BUSI 820Quantitative Researc

BUSI 820
Quantitative Research Methods Assignment Instructions
Liberty University School of Business 30 Aug 2018
Table of Contents
General Instructions 3
Assignment: Defining Variables, Entering Data, Running
Descriptives and Checking the Data 4
Assignment: Working with Variables, Z Scores, Population and
Interpreting Output 5
Assignment: Computing and Recoding, Checking for Normality
and Managing Data 6
Assignment: Assessing Reliability with Nominal Data,
Exploratory Factor Analysis and Cronbach’s Alpha 7
Assignment: Analyzing Chi-Square, Phi (Or Cramer’s V) and
Writing Research Questions 8

Assignment: Examining Bivariate Pearson, Spearman
Correlations and Linear Regression 9
Assignment: One Sample and Paired Sample t-Tests, and Group
Comparison 10
Assignment: One-Way ANOVA and Nonparametric Kruskal-
Wallis Test 11
BUSI 820, Quantitative Research Methods
Assignment Instructions
30 August 2018
Page 10 of 11
General Instructions
For each Assignment:
1. Attach your word document for review and grading. Other
file formats are not accepted andwill not be graded. Use the
following filename format:
LastName_BUSI820_AssignmentX.docx
2. Include an APA title block with your name, class title, date,
and the assignment number.
3. Include a table of contents and a reference section. Number
your pages in the footer alongwith the date. Include a header
starting on page 2 with the Course and assignment number.
4. Write the problem number and the problem title as a level
one heading (Example ‐ A.1.1: Chapter 2, Problem 2.1, Check
the Completed Questionnaires) and then provide yourresponse.
5. Use level two headings with short titles for multi part
questions (Example ‐ A1.1.a, Short Title, A1.1.b, Short Title

II, etc.)
6. Use appropriate level headings for key elements of your
discussion such as Research Questions, Hypotheses, Descriptive
Statistics, Assumptions & Conditions, Interpretation, Results,
and others. Your goal is to make your analysis easy to follow
and logical.
7. Ensure that all tables and graphs are legible and include a
figure number.
8. Carefully review your document prior to submission for
formatting, flow, and readability. Keep in mind that running the
statistical tests is only the first half of the challenge; you must
be able to clearly communicate your findings to the reader!
Assignment: Defining Variables, Entering Data, Running
Descriptives and Checking the Data
A1.1: Chapter 2, Problem 2.1, Check the Completed
Questionnaires. Write a short narrative of your process, and an
interpretation of your findings.
A1.2: Chapter 2, Problem 2.2, Define and Label the Variables.
Write a short narrative of your process, and an interpretation of
your findings. Include a screen shot of your Completed Variable
View.
A1.3: Chapter 2, Problem 2.3, Display your Dictionary or
Codebook. Write a short narrative of your process. Include a
screen shot of your Codebook.
A1.3: Chapter 2, Problem 2.4, Enter Data. Write a short
narrative of your process. Include a screen shot of your Data
Editor with the updates included.
A1.4: Chapter 2, Problem 2.5, Run Descriptives and Check the
Data. Write a short narrative of your process, and an
interpretation of your findings. Cut and paste the Descriptive
Statistics table directly into your document and refer to it in

your interpretation.
A1.5, Application Problem, Preparing Descriptive Statistics I.
Using the “college student data.sav” file, do the following
problems. Write a short narrative of your process and an
interpretation of your findings. Cut and paste your outputs
directly into your document and refer to them in your
interpretation.
a. Compute the N, minimum, maximum, and mean for all the
variables in the college student data file.
b. How many students have complete data?
c. Identify any statistics on the output that are not meaningful.
Explain your opinions.
d. What is the mean height of the students?
e. What about the average height of the same sex parent?
f. What percentage of students are male?
g. What percentage have children?
Assignment: Working with Variables, Z Scores, Population and
Interpreting Output
A2.1: Chapter 4, Problem 4.1, Descriptive Statistics for the
Ordinal and Scale Variables. Write a short narrative of your
process, and an interpretation of your findings. Cut and paste
the Descriptive Statistics tables directly into your document and
refer to them in your interpretation.
A2.2: Chapter 4, Problem 4.2, Boxplots for One Variable and
for Multiple Variables. Write a short narrative of your process,
and an interpretation of your findings. Cut and paste the Case
Processing Summaries and Boxplots directly into your
document and refer to them in your interpretation.
A2.3: Chapter 4, Problem 4.3, Boxplots and Stem‐ and‐ Leaf
Plots Split by a Dichotomous Variable. Writea short narrative of
your process, and an interpretation of your findings. Cut and

