Hanson Inn is a 96-room hotel located near the airport and convention center in Louisville, Kentucky. When a convention or a special event is in town, Hanson increases its normal room rates and takes reservations based on a revenue management system. The Classic Corvette Owners Association scheduled its annual convention in Louisville for the first weekend in June. Hanson Inn agreed to make at least 50% of its rooms available for convention attendees at a special convention rate in order to be listed as a recommended hotel for the convention. Although the majority of attendees at the annual meeting typically request a Friday and Saturday two-night package, some attendees may select a Friday night only or a Saturday night only reservation. Customers not attending the convention may also request a Friday and Saturday two-night package, or make a Friday night only or Saturday night only reservation. Thus, six types of reservations are possible: convention customers/two-night package; convention customers/Friday night only; convention customers/Saturday night only; regular customers/two-night package; regular customers/Friday night only; and regular customers/Saturday night only.

The cost for each type of reservation is shown here:

The anticipated demand for each type of reservation is as follows:

Hanson Inn would like to determine how many rooms to make available for each type of reservation in order to maximize total revenue.

1. Define the decision variables and state the objective function. Round your answers to the nearest whole number.
   

   Let	CT = number of convention two-night rooms
   	CF = number of convention Friday only rooms
   	CS = number of convention Saturday only rooms
   	RT = number of regular two-night rooms
   	RF = number of regular Friday only rooms
   	RS = number of regular Saturday only room

   CT

   +

   CF

   +

   CS

   +

   RT

   +

   RF

   +

   RS

2. Formulate a linear programming model for this revenue management application. Round your answers to the nearest whole number. If the constant is "1" it must be entered in the box.
   

   CT

   +

   CF

   +

   CS

   +

   RT

   +

   RF

   +

   RS

   S.T.

   1)	CT
   2)	CF
   3)	CS
   4)	RT
   5)	RF
   6)	RS
   7)	CT	+	CF
   8)	CT	+	CS
   9)	CT	+	CF	+	RT	+	RF
   10)	CT	+	CS	+	RT	+	RS
   11)	CT,	CF,	CS,	RT,	RF,	RS			0

3. What are the optimal allocation and the anticipated total revenue? Round your answers to the nearest whole number.
   

   Variable	Value
   CT
   CF
   CS
   RT
   RF
   RS

   
   Total Revenue = $  
   
4. Suppose that one week before the convention the number of regular customers/Saturday night only rooms that were made available sell out. If another nonconvention customer calls and requests a Saturday night only room, what is the value of accepting this additional reservation? Round your answer to the nearest dollar.
   
   The dual value for constraint 10 shows an added profit of $   if this additional reservation is accepted.

Hanson Inn is a 96-room hotel located near the airport and convention center in Louisville, Kentucky. When a convention or a special event is in town, Hanson increases its normal room rates and takes reservations based on a revenue management system. The Classic Corvette Owners Association scheduled its annual convention in Louisville for the first weekend in June. Hanson Inn agreed to make at least 50% of its rooms available for convention attendees at a special convention rate in order to be listed as a recommended hotel for the convention. Although the majority of attendees at the annual meeting typically request a Friday and Saturday two-night package, some attendees may select a Friday night only or a Saturday night only reservation. Customers not attending the convention may also request a Friday and Saturday two-night package, or make a Friday night only or Saturday night only reservation. Thus, six types of reservations are possible: convention customers/two-night package; convention customers/Friday night only; convention customers/Saturday night only; regular customers/two-night package; regular customers/Friday night only; and regular customers/Saturday night only.

The cost for each type of reservation is shown here:

The anticipated demand for each type of reservation is as follows:

Hanson Inn would like to determine how many rooms to make available for each type of reservation in order to maximize total revenue.

1. Define the decision variables and state the objective function. Round your answers to the nearest whole number.
   

   Let	CT = number of convention two-night rooms
   	CF = number of convention Friday only rooms
   	CS = number of convention Saturday only rooms
   	RT = number of regular two-night rooms
   	RF = number of regular Friday only rooms
   	RS = number of regular Saturday only room

   Max

   CT

   +

   CF

   +

   CS

   +

   RT

   +

   RF

   +

   RS

2. Formulate a linear programming model for this revenue management application. Round your answers to the nearest whole number. If the constant is "1" it must be entered in the box.
   

