A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 sales in Arlington in the first quarter of 2009 for the analysis. A portion of the data is shown in the accompanying table.

a. Estimate the model Price =  β₀ + β₁Sqft + β₂Beds + β₃Baths + ε. (Round Coefficients to 2 decimal places.)

b-1. Interpret the coefficient of sqft.

• For every additional square foot, the predicted price of a home increases by $107.67.

• For every additional square foot, the predicted price of a home increases by $107.67, holding number of bedrooms and bathrooms constant.

• For every additional square foot, the predicted price of a home increases by $107.67, holding square foot, number of bedrooms and bathrooms constant.

b-2. Interpret the coefficient of beds.

• For every additional bedroom, the predicted price of a home increases by $13,699.54.

• For every additional bedroom, the predicted price of a home increases by $13,699.54, holding square footage and number of baths constant.

• For every additional bedroom, the predicted price of a home increases by $13,699.54, holding square foot, number of bedrooms and bathrooms constant.

b-3. Interpret the coefficient of baths.

• For every additional bathroom, the predicted price of a home increases by $82,074.78.

• For every additional bathroom, the predicted price of a home increases by $82,074.78, holding square footage and number of bedrooms constant.

• For every additional bathroom, the predicted price of a home increases by $82,074.78, holding square foot, number of bedrooms and bathrooms constant.

c. Predict the price of a 2,078 square-foot home with two bedrooms and one bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.)

price= $

A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 sales in Arlington in the first quarter of 2009 for the analysis. A portion of the data is shown in the accompanying table.

Price   Sqft   Beds   Baths
728000   2399   4   2.5
822000   2500   4   2.5
713000   2400   3   3.0
689000   2200   3   2.5
685000   2716   3   3.5
838500   3281   4   2.5
432692   1891   3   1.5
620000   2436   4   3.5
718056   2567   3   2.5
585000   1947   3   1.5
795000   3033   4   3.5
569000   3262   4   2.0
546000   1792   3   2.0
540000   1488   3   1.5
537000   2907   3   2.5
344000   1301   3   1.0
738111   2531   4   2.5
714000   2418   4   3.0
693000   2369   4   3.0
463000   1714   3   2.0
457000   1650   3   2.0
631400   2359   4   3.0
435000   1500   3   1.5
431700   1896   2   1.5
414000   1182   2   1.5
401500   1152   3   1.0
319200   1106   3   1.0
253333   896   3   1.0
475000   1590   3   2.0
375900   2275   5   1.0
620000   1675   3   2.0
459375   1590   3   2.0
534750   2147   3   3.0
247500   1022   2   1.0
247500   1099   2   1.0
307500   850   1   1.0

Estimate the model Price =  β₀ + β₁Sqft + β₂Beds + β₃Baths + ε. (Round Coefficients to 2 decimal places.)

b-1. Interpret the coefficient of sqft.

• For every additional square foot, the predicted price of a home increases by $102.74.

• For every additional square foot, the predicted price of a home increases by $102.74, holding number of bedrooms and bathrooms constant.

• For every additional square foot, the predicted price of a home increases by $102.74, holding square foot, number of bedrooms and bathrooms constant.

b-2. Interpret the coefficient of beds.

• For every additional bedroom, the predicted price of a home increases by $17,808.68.

• For every additional bedroom, the predicted price of a home increases by $17,808.68, holding square footage and number of baths constant.

• For every additional bedroom, the predicted price of a home increases by $17,808.68, holding square foot, number of bedrooms and bathrooms constant.

b-3. Interpret the coefficient of baths.

• For every additional bathroom, the predicted price of a home increases by $100,202.60.

• For every additional bathroom, the predicted price of a home increases by $100,202.60, holding square footage and number of bedrooms constant.

• For every additional bathroom, the predicted price of a home increases by $100,202.60, holding square foot, number of bedrooms and bathrooms constant.

c. Predict the price of a 2,188 square-foot home with four bedrooms and three bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.)

PriceˆPrice^               $

rev: 12_10_2018_QC_CS-151075, 02_21_2019_QC_CS-159957, 02_25_2019_QC_CS-160205

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TOXIC RECREATIONAL CENTER ENVIRONMENTAL RACISM?