paste the Case Processing Summary, Descriptive Statistics
Table, and Boxplot directly into your document and refer to
them in your interpretation.
A2.4: Chapter 4, Problem 4.4, Descriptive Statistics for the
Dichotomous Variables. Write a short narrative of your process,
and an interpretation of your findings. Cut and paste the
Descriptive Statistics table directly into your document and
refer to it in your interpretation.
A2.5: Chapter 4, Problem 4.5, Frequency Tables for a Few
Variables. Write a short narrative of your process, and an
interpretation of your findings. Cut and paste the Descriptive
Statistics table and the Frequency Tables directly into your
A2.6, Application Problem, Preparing Descriptive Statistics II.
Using the “college student data.sav” file, do the following
problems. Write a short narrative of your process and an
interpretation of your findings. Cut and paste your outputs
interpretation.
a. For the variables with five or more ordered levels, compute
the skewness and describe the results.
b. Which variables in the data set are approximately normally
distributed/scale?
c. Which ones are ordered but not normal?
d. Prepare a stem‐ and‐ leaf plot for the same sex parent’s
height split by gender and discuss theplots.
e. Which of the variables are nominal? Run the frequencies for
the nominal variables and other variables with fewer than five
levels and discuss the results.
f. Prepare boxplots for student height and for hours of study.
Discuss a comparison of the two plots.
Assignment: Computing and Recoding, Checking for Normality

and Managing Data
A3.1: Chapter 5, Problem 5.1, Count Math Courses Taken.
Write a short narrative of your process, and an interpretation of
your findings. Cut and paste Output 5.1 directly into your
document and refer to it in your interpretation.
A3.2: Chapter 5, Problem 5.2, Recode and Relabel Mother’s and
Father’s Education. Write a short narrative of your process, and
an interpretation of your findings. Cut and paste the Statistics
Table and Frequency Tables directly into your document and
refer to them in your interpretation.
A3.3: Chapter 5, Problem 5.3, Recode and Compute Pleasure
Scale Score. Write a short narrative of your process, and an
interpretation of your findings. Cut and paste Output 5.3a and
Output 5.3b directly into your document and refer to them in
A3.4: Chapter 5, Problem 5.4, Compute Parent’s Revised
Education with the Mean Function. Write a short narrative of
your process, and an interpretation of your findings. Cut and
paste Output 5.4 directly into your document and refer to it in
A3.5: Chapter 5, Problem 5.5, Check for Errors and Normality
for the New Variables. Write a short narrative of your process,
and an interpretation of your findings. Cut and paste Output 5.5
directly into your document and refer to it in your
interpretation.
A3.6, Application Problem ‐ Managing Data. Using the
“college student data.sav” file, do the following problems.
Write a short narrative of your process and an interpretation of
your findings. Cut and paste your outputs directly into your

a. Compute a new variable labeled “average overall evaluation”
(aveEval) by computing the average score (evalinst + evalprog
+ evalphys + evalsoc)/4.
b. Compute a similar variable (meanEval) using the Mean
function. Compare with the aveEval score and discuss why they
differ.
c. Count the number and types of TV shows that each student
watches.
d. Recode the “student’s current gpa” into three categories: 1 =
1.00 ‐ 1.99, 2 = 2.00 ‐ 2.99, 3 = 3.00 ‐
4.00. Produce a Frequency Table for the recoded values.
Assignment: Assessing Reliability with Nominal Data,
Exploratory Factor Analysis and Cronbach’s Alpha
A4.1: Chapter 7, Problem 7.1, Cohen’s Kappa to Assess
Reliability with Nominal Data. Write a short narrative of your
process, an interpretation of your findings, and write your
results. Cut and paste the Case Processing Summary,
Crosstabulation, and Symetric Measures tables directly into
your document and refer to them in your interpretation.
A4.2: Chapter 7, Problem 7.2, Correlation and Paired t to
Assess Interrater Reliability. Write a short narrative of your
results. Cut and paste the Paired Sample Statistics, Paired
Samples Correlations, and Paired Samples Test tables directly
into your document and refer to them in your interpretation.
A4.3: Chapter 7, Problem 7.3, Exploratory Factor Analysis to
Assess Evidence for Validity. Write a short narrative of your
results to include tables. Cut and paste the Descriptive
Statistics, Correlations, KMO and Bartlett’s Test, Factor
Matrix, Total Variance, and Factor Transformation Matrix
tables directly into your document and refer to them in your

