1. What is the outcome of this case? (Guilty, not guilty, acquitted, etc.) (2-3 sentences)
2. What is the author's basis of dissent OR basis or support for upholding the opinion of the court? (1 full paragraph)
3. How does this judicial opinion (and general case) increase your understanding of what has been learned/discussed during this time period of the class and the events within it? Explain how this case is historically significant to what we have learned. (I full paragraph)
U.S. Supreme Court
Dennis v. United States, 341 U.S. 494 (1951)
Dennis v. United States
No. 336
Argued December 4, 1950
Decided June 4, 1951
341 U.S. 494
MR. CHIEF JUSTICE VINSON announced the judgment of the Court and an opinion in
which MR. JUSTICE REED, MR. JUSTICE BURTON and MR. JUSTICE MINTON join.
The obvious purpose of the statute is to protect existing Government not from change
by peaceable, lawful and constitutional means, but from change by violence, revolution
and terrorism. That it is within the power of the Congress to protect the Government of
the United States from armed rebellion is a proposition which requires little discussion.
Whatever theoretical merit there may be to the argument that there is a "right" to
rebellion against dictatorial governments is without force where the existing structure of
the government provides for peaceful and orderly change. We reject any principle of
governmental helplessness in the face of preparation for revolution, which principle,
carried to its logical conclusion, must lead to anarchy. No one could conceive that it is
not within the power of Congress to prohibit acts intended to overthrow the Government
by force and violence. The question with which we are concerned here is not whether
Congress has such power, but whether the means which it has employed conflict with
the First and Fifth Amendments to the Constitution.
One of the bases for the contention that the means which Congress has employed are
invalid takes the form of an attack on the face of the statute on the grounds that, by its
terms, it prohibits academic discussion of the merits of Marxism-Leninism, that it stifles
ideas and is contrary to all concepts of a free speech and a free press.
The very language of the Smith Act negates the interpretation which petitioners would
have us impose on that Act. It is directed at advocacy, not discussion. Thus, the trial
judge properly charged the jury that they could not convict if they found that petitioners
did "no more than pursue peaceful studies and discussions or teaching and advocacy in
the realm of ideas." He further charged that it was not unlawful" to conduct in an
American college or university a course explaining the philosophical theories set forth in
the books which have been placed in evidence."
In this case, we are squarely presented with the application of the "clear and present
danger" test, and must decide what that phrase imports.
Obviously, the words cannot mean that, before the Government may act, it must wait
until the putsch is about to be executed, the plans have been laid and the signal is
awaited. If Government is aware that a group aiming at its overthrow is attempting to
indoctrinate its members and to commit them to a course whereby they will strike when
the leaders feel the circumstances permit, action by the Government is required. The
argument that there is no need for Government to concern itself, for Government is
strong, it possesses ample powers to put down a rebellion, it may defeat the revolution
with ease needs no answer. For that is not the question. Certainly an attempt to
overthrow the Government by force, even though doomed from the outset because of
inadequate numbers or power of the revolutionists, is a sufficient evil for Congress to
prevent. The damage which such attempts create both physically and politically to a
nation makes it impossible to measure the validity in terms of the probability of success,
or the immediacy of a successful attempt. In the instant case, the trial judge charged the
jury that they could not convict unless they found that petitioners intended to overthrow
the Government "as speedily as circumstances would permit." This does not mean, and
could not properly mean, that they would not strike until there was certainty of success.
What was meant was that the revolutionists would strike when they thought the time
was ripe. We must therefore reject the contention that success or probability of success
is the criterion.
Chief Judge Learned Hand, writing for the majority below, interpreted the phrase as
follows:
"In each case, [courts] must ask whether the gravity of the 'evil,' discounted by its
improbability, justifies such invasion of free speech as is necessary to avoid the
danger." We adopt this statement of the rule. As articulated by Chief Judge Hand, it is
as succinct and inclusive as any other we might devise at this time. It takes into
consideration those factors which we deem relevant, and relates their significances.
More we cannot expect from words.
