If sample size is kept constant but confidence level is increased, what would be the effect on confidence intervals?
Math 1635
Exam I
Fall 2020
Instructions were emailed to you, and discussed in Tuesday’s lecture.
1. (10 pts) Please report the grade point average, rounded to 3 digits. Do not round the middle steps.
Course
Credits
Grade
Religion
3
A
Relativity
4
C
Renaissance Art
3
B
Russian Folk Songs
1
B
2. (10 pts) Let X represent the number of pets are in a household, and p(X) is the proportion (or probability) of households with X pets. Please report EX as an integer divided by a power of 10 (the smallest power of 10 for which the numerator is an integer). Note that p(X=3) has purposely been left blank, but do not assume it equals zero.
X
0
1
3
5
P(X)
0.10
0.40
0.30
3. (10 pts) Is the max an upper outlier for the distribution with the following 5 Number Summary? Justify with calculations. The 5 Number Summary is {90, 50, 45, 40, 25}.
4. (10 pts) In a certain course your semester grade is determined by marks on 4 exams, each worth 100 points. Your marks on the first 3 exams were 82, 89 and 94. What mark would you need on the 4th exam for an A in the course? (For an A your average must be at least 90.0).
5. (15 pts) A bell-shaped curve has µ = 52, σ = 2. Please report an interval around µ that contains exactly 95% of the data. Use correct interval notation.
6. (10 pts) If you are in a class with 95 students (you are one of the 95) and 11 others have test marks that exceed yours, what is your percentile?
7. (15 pts) Suppose the distribution of hours of sleep among undergraduates is normal with µ = 8 hrs, σ = 2 hrs. Let X represent the amount of sleep by a randomly chosen undergraduate. Please report these probabilities:
a. P(X> 6hrs) b. P(X < 10hrs)
8. (15 pts) How much time do people spend in traffic? A random sample of n = 81 has reported ????, s = 2 min. Please report a 95% confidence interval for µ. As part of your answer please interpret the number 95%.
9. (5 pts)
If sample size is increased but confidence level is kept constant, what would be the effect on confidence intervals?
If sample size is kept constant but confidence level is increased, what would be the effect on confidence intervals?
summarize the article and then discuss which principle(s) of marketing are illustrated by it.
One of the goals of this class is to better understand marketing and its relation to your own behavior and organization. Students should look for popular press articles that discuss concepts we have discussed in class, particularly having something to do with some area of consumer behavior. In your post, summarize the article and then discuss which principle(s) of marketing are illustrated by it. Please include a link to the article.
Tasks To be Done:
1)Write 1-2 Paragraphs on popular press articles that discuss concepts we have discussed in class, particularly having something to do with some area of consumer behavior(Please see below examples how others are writing take those as reference)and see attached file from professor basic notes
2) Write Comments for Example 1 and Example 2(1 paragraph for each example)
Comments Example for Example 2: Well, this is definately news to me! What a great move by the Goodwill industries! THis does open them up to be able to compete with the other online stores. I do know my behavour has changed and I generally shop online for items. Even groceries and clothing since the pandemic. I know that I am not alone in the aspect that online shopping trend. I think that this is a great move for Goodwill and I hope that this proves to be very profitable for them moving forward.
What are the advantages and disadvantages of knowledge management systems?
Chapter 11: Project Risk Knowledge ManagementInitial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.Also, provide a graduate-level response to each of the following questions:
- What is knowledge at risk?
- What are the key challenges of knowledge management?
- What are the advantages and disadvantages of knowledge management systems?
- What is the impact of knowledge management in the modern world?
[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in the student’s own words – do not provide quotes!]
Text
Title: Managing Project Risks ISBN: 9781119489733 Authors: Peter J. Edwards, Paulo Vaz Serra, Michael Edwards Publisher: John Wiley & Sons Publication Date: 2019-08-13
How does adverse selection and/or moral hazard impact borrowers’ decisions to stick by the terms of the loan when the reverse loan balance exceeds the market value of the house (due to sharp declines in housing prices)?
PLEASE USE APA INTEXT CITATIONS AND REFERENCE
Case Questions
In the context of the below examples:
1. How does adverse selection and/or moral hazard impact borrowers’ decisions to stick by the
terms of the loan when the reverse loan balance exceeds the market value of the house (due
to sharp declines in housing prices)?
2. Explore the moral hazard resulting from potential hesitancy of lenders to foreclose because
of reputational risk.
3. Explore the consequences of asymmetric information that the lender has regarding the
longevity of the borrower.
4. Explore the consequences of adverse selection and/or moral hazard on the borrower resulting
from high initial expenses.
5. Explore the nature of adverse selection and/or moral hazard resulting from tenure loan,
versus cash out?
6. How do the requirements of reverse mortgages mitigate adverse selection and moral hazard
risks for the lender?
