High-School Confidential

Notes on Teen Movies

David DENBY

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David Denby (b. 1943), who lives in New York City, is a staff writer and film critic for the New Yorker and the former film critic for New York. His writing has also appeared in the Atlantic, the New York Review of Books, and the New Republic. His first book, Great Books: My Adventures with Homer, Rousseau, Woolf, and Other Indestructible Writers of the Western World (1996), was a finalist for the National Book Critics Circle Award. Denby is also the editor of Awake in the Dark: An Anthology of Film Criticism from 1915 to the Present (1977), American Sucker (2004), and Snark (2009). The essay that follows was originally published in the New Yorker in May 1999.

What is Denby's opinion of teen movies? Does he find anything redeeming in them?

Use quotes from the reading to support your ideas.

A study determines that 60% of the voters in a town intend to vote for the incumbent mayor. if a sample of 8 people is selected, approximate probability that 6 of the 8 people surveyed intend to vote for the incumbent is

For the following prepare all necessary journal entries for the current year (except closing) for both the fund-based (designate the fund) and government-wide (designate the activity) financial statements. Use the letter of each transaction and YE for related year-end transactions to date the journal entries.

The Hamlet of Oakridge, which is run by a Council, began 2017 with a General Fund, which had two activities (education and conservation), and an Enterprise Fund, which provides water to the citizens. Oakridge has one school which cost $1,050,000 and has a 20-year life with no salvage value. The water plant cost $618,000 and has a 30-year life with no salvage value. Assume the Oakridge’s fiscal year follows the calendar year. The Council:

a. Decided to build conservation preserve and transferred $73,500 to a capital projects fund, and immediately expended $50,250 for a piece of land.

b. Borrowed $115,500 cash on a long-term bond issue for use in creating the new conservation preserve.

c. Assessed property taxes on the first day of the year. The assessment, which is immediately enforceable, totals $630,000. Of this amount, $535,500 will be collected during 2017 and another $52,500 is expected in the first two months of 2018; 1.25% is considered uncollectible. The remainder is expected to be collected halfway through 2018.

d. Constructed a building in the new conservation preserve for $189,990 cash for use as a nature conservatory. It was put into service on July 1 and should last 15 years with no salvage value.

e. Built a hiking trail through the new conservation preserve for $10,500 cash and put it into service on July 1. It should last for 10 years, but the Council plans to add the trail to its asset network and keep it up to a pre-determined quality level so that it will last almost indefinitely.

f. Opened the preserve and charged an entrance fee of only a token amount, which goes to support general operations. Collections in the first year total $25,000.

g. Built a new water tower for $195,000, paying $20,000 cash and signing a long-term note for the balance. The water tower, which went into operations on July 1, provides additional storage for Oakridge Water Works and is considered part of that function. It has a 20-year life and no salvage value.

h. Received a $95,000 cash grant for the Oakridge school that must be spent for a school breakfast program for under-privileged children. Appropriate spending of these funds is viewed as an eligibility requirement for this grant (reimbursement grant). During the current year, $35,150 of the amount received was properly spent.

i. Bought school supplies for $22,660 cash and uses $17,510 of them. The Council uses the purchases method for all supplies.

j. Received a sculpture by a local artist to be displayed in the lobby of the nature conservatory. It qualifies as a work of art, and the Council has chosen not to capitalize it. The painting has a value of $82,500. It is viewed as inexhaustible.

k. Ordered a new school bus for $101,970.

l. Received the school bus and paid an actual cost of $104,006. The bus was put into operation on October 1 and should last for five years with no salvage value.

m. Paid salaries of $252,000 to schoolteachers. In addition, owes and will pay $31,500 during the first two weeks of 2018. Vacations worth $24,150 have also been earned but will not be taken until July 2018.

n. Paid salaries of $43,260 to staff at the Water Works. In addition, owes and will pay $3,090 in the first two weeks of 2018. Vacations worth $5,150 have also been earned but will not be taken until the summer of 2018.

o. Charged various customers $133,900 for water services provided. Of this balance, $113,300 was collected in cash and the remainder will be collected in April 2018.

p. Paid $9,270 in maintenance charges for the conservatory and trail.

q. Paid $15,000 on the conservation preserve bonds; $10,395 is interest.

r. Accrued interest of $13,390 on the water tower note; it will be paid in June 2018.

s. Opened a landfill that is estimated to be 12% full at year-end. It is estimated that closure costs will be $824,000. The Council made a $20,600 advance payment toward those closure costs.

t. Signed a five-year capital lease at the beginning of the year on equipment that will be used by the school. The first $22,000 payment was made at signing, with the remaining payments to be made at year-end for the term of the lease. The present value of the minimum lease payments is $87,800, based on an interest rate of 8%.

