Purple Cube Inc.’s inventory records are shown below – use this information to answer the six questions:  Inventory Data Beginning Inventory  200 units @ $1.50 Purchase @ May 31 250 units @ $2.00 Purchase @ August 31 350 units @ $3.10 Sales @ October 15 450 units @ $3.50   Calculate the following as they relate to Purple Cube Inc.: Required Questions 1) Cost of Goods Sold under the FIFO method:  [Answer1] 2) Ending Inventory under the FIFO method:  [Answer2] 3) Ending Inventory under the LIFO method:  [Answer3] 4) Gross Margin under the LIFO method:  [Answer4] 5) Cost of Goods Sold under the Weighted Average method  [Answer5] 6) Gross Margin under the Weighted Average method  [Answer6] Note: Do not round intermediate calculations. Solutions will be rounded to nearest whole number. Formula(s): Gross Margin = Sales – Cost of Goods Sold Weighted Average Cost per Unit = Cost of Goods Available for Sale

According to the Central Limit Theorem, what sample size is considered large to ensure approximate normality? State the minimum sample size that is needed.  

In reference to Unit 8- Supply and Demand (for each part,  answer in complete sentences)  Examine the  U.S. automobile market A. Event #1:   An influx of foreign cars have entered into the U.S. car market starting the late 1970s and early 1980s.    After this influx,  did demand or supply shift? What is the specific reason for  the shift? Which direction (left or right) would the shift occur?  What would happen to the average price of cars as well as the quantity of cars sold? B. Event #2:  During the same time,  prices of gasoline increased rapidly due to the conflicts in the Middle East.  Based on this event did demand or supply shift?  What is the specific reason for the shift?  Which direction (left or right) would the shift occur?  What would happen to the average price of cars as well as the quantity of cars sold? C. Both event #1 and #2 happened at the same time,  Based on these two events,  what happened to average price and number of cars sold?  Why do you say that?  Do you think limiting foreign imports using tariffs is a good idea for a country?  Why or why not? Criteria:  Answer each part in complete sentences. Events 1 & 2 have only one shift each.  For part C,  you are asked to evaluate the combined effect or A and B.  

Suppose a new 95% confidence interval was desired to estimate the mean bookbag weight for all high school students.  What minimum sample size would be needed to have a margin of error of at most 0.5?  Assume the population standard deviation is 2 pounds. 

Although Americans are estimated to spend over a billion dollars on Mother’s Day and Father’s Day gifts, many parents claim they don’t want anything.  In a study that surveyed 1000 fathers and 1000 mothers, researchers found that 200 fathers and 125 mothers prefer no gifts.  To estimate the difference in the proportion of fathers and mothers who prefer no gifts, a 90% confidence interval was found to be (0.048, 0.102).   The large sample confidence interval is appropriate, because_________________________________.

Mrs. Brooks expresses interest in completing her funeral arrangements and writing letters to her grandchildren. Question 6: Which of the following best reflects the nursing goal for this stage?

Case #1 (audio only; this is the same case as in Question #1): Which of the 5 speech systems is definitely impaired in this sample? 

The probability that someone plans to volunteer is 0.251, the probability that someone plans to make a donation is 0.186, and the probability that someone plans to both volunteer and donate is 0.072. 2 pts. a) Find the probability that someone plans to volunteer or donate. 2 pts. b) If someone plans to make a donation, what is the probability that s/he will also volunteer? 3 pts. c)  Are making a donation and volunteering independent events? Explain with the appropriate probabilities.

In a linear regression, when you use the regression line to make predictions outside of the range for which you have collected data on, this is known as_________________.

A study was designed to determine the differences between In-State and Out-of-State Tuition for 400 randomly selected US institutions.  The histogram and summary statistics for the In-State schools are included below. 4 pts. a)  Is the maximum an outlier.  Numerically justify your answer.           4 pts. b)  With your previous answer in mind, provide the name and value of:          1.  The best measure of center          2.  The best measure of spread