A survey found that​ women's heights are normally distributed with mean 63.1 in. and standard deviation 2.3 in. The survey also found that​ men's heights are normally distributed with mean 69.6 in. and standard deviation 3.4 in. Most of the live characters employed at an amusement park have height requirements of a minimum of 57 in. and a maximum of 62 in. Complete parts​ (a) and​ (b) below.

a. Find the percentage of men meeting the height requirement. What does the result suggest about the genders of the people who are employed as characters at the amusement​ park?

b. If the height requirements are changed to exclude only the tallest​ 50% of men and the shortest​ 5% of​ men, what are the new height​ requirements? The new height requirements are a minimum of ? in. and a maximum of ? in.

The Dow Jones Travel Index reported what business travelers pay for hotel rooms per night in major U.S. cities. The average hotel room rates for 20 cities are recorded.

(e) Which measure of the spread (interquartile range & standard deviation) is better to use here? Briefly justify your answer with a graph generated with StatGraphics. [3]

(f) Determine if there is/are any outlier(s) in the data using the IQR approach. Make sure show all your work. [3]

Analyse the relationship between bond prices and interest rates during recession. (4m) (250 words)

An investor estimates that next year’s net income for Hilary Pullman Hotel would be RM 8 million. The company has 0.5 million shares outstanding and decided to pay RM 0.5 million to the preferred stockholders from its net income. Listed companies similar to Hilary Pullman Hotel have been recently reported to have an average price/earnings ratio of 4 times. Given the information, calculate the expected price of the stock and evaluate the problems in using Price/earnings ratio method of valuing the shares of a company. (6m)

1. A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels with a sample standard deviation of $72. Construct a 95% confidence interval and report the lower bound for the interval. (Answer to one decimal place and do not include a $ sign).

2.A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels with a sample standard deviation of $72. Construct a 95% confidence interval and report the upper bound for the interval. Your number should be larger than for the previous problem. (Answer to one decimal place and do not include a $ sign).

(a) Explain the following statement under the Malaysian Contract Law : “Consideration must be sufficient but need not be adequate.”

(b) Budget Travels, booked Hotel Kedekut for a 2 day health event for their staff. All the itinerary and the food to be served were confirmed already. The chef of Hotel Kedekut, who knows the manager of Budget Travels, Michael, very well has decided to make pastries and cupcakes for the health event on his own. The event was a success and Michael, being very delighted, promised to pay for the pastries and cupcakes to the chef on behalf of Budget Travels but in the end he didn’t do so. Is Budget Travels under an obligation to do so?

(Total :20 marks)

The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer.

Required:

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)

2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

• Systematic factors like guests, switching off fans and lights.unanswered
• Number of days present in a month.unanswered
• Income taxes paid on hotel income.unanswered
• Seasonal factors like winter or summer.unanswered
• Fixed salary paid to hotel receptionist.

Exercise 5A-1 High-Low Method [LO5-10]

The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer.

Required:

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)

2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Systematic factors like guests, switching off fans and lights.unanswered

Number of days present in a month.unanswered

Income taxes paid on hotel income.unanswered

Seasonal factors like winter or summer.unanswered

Fixed salary paid to hotel receptionist.

Patricia Johnson is the sole owner of Crane Vista Park, a public camping ground near the Crater Lake National Recreation Area. Patricia has compiled the following financial information as of December 31, 2020. Revenues during 2020—camping fees $186,228 Fair value of equipment $186,228 Revenues during 2020—general store 86,463 Notes payable 79,812 Accounts payable 14,632 Expenses during 2020 199,530 Cash on hand 30,595 Accounts receivable 23,278 Original cost of equipment 140,336 (a) Determine Patricia Johnson’s net income from Crane Vista Park for 2020. Net income $enter Net income in dollars (b) Prepare a balance sheet for Crane Vista Park as of December 31, 2020. (List Assets in order of liquidity.) CRANE VISTA PARK Balance Sheet choose the accounting period Assets enter a balance sheet item $enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a closing section name for this part of the balance sheet $enter a total amount for this part of the balance sheet Liabilities and Owner’s Equity select an opening name for section one enter a balance sheet item $enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for section one enter a total amount for this section of the balance sheet select an opening name for section two enter a balance sheet item enter a dollar amount select a closing name for this part of the balance sheet $enter a total amount for this part of the balance sheet

Table 1

Calculate the following for the car park using the data from Table 1:

a) the maximum real power demand P (kW)

b) maximum reactive power demand Q (kVAr)

c) the total apparent power demand S (kVA)

d) also, calculate the maximum current magnitude |I| if the supply voltage magnitude |V| is 3.3 kV and the supply frequency is 50 Hz.

e) Calculate the overall car park power factor.

f) Calculate the rating of the capacitor bank (μF) needed to improve the car park power factor to unity.

g) Calculate the new maximum current magnitude, after power factor correction. Again assume the supply voltage magnitude is 3.3kV and frequency is 50 Hz.

h) Select the cable ID from Table 2 that you would use to supply the car park BEFORE AND AFTER power factor correction has been applied.

i) Comment on your result.

Table 2

Jameson’s hotel group prepares published accounts on a quarterly basis. The senior management is reviewing the performance of one of the hotels in the group and making plans for 2018/19. They have in front of them the results for 2017/18 (based on actual results for the first two quarters and forecasts to the end of the year).

Quarter Sales Profit/(loss)
1 400,000 (280,000)

2 1,200,000 360,000

3 1,600,000 680,000

4 800,000 40,000

The total estimated number of visitors (guest nights) for 2017/18 is 50,000. The results follow a regular pattern, with no unexpected cost fluctuations beyond the seasonal trading pattern. Management intend to add to their plans for 2018/19 an anticipated increase in unit variable costs of 10% and a profit target for the hotel of $1 million.

Required: (a) Determine the total variable and total fixed costs of the hotel for 2017/18, by using both a PV chart and by calculation. (b) i. If there is no increase in visitors for 2018/19, what will be the required revenue rate per hotel visitor to meet the profit target? ii. If the required revenue rate per visitor is not raised above the 2018/19 level, how many visitors are required to meet the profit target? (c) Outline and briefly discuss the assumptions underlying the accountants’ typical PV or break-even analysis and assess whether they limit its usefulness.

Note: In order to achieve full marks for this question it is essential that you fully explain what you are doing, why you are doing it and the steps involved in providing a final solution. Ensure your answer is not just a set of calculations as 25% of the marks for this question are set aside for your explanation.