The growing concern for the environment has increased public interest in the need for eco-friendly cities.  Baltimore City residents and policymakers are, therefore, becoming more environmentally conscious in the development and rehabilitation of  the city. The management of Baltimore City is becoming increasingly more complex as city is experiencing, crime including political corruption,  socio-economic divisiveness, racial segregation, dwindling tax base and stalled physical and economic growth. Remembering you are the Assistant Director of Recreation and Parks for the City of Baltimore. You are the trouble shooter and problem solver for the city residents and the parks department. When something happens in this city you are the go-to person they  (The Director of Recreation and Parks, The Mayor and, The City Council) turn to you, you are respected, experienced and well educated so your decisions actual become departmental policy.

Urban growth in East Baltimore has led to an increase in land values; thus, leading to competition between land uses including the demarcation of land for urban parks. The indirect economic benefits of urban parks make it difficult to place an economic value on them; thus, affecting the ability for policymakers to assess their true cost and benefits. This adversely affects the level of investment in the development of parks which limits the sustainable management of parks. Strigl (2003) describes the sustainable management of parks as the efficient and effective organization of park use through negotiations, comprises, and consensus building among stakeholders. However, recent news reports and complaints by residents in the city, especially West Baltimore and its residents who have been severely neglected in terms of  overall development and improvements because of crime, abject poverty and socio-economic demographics which prevented the private sector developers from investing in the area. In addition, the West Baltimore area houses some of the poorest areas of the city and some of the worst areas in terms of city services according to residents and outside observers. This is especially true regarding parks and recreation facilities in the West Baltimore area. Recently a park refurbishment in the Harlem Park section of West Baltimore was halted due to concerns by environmentalist that the grounds where the park was being built were contaminate decades ago during early part of the 19^th century by an automobile battery factory owned by General Motors. The environmentalist have determined through studies that the company upon closing the factory have buried thousands of tons of automobile batteries and chemicals underground which have been slowly leeching out into the grounds of the park.  However, during the initial development of the park several soil samples have been taken by several different groups including the Federal government through the Environmental Protection Agency (EPA), The State of Maryland Department of Environment and The Baltimore City Department of Environmental control all signed off on the project. government indicating that the grounds under park were safe and free from harmful levels of contamination and the project was greenlighted by the Mayor, The City Council, and numerous other elected officials, neighborhood association leaders, celebrities and the surrounding community. The project was viewed as a resounding success and the park was expanded into a neighborhood recreational facility complete with a food bank, job training center, daycare and senior center  and numerous sports programs and activities for the community. The facility is currently viewed as model for urban revitalization of impoverished communities nationwide. It has evolved from a simple clearing of abandoned homes to a large recreational center with the possibility of further expansion. It has attracted numerous volunteers, donors throughout the country

In spite of the success of the facility and its effects on the neighborhood a recent Netflix Documentary/investigation about the extremely high cancer rate amongst residents  in the West Baltimore, Maryland 21215-area code surrounding the facility and neighborhood. After the documentary investigation more samples were taken of the soil and investigation of the processes undertaken to complete the project. In addition , the Maryland Department of Health, Johns Hopkins University, and several other public and private hospitals and concerned citizens formed a consortium to investigate the allegations outlined in the documentary. The consortiums findings revealed that the facility should have never been built on the site and it was highly likely that the site and the underground contamination were possibly the root causes in the high levels of cancer, asthma, skin rashes, COPD, suffered by the residents and patrons on the facility. In the mad rush to open the facility and under pressure by the constituents and the media someone signed off on the project. Further investigation has found that the culprits who were involved in green lighting the project are either deceased or retired so there would be one alive to held accountable, no criminal convictions, arrests, indictments but there will be a Class Action Lawsuit by the residents. Currently the facility has been ordered closed temporarily by the city effective April 20, 2020  based on recommendations by the consortium researching the situation while further tests and a solution to correct the problem is discovered. However, the summer months are coming up and the need by all stakeholders is to get out in front of this issue ASAP by coming up with a plan.

The Mayor of the City of Baltimore has ordered an Emergency Action Plan to be developed by the Department of Recreation & Parks. The Director of Recreation and Parks has asked you to come up with a plan to determine what are the essential programs and how to transfer/ temporarily move those services to other organizations in the area to keep the programs operating. Because many of the programs utilize separate funding specifically for their programs based upon participation it is essential that there be no disruption of their program or they would lose funding for the program  Your directives coming from the Mayor, the Director of Parks & Recreation, and other city leaders is to first address the community in a Town Hall Meeting at a local church in the area.

