While life expectancies continue to increase, differences exist between men and women. As a general rule, women outlive men, yet there are a few countries where men survive longer than women.

1. What are some reasons females outlive men in the United States and most countries of the world?
2. 
   
3. What are some reasons that men outlive women in countries other than the United States?
4. 
   
5. What are some of the factors that contribute to these gender differences?

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 78 or more
b. A random sample of size 130 yielding a sample mean of between 71 and 76
c. A random sample of size 219 yielding a sample mean of less than 74.7

(Round all the values of z to 2 decimal places and final answers to 4 decimal places.)

1. Give examples of needs, wants, and demands that Chick-fil-A customers demonstrate, differentiating these three concepts.

You are the in-house counsel for a small bank (the “Bank”) located in Northwest Colorado. The Bank has three locations: Steamboat Springs, Hayden and Craig. The Bank offers a broad range of banking services, such as making personal and commercial loans and offering various types of savings and checking accounts. The vast majority of the Bank’s customers live in Routt, Moffat and Rio Blanco Counties. The Bank has a reputation as being a friendly, small town bank that knows its customers by name. The Bank sponsors and helps organize many local community activities. The Bank is a publicly traded company. During the past several years, the price of the Bank’s stock has fallen at alarming rates. This is mainly due to decreased profits. Many of the Bank’s customers work for the coal, oil and gas industries, and with recent regulations and falling energy prices, many have lost their jobs and cannot afford to use the Bank’s services to buy cars, real estate or start businesses that require loans. Shareholders are losing faith in the Bank, and because of the mass of selling of its stock, its price has fallen by 50% in the past three years. Major shareholders are demanding that the Bank take initiative immediately to generate more revenue. The CEO of the Bank wants your advice on whether the Bank should get into the business of subprime lending. That is, relax its own lending standards to allow customers with poor credit to obtain a loan by putting as little as 3% down. Currently, the Bank requires a down payment of at least 15%, and only lends to customers with good or great credit scores. The CEO thinks that subprime lending will immediately generate additional revenue without adding to the Bank’s risk. Once the Bank makes the loan, it will sell the promissory note and deed of trust or security agreement to another financial institution for less than the total repayment amount, but more than the original amount. For example, if the Bank lends its customer $200,000 to buy a house, and the total repayment owed including interest is $350,000, the Bank could sell the debt for $250,000 and make a $50,000 profit in a short period of time. The customer would then make payments to the company that bought the debt from the Bank. The CEO says that the practice of relaxing its lending standards will allow local residents who are short on money to obtain loans to buy homes or start businesses. Please write a memorandum to the CEO counseling her on whether the Bank should, in your opinion, relax its lending standards and get into the business of subprime lending. Make sure to support your opinion with evidence such as laws that apply, historical examples, etcetera. You may use the information you learned in class, but you will also have to conduct your own research via the internet. As the attorney for Bank, you may provide both legal advice and practical advice.

Factors you should discuss include: What, if any, legal implications are there? (For example, are subprime loans allowed? Are there any laws that govern subprime loans?) What, if any, financial implications are there? (What are the possible good and bad things that could happen to the finances of the customers, the Bank, the Bank’s shareholders, and the economy in general?) What, if any, ethical implications are there? (For example, should the Bank be responsible for the higher risk that the customers will not be able to repay the loan? How should the Bank balance its own interest in making a profit versus protecting customers from risky loans?) Are there any other issues you think the CEO should know about before making a decision? If the Bank starts offering subprime loans, what precautions should it take in order to minimize the risks you think are greatest?

Gators technology CO. introduced a new Product X to the market on January 1, 201X. It carries a one year warranty. In its first month on the market, Gators sold 1,000 Units of this product for a total of $1,000,000. CUstomers have an unconditional right to return in 90 days if they are not completely satisfied with the product. During the first month, customers returned 400 units of the new product that they had purchases for $400,000. Required : Determine when it would be appropriate for Gators to recognize revenue from the first month sales of this product. Base your evaluation on IAS 18.