Required information [The following information applies to the questions displayed below.] Washington County’s Board of Representatives is considering the construction of a longer runway at the county airport. Currently, the airport can handle only private aircraft and small commuter jets. A new, long runway would enable the airport to handle the midsize jets used on many domestic flights. Data pertinent to the board’s decision appear below. Cost of acquiring additional land for runway $ 82,500 Cost of runway construction 280,000 Cost of extending perimeter fence 19,908 Cost of runway lights 45,000 Annual cost of maintaining new runway 22,500 Annual incremental revenue from landing fees 57,500 In addition to the preceding data, two other facts are relevant to the decision. First, a longer runway will require a new snowplow, which will cost $180,000. The old snowplow could be sold now for $18,000. The new, larger plow will cost $16,000 more in annual operating costs. Second, the County Board of Representatives believes that the proposed long runway, and the major jet service it will bring to the county, will increase economic activity in the community. The board projects that the increased economic activity will result in $94,000 per year in additional tax revenue for the county. In analyzing the runway proposal, the board has decided to use a 10-year time horizon. The county’s hurdle rate for capital projects is 18 percent. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Required: 1. Compute the initial cost of the investment in the long runway. 2. Compute the annual net cost or benefit from the runway. 3-a. Determine the IRR on the proposed long runway. (Round your answer to the nearest whole percent.) 3-b. Should it be built considering IRR?

Your classmates are a group of friends who have decided to open a small retail shop. The team is torn between two storefront ideas. The first idea is to open a high-end antique store, selling household items used for decorations in upscale homes. Members of the team have found a location in a heavily pedestrian area near a local coffee shop. The store would have many items authenticated by a team member’s uncle, who is a certified appraiser. In discussing the plan, however, two group members suggest shifting to a drop-off store for online auctions such as eBay. In this business model, customers drop off items they want to sell, and the retail store does all the logistics involved – listing and selling the items on eBay, and then shipping them to buyers – for a percentage of the sales price. They suggest that a quick way to get started is to become a franchisee for a group such as “I Sold It”

Questions

1. What is the business strategy for each store concept?
2. How would the organizational structure be different for the concepts?

Make-or-Buy Decision

Zion Manufacturing had always made its components in-house. However, Bryce Component Works had recently offered to supply one component, K2, at a price of $26 each. Zion uses 13,000 units of Component K2 each year. The cost per unit of this component is as follows:

Assume that 75% of Zion Manufacturing's fixed overhead for Component K2 would be eliminated if that component were no longer produced.

Required:

1. CONCEPTUAL CONNECTION: If Zion decides to purchase the component from Bryce, by how much will operating income increase or decrease?
Increase  $

Which alternative is better?
Purchase the component from Bryce

2. CONCEPTUAL CONNECTION: Briefly explain how increasing or decreasing the 75% figure affects Zion’s final decision to make or purchase the component.

As the percentage of avoidable fixed cost increases (above 75%), total relevant costs of making the component increase, causing the “purchase” decision to be more financially appealing (compared to the “make” option) than it was when the percentage was 75%. In other words, as the percentage increases, difference between the “purchase” and “make” options increases resulting in the “purchase” decision being even more  attractive. Alternatively, as the percentage of avoidable fixed costs decreases, the “make” option eventually is equally  costly and as equally  appealing financially as the “purchase” option. Finally, as the percentage of avoidable fixed cost decreases low enough and the total relevant costs of making the component decrease, the “make”  option becomes the more financially appealing option

3. CONCEPTUAL CONNECTION: By how much would the per-unit relevant fixed cost have to decrease before Zion would be indifferent (i.e., incur the same cost) between “making” versus “purchasing” the component? If necessary, round your answer to two decimal places.

%

Make-or-Buy Decision: Zion Manufacturing had always made its components in-house. However, Bryce Component Works had recently offered to supply one component, K2, at a price of $28 each. Zion uses 12,500 units of Component K2 each year. The cost per unit of this component is as follows:

Assume that 75% of Zion Manufacturing's fixed overhead for Component K2 would be eliminated if that component were no longer produced.

Required:

1. CONCEPTUAL CONNECTION: If Zion decides to purchase the component from Bryce, by how much will operating income increase or decrease?

Which alternative is better?
Purchase the component from Bryce

2. CONCEPTUAL CONNECTION: Briefly explain how increasing or decreasing the 75% figure affects Zion’s final decision to make or purchase the component.

As the percentage of avoidable fixed cost increases (above 75%), total relevant costs of making the component increase, causing the “purchase” decision to be more  financially appealing (compared to the “make” option) than it was when the percentage was 75%. In other words, as the percentage increases, difference between the “purchase” and “make” options increases resulting in the “purchase” decision being even more  attractive. Alternatively, as the percentage of avoidable fixed costs decreases, the “make” option eventually is equally  costly and as equally appealing financially as the “purchase” option. Finally, as the percentage of avoidable fixed cost decreases low enough and the total relevant costs of making the component decrease, the “make”  option becomes the more financially appealing option

3. CONCEPTUAL CONNECTION: By how much would the per-unit relevant fixed cost have to decrease before Zion would be indifferent (i.e., incur the same cost) between “making” versus “purchasing” the component? If necessary, round your answer to two decimal places.

%

Classify the following descriptions as either Inferential statistics or descriptive statistics. Enter I if it is inferential statistics. Enter D if it is descriptive statistics.

The average age of the students enrolled in Statistics last semester was 29.7 years old.

There is a relationship between attending class and the grade you receive in the class.

Based on a random sample, it was concluded that the average cost of a hotel room in Chicago was greater than one in Atlanta.

A survey of 100 Statistics students found that the median score for test #1 was a 78.4%.

A study has concluded that the average credit card debt of college graduates had increased from the year 2009 to 2010.