In order to address the conflicts between the environmental and economic use of land; planners, park administrators and advocates need to combine their procedural and substantive skills and become central players in dealing with the conflict between growth, environment and social justice (Campbell 2011). The Baltimore City government and the Baltimore City Recreation & Parks authorities are also confronted and pressured with the problem of gentrification, budget challenges, appeasing various ethnic and cultural groups, socio-economic challenges, funding, creation, management and maintenance of urban parks and recreation. Despite their social and ecological benefits some of these projects will continue to move forward in an effort to appease constituents and the public. These competing interests make dealing with most urban issues such as the management of parks complex and costly; thus, the need to study some of the factors that influence the urban park development. The ability of recreation and park professional to conduct critical analysis, make strategic decisions make it imperative that leadership in the field be knowledgeable and taken seriously because the importance of recreation and parks cannot and should not be underestimated.

QUESTIONS:

1. You will write a statement( 1 page) on behalf of the Department of Parks & Recreation position of the issue, addressing the constituents, parents/children, vendors, staff, and all members of the community regarding the Recreation Center current status and what will be done to continue the programs and services offered be the community.
2. You will develop an emergency action plan to move the essential programs and services to other organizations, and entities in the community and determine the best way to notify the community of these changes.
3. You will develop a table outlining where the essential programs will be moved to and held.
4. Create a list of who you should approach and address with moving the programs and explaining the departments position. (simply cite the place where you obtain you references).

You recently returned from a trip to Berlin, Germany. You were there from April 1st to April 4th for a conference on World Tolerance. Before you left Abu Dhabi, on March 30th at 3:30pm, you called your bank, ADCB, and informed the bank that you were traveling and to ensure your credit card would not be blocked in Germany. The bank thanked you for the call, said the card would not be blocked and wished you a pleasant trip. Story About Your Trip in Berlin When you arrived in Berlin at 9am on April 1st, you got a taxi at the airport and took the taxi to the hotel. You paid 30euros for the trip with your credit card. Then you checked into the hotel at noon without problems because you booked and paid for the hotel online before your trip. At 1pm, you decided to go for a walk around Berlin before the conference started the next day. You saw a cute little tea-shop and decided to buy packages of tea for your family and friends. You took your packages to the counter and tried to pay. You were horrified to find out your credit card would not work. You have enough credit on your card and there shouldn’t be anything wrong. You are so embarrassed because you can’t pay for the tea and everyone in line is looking at you. On top of that, you now have 3 more days in Berlin and you can’t access money because your card is blocked. You run back to the hotel and call the bank. They confirm your card is blocked because you are in Germany. You explain that you called before your trip to make sure this would not happen. The bank said, “We are sorry for the inconvenience. There is nothing they can do at the time”. The bank said it would take 3-5 business days to fix the mistake, but that is too long. You are stuck in Berlin without any money. This means you have to take food from the hotel breakfast buffet and hide it in your room for dinner. You need to eat the snacks provided by the conference for your lunch. You must refuse invitations to lunch because you know you can’t pay. Also, you must ask someone at the conference for 10euros to take the subway back to the airport. You are absolutely humiliated. You couldn’t do anything in Berlin because you couldn’t access your credit card. You are so angry at the bank! Your trip was ruined. The only thing you could do in Berlin is to attend the conference and walk around the city and look at the stuff you couldn’t buy. You get home and decide to write a business letter to the customer service manager, Anke Kuse, at ADCB. The bank is in Abu Dhabi at the Airport Road Branch. The PO Box is 55567. You want the bank to refund your flight to Berlin and provide 5000aed in damages because their mistake ruined your trip. The total is 12400aed. This is your Abu Dhabi mailing address. You live in AlBateen in Villa #27 on 17th Street. Write your letter and submit both in the submission box (not comment box) and also upload the document.

You recently returned from a trip to Berlin, Germany. You were there from April 1st to April 4th for a conference on World Tolerance. Before you left Abu Dhabi, on March 30th at 3:30pm, you called your bank, ADCB, and informed the bank that you were traveling and to ensure your credit card would not be blocked in Germany. The bank thanked you for the call, said the card would not be blocked and wished you a pleasant trip.

Story About Your Trip in Berlin

When you arrived in Berlin at 9am on April 1st, you got a taxi at the airport and took the taxi to the hotel. You paid 30euros for the trip with your credit card.  Then you checked into the hotel at noon without problems because you booked and paid for the hotel online before your trip. At 1pm, you decided to go for a walk around Berlin before the conference started the next day.  You saw a cute little tea-shop and decided to buy packages of tea for your family and friends. You took your packages to the counter and tried to pay.  You were horrified to find out your credit card would not work.  You have enough credit on your card and there shouldn’t be anything wrong.  You are so embarrassed because you can’t pay for the tea and everyone in line is looking at you. On top of that, you now have 3 more days in Berlin and you can’t access money because your card is blocked.  

