Alyssa is a wholesale flower distributor. She sells her flower to all the finest florists in town. Nobody has flowers as beautiful as Alyssa's. As a result, hers is the only business in town that sells flowers to florists. Assuming that Alyssa is maximizing her profit, which of the following statements is true?

A) Flower prices will exceed marginal cost

B) Flower prices will be less than marginal revenue

C) Flower prices will be less than marginal cost

D) Costs are irrelevant to Alyssa because she is a monopolist  

1. If the random variable x has a Poisson Distribution with mean μ = 53.4, find the maximum usual value for x.
Round your answer to two decimal places.

2.

In one town, the number of burglaries in a week has a Poisson distribution with mean μ = 7.2. Let variable x denote the number of burglaries in this town in a randomly selected month. Find the smallest usual value for x. Round your answer to three decimal places.

(HINT: Assume a month to be exactly 4 weeks)

Study A) Using pediatricians’ records, randomly select 200 children with DM and 800 children without DM; interview their mothers concerning infant feeding history. Compare the infant feeding history among children with and without DM.

Study B) Review pediatricians’ records for a random sample of 1,000 youth age 12-19 years old and record DM status and infant feeding history for each youth.

Study C) Send letters and make follow-up telephone calls to the mothers of 1,000 12-year old boys and girls who have tested negative for diabetes within the past six months. Request the parents’ consent to review their child’s medical records annually until the child reaches age 20. Obtain information on infant feeding status from the medical record and a parental questionnaire.

Study D) Send letters and make follow-up telephone calls to 1,000 mothers of newborn babies asking the mothers to participate in a study in which the investigators will randomly assign mothers to breastfeed or formula feed and will review the annual pediatric visit records for the child through age 20 years.

Study E) Examine the correlation between per capita formula sales and DM prevalence across the 20 towns in Maramba.

Ethical issues aside, which one of these studies could provide the strongest evidence that formula feeding increases risk of DM?

Study A)

Study B)

Study C)

Study D)

Study E)

Which one of these studies would be the most problematic for inferring the existence of an association between infant feeding practices and subsequent DM at the individual level?

Study A)

Study B)

Study C)

Study D)

Study E)

Which one of these studies would provide data that can be used to estimate the prevalence of DM at the time of the study?

Study A)

Study B)

Study C)

Study D)

Study E)

Study A) Using pediatricians’ records, randomly select 200 children with DM and 800 children without DM; interview their mothers concerning infant feeding history. Compare the infant feeding history among children with and without DM.

Study B) Review pediatricians’ records for a random sample of 1,000 youth age 12-19 years old and record DM status and infant feeding history for each youth.

Study C) Send letters and make follow-up telephone calls to the mothers of 1,000 12-year old boys and girls who have tested negative for diabetes within the past six months. Request the parents’ consent to review their child’s medical records annually until the child reaches age 20. Obtain information on infant feeding status from the medical record and a parental questionnaire.

Study D) Send letters and make follow-up telephone calls to 1,000 mothers of newborn babies asking the mothers to participate in a study in which the investigators will randomly assign mothers to breastfeed or formula feed and will review the annual pediatric visit records for the child through age 20 years.

Study E) Examine the correlation between per capita formula sales and DM prevalence across the 20 towns in Maramba.

Ethical issues aside, which one of these studies could provide the strongest evidence that formula feeding increases risk of DM?

Study A)

Study B)

Study C)

Study D)

Study E)

Which one of these studies would be the most problematic for inferring the existence of an association between infant feeding practices and subsequent DM at the individual level?

Study A)

Study B)

Study C)

Study D)

Study E)

Which one of these studies would provide data that can be used to estimate the prevalence of DM at the time of the study?

