Suppose you manage a local grocery store, and you learn that a very popular national grocery chain is about to open a store just a few miles away. Use the model of monopolistic competition to analyze the impact of this new store on the quantity of output your store should produce (Q) and the price your store should charge (P). What will happen to your profits? Please show graphically and explain your reasoning in detail. For example, how and why do profits change? How can that be seen on the graph? What could you do to defend your market share against the new store?

Martin Works as a delivery person for a local restaurant. His job requires that he use his own personal car to deliver food to customers' homes. During 2016, Martin drives 4,300 business miles. His employer reimburses him $0.35 a mile for each business mile.

A.) Discuss the tax consequences of the $1,505 (4,300x$0.35) reimbursement Martin receives if his employer has an accountable reimbursement plan.

B.) Same as part A., except that the employer has a non-accountable reimbursment plan.

C.) What are the characteristics of an accountable reimbursement plan and what distinguishes it from a non-accountable plan?

Suppose you manage a local grocery store, and you learn that a very popular national grocery chain is about to open a store just a few miles away. Use the model of monopolistic competition to analyze the impact of this new store on the quantity of output your store should produce (Q) and the price your store should charge (P). What will happen to your profits? Please show graphically and explain your reasoning in detail. For example, how and why do profits change? How can that be seen on the graph?

What could you do to defend your market share against the new store?

1.       The Green Cab Company has a taxi waiting at each of four cabstands in Evanston, Illinois. Four customers have called and requested service. The distances, in miles, from the waiting taxis to the customers are given in the following table. Find the optimal assignment of taxis to customers so as to minimize total driving distances to the customers. Please show all steps/work

Jim Ohlson is leaving tomorrow for a three day business trip to Chicago and is trying to decide the most economical way to get to and from the airport and his home. Jim could either drive (using his own car) or take the shuttle. If Jim drives, then he estimates that it will cost $0.30 per mile driven in operating costs (e.g., for oil and gas) and $7.50 per day for parking. The one-way cost of the shuttle is $25. Jim’s home is exactly 30 miles from the airport.

Required:

What are the controllable costs for Jim’s decision? Write down the magnitude of the controllable costs for both decision options.

Assume that you are the project manager for the construction of a 15-mile road. Further assume that the work is uniformly distributed over 12 weeks. The total approved budget for this project is $600,000. At the end of the first three weeks of work $160,000 has been spent and five miles of road have been completed. At the end of the first three weeks, what do you think of the current status of the project in terms of cost and schedule? Describe the earned value analysis terms that you use and their formulas, and then calculate each metric. Then interpret your results. Important: there are more than 3 earned value metrics to calculate.

Dylan Jones kept careful records of the fuel efficiency of his new car. After the first twelve times he filled up the tank, he found the mean was 22.9 miles per gallon (mpg) with a sample standard deviation of 1.2 mpg.

1. Compute the 98% confidence interval for his mpg. (Use t Distribution Table.) (Round your answers to 3 decimal places.)

2. How many times should he fill his gas tank to obtain a margin of error below 0.15 mpg? (Use z Distribution Table.) (Round your answer to the next whole number.)

question about R:

The vectors state.name, state.area, and state.region are pre-loaded in R and contain US state names, area (in square miles), and region respectively.

(a) Identify the data type for state.name, state.area, and state.region.

(b) What is the longest state name (including spaces)? How long is it?

(c) Compute the average area of the states which contain the word “New” at the start of the state name. Use the function substr().

(d) Use the function table() to determine how many states are in each region. Use the function kable() to include the table in your solutions. (Notes: you will need the R package knitr to be able to use kable().

Suppose you are trying to determine the capacity (in gallons) of the gas tank needed on an airplane you are constructing. You want to be able to travel 3200 nautical miles without stopping, and have gathered data on the amount of fuel similar planes used during flights of comparable length. Show complete calculation and your steps, also interpetation and explanation as asked.

Consider a sample with the following properties: x̅ = 261.5, s = 18.73, n = 26

A) Calculate a confidence interval with α = 0.10

B) Calculate a confidence interval with α = 0.01

C) How would you interpret the results for the confidence interval from part B?