You run back to the hotel and call the bank. They confirm your card is blocked because you are in Germany. You explain that you called before your trip to make sure this would not happen. The bank said, “We are sorry for the inconvenience.  There is nothing they can do at the time”. The bank said it would take 3-5 business days to fix the mistake, but that is too long.  You are stuck in Berlin without any money.

This means you have to take food from the hotel breakfast buffet and hide it in your room for dinner. You need to eat the snacks provided by the conference for your lunch.  You must refuse invitations to lunch because you know you can’t pay. Also, you must ask someone at the conference for 10euros to take the subway back to the airport.  You are absolutely humiliated.  You couldn’t do anything in Berlin because you couldn’t access your credit card.  

You are so angry at the bank! Your trip was ruined.  The only thing you could do in Berlin is to attend the conference and walk around the city and look at the stuff you couldn’t buy. You get home and decide to write a business letter to the customer service manager, Anke Kuse, at ADCB.  The bank is in Abu Dhabi at the Airport Road Branch. The PO Box is 55567. You want the bank to refund your flight to Berlin and provide 5000aed in damages because their mistake ruined your trip. The total is 12400aed.  

This is your Abu Dhabi mailing address. You live in AlBateen in Villa #27 on 17th Street.

Problem 2. The US National Park Service (NPS) believes that airborne sulfur pollution and acid rain has significantly reducing the water quality in several lakes and streams in the Adirondacks State Park in NY. Many of these water bodies are considered biologically ‘dead.’ Coal fired power plants in the Midwest contribute most of the pollution. If 70% of the sulfur pollution was removed, the NPS believes that many of the lakes and streams would return to their natural biological state. The costs and benefits associated with this project are as follows:

1. Construction cost for sulfur removal equipment = $300 million for each of the first three years of the project. (During these three years there are no other costs associated with the project.)

2. Operation and maintenance costs = $ 85 million per year (These costs begin to accrue once the project comes on-line in the fourth year. They continue to accrue over the entire life of the equipment, i.e., through the 20th year.)

3. Estimated increase in revenues earned by the Adirondacks State Park = $ 150 million per year (These additional revenues accrue so long as the sulfur reduction equipment is operating.)

4. Reduced incidence of acid rain in the Adirondacks Park area valued at: = $ 2 million per year. (These benefits begin accruing once the project comes on-line and are assumed to continue over an infinitely long time period.) Assume that the discount rate is 3% per year.

Sensitivity analysis: To determine the sensitivity of your conclusion regarding whether the project makes economic sense or not, (a) evaluate the project at a discount rate of 5% per year, and (b) assume that the estimated increase in Park revenues is $130 million per year instead of $150 million per year. You can assume a discount rate of 3% per year for this. What is your conclusion now?

Policy recommendation: Based on all your calculations, what is your overall recommendation regarding this project?

PROBLEM IV Binghamton University is building a recreation center. The estimated construction cost is $12 million with annual staffing and maintenance costs of $750,000 over the 20-year life of the project (ie, t = 0, 1, 2, …, 19). At the end of the life of the project (ie, at t = 19), Binghamton expects to be able to sell the land for $4 million, though the amount could be as low as $2 million and as high as $5 million. Analysts estimate the first-year benefits (accruing at the end of the year of the first year, ie at t =1) to be $1.2 million. They expect the annual benefit to grow in real terms due to increases in population and income. Their prediction is an annual growth rate of 4 percent, but it could be as low as 1 percent or as high as 6 percent. Analysts also estimate the real discount rate for Binghamton to be 6 percent per year, though it could be a percentage point lower or higher.

1. Calculate the present value of net benefits for this project using the analysts’ predictions.

2. Investigate the sensitivity of the present value of net benefits to alternative projections within the ranges given by the analysts. Change only one assumption at a time, and try all possible combinations of assumptions (there are 27 possible combinations).

3. Based on your analysis on parts 1 and 2 of this problem, do you think Binghamton University should build the recreation center?

