Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs:

For example, electricity costs are $1,300 per month plus $0.10 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.30 per car washed.

The actual operating results for August appear below.

For the amusement of the guests, some hotels have elevators on the outside of the building. One such hotel is 300 feet high. You are standing by a window 100 feet above the ground and 150 feet away from the hotel, and the elevator descends at a constant speed of 30 ft/sec, starting at time

t = 0,

where t is time in seconds. Let θ be the angle between the line of your horizon and your line of sight to the elevator.

(a) Find a formula for

h(t),

the elevator's height above the ground as it descends from the top of the hotel.
h(t) =  

  

(b) Using your answer to part (a), express θ as a function of time

t.

θ(t) =  

tan−1(2−t5​)

Find the rate of change of θ with respect to t.

=  

(c) The rate of change of θ is a measure of how fast the elevator appears to you to be moving. At what height is the elevator when it appears to be moving fastest?
h =  

Park Corporation is planning to issue bonds with a face value of $700,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare the journal entry to record the interest payment on June 30 of this year.

3. What bond payable amount will Park report on its June 30 balance sheet?

Milky entered into a contract for the hire of 6 rooms in New Castle Hotel in    Kowloon West. The purpose of the contract was to watch the fireworks gala in the Victoria Harbour on the 1st July (Reunification Day) through the windows of the rooms. Milky planned to invite her close friends and their families to stay in the 6 rooms to enjoy the fireworks. Just two hours before start of the fireworks, the Hong Kong Police Force received a serious threat from some terrorist organizations that they would launch large scale attack to the crowds who gathered to watch the fireworks. The Hong Kong Government immediate ordered the cancellation of the fireworks and gave an order that this kind of gala will not be launched at least for five years. Milky, having already paid a deposit, refused to pay the balance of the room charges. The hotel took legal action to recover the balance.

Required:

Analyse the chance of success by the hotel and explain in detail the legal principles that you base on for analysis.

A common room pricing strategy used by hotels is to price each day for which this room can be reserved, as discussed in the lecture. The price of a stay is then the sum of the day prices spanned by the stay (i.e., checkin and checkout dates). Full-service airlines, as you may already know, typically price itineraries. a. Explain the differences between day pricing of hotel rooms and the pricing of airline itineraries? (i.e. What is the product?, What is the resource?, and What is being priced?) b. Consider the purchase of a customized laptop on Dell’s website. Customization involves choosing laptop components that have different price points. The choice of components determines the ultimate price of the laptop. Explain why the day pricing of hotel rooms is a special case of the problem of pricing laptop components being shown to customers in Dell’s website. c. Why is Dell’s pricing problem more complicated than the pricing problem faced by a hotel?

Use the code below as the basis for a hotel reservation system (HRS). The customer calls the hotel front desk to book a room. The front desk is running your software on one of its computers. The basic operations available are:

1. book one room,
2. book two adjoining rooms,
3. list all unoccupied rooms,
4. list all occupied rooms,
5. help lists information about available methods,
6. report percent of hotel rooms that are unoccupied,
7. quit the system (shut the system down).

The people at the front desk choose a particular operation, typically in response to a phone call.

Start by modularizing the existing program code below as follows. Create a method from the welcome message (and call this new method from main). Next, create a method from the end message (and also call it from main). Finally, create a method from the help information (and call from main too).

Now we'll implement the methods of the HRS. A new method, bookOneRoom, should randomly book one room when 'b' or 'B' is pressed. Once a room is chosen, it should call bookARoom to indicate that the room is now booked. A new method, bookTwoRooms, should randomly book two rooms when '2' is pressed. It should call bookARoom (twice). Also, write a method that lists (prints out) the room numbers of all of the unoccupied rooms (when the user presses 'l' - lowercase L). Similarly, write a method that lists (prints out) the room nummbers of all of the occupied rooms (when 'L' is entered). Finally, write a method that reports the percentage of the hotel rooms that are unoccupied. This method should use the existing occupiedCount method.

Note: Every method should be preceeded by a comment that explains what the method does.

Summary of what to submit:

A properly commented, indented, and working program.

/*
file:      HRS.java
author:    < your-name-here >
desc.:     Hotel Reservation System (HRS)
*/
import  java.util.Scanner;

class HRS {

    final static int      N = 101;
    final static boolean  Occupied = true;
    //------------------------------------------------------------
    //program initialization
    static void initialize ( boolean[] rooms ) {
        for (int i=0; i<rooms.length; i++)
            rooms[i] = !Occupied;
    }
    //------------------------------------------------------------
    //book a particular room
    static void bookARoom ( int rm, boolean[] rooms ) {
        assert( rooms[rm] == !Occupied );  //cause boom if bad
        rooms[ rm ] = Occupied;
    }
    //------------------------------------------------------------
    //determine how many rooms are occupied in our hotel
    static int occupiedCount ( boolean[] rooms ) {
        int  count = 0;
        for (int i=1; i<rooms.length; i++) {
            if (rooms[i])    ++count;
        }
        return count;
    }
    //------------------------------------------------------------
    //it all starts here
    public static void main ( String[] args ) {
        //say hello
        System.out.println();
        System.out.println( "Welcome to HRS (Hotel Reservation System)." );
        System.out.println();

        boolean[]  hotel = new boolean[ N ];
        initialize( hotel );
        Scanner  kbd = new Scanner( System.in );
        boolean  timeToQuit = false;
        while (!timeToQuit) {
            //prompt for and read a command
            System.out.print( "HRS --> " );
            String  command = kbd.nextLine();

