Is it worth going to college? Let's suppose that a typical college educated professional makes 85,000 dollars per year and a high school graduate makes 45,000 dollars per year. The direct costs of college (tuition, books, and so on) are 16,000 dollars a year (and a college degree takes 4 years). For the purpose of this exercise, consider that the earnings are constant until the age of 64; and thereafter, the earnings are zero. (a) Suppose that John is now eighteen, and he is contemplating on the possibility of going to college, should he go? Use a discount rate of 10 percent for your calculations. You should have 47 terms in the sum of the present value, one term for each year that elapses between ages of 18 and 64. (b) Now suppose that he is also a good racer. However, racing is a risky sport, and at most he can race until the age of 30. The contract that he can get is 200k dollars a year. Using the same discount rate as before, namely 10%, what should he do? Show your calculations.

Please read the An Inside Look at Policy article titled “Airbnb Customers to Pay Hotel Taxes” on pages 132-133. Then, provide your answer to the second “Thinking Critically” question posed. Support your responses based on what you learned in your reading assignment.

30. A popular resort hotel has 300 rooms and is usually fully booked. About 7% of the time a reservation is canceled before the 6:00 p.m. deadline with no penalty. What is the probability that at least 285 rooms will be occupied? Use the binomial distribution to find the exact value.

We are currently in the midst of a global pandemic. Are there any goods or services that may switch from “normal” to “inferior” or vice versa during this health crisis? Do you think any such changes will be permanent?

* not services like health insurance or park admissions perferbably some goods

Find the 80% confidence interval for the standard deviation of the ages of seniors at Oak Park College if a random sample of 21 students has a standard deviation of 2.3 years. Assume the variable is normally distributed.

a.) (1.9,2.9)

b.) (2.6, 3.3)

c.) (3.7,8.5)

d.) (2.6, 7.0)

Are these amusement park rides equal in terms of monetary revenue?
Test at α = .01 significance level.

Tornado:                     Average daily revenue = $300.00;   standard deviation = 45.0;    n = 12

Double Blizzard:          Average daily revenue = $320.00;   standard deviation = 38.0;    n = 17

Imagine that you work in the human resource department at Marriott’s corporate headquarters. Your team is thinking about ways it might use My Marriott Hotel game as part of the selection process. How could you use it? How would you measure its effectiveness?