A massive oil spill in the gulf unleashes approximately 20,311 barrels of oil into the Gulf each hour. This creates an expanding circular layer of oil on the water’s surface about 1/16 inches thick with the center being the source of the spill. Letting R(t) represent the radius (in miles) t hours after 6:00pm, the growing radius of this oil spill can be modeled by the formula: R(t)=1/2 √(t+1) A.) What time did this spill start? (When was the radius zero?) B.) Fill in the table below: (round your answer to 2 decimal places) Table 1 t hours 0 .5 1 1.5 2 2.5 3 3.5 4 4.5 R(t) miles C.) If left unchecked, how long will it take this oil spill to reach a 2 mile radius? The nearest containment crew is on the Louisiana coast 50 miles away. At 6:00 pm, containment vessels instantly head towards the center of this spill, but the fastest these containment ships can travel is only 15 mph. D.) Write an equation that represents the distance D(t) in miles that the containment vessel is from the center of the spill t hours after 6:00 pm. E.) Fill in the table below: Table 2 t hours 0 .5 1 1.5 2 2.5 3 3.5 4 4.5 D(t) miles F.) When will the containment vessels reach the center of spill? G.) By observing the two tables above, in which 30 minute interval will the containment vessels reach the outer edge of the spill? H.) Algebraically find exactly (to the nearest minute) when the containment vessels will reach the outer edge of the oil spill. You should get two answers…explain them. I.) What is the radius of the oil spill at this time? J.) To manage the spill, one containment vessel is needed every 800 feet around the outer circumference of the spill. How many vessels do they need? (5280 ft. = 1 mile)

Cincinnati Paint Company sells quality brands of paints through hardware stores throughout the United States. The company maintains a large sales force who call on existing customers and look for new business. The national sales manager is investigating the relationship between the number of sales calls made and the miles driven by the sales representative. Also, do the sales representatives who drive the most miles and make the most calls necessarily earn the most in sales commissions? To investigate, the vice president of sales selected a sample of 25 sales representatives and determined:

• The amount earned in commissions last month (y)
• The number of miles driven last month (x₁)
• The number of sales calls made last month (x₂)

The information is reported below.

Develop a regression equation including an interaction term. (Negative amount should be indicated by a minus sign. Round your answers to 3 decimal places.)

Comissions= ______+_______ calls +__________ Miles +__________

Complete the following table. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

Compute the value of the test statistic corresponding to the interaction term. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.)

Cincinnati Paint Company sells quality brands of paints through hardware stores throughout the United States. The company maintains a large sales force whose job it is to call on existing customers as well as look for new business. The national sales manager is investigating the relationship between the number of sales calls made and the miles driven by the sales representative. Also, do the sales representatives who drive the most miles and make the most calls necessarily earn the most in sales commissions? To investigate, the vice president of sales selected a sample of 25 sales representatives and determined:

The amount earned in commissions last month (Y).

The number of miles driven last month (X1)

The number of sales calls made last month (X2)

Click here for the Excel Data File

Develop a regression equation including an interaction term. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.)

A.) Commissions =_______ +________ Calls +________ Miles +______ X1X2

B.) Complete the following table. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.)

Predictor Coefficient    SE Coefficient    T P-value

Constant _______         __________    ___   _________

Calls

Miles

X1X2

C.) Compute the value of the test statistic corresponding to the interaction term. (Round your answer to 2 decimal places. Negative amount should be indicated by a minus sign.)

Cade Industries operates a fleet of delivery vehicles that make scheduled pickups and deliveries for its customers in the Boulder area. The company is implementing an activity based costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service and Other. The activity measures are as follows for each of the cost pools: Travel – Miles; Pickups and Deliveries - # of Pickups and Deliveries; Customer Service - # of Customers. The Other cost pool has no activity measure because it is an organization-sustaining activity. The following costs will be assigned using the activity based costing system:

The distribution of resource consumption across the activity cost pools is as follows:

1. If the company had the following activity, complete the Second Stage Allocations. Calculate to the nearest tenth of a penny.
   1. Miles Driven – 1,000,000
   2. Pickups and Deliveries – 5,000
   3. Number of Customers – 1,500
2. During 2018, Cade completed a number of deliveries for one of it’s customer’s Tank 7 Industries. Cade calculates revenues based on the miles driven. During the year, Cade drove 25,000 miles on 30 deliveries for Tank 7 Industries. Cade charges a premium on any deliver that is 250 miles or less of $100/delivery. Six of Tank 7’s deliveries were subject to this $100 surcharge. Cade charges Tank 7 $1.75/mile driven (plus any surcharges). Determine the profitability of Tank 7 Industries in 2018 for Cade.
3. Just do question 2. Please show all work