Suppose that for international students the annual cost of a full time Bachelor of Commerce (BComm) degree from Monash University is $45,000 and the equivalent degree at The University of Melbourne is $43,000. Also, suppose that at these prices there are 800 international students studying a BComm at Monash University and 900 international students studying a BComm at The University of Melbourne.

A. If Monash University lowers the cost of its annual Bachelor of Commerce course for international students to $40,000, what would the corresponding change in the quantity demanded of the course at The University of Melbourne need to be such that the two goods have a cross price elasticity of 1.2? Show your workings. Round your answer to the nearest whole number. [3 marks]

B. Given the cross-price elasticity is 1.2, if there is a 10% increase, for international students, in the price of the BComm course at Monash University, what will happen to international student demand for the BComm course at The University of Melbourne? Be specific in your answer, i.e. demand will … by … %. Show your workings. What does this tell us about the two goods? [1 mark]

1. In the results of a survey of 395 teaching university faculty and 266 research university faculty. Of the teaching university faculty, 224 said they were very satisfied with their jobs, whereas 126 of the research university faculty were very satisfied with their work. Estimate the difference between the proportion of all teaching university faculty who are very satisfied and research university faculty who are very satisfied by calculating and interpreting a 95% CI.

the council of higher education wants to compare the percentage of students that score A in two universities. in a random sample of 100 students from university one, 80 received a grade of A; and in a random sample of 160 students from university two, 120 received a grade of A. the 95% confidence interval for the difference in proportion of students who received a grade of A is ???

The Rise and Fall of Nokia in Mobile Phones

Nokia emerged from Finland to lead the mobile phone revolution. It rapidly grew to have one of the most recognisable and valuable brands in the world. At its height Nokia commanded a global market share in mobile phones of over 40 percent. While its journey to the top was swift, its decline was equally so, culminating in the sale of its mobile phone business to Microsoft in 2013.

With a young, united and energetic leadership team at the helm, Nokia’s early success was primarily the result of visionary and courageous management choices that leveraged the firm’s innovative technologies as digitalisation and deregulation of telecom networks quickly spread across Europe. But in the mid-1990s, the near collapse of its supply chain meant Nokia was on the precipice of being a victim of its success. In response, disciplined systems and processes were put in place, which enabled Nokia to become extremely efficient and further scale up production and sales much faster than its competitors.

Between 1996 and 2000, the headcount at Nokia Mobile Phones (NMP) increased 150 percent to 27,353, while revenues over the period were up 503 percent. This rapid growth came at a cost. And that cost was that managers at Nokia’s main development centres found themselves under ever increasing short-term performance pressure and were unable to dedicate time and resources to innovation. While the core business focused on incremental improvements, Nokia’s relatively small data group took up the innovation mantle. In 1996, it launched the world’s first smartphone, the Communicator, and was also responsible for Nokia’s first camera phone in 2001 and its second-generation smartphone, the innovative 7650. Nokia’s leaders were aware of the importance of finding what they called a “third leg” – a new growth area to complement the hugely successful mobile phone and network businesses. Their efforts began in 1995 with the New Venture Board but this failed to gain traction as the core businesses ran their own venturing activities and executives were too absorbed with managing growth in existing areas to focus on finding new growth.

Corporate culture is one of the strategic and competitive advantages of Nokia. “Connecting people” is the catch phrase which means the physical facilities of the company. Nokia buildings hold the strong corporate image. Nokia has four main values and principles at his heart of its corporate philosophy: customer satisfaction, respect for individuals, achievement and continuous learning. However, there are some basic differences between organisational culture and national culture. These are: leadership style, organisational policies and procedures, organisational and operational structure, recruitment and selection procedures and measuring the performance of the employees and reward systems, global team and leadership development.

Between 2001 and 2005, a number of decisions were made to attempt to rekindle Nokia’s earlier drive and energy but, far from reinvigorating Nokia, they actually set up the beginning of the decline. Key amongst these decisions was the reallocation of important leadership roles and the poorly implemented 2004 reorganization into a matrix structure. This led to the departure of vital members of the executive team, which led to the deterioration of strategic thinking. By this stage, Nokia was trapped by a reliance on its unwieldy operating system called Symbian. While Symbian had given Nokia an early advantage, it was a device-centric system in what was becoming a platform- and application-centric world. To make matters worse, Symbian exacerbated delays in new phone launches as whole new sets of code had to be developed and tested for each phone model. By 2009, Nokia was using 57 different and incompatible versions of its operating system.

At the same time, the importance of application ecosystems was becoming apparent, but as dominant industry leader Nokia lacked the skills, and inclination to engage with this new way of working. By 2010, the limitations of Symbian had become painfully obvious and it was clear Nokia had missed the shift toward apps pioneered by Apple. Not only did Nokia’s strategic options seem limited, but none were particularly attractive. In the mobile phone market, Nokia had become a sitting drop to growing competitive forces and accelerating market changes. The game was lost, and it was left to a new CEO Stephen Elop and new Chairman Risto Siilasmaa to draw from the lessons and successfully disengage Nokia from mobile phones to refocus the company on its other core business, network infrastructure equipment.

Questions

Q1. Discuss the main competitive advantages used by Nokia?

Q2. How Nokia lost its position to another competitors?

Total: (500 words).