The average Amazon.com rating of the book "The Complete Idiot's Guide to Statistics" by twenty-six reviews is 4.6 on a scale of 1 to 5.

For this assignment you will be creating a basic Hotel Reservation System. The program must meet the following guidelines:

• User can reserve up to 3 rooms at a time
  • Your program will need to loop through to continue to ask needed questions to determine cost.
• Room rates (room variants):
  • Suite $250
  • 2 Queens $150
  • 1 King $175
  • Ocean view add $50
  • Fridge for Room $25
  • Pets additional $50
• Sales tax rate will be 5.5%
• Your program will show out the total for each room reserved after the user has put in the necessary information. Once all rooms are entered the program will print out the grand total.

Make sure you are using Variables, Looping, and decision statements!

You are planning on flying out of an airport on a trip. The airport parking garage charges $6 per day for the first four days, $4 per day for the next three days and $2 per day thereafter. A parking garage just outside the airport charges $5 per day and provides a free shuttle to the airport. When is it more cost-effective to park at the airport parking garage?

Your solution MUST include responses to ALL four parts. a) Understand the problem. Restate the problem in your own words. What do you know from the reading the problem? What are you looking for? What type of problem is this? What is needed in order to solve the problem?

b) Make a plan. State your plan for solving this problem. You may use words or diagrams. You might want to consider making a table, drawing a diagram, looking for a pattern, or building an equation or model.

c) Implement your plan. Once you have articulated your plan, carry out your plan. Using the information given, create mathematical model, an equation that you can use to determine when it will be more cost-effective to park at the airport parking garage. Clearly indicate how you arrived at that answer. Show your work! (*Even if using a calculator, discuss how and why you took the steps you did, not just what buttons you pushed.)

d) Look back. Is your answer reasonable? Can you find a way to check your work? Interpret your results. Remember that you have multiple representations – words, tables, graphs, and equations. Can you find another way to look at this problem that would allow you to check that your solution is correct? Interpret the answers in the context of the original application.

using the schedule from unit 3 assignment, estimate the cost for each activity.

Unit 3 Case Assignment (Wedding) – Baseline Schedule of activities.

WBS # DESCRIPTION RESPONSIBLE Duration
1 Budget & Planning Tony 9 days
1.1 Create a Timeline Peggy Sue 2
1.2 Estimate Budget Tony 2
1.3 Evaluate Estimated Budget/Timeline & Actual Cost of Wedding Tony 5
2 Guest List Peggy Sue 33 days
2.1 Determine Guest List Tony 7
2.2 Create & Mail “Save the Date” Peggy Sue 7
2.3 Send Invitations Peggy Sue 7
2.4 Collect Responses Tony 7
2.5 Finalize Seating Chart Peggy Sue 5
3 Bridal Peggy Sue 55 days
3.1 Determine Bridal Party Peggy Sue & Tony 15
3.2 Purchase Wedding Apparel Carmella 20
3.3 Plan Bridal Party Events Carmella 15
3.4 Purchase Marriage License Tony 5
4 Honeymoon Carmella 10 days
4.1 Confirm Destination & Dates Peggy Sue 5
4.2 Book Travel & Hotel Carmella 3
4.3 Confirm Booking & Payment Details Tony 2
5 Venue & Vendors Peggy Sue 53 days
5.1 Book Venue for Ceremony, Reception & Rehearsal Dinner Peggy Sue 12
5.2 Select Vendors Tony 6
5.3 Select Officiant Mildred 5
5.4 Hire Photographer/Videographer Peggy Sue 5
5.6 Reserve Hotel Block Mildred 5
5.7 Hire Transportation Mildred 5
5.8 Finalize Catering Menu Tony 5
5.9 Finalize Ceremony, Reception & Rehearsal Dinner Set-up Mildred 10

Health Economics quiz

1. The Evanston North acquisition of Highland Park hospital was unusual because:
   1. The FTC opened its investigation after the merger was consummated.
   2. Evanston North alleged substantial efficiencies were only available to the merged firm.
   3. The FTC had actual evidence of post-merger pricing with which to assess the competitive effects of the merger.
   4. The attorneys for ENK hired economists to conduct empirical   analysis of geographic market definition.
2. Did the FTC win the first round at the ALJ in its litigation against ENH?
   1. Yes
   2. No
3. On appeal, ENH’s case was judged by the Commission.
   1. True
   2. False
4. The Commission voted to uphold the FTC case against ENH.
   1. True
   2. False
5. The FTC initially sought to have ENH divest Highland Park but later settled for a provision that EN and Glendale must negotiate with payors such as Blue Cross/Blue Shield independently.
   1. True
   2. False
6. Which was the most dispositive evidence that the merger was anticompetitive:
   1. Concentration in the antitrust market was made substantially more concentrated by the merger.
   2. EN documents referred to Highland Park’s imposition of price discipline on EN.
   3. Price data was analyzed by Commission economists that showed substantial post-merger price increases.
   4. Documentary evidence of collusion among the five hospitals remaining after merger.
7. Following the Commission’s win over the merger defendants private parties filed suit against ENH for damages from price fixing.
   1. True
   2. False
8. Not all hospital patients can afford to pay for their hospital care and, as well, hospitals are not allowed to turn emergency room patients down or divert them to other hospitals. Allegedly, hospitals make up the deficit through cost shifting.
   1. True
   2. False
9. Unlike regulated firms cost shifting by hospitals is essentially price discrimination.
   1. True
   2. False

(Define and provide real world construction
examples for each):

1. CONSTRUCTIVE CHANGE;

2.DETRIMENTAL RELIANCE;

3.CONSTRUCTION CHANGE DIRECTIVE;
4. DELETION CLAUSE;
5.ACCORD AND SATISFACTION.