Machine Learning

CS | 102 | Machine Learning | 

Accounting in Action 1 - 3 SUMMARY OF STUDY OBJECTIVES BY QUESTION TYPE Study Objective 7 27. TF 108. MC 113. MC 118. MC 162. MC 187. Ex 192. Ex 28. TF 109. MC 114. MC 119. MC 170. BE 188. Ex 193. Ex 29. TF 110. MC 115. MC 120. MC 184. Ex 189. Ex 30. TF 111. MC 116. MC 121. MC 185. Ex 190. Ex 39. TF 112. MC 117. MC 161. MC 186. Ex 191. Ex Study Objective 8 31. TF 126. MC 133. MC 140. MC 147. MC 172. BE 198. Ex 32. TF 127. MC 134. MC 141. MC 148. MC 173. BE 199. Ex 40. TF 128. MC 135. MC 142. MC 149. MC 174. BE 200. Ex 122. MC 129. MC 136. MC 143. MC 150. MC 194. Ex 201. Ex 123. MC 130. MC 137. MC 144. MC 151. MC 195. Ex 211. C 124. MC 131. MC 138. MC 145. MC 163. MC 196. Ex 125. MC 132. MC 139. MC 146. MC 171. BE 197. Ex Study Objective 9 a 55. MC a 56. MC a 57. MC a 58. MC Note: TF = True-False BE = Brief Exercise C = Completion MC = Multiple Choice Ex = Exercise The chapter also contains one set of ten Matching questions and six Short-Answer Essay questions. CHAPTER STUDY OBJECTIVES 1. Explain what accounting is. Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. 2. Identify the users and uses of accounting. The major users and uses of accounting are: (a) Management uses accounting information in planning, controlling, and evaluating business operations. (b) Investors (owners) decide whether to buy, hold, or sell their financial interests on the basis of accounting data. (c) Creditors (suppliers and bankers) evaluate the risks of granting credit or lending money on the basis of accounting information. Other groups that use accounting information are taxing authorities, regulatory agencies, customers, labor unions, and economic planners. 3. Understand why ethics is a fundamental business concept. Ethics are the standards of conduct by which actions are judged as right or wrong. If you cannot depend on the honesty of the individuals you deal with, effective communication and economic activity would be impossible, and information would have no credibility. 4. Explain generally accepted accounting principles and the cost principle. Generally accepted accounting principles are a common set of standards used by accountants. The cost principle states that companies should record assets at their cost. 5. Explain the monetary unit assumption and the economic entity assumption. The monetary unit assumption requires that companies include in the accounting records only transaction data that can be expressed in terms of money. The economic entity assumption