            //process the command
            if (command.equalsIgnoreCase("q")) {
                timeToQuit = true;
            } else if (command.equals("?")) {
                System.out.println();
                System.out.println( "Enter..." );
                System.out.println( "    2     to book two adjoining rooms" );
                System.out.println( "    b/B   to book a single room" );
                System.out.println( "    l     to list all unoccupied rooms" );
                System.out.println( "    L     to list all occupied rooms" );
                System.out.println( "    h/H/? for help" );
                System.out.println( "    p/P   for percent unoccupied" );
                System.out.println( "    q/Q   to quit" );
                System.out.println();
            } else {
                System.out.println( "    Please enter a valid command." );
            }
        }

        //say goodbye
        System.out.println();
        System.out.println( "Thanks for using HRS!" );
        System.out.println();
    }
}

1. “Almost no local sporting enclaves are completely independent of the globalization of sport and, indeed, today’s constant penetration of the global into the local has already resulted in a great deal of integration and hybridization of the two at a local level."

(With reference to specific sporting examples, critically discuss this assertion that globalization has had a near total impact on sport and conclude by thinking about this claim in a post-COVID-19 world.)

HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 15 properties with an average of 210 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 80 percent, based on a 365-day year. The average room rate was $190 for a night. The basic unit of operation is the "night," which is one room occupied for one night.

The operating income for year 1 is as follows:

HomeSuites Operating Income Year 1 Sales revenue Lodging $ 138,020,000 Food & beverage 29,433,600 Miscellaneous 10,117,800 Total revenues $ 177,571,400 Costs Labor $ 61,263,000 Food & beverage 18,396,000 Miscellaneous 11,957,400 Management 2,505,000 Utilities, etc. 36,000,000 Depreciation 13,500,000 Marketing 10,000,000 Other costs 2,500,000 Total costs $ 156,121,400 Operating profit $ 21,450,000

In year 1, the average fixed labor cost was $405,000 per property. The remaining labor cost was variable with respect to the number of nights. Food and beverage cost and miscellaneous cost are all variable with respect to the number of nights. Utilities and depreciation are fixed for each property. The remaining costs (management, marketing, and other costs) are fixed for the firm.

At the beginning of year 2, HomeSuites will open five new properties with no change in the average number of rooms per property. The occupancy rate is expected to remain at 80 percent. Management has made the following additional assumptions for year 2:

The average room rate will increase by 10 percent.

Food and beverage revenues per night are expected to decline by 25 percent with no change in the cost.

The labor cost (both the fixed per property and variable portion) is not expected to change.

The miscellaneous cost for the room is expected to increase by 30 percent, with no change in the miscellaneous revenues per room.

Utilities and depreciation costs (per property) are forecast to remain unchanged.

Management costs will increase by 5 percent, and marketing costs will increase by 5 percent.

Other costs are not expected to change.

Required:

Prepare the budgeted income statement for year 2. (Round your per unit average cost calculations to 2 decimal places.)

Home Suites

Operating Income

Year 2

Sales Revenue

Lodging

Food and Beverage

MISC

Total Revenues

Costs

Labor

Food and Beverage

MISC

Management

Utilities, ECT

Depreciation

Marketing

Other Costs

Total Costs

Operating Profit

3. Profit maximization using total cost and total revenue curves

Suppose Ana runs a small business that manufactures shirts. Assume that the market for shirts is a competitive market, and the market price is $20 per shirt.

The following graph shows Ana's total cost curve.

Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for shirts quantities zero through seven (inclusive) that Ana produces.

Calculate Ana's marginal revenue and marginal cost for the first seven shirts she produces, and plot them on the following graph. Use the blue points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost at each quantity.

Ana's profit is maximized when she producesshirts. When she does this, the marginal cost of the last shirt she produces is, which is (less or greater) than the price Ana receives for each shirt she sells. The marginal cost of producing an additional shirt (that is, one more shirt than would maximize her profit) is, which is (Greater or less) than the price Ana receives for each shirt she sells. Therefore, Ana's profit-maximizing quantity corresponds to the intersection of the   curves. Because Ana is a price taker, this last condition can also be written as   .

1.A monopolist maximizes profit at the output rate where its total revenue equals total cost.

True

False

2. To maximize profit, the perfectly competitive firm charges a price equal to __________ while the monopolist charges a price __________.

marginal revenue; equal to marginal cost

marginal cost; greater than marginal cost

marginal revenue; less than marginal revenue

average total cost; greater than average total cost

3.Compared to the perfectly competitive firm, the monopolist faces a demand curve that is ___________________ elastic because there are ______________ substitutes for the product produced by the monopolist.

less; fewer

less; more

more; fewer

more; more