Assume the average age of an MBA student is 34.9 years old with a standard deviation of 2.5 years. ​a) Determine the coefficient of variation. ​b) Calculate the​ z-score for an MBA student who is 29 years old. ​c) Using the empirical​ rule, determine the range of ages that will include 99.7​% of the students around the mean. ​d) Using​ Chebyshev's Theorem, determine the range of ages that will include at least 91​% of the students around the mean. ​e) Using​ Chebyshev's Theorem, determine the range of ages that will include at least 87​% of the students around the mean.

Assume the average age of an MBA student is 30.7 years old with a standard deviation of 2.2 years.

​a) Determine the coefficient of variation.

​b) Calculate the​ z-score for an MBA student who is 26 years old.

​c) Using the empirical​ rule, determine the range of ages that will include 95​% of the students around the mean.

​d) Using​ Chebyshev's Theorem, determine the range of ages that will include at least 94​% of the students around the mean.

​e) Using​ Chebyshev's Theorem, determine the range of ages that will include at least 80​% of the students around the mean.

Mr. E, a petroleum engineer, earns an $84,500 annual salary, while Mrs. E, a homemaker, has no earned income. Under current law, the couple pays 20 percent in state and federal income tax. Because of recent tax law changes, the couple’s future tax rate will increase to 28 percent. If Mrs. E decides to take a part-time job because of the rate increase, how much income must she earn to maintain the couple’s after-tax disposable income? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

Jurisdiction X levies a flat 15 percent tax on individual income in excess of $35,000 per year. Individuals who earn $35,000 or less pay no income tax.

Mr. Hill earned $91,200 income this year. Compute his income tax and determine his average and marginal tax rate.

Ms. Lui earned $43,100 income this year. Compute her income tax and determine her average and marginal tax rate.

Ms. Archer earned $31,400 income this year and paid no income tax. Describe her average and marginal tax rate.

What type of rate structure does Jurisdiction X use for its individual income tax?

Jurisdiction X levies a flat 15 percent tax on individual income in excess of $35,000 per year. Individuals who earn $35,000 or less pay no income tax.

Mr. Hill earned $91,200 income this year. Compute his income tax and determine his average and marginal tax rate.

Ms. Lui earned $43,100 income this year. Compute her income tax and determine her average and marginal tax rate.

Ms. Archer earned $31,400 income this year and paid no income tax. Describe her average and marginal tax rate.

What type of rate structure does Jurisdiction X use for its individual income tax?

1. Taxpayer A’s taxable income is $178,300. Compute A’s tax and average tax rate. What is A’s marginal tax rate?

2. Taxpayer B’s taxable income is $661,800. Compute B’s tax and average tax rate. What is B’s marginal tax rate?

Country A levies an individual income tax with the following rate structure:

Ms. SP’s annual taxable income for years 1 through 5 is $140,200. Ms. OC’s taxable income for years 1 through 4 is $16,500. In year 5, Ms. OC wins a lottery, and her taxable income for this one year jumps to $635,000. Assume the tax rate bracket has not changed.

1. How much total income does each individual earn over the 5-year period?

2. Compute each individual’s average tax rate for the 5-year period.

Country A levies an individual income tax with the following rate structure:

Ms. SP’s annual taxable income for years 1 through 5 is $140,200. Ms. OC’s taxable income for years 1 through 4 is $16,500. In year 5, Ms. OC wins a lottery, and her taxable income for this one year jumps to $635,000. Assume the tax rate bracket has not changed.

1. How much total income does each individual earn over the 5-year period?

2. Compute each individual’s average tax rate for the 5-year period.

Country A levies an individual income tax with the following rate structure:

Ms. SP’s annual taxable income for years 1 through 5 is $140,200. Ms. OC’s taxable income for years 1 through 4 is $16,500. In year 5, Ms. OC wins a lottery, and her taxable income for this one year jumps to $635,000. Assume the tax rate bracket has not changed.

1. How much total income does each individual earn over the 5-year period?

2. Compute each individual’s average tax rate for the 5-year period.

Jurisdiction B’s tax system consists of a 6.5 percent general sales tax on retail goods and selected services. Over the past decade, the average annual volume of sales subject to this tax was $860 million. The jurisdiction needs to increase its tax revenues by approximately $8.6 million each year to finance its spending programs. The taxing authorities are considering two alternatives: a 1 percent increase in the sales tax rate or a new 2 percent tax on the net income of corporations doing business in the jurisdiction. Based on recent economic data, the annual net income subject to the new tax would be $455 million. However, the jurisdiction would have to create a new agency responsible for enforcing and collecting the income tax. The estimated annual cost of the agency is $500,000. Jurisdiction B borders four other taxing jurisdictions, all of which have a general sales tax and two of which have a corporate income tax.

1. Based on a static forecast, how much incremental revenue would Jurisdiction B raise under each alternative? (Enter your answers in millions rounded to 1 decimal place.)

Prepare a written Executive Summary Report regarding any company, using the information contained in the company’s balance sheet and income statement, the Internet or other resources, answering the following questions.

Company history: When was the company founded? By whom? List other historical facts.

2.  Who is the audit firm for the company?

3. What stock exchange is the company listed on? What is their ticker symbol?

4.  How much cash and cash equivalents did the company have at the end of its 2 most recent annual reporting periods?

5. What were the company’s total current assets at the end of its 2 most recent annual reporting periods?