Assuming 22% of infants delivered in a small-town record low-weight. Among these infants, 30% belongs to households that are considered poor. Looking at it all, only 25% of infants not recorded as low-weight are delivered to poor households.

1. What percent of all infants delivered in this small-town were delivered to households that are poor or poor households?

2. What is the probability that an infant delivered to a poor household would be noted as low-weight?
3. If a group is randomly selected of 4 infants recorded as low-weight and 6 infants recorded as not low-weight. Considering this randomly selected group of 10, compute the probability that you can have exactly 2 infants delivered to poor households?

The market for cucumbers faces a market demand function given by P = 2000 - 100Q(farm ) - 100Q(town). Only two firms exist in this market: Farm's farm and Town farms.

Both firms have a constant marginal cost MC = 1000.

   a) Get the reaction function for both farms.
   b) Illustrate both reactions functions.
   c) Identify the equilibrium
   d) What if they began the process of competition with farms farm choosing to produce 1 unit. Do two steps of reaction.
   e) Will total output be higher than monopolist output? What about price? How does competition impact firms behaviours? Is it welfare maximizing for society?

You own 2 restaurants serving the exact same type of food.   The menus of meals and drinks served are exactly the same.

Suppose that the costs of each restaurant are exactly the same.

Suppose further that the number of potential customers for each restaurant is exactly the same.

One restaurant is located in a wealthier section of town; one restaurant is located in a poorer section of town.

1. Should each restaurant have the same prices on their menus or different prices at each location? If different prices, which restaurant should have the higher prices and which restaurant should have the lower prices? Why?

2. How does your pricing policy above benefit you? Explain why.

A community that is located in a resort area is trying to decide on the parking fee to charge at the town-owned beach. There are other beaches in the area, and there is competition for bathers among the different beaches. The town has determined the following function, which expresses the average number of cars per day q as a function of the parking fee p stated in dollars.
     q = 6000 - 1200p

a) Determine the fee that should be charged to maximize daily beach revenues. $  Blank 1. Fill in the blank,

b) What is the maximum daily beach revenue expected to be? $  Blank 2. Fill in the blank

c) How many cars are expected on an average day?  Blank 3. Fill in the blank, cars

4. The realtors from problem #2 wants to explore how location and size impacts the selling price for single-family houses. The realtors plans to use number of rooms as an indicator of size. Location will be whether the home is located on the east side of town (=0) or west side of town (=1). The data she collected from 20 homes is located in the data file Homes.

a. Run a multiple regression using number of rooms and neighborhood location to predict selling price. Report your regression equation.

b. Is the regression model you ran statistically significant? How can you tell?

c. What is the relationship (correlation) between the predictors and selling price?

d. How much variance in selling price is explained by the predictors?

e. Which of your predictors explain a unique amount of variance in selling price?

f. Predict the selling price of a home on the east side of town with 8 rooms. Predict the selling price of a home on the west side of town with 8 rooms. Explain the difference between the two selling price estimates.

1) Table 17-30 Imagine a small town in which only two residents, Abby and Brad, own wells that produce safe drinking water. Each week Abby and Brad work together to decide how many gallons of water to pump. They bring water to town and sell it at whatever price the market will bear. To keep things simple, suppose that Abby and Brad can pump as much water as they want without cost so that the marginal cost is zero. The weekly town demand schedule and total revenue schedule for water is shown in the table below:

Discuss the difference between the monopoly outcome and the Nash equilibrium.

2)

Table 17-32
Suppose that Angelina and Brad own the only two professional photography stores in town. Each must choose between a low price and a high price for senior photo packages. The annual economic profit from each strategy is indicated in the table below:

Angelina
Low price High price

Refer to Table 17-32. Is there a Nash equilibrium? If so, describe it.

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%)