interpretation.
A4.4: Chapter 7, Problem 7.4, Cronbach’s Alpha to Assess
Internal Consistency Reliability. For each of the following
Scales; 7.4a Alpha for the Revised Competency Scale, 7.4b
Alpha for the Revised Motivation Scale, and 7.4c Alpha for the
Revised Pleasure Scale, complete the following: Write a short
narrative of your process, an interpretation of your findings, and
write your results. Cut and paste the Case
Processing Summary, Reliability Statistics, Item Statistics,
Inter‐ Item Correlation Matrix, and Item‐ Total Statistics tables
interpretation. Include appropriate headings to clearly show
each separate reliability test completed.
A4.5, Application Problem ‐ Measuring Reliability and
Validity. Using the “hsbdata.sav” file, do the following
problems. Write a short narrative of your process, an
interpretation of your findings, and your results. Cut and paste
your outputs directly into your document and refer to them in
your interpretation. Write the results.
a. Write a research question and a null hypotheses relating to
the variables “mosaic” and “mosaic2” that could be answered
using a paired sample t test. Run the t test and provide a full
interpretation if the findings to include the outputs.
b. Combine “item01”, “item07”, “item12”, “item13” to form a
summated scale. Run the Cronbach’s alpha for that scale and
provide a full interpretation of the findings to include the
outputs.
Assignment: Analyzing Chi-Square, Phi (Or Cramer’s V) and
Writing Research Questions
A5.1: Chapter 8, Problem 8.1, Chi‐ Square and Phi (Or
Cramer’s V). Write a short narrative of your process, an
interpretation of your findings, and write your results to include

tables. Cut and paste the Case Processing Summary,
Crosstabulation, Chi‐ Square Tests, and Symetric Measures
interpretation.
A5.2: Chapter 8, Problem 8.2, Risk Ratios and Odds Ratios.
Write a short narrative of your process, an interpretation of your
findings, and write your results. Cut and paste the Case
Processing Summary, Crosstabulation, and Risk Estimate tables
interpretation.
A5.3: Chapter 8, Problem 8.3, Other Nonparametric
Associational Statistics. Write a short narrative of your process,
an interpretation of your findings, and write your results. Cut
and paste the Case Processing Summary, Crosstabulation, and
Symetric Measures tables directly into your document and refer
to them in your interpretation.
A5.4: Chapter 8, Problem 8.4, Cross‐ Tabulation and Eta. Write
a short narrative of your process, an interpretation of your
findings, and write your results to include tables. Cut and paste
the Case Processing Summary, Crosstabulation, and Directional
Measures tables directly into your document and refer to them
in your interpretation.
A5.5, Application Problem ‐ Crosstabulation and Chi‐ Square.
Using the “college student data.sav” and “hsbdata.sav” files, do
the following problems. Write a short narrative of your process,
and paste your outputs directly into your document and refer to
A5.5a. Write two research questions and two null hypotheses
relating to the following pairs of data, run crosstabs and
interpret the results of chi‐ square and phi (or Cramer’s V), as

discussed in Chapter 6 and in the interpretation of Output 8.1
for the following data pairs: 1) “gender” and “marital status”
and 2) “age group” and “marital status”. Before beginning the
test, recode marital status to BinaryMarital where Single and
Divorced (1 & 3) are listed as Single (1) and Married (2) is
listed as Married (2).
Include Case Processing Summary, Crosstabulation,
Chi‐ Square Tests, and Symetric Measures tables and refer to
them in your interpretation. Include a discussion of relevant
differences or similarities. Prior to running the analysis, discuss
how the data meets the assumptions and conditions for the tests
you are going to conduct. Support your assertion with the
appropriate descriptive statistics.
A5.5b. Write two research questions and two null hypotheses
relating to the following pairs of data, run crosstabs and
interpret the results of chi‐ square and phi (or Cramer’s V), as
discussed in Chapter 6 and in the interpretation of Output 8.1
for the following data pairs: 1) “mathach” and “calc” and 2)
“mathach” and “trig”. Before beginning the test, recode math
achievement into two groups HighAch and LowAch using the
median score as the dividing point.
Include Case Processing Summary, Crosstabulation,
Chi‐ Square Tests, and Symetric Measures tables and refer to
them in your interpretation. Include a discussion of relevant
differences or similarities. Prior to running the analysis, discuss
how the data meets the assumptions and conditions for the tests
you are going to conduct. Support your assertion with the
appropriate descriptive statistics.
Assignment: Examining Bivariate Pearson, Spearman
Correlations and Linear Regression
A6.1: Chapter 9, Problem 9.1, Scatterplots to Check the
Assumption of Linearity. Write a short narrative of your process

