You have three tickets to a Celtics game on a night that you are going to be out of town (so the value of unsold tickets is zero to you). There are only four possible buyers of a Celtics ticket. The table below lists the respective reservation prices of these four possible buyers: Customer Reservation Price 1 $25 2 $35 3 $50 4 $60 How much revenue can you generate if you charge a single price of $25 for the three tickets?

a) How much revenue can you generate if you charge a single price of $35 for the three tickets?

b). How much revenue can you generate if you charge a single price of $50 for the three tickets?

c) How much revenue can you generate if you charge a single price of $60 for the three tickets?

d) Which of the prices fetches you the highest revenue?

e) Next, you think about inviting bids using an English auction to sell your tickets. How much revenue can you generate using the English auction mechanism from the sale of the first ticket?

f) How much revenue can you generate using the English auction mechanism from the sale of the second ticket?

g) How much revenue can you generate using the English auction mechanism from the sale of the third ticket?

h) How much total revenue can you generate using the English auction mechanism?

i) Which pricing strategy gives you higher revenue - English Auction or charging a single price?

Deflation refers to the phenomenon of a negative inflation rate. (In 2004, the inflation rate was negative in Hong Kong and we say Hong Kong suffered deflation in 2004.) Many people regard deflation as bad. Can you explain why? Is deflation sometimes good (at least for some people)? (6%)

Q2

People complained about ‘negative real interest rates’ in the early 1990s, and again since 2009. Can real interest rates be negative? How can that be so? (4%)

1.) Company Zeta bought new office furniture in the year 2000. The purchase cost was 62426 dollars and in addition it had to spend 14941 dollars for installation. The furniture has been in use since April 21st, 2000. Zeta forecasted that in 2015 the office furniture would have a net salvage value of $1000. Using the US Accelerated Depreciation Schedule, estimate the value of depreciation recorded in the accounting books in the year 2004 if the company decided to sell the furniture on June 5th (of 2004). (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)

ANSWER: 3454.44

2.) Company Omega bought new petroleum refining equipment in the year 2000. The purchase cost was 174324 dollars and in addition it had to spend 14582 dollars for installation. The refining equipment has been in use since February 1st, 2000. Omega forecasted that in 2030 the equipment would have a net salvage value of $10,000. Using the US Straight Line Depreciation Schedule, estimate the value of depreciation recorded in the accounting books in the year 2004 if the company decided to sell the equipment on August 5th (of 2004). (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)

ANSWER: 9445.3

Imagine that we conducted a survey and asked individuals about their education and their smoking habits. The results are below. Are these two variables correlated? If so, what are two potential confounding variables that would explain a statistically significant correlation between education and smoking habits? Explain.

An environmentalist wants to determine the relationship between the number of fires in thousands, and the number of acres burned in hundreds of thousands. Based on the data, decide in the correlation is significant at alpha = 0.05.

Number of fires (x) - 73 | 74 | 58 | 48 | 80 | 65 | 54 | 49

Number of acres burned (y) - 64 | 46 | 22 | 23 | 51 | 12 | 29 | 10

Determine Sset.

HELP!

The mean of a population is 74 and the standard deviation is 16. The shape of the population is unknown. Determine the probability of each of the following occurring from this population.

a. A random sample of size 32 yielding a sample mean of 76 or more

b. A random sample of size 130 yielding a sample mean of between 72 and 76

c. A random sample of size 220 yielding a sample mean of less than 74.3

An insurance company has three types of annuity products: indexed annuity, fixed annuity, and variable annuity. You are given:

• None of the customers have both fixed annuity and variable annuity.
• 40% of the customers with fixed annuity also have indexed annuity.
• Half of the customers with two annuity products have variable annuity.
• 60% of the customers have indexed annuity.
• The number of customers who have only the variable annuity is the same as the number of customers who have two annuity products.
• All customers have at least one type of annuity.

Determine the proportion of the customers who only have the indexed annuity.

Using the worksheet you completed in Part 1, revise the given year end information with the following values and then answer the questions below:

Select year end company accounts and additional information:

Required:
1. Prepare the adjusting journal entries based on the results of your revised spreadsheet.

• Record the adjusting entry for supplies expense if supplies on hand at the end of the year were $8,300.

Note: Enter debits before credits.

• Record the adjusting entry for services remaining to be provided to customers who paid $4,300 in advance.

Note: Enter debits before credits.

• Record the adjusting entry for additional salaries of $9,400 owed to employees at the end of the year.

Note: Enter debits before credits.

• A note receivable of $9,800 was received on March 31 with an interest rate of 8%. Record the adjusting entry for interest on the Note Receivable at year end.

Note: Enter debits before credits.

2. Complete the table below with the new balances in each account:

3. Now assume supplies on hand at the end of the year were $15,800, and services remaining to be provided to customers were $6,800. Enter the recalculated values below:

In your opinion, which do you view as more important: 1) health inequalities or 3) health inequities? Explain.

Compare and contrast the differences between a person in good health versus a person considered to be in ill health.  What factors contribute to a person’s health status? How does cost(s) play a role in a person's ability to obtain "good" health?

Which of the following is NOT a way in which transposable elements are thought to contribute to evolution?

a. They can facilitate recombination between chromosomes. b. They can insert into a protein-coding sequence and change its expression. c. They can cause duplications of entire chromosomes. d. They can carry entire genes with them to a new position in the genome. e. They take individual exons with them during transposition.
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