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- 1. 1 2 Insert Title Here Insert Your Name Here Insert University Here Course Name Here Instructor Name Date Data Analysis: Hypothesis Testing Use the Sun Coast Remediation data set to conduct a correlation analysis, simple regression analysis, and multiple regression analysis using the correlation tab, simple regression tab, and multiple regression tab respectively. The statistical output tables should be cut and pasted from Excel directly into the final project document. For the regression hypotheses, display and discuss the predictive regression equations if the models are statistically significant. Delete instructions and examples highlighted in yellow before submitting this assignment. Correlation: Hypothesis Testing Restate the hypotheses from Unit II here. Example: Ho1: There is no statistically significant relationship between height and weight. Ha1:There is a statistically significant relationship between height and weight. Enter data output results from Excel Toolpak here. Interpret and explain the correlation analysis results below the Excel output. Your explanation should include: r, r2, alpha
- 2. level, p value, and rejection or acceptance of the null hypothesis and alternative hypothesis. Example: The Pearson correlation coefficient of r = .600 indicates a moderately strong positive correlation. This equates to an r2 of .36, explaining 36% of the variance between the variables. Using an alpha of .05, the results indicate a p value of .023 < .05. Therefore, the null hypothesis is rejected, and the alternative hypothesis is accepted that there is a statistically significant relationship between height and weight. Note: Excel data analysis Toolpak does not automatically calculate the p value when using the correlation function. As a workaround, the data should also be run using the regression function. The Multiple R is identical to the Pearson r in simple regression, R Square is shown, and the p value is generated. Be sure to show your results using both the correlation function and simple regression function. Simple Regression: Hypothesis Testing Restate the hypotheses from Unit II here. Ho2: Ha2: Enter data output results from Excel Toolpak here. Interpret and explain the simple regression analysis results below the Excel output. Your explanation should include: multiple R, R squared, alpha level, ANOVA F value, accept or reject the null and alternative hypotheses for the model, statistical significance of the x variable coefficient, and the regression model as an equation with explanation. Multiple Regression: Hypothesis Testing Restate the hypotheses from Unit II here. Ho3: Ha3: Enter data output results from Excel Toolpak here. Interpret and explain the simple regression analysis results below the Excel output. Your explanation should include multiple R, R squared, alpha level, ANOVA F value, accept or
- 3. reject the null and alternative hypotheses for the model, statistical significance of the x variable coefficients, and the regression model as an equation with explanation. References Include references here using hanging indentations. Remember to remove this example. Creswell, J. W., & Creswell, J. D. (2018). Research design: Qualitative, quantitative, and mixed methods approaches (5th ed.). SAGE. 2 Formative process The first step in budgeting is creating the goals for the school. This entail establishing the number of students admitted, facilities needed and the number of workers (skilled and unskilled) needed in the institution. This is a very important step. The second step is to determine how much the institution has in the bank account. This is meant to help establish how much will be needed (Borough of Staten Island, 2019). The third step is projecting the expected income or revenue. This could be obtained from tuition fees, or from the government grants. The fourth step is to categorize spending.
- 4. This where the priorities are made on what is needed and what can wait. The last step is to create the budget spread sheet. Challenges There are many challenges that are encounter when making budgets for any company, small or large. First, there is the change in prices of items because of many forces in the market. It has been known that minimum wages keep on changing from one state to another for one reason or another. Price of items can change because of forces of supply and demand. This is true especially where the trade wars are common. For instance, in the past administration, there was heavy levies on all goods imported from certain countries. This increases the cost of stationary and other learning materials. Changes in prices and cost of operation requires the management to draw supplementary budget which increases the cost incurred. Inflation is hard to account for when drawing the budget. While the government makes effort to keep the inflation rate very low, there are things that causes the inflation increase significantly. Things affect by inflation is the cost of utilities such as the water, fuel, and electricity ( Potter,Barry, H., & Diamond, 2014). Assumptions The assumptions are important when making budgets. The first assumption is that the prices of the items in the budget including the labor will not change. This will help setting prices for all the items needed. The other assumption is that there will be no interruption during the scheduled learning time table. Disruption could be due natural disasters or pandemic such as the COVID-19. Disruption fatally affects the anticipated sources of income even when the recurrent costs are incurred. For instance, during the pandemic, some workers had to be paid even when there were no schools. The other assumption is that there will be no policy changes from the government that will affect tuition fees or how the government grants are to be spend.
