Lester Hollar is vice president for human resources for a large manufacturing company. In recent years, he has noticed an increase in absenteeism that he thinks is related to the general health of the employees. Four years ago, in an attempt to improve the situation, he began a fitness program in which employees exercise during their lunch hour. To evaluate the program, he selected a random sample of eight participants and found the number of days each was absent in the 6 months before the exercise program began and in the 6 months following the exercise program. Following are the results. Employee Before After
1 5 5
2 5 3
3 6 3
4 5 2
5 4 2
6 7 6
7 5 4
8 5 7
At the 0.010 significance level, can he conclude that the number of absences has declined?

a. What are the null and alternate hypotheses?

multiple choice 1
H0: μBefore − μAfter = μd ≤ 0 H1: μd > 0
H0: μBefore − μAfter = μd ≤ 0 H1: μd < 0
H0: μBefore − μAfter = μd ≥ 0 H1: μd > 0
b. Compute the test statistic. (Round your answer to 3 decimal places.)

c. Compute the p-value. NOTE: P-value calculators are available through online search. (Round your answer to 4 decimal places.)
d. What is your decision regarding the null hypothesis?

multiple choice 2
Reject H0
Do not reject H0

e. Interpret the result.
We evidence the change reduced absences.

Afirm's before-tax cost of debt, rd, is the interest rate that the firm must pay on debt. because interest is tax deductible, the relevant cost of debt used to calculate a firm's wacc is the cost of debt, rd (1 – t). the cost of debt is used in calculating the wacc because we are interested in maximizing the value of the firm's stock, and the stock price depends on cash flows. it is important to emphasize that the cost of debt is the interest rate on debt, not debt because our primary concern with the cost of capital is its use in capital budgeting decisions. the rate at which the firm has borrowed in the past is because we need to know the cost of capital. for these reasons, the on outstanding debt (which reflects current market conditions) is a better measure of the cost of debt than the . the on the company's -term debt is generally used to calculate the cost of debt because more often than not, the capital is being raised to fund -term projects. quantitative problem: 5 years ago, barton industries issued 25-year noncallable, semiannual bonds with a $1,600 face value and a 8% coupon, semiannual payment ($64 payment every 6 months). the bonds currently sell for $845.87. if the firm's marginal tax rate is 40%, what is the firm's after-tax cost of debt? round your answer to 2 decimal places. do not round intermediate calcu

Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)

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