and interpretation of your findings. , Cut and paste the
Scatterplots with Regression Lines from Output 9.1a and 9.1b
interpretation.
A6.2: Chapter 9, Problem 9.2, Bivariate Pearson and Spearman
Correlations. Write a short narrative of your process, an
interpretation of your findings, and write your results. Cut and
paste the Descriptive Statistics, Correlations, and
Nonparametric Correlations tables directly into your document
and refer to them in your interpretation.
A6.3: Chapter 9, Problem 9.3, Correlation Matrix for Several
Variables. Write a short narrative of your process, an
tables. Cut and paste the Descriptive Statistics and Correlations
interpretation.
A6.4: Chapter 9, Problem 9.4, Bivariate or Simple Linear
Regression. Write a short narrative of your process, an
paste the Model Summary, Variables Entered/Removed,
ANOVA, and Coefficients tables directly into your document
and refer to them in your interpretation.
A6.5: Chapter 9, Problem 9.5, Multiple Regression. Write a
short narrative of your process, an interpretation of your
the Descriptive Statistics, Correlations, Variables
Entered/Removed, Model Summary, ANOVA, and Coefficients
interpretation.
A6.6, Application Problem ‐ Correlation and Regression. Using
the “college student data.sav” file, do the following problems.

your outputs directly into your document and refer to them in
a. Write a research question and a null hypothesis exploring the
relationship between student’s height and parent’s height.
Conduct a correlation analysis to test the relationship including
a scatterplot. Include Descriptive Statistics, Correlations, and
Nonparametric Correlations tables and refer to them in your
interpretation. Prior to running the analysis, discuss how the
data meets the assumptions and conditions for the tests you are
going to conduct. Support your assertion with the appropriate
descriptive statistics.
b. Write a research questions and a null hypothesis exploring
the relationship between student gender, parent’s height, and
student’s height to see if student’s height can be predicted.
Before beginning the
test, recode gender (1 = male, 2 = female) to “Male” (1 = male,
0 = not male).
Explain why recoding gender “Male” was necessary to run this
test. Conduct a regression analysis to test the relationship.
Include Descriptive Statistics, Correlations, Variables
Entered/Removed, Model Summary, ANOVA, and Coefficients
tables and refer to them in your interpretation. Prior to running
the analysis, discuss how the data meets the assumptions and
conditions for the tests you are going to conduct. Support your
assertion with the appropriate descriptive statistics.
Assignment: One Sample and Paired Sample t-Tests, and Group
Comparison
A7.1: Chapter 10, Problem 10.1, One‐ Sample t Test. Write a
short narrative of your process and
interpretation of your findings. , Cut and paste the One‐ Sample

Statistics and One‐ Sample Test tables directly into your
A7.2: Chapter 10, Problem 10.2, Independent Samples t‐ Test.
the Group Statistics, Independent Samples t Test, tables directly
into your document and refer to them in your interpretation.
A7.3: Chapter 10, Problem 10.3, The Nonparametric
Mann‐ Whitney U Test. Write a short narrative of your process,
and paste the Ranks and Test Statistics tables directly into your
A7.4: Chapter 10, Problem 10.4, Paired Samples t Test. Write a
short narrative of your process, an interpretation of your
findings, and write your results. Cut and paste the Paired
Samples Statistics and Paired Samples Test tables directly into
your document and refer to them in your interpretation.
A7.5: Chapter 10, Problem 10.5, Nonparametric Wilcoxen Test
for Two Related Samples. Write a short narrative of your
results. Cut and paste the Wilcoxen Signed Ranks Test and Test
Statistics tables directly into your document and refer to them
in your interpretation.
A7.6, Application Problem ‐ Comparing Two Groups. Using
the “college student data.sav” and “hsbdata.sav” files, do the
following problems. Write a short narrative of your process, an
paste your outputs directly into your document and refer to

difference between genders on student’s average height from the
“college student data.sav” file. Conduct an independent samples
t
test to test the difference. Include Group Statistics, Independent
Samples t Test tables and refer to them in your interpretation.
Prior to running the analysis, discuss how the data meets the
assumptions and conditions for the tests you are going to
conduct. Support your assertion with the appropriate descriptive
statistics.
b. Write a research questions and a null hypotheses exploring
the difference between raters in the mosaic pattern test score
between rater 1 and rater 2 in the “hsbdata.sav” file. Conduct a
paired samples t test to test the for possible differences between
the raters. Include Paired Samples Statistics and Paired Samples
Test tables and refer to them in your interpretation. Prior to
running the analysis, discuss how the data meets the
assumptions and conditions for the tests you are going to
conduct. Support your assertion with the appropriate descriptive
statistics.
Assignment: One-Way ANOVA and Nonparametric Kruskal-
Wallis Test
A8.1a: Chapter 11, Problem 11.1, One‐ Way (or Single Factor)
ANOVA. Write a short narrative of your process and an
interpretation of your findings. Cut and paste the One‐ Way
Descriptives, Test of Homogeneity of Variances, and ANOVA
interpretation.
A8.1b: Chapter 11, Problem 11.2, Post Hoc Multiple
Comparison Tests. Write a short narrative of your process and
an interpretation of your findings. Cut and paste the ANOVA,
Post Hoc Tests, and Homogeneous Subset tables for the Tukey
HSD tests and the Games‐ Howell tests directly into your

