You are a manager working for an insurance company. Your job entails processing individual claims filed by policyholders. In general, most claims are relatively minor, costwise, but a few are quite expensive. Each quarter, you compile a report summarizing key claims statistics that includes the number of claims submitted, the mean cost per claim, the median cost per claim, the proportion of claims being litigated, the number of emergency procedures, the proportion of men versus women, and the average age of claimants. Your measures are computed separately for the southern and northern regions, and you are interested in determining whether or not there are statistically significant differences between the two regions on each of the aforementioned measures. Evaluate which comparisons would require the use of the t-test and which would use the chi-squared test. Explain your answers. Support your discussion with relevant examples, research, and rationale.

The gilbert instrument corporation is considering replacing the wood steamer it currently uses to shape guitar sides. the steamer has 6 years of remaining life. if kept,the steamer will have depreciaiton expenses of $650 for five years and $325 for the sixthyear. its current book value is $3,575, and it can be sold on an internet auction site for$4,150 at this time. if the old steamer is not replaced, it can be sold for $800 at the endof its useful life. gilbert is considering purchasing the side steamer 3000, a higher-end steamer, whichcosts $12,000 and has an estimated useful life of 6 years with an estimated salvage value of$1,500. this steamer falls into the macrs 5-year class, so the applicable depreciationrates are 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%. the new steamer is fasterand allows for an output expansion, so sales would rise by $2,000 per year; the newmachine's much greater efficiency would reduce operating expenses by $1,900 per year.to support the greater sales, the new machine would require that inventories increase by$2,900, but accounts payable would simultaneously increase by $700. gilbert's marginalfederal-plus-state tax rate is 40%, and its wacc is 15%.a. should it replace the old steamer? b. npv of replace = $2,083.51