- 5. A statement of budgetary priorities. 1. The general reserve for the school should always be maintained at 12% 2. The activities that are supported by the student should be fully recoverable. 3. The budget development should be support by long term budget plan. 4. The ongoing expenditures in school should be supported by the income revenues from tuition fees and government grants. 5. Once a budget is adopted, it should be amended only when there are emergencies. The first basic principle of the school budgeting framework is very important in funding the school priorities. The funding formula and its purpose The main source of the revenue is the tuition fees from the students. The high tuition fees charged the students when used well can fundamentally support all ongoing school operations. From the tuition fees, the board can pay the teachers, buy learning materials pay utilities and pay for the field trips and studies. Also, the equipment needed for technical courses and sciences can be bought using this money ( Potter,Barry, H., & Diamond, 2014). The second source of funds is the government grants. The good thing is that there is annual state budget allocation to support learning in various institutions. While the grants may have limited uses according the federal and state laws, they help ease the burden of the operation costs. Lastly there is the money from non-government organizations and donors. This money is not limited like the government grants are. However, it is a requirement by the law for the institutions to report whatever amount of money they receive from donors. Most of the time, this money is used to buy equipment, and sometimes hire teachers and technicians. Expenditures and bonds When the expenditures are more than what the revenue can
- 6. provide, the bonds can be used to fund the operations. Such bonds can be issued public. They could have coupon or can be zero coupon depending on what the board determines (Borough of Staten Island, 2019). Long range planning The goal of every school is to make enough revenue to support its operation. To achieve this, most of the money is spend on the education related things such as hiring teachers, buying equipment among others. Highly performing school gets better chances of having more students and receiving more grants from the government. Therefore, the goal should be to get more students through high performance in classes and in the fields. Prediction of responses Since the worst case scenario is occurrence of activities that can paralyze learning operation, the school ought to have good credit scores so it can borrow from the financial institutions and from the public. References Borough of Staten Island. (2019). Statement of budget priorities: Fiscal year 1992. New York, NY. In Potter,Barry, H., & In Diamond,A, J. (2014). Guidelines for Public Expenditure Management. Washington: International Monetary Fund.
- 7. Budget Worksheet and Template Use this sheet to calculate prior year (PY) and current year (CY) revenue, expenditures, fund balances, operational balances, and budget balance. You may move or add items as necessary. No. of students (_20_) x ($_45000______ / student) = State foundation funding = _$ 900000_______ Local Taxes Amount Quantity of maintenance and operation mills $ 20,778.74 Quantity of debt service mills $ 18,344.71 Quantity of capital outlay mills $ 48,364.81 Total millage $ 87,488.27 Assessed valuation $ 4,374.41 Bonded debt $ 874.88 Fund 1: Salary Category PY Actual CY Budget Beginning balance