MORAL HAZARD & ADVERSE SELECTION IN THE MARKET FOR
REVERSE MORTGAGES
Ittoop, V. (January 2021). Moral Hazard & Adverse Selection In The Market For Reverse
Mortgages. (Unpublished.)
As the baby boomers approach retirement, there is growing concern that many have not
adequately prepared for their retirement. Efforts are underway to promote higher savings and
adopt appropriate investment strategies for building retirement income. Another approach is to
find ways to provide for retirement income from the assets retirees already have.
At a basic level, a reverse mortgage is a mortgage loan (from a finance company) that allows to
the homeowner (the borrower) to access income tied up in their home equity. There are several
requirements for acquiring a reverse mortgage:
1. The borrower must be 62 years of age or older
2. The house must be the primary residence of the borrower.
3. The borrower must own the house outright, or have substantial equity.
4. Borrower’s income, assets and monthly living expenses are evaluated in order to determine
the ability of the borrower to maintain property, pay taxes and home insurance premiums.
5. The maximum that can be borrowed against the house is based on the appraised value of the
property, the age of the borrower and limits set by law.
6. Borrowers may choose to receive a lump sum payment (cash out), or monthly payments for a
fixed period (line of credit), or payments as long as they live in the house, sell the house or
die (tenure).
7. Borrowers must commit to maintaining the property and paying property taxes and home
insurance. Violations can result in foreclosure.
8. Heavy upfront fees are charged for acquiring a reverse mortgage and the borrower receives
reduced payments in the initial years.
With this basic knowledge, let’s consider the following examples.
Example 1
Profile: Ms. Jones 63 years old and currently working. She estimates that her house would be
appraised at $250,000. Ms. Jones has total savings of $30,000 in her savings account.
Monthly take home salary: $3,750 Average monthly Property
Maintenance: $400
Average Monthly Living expenses:
$2,800
Average Monthly Savings: $300
Monthly Home Insurance: $100
Monthly Property Taxes: $250
Ms. Jones is not financially shrewd. Hearing TV ads on Reverse Mortgage, Ms. Jones decide to
apply for a reverse mortgage at the local bank. Her objective was to grow her savings before
retirement, using the cash from the reverse mortgage payments.
Ms. Jones was given an estimate of total fees of $7,000 for a formal appraisal, title search,
insurance, underwriting, and other compliance-related expenses. She was advised that the bank
would consider a reverse mortgage for only 52% of the appraised value, around $130,000 and
Ms. Jones would receive if approved, about $600 a month.
Decision: Ms. Jones decided not to make the application for the reverse mortgage. She felt that
the initial fees were too high and would eat away at her current savings.
Example 2
Profile: Mr. and Ms. Martin are above 65 years of age. They are both retired. They estimate that
their house would be appraised at $550,000. They have total savings of $250,000 in financial
investments.
Monthly social security: $4,000
Monthly Investment income: $1,000
Average monthly Property
Maintenance: $600
Average Monthly Living expenses:
$3,500
Average Monthly Savings: -$100
Monthly Home Insurance: $400
Monthly Property Taxes: $600
Mr. and Mrs. Martin received a brochure offering Reverse Mortgage and decided the contact the
lender. They hoped that the payments from the Reserve Mortgage would ensure a more secure
financial future.
They were given an estimate of $8,500 in fees for a formal appraisal, title search, title insurance,
underwriting, and other compliance-related expenses. They were advised that the bank would
consider a reverse mortgage for only 52% of the appraised value, around $280,000 and if
approved, would receive, about $1,100 a month.
Decision: Mr. and Mrs. Martin decided to apply for the reverse mortgage, but was turned down
by the underwriter for negative monthly savings.
Example 3
Profile: Mr. and Mrs. George is above 65 years of age. They are both retired. They estimate
that their house would be appraised at $800,000. They have total savings of $650,000 in financial
investments. Mr. George is healthy, but Mrs. George suffers from chronic health problems
Monthly social security: $5,000
Monthly Investment income: $5,000
Average monthly Property
Maintenance: $700
Average Monthly Living expenses:
$5,000
Average Monthly Savings: $2,600
Monthly Home Insurance: $700
Monthly Property Taxes: $1,000
Mr. and Mrs. George consulted a financial advisor regarding Reverse Mortgages. They explained
that although they are comfortable with their financial situation in retirement, they wished to
travel and enjoy some of their favorite activities more fully. They hoped that the payments from
the Reserve Mortgage would give them the extra cash to enjoy their retirement.
They were given an estimate of $10,000 in fees for a formal appraisal, title search, title
insurance, underwriting, and other compliance-related expenses. They were advised that the bank
would consider a reverse mortgage of only 52% of the appraised value, around $420,000 and if
approved, would receive, about $1,800 a month.
Decision: Mr. and Mrs. George decided to apply for the reverse mortgage and received approval
for a tenure loan of $1,800. They did not inform the lender of Mrs. George’s health problems.