CS | 102 | Machine Learning | Accounting in Action 1 - 3 SUM

Quiz 5: VERSION A Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) What makes the Federal Reserve so unique compared to other central banks around the world is its _________. A) decentralized structure. B) monetary policy functions. C) regulatory functions. D) centralized structure. 2) Which of the following is an entity of the Federal Reserve System? _________ A) The FDIC B) The U.S. Treasury Secretary C) The FOMC D) The Comptroller of the Currency 3) The Federal Reserve Banks are ________ institutions since they are owned by the ________. A) quasi-public; Board of Governors B) public; private commercial banks in the district where the Reserve Bank is located C) public; Board of Governors D) quasi-public; private commercial banks in the district where the Reserve Bank is located 4) The nine directors of the Federal Reserve Banks are split into three categories: ________ are professional bankers, ________ are leaders from industry, and ________ are to represent the public interest and are not allowed to be officers, employees, or stockholders of banks. A) 5; 2; 2 B) 4; 2; 3 C) 3; 3; 3 D) 2; 5; 2 5) Member commercial banks have purchased stock in their district Fed banks; the dividend paid by that stock is limited by law to ________ percent annually. A) four B) five C) six D) eight 6) The Federal Reserve Bank of ________ plays a special role in the Federal Reserve System because it houses the open market desk. A) New York B) San Francisco C) Boston D) Chicago 7) Members of the Board of Governors are _________. A) appointed by the president of the United States and confirmed by the Senate. B) chosen by the Federal Reserve Bank presidents. C) never allowed to serve more than 7-year terms. D) appointed by the newly elected president of the United States, as are cabinet positions. 8) The Federal Reserve entity that makes decisions regarding the conduct of open market operations is the _________. A) Federal Open Market Committee. B) Board of Governors. C) Open Market Advisory Council D) chairman of the Board of Governors. 9) The Federal Open Market Committee consists of the _________. A) seven members of the Board of Governors and seven presidents of the regional Fed banks. B) five senior members of the seven-member Board of Governors. C) seven members of the Board of Governors and five presidents of the regional Fed banks. D) twelve regional Fed bank presidents and the chairman of the Board of Governors. 10) The case for Federal Reserve independence does not include the idea that ________. A) political pressure would impart an inflationary bias to monetary policy. B) policy is always performed better by an elite group such as the Fed. C) a politically insulated Fed would be more concerned with long-run objectives and thus be a defender of a sound dollar and a stable price level. D) a Federal Reserve under the control of Congress or the president might make the so-called political business cycle more pronounced. 11) Recent research indicates that inflation performance (low inflation) has been found to be best in countries with ________. A) a policy of always keeping interest rates low. B) money financing of budget deficits. C) political control of monetary policy. D) the most independent central banks. 12) The three players in the money supply process include A) banks, depositors, and borrowers. B) banks, depositors, and the central bank. C) banks, borrowers, and the central bank. D) banks, depositors, and the U.S. Treasury. 13) Both ________ and ________ are Federal Reserve assets. A) securities; reserves B) currency in circulation; reserves C) securities; loans to financial institutions D) currency in circulation; securities 14) The monetary base consists of ________. A) currency in circulation and the U.S. Treasury's monetary liabilities. B) currency in circulation and reserves. C) currency in circulation and Federal Reserve notes. D) reserves and Federal Reserve Notes. 15) Total reserves are the sum of ________ and ________. A) required reserves; currency in circulation B) excess reserves; borrowed reserves C) excess reserves; required reserves D) vault cash; excess reserves

CS | 102 | Machine Learning | Quiz 5: VERSION A Name__

Answers to Quiz 3 ECON 3M03 Spring 09 1. A market has two firms, firm L and firm H. They both simultaneously choose quantities of output ( and L q H q respectively). Their output is pooled and sold to competitive buyers at the market clearing price: ( ) 30 L H P q q = − + . Firm L's total cost of production is 3 and firm H's total cost of production is higher at 6 . The firms' payoffs are their profits (revenue minus costs). What are the firms' best responses? What is the Nash equilibrium? L q L q ( ) ( ) ( ) ( ) ( ) { } ( ) ( ) { } ( ) 2 27 1 2 2 27 1 2 2 2 1 2 1 2 27 1 2 2 27 15 1 1 1 2 2 2 2 4 1 2 3 30 3 27 27 2 0 max 0, 24 24 2 0 12 max 0,12 12 12 10 L L L H L H L L H L L H L L H H H L H H H L H H L H H L L L H L L H L L H u P q q q q q q q u q q q q q BR q q u q q q u q q q q q BR q q q q q q q q q q q = − = − + − = − − ∂ = − − = ⇒ = − ∂ = − = − − ∂ = − − = ⇒ = − ∂ = − = − ⎫ ⇒ = − − = + ⎬ = − ⎭ = L L ( ) 1 1 2 2 12 12 10 7 L q = − = − = So the Nash equilibrium is ( ) ( ) , 7,1 H L q q = 0 2. One evening there are 10 people living in an apartment building who can all hear a crime being committed outside. They must each independently decide whether or not to call the police. Each person gets a payoff of zero if no one calls the police, a payoff of x (where 1 x > ) if someone else calls the police, and a payoff of 1 x − if they call the police themselves. Interpreting x as a measure of the severity of the crime (so that larger x means a more serious crime and thus people are happier if it is stopped) are more serious crimes more likely to result in someone calling the police (at the symmetric mixed- strategy Nash equilibrium)? [ ] [ ] [ ] [ [ ] ( ) [ ] 1 Call, Don't Call, 1 Pr Someone Else Calls 0 Pr No One Else Calls 1 1 Pr No One Else Calls Pr No One Else Calls i i i i u s u s x x x x x − − − = − = + − = − = ] Defining p as the probability a given individual doesn't call at the Nash equilibrium: 9 1 1 9 p x p x − − = = Defining P as the probability that someone calls at the Nash equilibrium: 10 10 9 19 9 1 1 10 0 9 P p x P x x − − = − = − ∂ = > ∂ So as the severity of the crime increases (i.e. as x increases) the probability that someone calls increases.

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