A8.1c: Chapter 11, Problem 11.1 & 11.2 One‐ Way ANOVA
with Post Hoc Tests. Write the results of Problem 11.1 and 11.2
to include tables.
A8.2: Chapter 11, Problem 11.3, Nonparametric
Kruskal‐ Wallis Test. Write a short narrative of your process,
and paste the Ranks and Test Statistics tables directly into your
A8.3: Chapter 11, Problem 11.4, Two‐ Way (or Factorial)
ANOVA. Write a short narrative of your process, an
tables. Cut and paste the Between Subjects Factors, Descriptive
Statistics, Tests of Between Subjects Effects, and Profile Plots
interpretation.
A8.4, Application Problem ‐ ANOVA. Using the “college
student data.sav” and “hsbdata.sav” files, do the following
problems. Write a short narrative of your process, an
paste your outputs directly into your document and refer to
potential difference in the students’ scholastic aptitude test
(satm) mean scores based upon ethnicity (ethnic). Conduct a
One‐ Way ANOVA, Tukey HSD Post Hoc test, and the
Games‐ Howell Post Hoc test to test for the difference in
meanscores. Include One‐ Way Descriptives, Test of
Homogeneity of Variances, ANOVA, Post Hoc Tests, and
Homogeneous Subset tables and refer to them in your

b. Write a research question and a null hypothesis exploring the
potential difference in students’ heights based upon gender and
marital status. Examine any potential interaction between
gender and marital status. Conduct a Two‐ Way ANOVA to test
for the difference in mean heights. Include Between Subjects
Factors, Descriptive Statistics, Tests of Between Subjects
Effects, and Profile Plots tables and refer to them in your
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Together, these three insights tell us that the market outcome
makes the sum of consumer
and producer surplus as large as it can be. In other words, the
equilibrium outcome is an
efficient allocation of resources. The benevolent social planner
can, therefore, leave the
market outcome just as she finds it. This policy of leaving well
enough alone goes by the
French expression laissez faire, which literally translates to
“leave to do” but is more broadly
interpreted as “let people do as they will.”

In the News
The Invisible Hand Can Park Your Car
In many cities, finding an available parking spot on the street
seems about as likely
as winning the lottery. But if local governments relied more on
the price system, they
might be able to achieve a more efficient allocation of this
scarce resource.
A Meter So Expensive, It Creates Parking Spots
By Michael Cooper and Jo Craven McGinty
San Francisco—The maddening quest for street parking is not
just a tribulation for
drivers, but a trial for cities. As much as a third of the traffic in
some areas has been
attributed to drivers circling as they hunt for spaces. The
wearying tradition takes a
toll in lost time, polluted air and, when drivers despair, double -
parked cars that clog
traffic even more.
But San Francisco is trying to shorten the hunt with an
ambitious experiment that
aims to make sure that there is always at least one empty
parking spot available on
every block that has meters. The program, which uses new
technology and the law
of supply and demand, raises the price of parking on the city’s
most crowded blocks
and lowers it on its emptiest blocks. While the new prices are
still being phased in—

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the most expensive spots have risen to $4.50 an hour, but could
reach $6—
preliminary data suggests that the change may be having a
positive effect in some
areas.
Change can already be seen on a stretch of Drumm Street
downtown near the
Embarcadero and the popular restaurants at the Ferry Buildi ng.
Last summer it was
nearly impossible to find spots there. But after the city
gradually raised the price of
parking to $4.50 an hour from $3.50, high-tech sensors
embedded in the street
showed that spots were available a little more often—leaving a
welcome space the
other day for the silver Toyota Corolla driven by Victor Chew,
a salesman for a
commercial dishwasher company who frequently parks in the
area.
“There are more spots available now,” said Mr. Chew, 48. “Now
I don’t have to walk
half a mile.”
San Francisco’s parking experiment is the latest major attempt
to improve the
uneasy relationship between cities and the internal combustion

