Chapter 13

Critical Concept - The Trustee's Responsibility

How does the failure of an organization to prepare for equipment replacement at the end of its useful life impact the overall operations of the organization and its patients?

Chapter 14

Critical concept - Creating a Financial Analysis

Ratio analysis - in your opinion, shouldn't the organization already know how it's doing without exploring financial analysis? How can you trust the organization's interpretation of the numbers generated by the financial analysis?

1. [9 marks] Answer the following, 9 multiple choice questions, Please select one answer for each question. You can also include your justification. This way, even though your answer is wrong, but you may receive 0.5 mark if your justification is reasonable. (1). Fill in the missing words to the quote: "Inferential statistical methods may be described as methods for drawing conclusions about based on computed from A. statistics, samples, populations B. populations, parameters, samples C. statistics, parameters, samples D. parameters, statistics, populations E. populations, statistics, samplesExercise 1-20 Static 10 A professor records the majors of her 30 students as follows: 2.5 Accounting Economics Undecided Finance Management points Management Finance Marketing Economics Management Marketing Finance Marketing Accounting Finance Finance Undecided Management Undecided Economics Economics Accounting Management Undecided Economics Accounting Economics Management Accounting Economics PBook Click here for the Excel Data File a. What is the measurement scale of these data? References O Interval O Ordinal O Nominal O Ratio b. Summarize the results in tabular form. Major Number of students Accounting Economics Finance MarketingDetermine if the following items represent an example of positive economics or normative economics. The richest 1% of Americans should pay more taxes than the rest of the 99%. O Positive Economics O Normative Economics A decrease in the supply of coconut will increase the price of German O Normative Economics chocolate cake, a good which requires coconut shavings as a key ingredient O Positive Economics The higher the minimum wage, the higher the price of goods and services Normative Economics is likely to bo. OO Positive Economics Social welfare spending in Sweden occupies too large a portion of the O Positive Economics national budget. O Normative Economics