified experimental conditions (“Experimental Measurement of the Stopping Performance of a Tractor-Semitrailer from Multiple Speeds,” NHTSA, DOT HS 811 488, June 2011):

$$\begin{matrix} \text{32.1} & \text{30.6} & \text{31.4} & \text{30.4} & \text{31.0} & \text{31.9}\\ \end{matrix}$$

The cited report states that under these conditions, the maximum allowable stopping distance is 30. A normal probability plot validates the assumption that stopping distance is normally distributed. Determine the probability of a type II error when $\alpha= .01, \sigma=.65$, and the actual value of m is 31. Repeat this for $\mu=32$.

The following list gives a number of measures associated with the Balanced Scorecard:

a. Number of new customers
b. Percentage of customer complaints resolved with one contact
c. Unit product cost
d. Cost per distribution channel
e. Suggestions per employee
f. Warranty repair costs
g. Consumer satisfaction (from surveys)
h. Cycle time for solving a customer problem
i. Strategic job coverage ratio
j. On-time delivery percentage
k. Percentage of revenues from new products

1. Classify each performance measure as belonging to one of the following perspectives: financial, customer, internal business process, or learning and growth.

2. Suggest an additional measure for each of the four perspectives.