engine—a century-
long saga that has seen cities build highways and tear them
down, widen streets
and narrow them, and make more parking available at some
times and discourage it
at others, all to try to make their downtowns accessible but not
too congested.
The program here is being closely watched by cities around the
country. With the
help of a federal grant, San Francisco installed parking sensors
and new meters at
roughly a quarter of its 26,800 metered spots to track when and
where cars are
parked. And beginning last summer, the city began tweaking its
prices every two
months—giving it the option of raising them 25 cents an hour,
or lowering them by
as much as 50 cents—in the hope of leaving each block with at
least one available
spot. The city also has cut prices at many of the garages and
parking lots it
manages, to lure cars off the street….
The program is the biggest test yet of the theories of Donald
Shoup, a professor of
urban planning at the University of California, Los Angeles. His
2005 book, “The
High Cost of Free Parking,” made him something of a cult
figure to city planners—a
Facebook group, The Shoupistas, has more than a thousand
members. “I think the
basic idea is that we will see a lot of benefits if we get the price
of curbside parking
right, which is the lowest price a city can charge and still have
one or two vacant

spaces available on every block,” he said.
But raising prices is rarely popular. A chapter in Mr. Shoup’s
book opens with a
quote from George Costanza, the “Seinfeld” character: “My
father didn’t pay for
parking, my mother, my brother, nobody. It’s like going to a
prostitute. Why should I
pay when, if I apply myself, maybe I can get it for free?” Some
San Francisco
neighborhoods recently objected to a proposal to install meters
on streets where
parking is now free. And raising prices in the most desirable
areas raises concerns
that it will make them less accessible to the poor.
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The new San Francisco electronic parking meter helps
equilibrate supply
and demand.
CRISTINAMURACA/ SHUTTERSTOCK.COM
That was on the minds of some parkers on Drumm Street, where
the midday
occupancy rate on one block fell to 86 percent from 98 percent
after prices rose.
Edward Saldate, 55, a hairstylist who paid nearly $17 for close
to four hours of

parking there, called it “a big rip-off.”
Tom Randlett, 69, an accountant, said that he was pleased to be
able to find a spot
there for the first time, but acknowledged that the program was
“complicated on the
social equity level.”
Officials note that parking rates are cut as often as they are
raised. And Professor
Shoup said that the program would benefit many poor people,
including the many
San Franciscans who do not have cars, because all parking
revenues are used for
mass transit and any reduction in traffic will speed the buses
many people here rely
on. And he imagined a day when drivers will no longer attribute
good parking spots
to luck or karma.
“It will be taken for granted,” he said, “the way you take it for
granted that when you
go to a store you can get fresh bananas or apples.”
Source: New York Times, March 15, 2012.
Society is lucky that the planner doesn’t need to intervene.
Although it has been a useful
exercise imagining what an all-knowing, all-powerful, well-
intentioned dictator would do, let’s
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face it: Such characters are hard to come by. Dictators are
rarely benevolent, and even if we
found someone so virtuous, she would lack crucial information.
Suppose our social planner tried to choose an efficient
allocation of resources on her own,
instead of relying on market forces. To do so, she would need to
know the value of a
particular good to every potential consumer in the market and
the cost for every potential
producer. And she would need this information not only for this
market but for every one of
the many thousands of markets in the economy. The task is
practically impossible, which
explains why centrally planned economies never work very
well.
The planner’s job becomes easy, however, once she takes on a
partner: Adam Smith’s
invisible hand of the marketplace. The invisible hand takes all
the information about buyers
and sellers into account and guides everyone in the market to
the best outcome as judged
by the standard of economic efficiency. It is a truly remarkable
feat. That is why economists
so often advocate free markets as the best way to organize
economic activity.
Case Study
Should There be A Market for Organs?

Some years ago, the front page of The Boston Globe ran the
headline “How a
Mother’s Love Helped Save Two Lives.” The newspaper told
the story of Susan
Stephens, a woman whose son needed a kidney transplant. When
the doctor
learned that the mother’s kidney was not compatible, he
proposed a novel solution:
If Stephens donated one of her kidneys to a stranger, her son
would move to the top
of the kidney waiting list. The mother accepted the deal, and
soon two patients had
the transplants they were waiting for.
The ingenuity of the doctor’s proposal and the nobility of the
mother’s act cannot be
doubted. But the story raises some intriguing questions. If the
mother could trade a
kidney for a kidney, would the hospital allow her to trade a
kidney for an expensive,
experimental cancer treatment that she could not otherwise
afford? Should she be
allowed to exchange her kidney for free tuition for her son at
the hospital’s medical
school? Should she be able to sell her kidney and use the cash
to trade in her old
Chevy for a new Lexus?
As a matter of public policy, our society makes it illegal for
people to sell their
organs. In essence, in the market for organs, the government has
imposed a price
ceiling of zero. The result, as with any binding price ceiling, is
a shortage of the
good. The deal in the Stephens case did not fall under this
prohibition because no