   Max

   CT

   +

   CF

   +

   CS

   +

   RT

   +

   RF

   +

   RS

   S.T.

   1)	CT	<
   2)	CF	<
   3)	CS	<
   4)	RT	<
   5)	RF	<
   6)	RS	<
   7)	CT	+	CF	≥
   8)	CT	+	CS	≥
   9)	CT	+	CF	+	RT	+	RF	≤
   10)	CT	+	CS	+	RT	+	RS	≤
   11)	CT,	CF,	CS,	RT,	RF,	RS		≥	0

3. What are the optimal allocation and the anticipated total revenue? Round your answers to the nearest whole number.
   

   Variable	Value
   CT
   CF
   CS
   RT
   RF
   RS

   
   Total Revenue = $  
   
4. Suppose that one week before the convention the number of regular customers/Saturday night only rooms that were made available sell out. If another nonconvention customer calls and requests a Saturday night only room, what is the value of accepting this additional reservation? Round your answer to the nearest dollar.
   
   The dual value for constraint 10 shows an added profit of $   if this additional reservation is accepted.

You are the auditor in-charge of the annual audit of Muscat Insurance Company (or MIC) for the
year ended December 31, 2019. MIC is the leading insurance company in Oman and enjoys a good
reputation in the business community. As this is the first time your audit firm will be auditing the
company, you communicated with the previous auditor as part of understanding the business. Your
communication with previous auditors revealed something that you didn’t expect to discover. The
previous auditors revealed that the company has an unpaid tax amounting to OMR 3 million. Though
it was disclosed in the books as tax in arrears, there is no indication that the company has attempted
to pay it. You have also found out in your initial review that MIC has recently purchased a new
software that will enable the customers to access their insurance accounts through the internet.
Because the directors are eager to use the software to attract more customers, the software has been
rolled out already for use by the customers even though it was not tested by the company’s
information technology (IT) department yet for security purposes. As surprise discoveries seem not
to stop, you have also heard from your friends, who were customers of MIC, that there were
insurance claims from customers which have not been paid by the company. Some of the claims
were as old as five years ago. The management expects to receive a report on the weaknesses on the
design and implementation of internal controls and some business consultative advice on top of the
usual audit of financial statements.
Required: Discuss matters that you would consider in developing the audit strategy for Muscat
Insurance Company.

You are the auditor in-charge of the annual audit of Muscat Insurance Company (or MIC) for the
year ended December 31, 2019. MIC is the leading insurance company in Oman and enjoys a good
reputation in the business community. As this is the first time your audit firm will be auditing the
company, you communicated with the previous auditor as part of understanding the business. Your
communication with previous auditors revealed something that you didn’t expect to discover. The
previous auditors revealed that the company has an unpaid tax amounting to OMR 3 million. Though
it was disclosed in the books as tax in arrears, there is no indication that the company has attempted
to pay it. You have also found out in your initial review that MIC has recently purchased a new
software that will enable the customers to access their insurance accounts through the internet.
Because the directors are eager to use the software to attract more customers, the software has been
rolled out already for use by the customers even though it was not tested by the company’s
information technology (IT) department yet for security purposes. As surprise discoveries seem not
to stop, you have also heard from your friends, who were customers of MIC, that there were
insurance claims from customers which have not been paid by the company. Some of the claims
were as old as five years ago. The management expects to receive a report on the weaknesses on the
design and implementation of internal controls and some business consultative advice on top of the
usual audit of financial statements.
Required: Discuss matters that you would consider in developing the audit strategy for Muscat
Insurance Company.