Study A)

Study B)

Study C)

Study D)

Study E)

Lasertech is a start-up company that was founded by three college friends Mark, Mike, and Stella, right after they graduated from medical school. They had a vision of utilizing laser technology and selling it to hospitals and physicians to enable less-invasive surgeries. The company has been struggling in recent years. Sales have fluctuated and the company is often left with unsold inventory of products. Mark prepares monthly production schedules based on sales of the previous two months. The production schedule triggers the purchase of inventory. Stella monitors sales and inventory levels and plans promotions to sell slow-moving inventory. Mike monitors the cash flow and borrows against a line of credit when cash is low. The company founders brought in a consultant to assist the company in increasing sales, lowering costs, and controlling inventory. The consultant recommended implementing a formal budgeting process as the first step in improving performance.

Required:

1. Describe the role budgeting plays in strategic planning.
2. Describe the role budgeting plays in defining short-term objectives.
3. Identify and explain four characteristics of a successful budgeting process.
4. Explain how the budgeting process might be able to facilitate communication among the manufacturing, marketing, and finance units of the company.
5. Define flexible budgeting and explain how it is used.
6. Identify two types of budgeting that companies use other than flexible budgeting.

Do gender differences exist in definitions of success? The article suggests that there may be a few key areas where they do. If so, how much do these definitions shape us and where do these definitions come from? Are the definitions societally defined? Are they different across cultures? Have our definitions of success changed over time? In a well reasoned discussion post, explore these questions, bringing in personal examples as evidence to support your argument. Remember that you must also reply to two or more discussion posts from other students.

this is the article

Journal of Behavioral Studies in Business

Comparing Men’s and Women’s Definition of Success

Iraj Mahdavi

When John Gray’s book, “Men are from Mars, Women are from Venus” was published in 1992, its success was guaranteed for all practical purposes and intends, because it hit a certain attitudinal cord in the American readers which was bound to make hem respond strongly. In this society, as in almost all other societies, there seems to be a certain cultural belief, implicit or explicit, that men and women are different. Anyone who articulates this cultural belief is certain to be rewarded by public approval, and other more tangible rewards. If an explanation is also offered as to why such differences exist, and the practical implications of their mechanisms, approval and rewards are several folded proportionally. This is an age-old belief.

Whatever its origin, this belief has persisted throughout centuries in almost all civilizations. It can be argued that the most important function of this notion, which may explain its longevity, is the justification it has provided for discriminative treatment of women in the society. Discrimination against any group of people, and prejudice that follows it, seek and develop their justification in the very notions that separate such groups and differentiate them from the rest of the society. David G. Myers (1994) presents a very interesting and concise discussion of discrimination and prejudice. Based on his idea, without justification, affective attitudes of men towards women be they mothers, wives, sisters, lovers, etc. would not allow their treatment as less than equal. Psychological dissonance created by the conflicting attitudes of love, affection and general attraction and the socially determined discrimination (prejudice, sexism) against women can only become tolerable by a culturally shared belief that women are at some level essentially different from men.

Such socially sanctioned beliefs (almost myths) can be observed, even to day, in many cultures where they serve as the justification for such inequitable treatment of women. Although recent studies show that prejudice against women is “far less common today than it was” even a few decades ago (Myers, p.228), there are many articles, research papers and books that are being published every day that argue otherwise. For example see Cynthia B. Costello and others (1998), who through a series of articles examine the dynamic position of women in the American society in the twentieth century. The overwhelming argument put forward, and sentiments presented, along with data and other documentation is that there is no difference between men and women, and therefore, there is no justification for discrimination. There is, however, a growing body of recent studies that point to the existence of some differences. Some of these articles point out differences in the biological functioning of the two genders, such as the recent report from the University of Indiana that proposed that while women use both sides of their brain while listening, men use only the left side of theirs in similar situations (LA Times), or the newer article in the Neurobiology of Learning and Memory, that proclaims that men and women process emotional memories in opposite sides of the amygdale region of the brain (Cahill, 2001).