cash changed hands.
Many economists believe that there would be large benefits to
allowing a free
market for organs. People are born with two kidneys, but they
usually need only
one. Meanwhile, some people suffer from illnesses that leave
them without any
working kidney. Despite the obvious gains from trade, the
current situation is dire:
d=56736623340014214294437671927&eISBN=9781337096577
&id=1072011620&sn… 7/8
The typical patient has to wait several years for a kidney
transplant, and every year
thousands of people die because a compatible kidney cannot be
found. If those
needing a kidney were allowed to buy one from those who have
two, the price would
rise to balance supply and demand. Sellers would be better off
with the extra cash in
their pockets. Buyers would be better off with the organ they
need to save their
lives. The shortage of kidneys would disappear.
Such a market would lead to an efficient allocation of resources,
but critics of this
plan worry about fairness. A market for organs, they argue,
would benefit the rich at
the expense of the poor because organs would then be allocated

to those most
willing and able to pay. But you can also question the fairness
of the current system.
Now, most of us walk around with an extra organ that we don’t
really need, while
some of our fellow citizens are dying to get one. Is that fair?
Ask the Experts
Supplying Kidneys
“A market that allows payment for human kidneys should be
established on a trial
basis to help extend the lives of patients with kidney disease.”
Source: IGM Economic Experts Panel, March 11, 2014.
QuickQuiz
Draw the supply and demand curves for turkey. In the
equilibrium, show
producer and consumer surplus. Explain why producing more
turkeys would
lower total surplus.
Chapter 7: Consumers, Producers, and the Efficiency of
Markets: 7-3b Evaluating the Market Equilibrium
Book Title: Principles of Microeconomics
Printed By: Alejandro Vivero ([email protected])
© 2018 Cengage Learning, Cengage Learning
© 2021 Cengage Learning Inc. All rights reserved. No part of
this work may by reproduced or used in any form or by any
means -
graphic, electronic, or mechanical, or in any other manner -
without the written permission of the copyright holder.

Mr. Tony Spacken
321 North Michigan Avenue, Suite 700
Chicago, IL 60601
312-555-0070
I understand that you are interested in a property that we are
selling. I am Tony Spacken, Sales Manager at Select National
Properties Group. We are a diversified real estate company that
develops, builds, manages and acquires properties nationwide.
Our company is focused on quality and commitment to the
environment and economic development of the areas where we
operate. Listed below are the types of properties in our
portfolio.
Select National Properties Group will use resources at our
disposal to work with you to finance the purchase of the Harvest
Properties Warehouse in which you expressed an interest. We
have calculated the monthly payment for you based on a 30-year
loan financed at 7.5% interest. The selling price and payment
are shown below.
We understand that you are interested in property in either
Florida or Georgia. We have a number of properties in both of
these states that might be of interest to you. I have provided a
list of the properties which includes the addresses as well as the
selling price.
Please let me know if you are interested in any of these
properties and would like more information on them.
I would like to thank you for your interest in the Harvest

Properties Warehouse and look forward to hearing from you on
how you would like to proceed on this property or any of the
other properties in Florida or Georgia.
Sincerely,
Tony Spacken
Sales Manager
7cc_Killgorn_Letter_sample_solution
Instructions
The Scenario:
Tony Spacken, Sales Manager, has an Excel workbook listing
properties for sale. If a property is sold, Select National
Properties Group will finance the property loan for 30 years at
7.5% interest. If the monthly payment of a property is greater
than $300,000, the company will give the buyer a 1% discount
of the selling price. Lavern Gallen is interested in purchasing
the Pleasant Properties Warehouse, one of the company's
properties. She lives at 4231 Center Drive, Tempe, TX 76501.
For this project, you will need the following files:
New blank Access database
New blank PowerPoint presentation
Gallen_Letter
Sale_Properties
You will save your files as:
Lastname_Firstname_Sale_Properties
Lastname_Firstname_SNPG_Properties
Lastname_Firstname_Gallen_Letter
Lastname_Firstname_Sales_Presentation
1. Open the file Sale_Properties, and then save the workbook as
LastnameFirstname_Sale_Properties
2. Copy the Properties worksheet to a new worksheet,
3. Rename the worksheet as Payments
4. In the Payments worksheet, convert the data to a table.
5. In column G, insert a calculated column using the PMT
function to calculate the monthly payment for each of the