Later, a combination of large medical expenses and a recession that depressed home prices
placed severe stress on their financial status. They stayed on track with home insurance and
taxes but failed to maintain their property adequately. The lenders delayed foreclose on the
Georges for fear of reputational risk. Eventually, the Martins lost their home and moved in with
their family.
Example 4
Profile: Mr. and Mrs. Law are above 65 years of age. They are both retired. They estimate that
their house would be appraised at $1,000,000. They have total savings of $350,000 in financial
investments. Mr. and Mrs. Law are healthy at the time of the loan application
Monthly social security: $6,000
Monthly Investment income: $3,000
Other income: 5,000
Average monthly Property
Maintenance: $1,000
Average Monthly Living expenses:
$8,000
Average Monthly Savings: $2,100
Monthly Home Insurance: $1000
Monthly Property Taxes: $1,900
Mr. and Mrs. Law wished for a more active retired life – more travel, more active social
gatherings, theater, etc. They hoped that the payments from the Reserve Mortgage would give
them the extra cash to more fully enjoy their retirement.
They were given an estimate of $12,000 in fees for a formal appraisal, title search, title
insurance, underwriting and other compliance related expenses. They were advised that the bank
would consider a reverse mortgage of only 52% of the appraised value, around $500,000 and if
approved, would receive, about $2,000 a month.
Decision: Mr. and Mrs. Law decided to apply for the reverse mortgage and decided to take the
cash up front, rather than receive monthly payments. They received $500,000 in cash. After
five years of aggressive spending, they ran out of cash and became derelict in maintaining their property, paying taxes and insurance payments. Mr. and Mrs. Martin were given the option of
paying back the loan, or foreclosure.
How should a business avoid negative events occurring and enhance opportunity for positive events?
Chapter 9: Risk Response and Treatment OptionsQuality Management Conference Paper : https://www.pmi.org/learning/library/quality-management-software-development-programs-1059Quality Management Conference Paper: https://www.pmi.org/learning/library/initiating-planning-stages-project-quality-management-10Quality Management Conference Paper: https://www.pmi.org/learning/library/project-quality-assessment-potential-failure-8936Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.Also, provide a graduate-level response to each of the following questions:Risk concerns both positive and negative aspects of a possible event. For example, when the covid 19 crisis occurred it offered an unexpected business advantages or new product for certain organizations – a positive risk came to volition for these organizations. Also, the crisis offered an unexpected negative risk, where no one would come to a movie theatre – a negative risk volition.
- How should an organization prepare for either type of event?
- How should a business avoid negative events occurring and enhance opportunity for positive events?
Text
Title: Managing Project Risks
ISBN: 9781119489733
Authors: Peter J. Edwards, Paulo Vaz Serra, Michael Edwards
Publisher: John Wiley & Sons
Publication Date: 2019-08-13
Discuss the advantages of using procedures to modularize your program.
1) Discuss the advantages of using procedures to modularize your program. Does it make your program easier to write, debug, or modify if you use procedures? Functions are similar to procedures; how are they different? Where do you typically use functions?
2)Read the Week 5 iLab instructions and discuss the expectations you have regarding this lab. Do you see the importance of using procedures in complex scripts? How did your actual lab experiences meet your expectations? Are there specific insights or challenges you encountered that you would like to share with the class?
What did you learn about VBScript procedures and functions in completing this lab?
Discuss the article and what you learned about internal auditing from the article. How is what you learned different from what an external auditor would do?
While the course has taught you about external independent audits, another important type of audit is the internal audit. This week’s materials will teach you about internal audits.
In the Shapiro Library, locate the periodical Internal Auditor and find an article that interests you. Discuss the article and what you learned about internal auditing from the article. How is what you learned different from what an external auditor would do?
Discuss the various socioeconomic life transitions that the older adult will face in relation to Declining function
Discuss the various socioeconomic life transitions that the older adult will face in relation to:
· Declining function
· Shrinking social world
· Widowhood
· Late-Stage Divorce
· Late-Stage remarriage
· Grand parenting
· Reduced income
· Retirement, including the phases of retirement
· Role changes
· Awareness of mortality
Design a program that will allow a user to Input a list of your family members along with their age and state where they reside.
Design a program that will allow a user to Input a list of your family members along with their age and state where they reside. Determine and print the average age of your family and print the names of anyone who live in Texas.
There are two deliveries for this project. The first delivery is the project plan which provides your problem statements, problem analysis, and how it will comply with the project specifications. The final delivery will be your completed project design along with your code comments and comprehensive test plan.
Describe one type of drug used to treat each type of diabetes including proper preparation and administration of this drug.
1 page explanation of the differences between the types of diabetes, including type 1, type 2, and gestational diabetes. Describe one type of drug used to treat each type of diabetes including proper preparation and administration of this drug. Be sure to include dietary considerations related to treatment. Then, explain the short-term and long-term impact of this type of diabetes on patients. including effects of drug treatments. Be specific and provide examples.