- 8. $ - $ - Total revenue $ - $ - Total expenditure $ 36,682.57 $ 10,465.40 Total transfers $ 45,729.69 $ 20,203.05 Ending balance $ 26.42 $ 33,856.61 Full-time equivalents $ 1,815.00 $ 1,815.00 Average teacher salary $ 45,897.00 $ 45,897.00 Fund 2: Operating Category PY Actual CY Budget Beginning balance $ 20,778.74 $ 37,001.63 Total revenue $ 18,344.71 $ 10,361.74 Total expenditure $ 43,691.04 $ 36,409.40 Total transfers $ 1,675.48 $ 14,741.61
- 9. Ending balance $ 20,778.74 $ 37,001.63 Fund 3: Building and Construction Category PY Actual CY Budget Beginning balance $ 15,798.48 $ 52,327.39 Total revenue $ 56,530.37 $ 32,367.10 Total expenditure $ 18,393.87 $ 48,364.81 Total transfers $ 14,450.37 $ 66,172.57 Ending balance—building and construction is part of capital outlay $ 24,704.53 $ 63,831.32 Fund 4: Debt Service Category PY Actual CY Budget Beginning balance $ 6,727.40 $ 6,338.98 Total revenue $ 7,725.85 $ 2,698.38 Total expenditure $ 8,072.47 $ 8,902.07
- 10. Total transfers $ 5,094.65 $ 3,179.96 Ending balance $ 1,264.44 $ 7,767.23 Fund 5: Capital Outlay Category PY Actual CY Budget Beginning balance $ 38,566.77 $ 14,388.16 Total revenue $ 68,906.19 $ 72,184.90 Total expenditure $ 11,742.63 $ 84,269.62 Total transfers $ 70,837.26 $ 35,172.75 Ending balance $ 3,529.52 $ 3,192.50 Fund 6: Federal Grants Category PY Actual CY Budget Beginning balance $ 3,683.89 $ 1,008.64 Total revenue $ 2,183.23 $ 4,100.90 Total expenditure
- 11. $ 6,744.33 $ 8,934.86 Total transfers $ 132.39 $ 8,834.16 Ending balance $ 5,241.74 $ 6,929.77 Fund 7: Activity Category PY Actual CY Budget Beginning balance $ 748.12 $ 4,552.27 Total revenue $ 3,823.13 $ 1,330.13 Total expenditure $ 2,651.41 $ 1,196.18 Total transfers $ 3,951.42 $ 2,917.25 Ending balance $ 4,527.15 $ 2,584.81 Fund 8: Food Service Category PY Actual CY Budget Beginning balance $ 161.72 $ 151.77 Total revenue $ 345.33
- 12. $ 793.15 Total expenditure $ 626.58 $ 968.87 Total transfers $ 714.94 $ 500.02 Ending balance $ 63.07 $ 242.82 Fund 9: Fixed Assets Category PY Actual CY Budget Beginning balance $295,159.70 $499,715.25 Total revenue $203,680.95 $197,467.44 Total expenditure $338,885.52 $402,676.46 Total transfers $135,092.53 $239,172.85 Ending balance $120,076.41 $342,940.95 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Remodeling Category
- 13. PY Actual CY Budget Beginning balance $3,472.03 $4,651.52 Total revenue $0.00 $0.00 Total expenditure $3,534.00 $691.64 Total transfers $3,116.25 $514.36 Ending balance $1,109.81 $4,089.91 Renovations Category PY Actual CY Budget Beginning balance $371.64 $174.68 Total revenue $0.00 $0.00 Total expenditure $1,642.54 $3,975.96 Total transfers $3,772.39 $2,259.04 Ending balance $4,728.80
- 14. $4,161.72 Installation of service system Category PY Actual CY Budget Beginning balance $621.18 $1,345.02 Total revenue $0.00 $194.41 Total expenditure $341.08 $265.70 Total transfers $357.41 $470.52 Ending balance $1,319.02 $466.21 Land and building improvement Category PY Actual CY Budget Beginning balance $1,159.45 $14,449.95 Total revenue $0.00 $0.00 Total expenditure $13,777.05 $1,835.24 Total transfers
- 15. $11,369.13 $148.64 Ending balance $10,440.75 $1,266.49 Purchasing buildings, vehicles, lawnmower and furniture Category PY Actual CY Budget Beginning balance $25,868.36 $25,258.21 Total revenue $0.00 $0.00 Total expenditure $22,838.84 $4,416.45 Total transfers $12,187.97 $38,841.99 Ending balance $20,086.22 $38,594.93