Others concentrate more on finding different patterns of behavior among men and women. These studies generally argue that there are different patterns of leadership behavior (see, for example Deaux, 1985; Eagly, 1990; Helgesen, 1990), or patterns of management behavior and types of relationship with subordinates and/or superiors and attitude toward life in the corporate world and place of women in it Attitudes are learned and, therefore, are very susceptible to influence from the culture. In fact, as individuals grow up in a society many of these so called cultural attitudes are learned through the process of socialization. Many institutions are involved in this process: family, church, school, clubs, etc. Through this process of socialization/acculturation individuals learn a society’s shared values, beliefs, norms, mores as well as world-view and attitudes. Thus, it is reasoned that girls and boys learn to respond to different expectations, aspire to different ideals, and hope to fulfill different roles in their lives by example, differential treatment and injection of a value system which teaches them their expected roles. Most of these processes, it is further argued, have overt or subtle sexist biases. They treat boys and girls differently and as they grow up they consider this unequal treatment not only natural but also expected and appropriate.

In the United States, an accelerated move towards equal treatment of both genders, especially in schools and colleges, has been taking place in the past few decades. It can be observed in the increasing number of admissions of women to universities, in the growing number and type of courses that are being offered in such areas as women’s studies, legal studies of gender roles, and in the shifting content of many social science courses. Thus, American universities and other institutions of higher learning are moving rapidly towards equality of treatment and expectation between genders, both in their structure as well as in their teachings. As far as gender roles and expectations are concerned, they are transmitting a different culturally determined attitude to their students.

High School A and High School B both claim that they are superior. Last year School A had 354 students take an AP exam and 231 passed. School B had 684 students take the same exam and 512 passed.

Is this within natural variation? Or is this evidence that School B has a statistically significant higher passing rate? Report the p-value.

SOHO House was founded in 1995 in London as a private members’ club for individuals within the creative industries. SOHO House is aggressively expanding globally and has a diverse range of luxury properties spreading around the globe; from New York to Mumba and Barcelona to Hong Kong while also venturing into other industries to include homewares, cinema, restaurants, and hotels. Though SOHO House remains the leader in the private club sector, their recent diversification into other industries has impacted its customer's perception of their brand, specifically their loyal private club customer base.

An opportunity has arisen for you to join the Sales and Marketing team as the Director of Communications and Promotions. You are required to develop a communication strategy targeting current and prospective private club members.

Develop a new communication and pricing strategy for SOHO House’s private club.

• Discuss the integrated marketing communications concept to support your answer.
• Analyse the types of promotional tools that are best suited to SOHO House.

Identify the type of pricing strategy that best suits the target market.

The town of Cypress Creek is preparing to go to war against the American government. To do this, it is building a giant satellite laser! To build the laser, the government of the town will resort to taxation to fund its expenditure. The initial economy of Cypress Creek can be expressed by the following agents:

Consumers, C = 25 + 0.95(Y-T)

Output, Y = 5000

Government expenditures, G = 2000

Taxation, T = 2000

Investors, I = 750-125r

Markets are fully competitive and the equilibrium condition for markets are:

Goods and service market: Y =C + I + G

Financial market: I = S

When it builds the Satellite, government and taxation change to

Government expenditures, G = 4000

Taxation, T = 4000

Hank Scorpio, the towns' founder, announces that "even by increasing government spending and

taxation, we are not worst off, as production has not changed!"

i) [2 points] check to make sure output does not change.

j) [2 points] find the consumption level in both scenario's (low and high government spending)

k)[3 points] who is paying for the burden of taxation? (how is this new spending/taxation being

distributed between investors and consumers)

l)[2 points] as the government increases its spending (G from 2000 to 4000) why won't output

change?

Abdul is making a map of his neighborhood. He knows the following information:

• His home, the middle school, and high school are all on the same street.
• His home, the elementary school, and his friend's house are on the same street.
• The distance between home and the middle school and between home and the elementary school is 3 miles.
• The distance between the high school and the middle school and between his friend's house and the elementary school is 6 miles.
• The angle between the elementary school, middle school, and his home is congruent to the angle between his friend's house, the high school, and his home.

What theorem can Abdul use to determine the two triangles are similar? (6 points)