You are the auditor in-charge of the annual audit of Muscat Insurance Company (or MIC) for the year ended December 31, 2019. MIC is the leading insurance company in Oman and enjoys a good reputation in the business community. As this is the first time your audit firm will be auditing the company, you communicated with the previous auditor as part of understanding the business. Your communication with previous auditors revealed something that you didn’t expect to discover. The previous auditors revealed that the company has an unpaid tax amounting to OMR 3 million. Though it was disclosed in the books as tax in arrears, there is no indication that the company has attempted to pay it. You have also found out in your initial review that MIC has recently purchased a new software that will enable the customers to access their insurance accounts through the internet. Because the directors are eager to use the software to attract more customers, the software has been rolled out already for use by the customers even though it was not tested by the company’s information technology (IT) department yet for security purposes. As surprise discoveries seem not to stop, you have also heard from your friends, who were customers of MIC, that there were insurance claims from customers which have not been paid by the company. Some of the claims were as old as five years ago. The management expects to receive a report on the weaknesses on the design and implementation of internal controls and some business consultative advice on top of the usual audit of financial statements. Required: Discuss matters that you would consider in developing the audit strategy for Muscat Insurance Company.

Hardnosed Equipment purchased a patent on October 1, 2006, for $150,000 plus $10,000 in legal fees. At the time, Hardnosed Equipment planned to use the patent for 10 years and then sell it for $40,000.

At the end of 2008, Hardnosed Equipment estimated that the undiscounted net cash flows from the patent would be $110,000 and the discounted cash flow, $95,000. The fair value of the patent on December 31, 2008 was $96,000.

Required:

1. Compute the 2006 and 2007 amortization for the patent using the straight-line method.

2. Determine if the patent is impaired on December 31, 2008 and, if impaired, the size of the loss. Explain the test for impairment.

3. How would your answer to Required 2 differ if the patent had not been amortized by Hardnosed Equipment.

Elaborate KNM GROUP by the Acquisitions of 2004 onwards.

1. Describe the graph of the function without drawing the graph. Use the terms increasing, decreasing, concave up, concave down, vertical intercept, and horizontal asymptote, as appropriate.

f(t) = 0.75(3)^t − 2

.the vertical intercept is (t, f(t)) =

.The function is increasing or decreasing and concave up or concave down?

2. Model the data with an exponential function, if appropriate. If an exponential function model is not appropriate for the situation, explain why. Do not use regression for this exercise.

Between 1960 and 2004, insurance company expenditures for health care increased at an ever-increasing rate. In 1960, $6 billion was spent on health care. In 2004, $659 billion was spent on health care.†

Is the exponential function model appropriate? If not, explain why.

. Yes, the exponential function model is appropriate.

. No, the exponential function model is not appropriate because there is a constant rate of change, meaning it is linear.  

. No, the exponential function model is not appropriate because the growth rate is less than 1.

. No, the exponential function model is not appropriate because the change factor is less than 1.

Give the exponential model, if appropriate. (If not appropriate, enter DNE. Let H(t) be health care expenditures by insurance companies in billions of dollars, t years after 1960. Round the change factor to two decimal places.)

H(t) = ________ billion dollars.

3. State the two integer values between which the expression falls.

log₂(40)

Smaller value:-

Larger value:-

Use the change of base formula to evaluate the expression exactly. (Round your answer to three decimal places.):- __________

The marketing team at an internet music site wants a better understanding of who their customers are. They send out a survey to 25 customers​ (and use an incentive of​ $50 worth of downloads to guarantee a high response​ rate) asking for demographic information. One of the variables is the​ customer's age. For the 25​ customers, the ages are shown to the below. Complete parts​ a) through​ d).

19 , 30 , 39 , 26 , 36 , 32 , 31 , 22 , 23 , 43 , 35 , 13 , 44 , 31 , 44 , 29 , 28 , 47 , 36, 44 , 31 , 12 , 27 , 33 , 47

a)Find the quartiles Q1 & Q2

​b)Find the quartiles Q1 & Q2 using the Tukey method.

​c)Find the IQR using the quartiles from part b.

d)Find the standard deviation.

What can we say about winning percentage and coach's salary as contributors to "Revenue"? Select one: a. Surprisingly, coach's salary has a positive impact on revenue, while winning percentage has a negative impact. b. As would be expected, winning percentage has a positive effect, and coach's salary impact is negative. c. Both winning percentage and coach's salary have a positive impact on revenue. d. More data is needed to conduct a meaningful analysis. e. Answer pending

What is the error of estimation for Alabama’s revenue?

Select one:

a. 4.1 Million

b. 10.6 Million

c. 8.3 Million

d. 0

e. Cannot be determined.