properties.
6. In column H, insert a calculated column using the IF function
to determine the amount of the if discount
property qualifies for it.
7. Determine the totals for columns F:H.
8. Apply conditional formatting to cells with a selling price
between $40,000,000 and $70,000,000.
9. Copy the Payments worksheet to a new worksheet,
10. Rename the new worksheet as Pleasant Properties
11. Filter the table to display only the data for the Pleasant.
Insert your name in the footer so that it displays on all
worksheets.
12. Create a blank Access database, and then save it as
Lastname_Firstname_SNPG_Properties
13. Import the data from the Properties worksheet.
14. Create a query that displays all fields, except the ID field,
for properties located in Florida and Georgia.
15. Save the query as Lastname_Firstname_FL_GA Query
16. Export the query result as an RTF file
17. Create another query that displays all fields, except the ID
field, for all properties with selling prices less than $1,000,000.
18. Save the query as Lastname Firstname Price Query
19. For each query, create and format a report.
20. Save each report with the name as the query, substituting
the word Report for Query.
21. Create a PowerPoint presentation using a template of your
choice; the presentation will be shown to prospective buyers
attending a sales conference.
22. Save the presentation as
Lastname_Firstname_Sales_Presentation
23. Insert the file name in the footer to display on all pages of
the notes and handouts.
24. Modify the slides to help persuade buyers to purchase
property from Select National Properties Group:
25. On one slide, inform the audience that the company sells
many properties.

26. On the same slide, link the cell from the Excel Payments
worksheet that displays the total selling price.
27. On a new slide, insert a SmartArt graphic that lists some of
the different types of properties that the company develops and
manages.
28. At the end of the presentation, insert a slide that contains
the contact information for Mr. Spacken.
29. Insert additional text, pictures, and clip art to enhance the
presentation.
30. Format any text or other objects to create a professional
appearance.
31. Open the file Gallen_Letter, and then save as
Lastname_Firstname_Gallen_Letter
32. Insert the file name in the footer.
33. Format the letterhead for Mr. Tony Spacken.
34. Insert the current date, and then insert Lavern Gallen's name
and address and a proper salutation.
35. Following the first paragraph, copy the SmartArt graphic
from your presentation to the letter, changing text wrapping and
resizing as necessary.
36. Following the second paragraph, from Excel, on the Pleasant
Properties worksheet, link cells F1:G38 (first and second row)
to the Word document.
37. Under the third paragraph, insert the RTF file listing the
Florida and Georgia properties.
38. Format the document to create a professional appearance.
1.
Upload the completed assignment files in the Assignment area.
· Special Instructions: Use the Supporting Materials below to
complete the project.
· Grading: Please review the rubrics for particulars.
Grading Rubrics
Performance Level
Exemplary
Accomplished
Developing

Beginning
Points
Performance Element
You consistently applied the relevant skills.
You mostly applied the relevant skills.
You sometimes, but not always, applied the relevant skills.
You rarely or never applied the relevant skills.
10/10
Insert PMT and IF functions
The PMT and IF functions are inserted, and the correct values
display
The PMT function or IF function is inserted, or some values do
not display correctly
The PMT function or IF function is not inserted, and most
values do not display correctly
The PMT function and the IF function are not inserted
Exemplary 10
Accomplished 7-9
Developing 4-6
Beginning 0-3
Points:
Create two reports from queries
The reports are created and display the correct data
One report is not created, or some data in either report does not
display correctly
Neither report is created
Neither report is created
Exemplary 10
Accomplished 7-9
Developing 4-6
Beginning 0-3
Points:
Insert text and objects in a letter
All text and objects are inserted appropriately
One item is not inserted appropriately
At least two items are not inserted appropriately

No items are inserted appropriately
Exemplary 10
Accomplished 7-9
Developing 4-6
Beginning 0-3
Points:
Create a SmartArt graphic
The SmartArt graphic is created and displays the correct
information
The SmartArt graphic is created, and most information is
correct
The SmartArt graphic is created, but not all information is
correct
The SmartArt graphic is not created
Exemplary 10
Accomplished 7-9
Developing 4-6
Beginning 0-3
Points:
Insert text and objects in a presentation
All text and objects are inserted appropriately
Most text and objects are inserted appropriately
Some items are inserted appropriately
No items are inserted appropriately
Exemplary 10
Accomplished 7-9
Developing 4-6
Beginning 0-3
Points:

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