Question 1

What is the probability of having a third child for parents whose first two children are

the same gender? What about for parents whose first two children are of different genders?

Describe why this provides a ‘first-stage’ for the instrument.

Question 2

Estimate the ‘first-stage’ and ‘second-stage’ of the instrumental variable regression using

“same gender for first two kids” as the instrument without any additional controls. Interpret

the point estimate for both the ‘first-stage’ and ‘second-stage’.

Question 3

Run the instrumental variable regression without any controls. Interpret the resulting

point estimate and clearly describe which type of individuals is identifying the ‘LATE’.

Question 4

Discuss the (internal) validity of the instrument. In addition, state who exactly a defier

would be in this example and whether the “no defier” (or monotonicity) assumption is likely

to hold.

Question 5

Now run the IV regression with the following controls: race, age of the mother, age of

the mother squared, age of the mother at first birth, age of the mother at first birth squared.

Does the point estimate change relative to question 3? Is this reassuring in terms of (internal)

validity? Describe why or why not.

 

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The Vigenère Cipher is an encryption algorithm that combines the use  of a keyword with the message to be encrypted. A tableau is provided  that shows an encrypted character for each combination of characters in  the message and the keyword.

Using the Vigenère Tableau encryption scheme with a keyword of KEYWORD, encrypt the following message:

IS INFORMATION SECURITY ESSENTIAL

After encrypting the message, decrypt the following message, using KEYWORD as the keyword:

YRJUW WWRIG JTFUW ERECE LCMKL CIWKR R

For both the encryption and decryption, show your work  in a Microsoft Word document to substantiate the result. For this,  create two different tables. The first table will have 3 rows and 30  columns. Each columword characters. The second row will  correspond to the message to be encrypted. The third row will  correspond to the encrypted message.

The second table will have 3 rows and 31 columns. Each  column will correspond to an individual character. The first row will  correspond to the keyword characters. The second row will correspond to  the message to be decrypted. The third row will correspond to the  decrypted message.

 

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You are the president of Campus Sweaters, Inc. Campus Sweaters manufacturers wool pullover v-neck sweaters of various sizes and colors. You are preparing the budgets for the first quarter of 2016 (January, February, and March). You have the following historical and projected sales in units:

Actual or Projected	Month	Units
Actual	November	9,000
Actual	December	8,000
Projected	January	11,000
Projected	February	10,000
Projected	March	6,000
Projected	April	7,000
Projected	May	7,000
Projected	June	7,000

It takes ten skeins of yarn to make one sweater. Each skein costs $1.30. Past experience shows you need to have enough sweaters on-hand to fill the next month and one half of sales (approximately forty-five days). Also, you need enough yarn to manufacture the next month’s production.

You will have 12,000 sweaters in finished inventory and 80,000 skeins of yarn in raw materials inventory as of December 31, 2015. You purchased $90,000 of yarn in December that must be paid for in January. The Company incurred $7,500 of overhead cost during December 2015, and $13,500 of selling expenses in the last half of December. These also must be paid in January. The company policy is to pay prior month's charges on account on the tenth day of the following month unless otherwise designated.

Income Statements

Actual or Projected Sales	Actual	Actual	Projected	Projected	Projected
Month	November	December	January	February	March
Sales	$240,000	$270,000	$300,000	$270,000	$210,000
Cost of sales	144,000	162,000	180,000	162,000	126,000
Gross margin	96,000	108,000	120,000	108,000	84,000
Operating Expenses:
Selling	24,000	27,000	30,000	27,000	21,000
Administration	35,000	45,000	50,000	45,000	30,000
Rent	10,000	10,000	10,000	10,000	10,000
Sales salaries	20,000	20,000	20,000	20,000	20,000
Totals	89,000	102,000	110,000	102,000	81,000
Operating Income	7,000	6,000	10,000	6,000	3,000
Interest Expense	0	0	?	?	?
Net Income	$7,000	$6,000

A worker, using a knitting machine, can make five sweaters in an hour. The cost of direct labor per hour, including fringe, is $20.00. You incurred $13,000 of direct labor cost between December 16 and December 31, 2015 which will be paid on January 7, 2016. The manufacturing overhead rate is $5.00 per direct labor hour. All sweaters are sold wholesale to retail outlets at $30.00 each.

Salaries and wages are paid as follows: The pay period from the first to the fifteenth of the month is paid on the twenty-second day of each month; the pay period from the sixteenth to the thirty-first is paid on the seventh day of the following month.

Rent is paid in advance on the first day of each month. Fifty percent of the selling expenses are paid in the month incurred, and fifty percent in the following month. All manufacturing overhead and administrative costs are paid on the tenth day of the following month.

The cash in the bank on December 31, 2015 was forecast at $30,000. There were no outstanding borrowings. The company has a $500,000 line of credit at 12% per annum at the Old Rusty Bucket State Bank of Oreana. All borrowings, and any subsequent repayments, must be made on the fifteenth day of the month. All loan takedowns must be repaid by December 31, 2016. Repayments can be made when extra cash is available, but are due on the fifteenth day of any month. The company has the policy to have at least $25,000 in the bank account at the end of each month even if they have to borrow it. However, more may be required depending on cash needs during the first week of the following month.

20% of the sales are collected in the month of sale. Seventy percent are collected in the next month, and five percent are collected in the third month.

>Use the information above to complete the following activities:

Step 01: Prepare a production budget for Campus Sweaters, Inc. for each of the following months: January, February, March 2016.

Step 02: Prepare a raw materials budget for each month.

Step 03: Prepare a raw materials budget in dollars for each month.

Step 04: Prepare a cost of goods manufactured schedule for each month.

Step 05: Prepare a cash budget for each month.

***HINT***—These relate to January: Required production in units = 12,000, Required purchases of raw materials in units = 105,000, and Cost of goods manufactured = $216,000. The most common error is in computing the required ending inventory for finished goods. For January, it should be all of Feb sales and half of March.

 

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For this assignment, you will compose a report about a possible business that you want to start. Think about a need (consumers) that you have observed in your local community or region. What interests or expertise do you have? How can those factors come together to create a viable business?

Your report should include:

• The purpose of the business:

• What need exists?
• What is the product or service you intend to provide through your business?
• The viability of the business:

• Why would this product or service be profitable?
• What are at least two major obstacles that would get in the way of launching this business or its success?
• What other people, companies, or organizations have been successful with this, or a similar, product or service?
• The needed resources for the business.

• What resources and additional information or help with your idea (people, websites, agencies, actual business contacts, trade associations, etc.) do you need to bring together to move your idea forward?

Submission Details:

• Submit your analysis in a 4- to 5-page Microsoft Word document, using APA style.
• Name your document SU_BUS1101_W2_LastName_FirstInitial.doc.
• Submit your document to the Submissions Area by the due date assigned.

 

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