Likewise, we are in accord with the court below, which affirmed the trial court's finding
that the requisite danger existed. The mere fact that, from the period 1945 to 1948,
petitioners' activities did not result in an attempt to overthrow the Government by force
and violence is, of course, no answer to the fact that there was a group that was ready
to make the attempt. The formation by petitioners of such a highly organized
conspiracy, with rigidly disciplined members subject to call when the leaders, these
petitioners, felt that the time had come for action, coupled with the inflammable nature
of world conditions, similar uprisings in other countries, and the touch-and-go nature of
our relations with countries with whom petitioners were in the very least ideologically
attuned, convince us that their convictions were justified on this score. And this analysis
disposes of the contention that a conspiracy to advocate, as distinguished from the
advocacy itself, cannot be constitutionally restrained, because it comprises only the
preparation. It is the existence of the conspiracy which creates the danger…if the
ingredients of the reaction are present, we cannot bind the Government to wait until the
catalyst is added.
We hold that §§ 2(a)(1), 2(a)(3) and 3 of the Smith Act do not inherently, or as
construed or applied in the instant case, violate the First Amendment and other
provisions of the Bill of Rights, or the First and Fifth Amendments because of
indefiniteness. Petitioners intended to overthrow the Government of the United States
as speedily as the circumstances would permit. Their conspiracy to organize the
Communist Party and to teach and advocate the overthrow of the Government of the
United States by force and violence created a "clear and present danger" of an attempt
to overthrow the Government by force and violence. They were properly and
constitutionally convicted for violation of the Smith Act. The judgments of conviction are
upheld.
MR. JUSTICE BLACK, dissenting.
At the outset, I want to emphasize what the crime involved in this case is, and what it is
not. These petitioners were not charged with an attempt to overthrow the Government.
They were not charged with overt acts of any kind designed to overthrow the
Government. They were not even charged with saying anything or writing anything
designed to overthrow the Government. The charge was that they agreed to assemble
and to talk and publish certain ideas at a later date: the indictment is that they conspired
to organize the Communist Party and to use speech or newspapers and other
publications in the future to teach and advocate the forcible overthrow of the
Government. No matter how it is worded, this is a virulent form of prior censorship of
speech and press, which I believe the First Amendment forbids. I would hold § 3 of the
Smith Act authorizing this prior restraint unconstitutional on its face and as applied.
But let us assume, contrary to all constitutional ideas of fair criminal procedure, that
petitioners, although not indicted for the crime of actual advocacy, may be punished for
it. Even on this radical assumption, the other opinions in this case show that the only
way to affirm these convictions is to repudiate directly or indirectly the established "clear
and present danger" rule. This the Court does in a way which greatly restricts the
protections afforded by the First Amendment. The opinions for affirmance indicate that
the chief reason for jettisoning the rule is the expressed fear that advocacy of
Communist doctrine endangers the safety of the Republic. Undoubtedly a governmental
policy of unfettered communication of ideas does entail dangers. To the Founders of
this Nation, however, the benefits derived from free expression were worth the risk.
They embodied this philosophy in the First Amendment's command that "Congress shall
make no law . . . abridging the freedom of speech, or of the press. . . ." I have always
believed that the First Amendment is the keystone of our Government, that the
freedoms it guarantees provide the best insurance against destruction of all freedom. At
least as to speech in the realm of public matters, I believe that the "clear and present
danger" test does not "mark the furthermost constitutional boundaries of protected
expression," but does "no more than recognize a minimum compulsion of the Bill of
Rights."
So long as this Court exercises the power of judicial review of legislation, I cannot agree
that the First Amendment permits us to sustain laws suppressing freedom of speech and press on the basis of Congress' or our own notions of mere "reasonableness." Such
a doctrine waters down the First Amendment so that it amounts to little more than an
admonition to Congress. The Amendment as so construed is not likely to protect any
but those "safe" or orthodox views which rarely need its protection.
Public opinion being what it now is, few will protest the conviction of these Communist
petitioners. There is hope, however, that, in calmer times, when present pressures,
passions and fears subside, this or some later Court will restore the First Amendment
liberties to the high preferred place where they belong in a free society
In: Economics
I'm have trouble change JRadioButton and do not want to select all at the same time just one at a time. if one of them is unselected, then set the font as plain. Set font size as 20.
run the program and change the font and you see what I'm talking about
also this there anyway to shorten my code
import java.awt.BorderLayout;
import java.awt.Color;
import java.awt.Desktop;
import java.awt.Font;
import java.awt.event.*;
import java.net.URL;
import java.io.BufferedReader;
import java.io.BufferedWriter;
import java.io.FileReader;
import java.io.FileWriter;
import javax.swing.JCheckBox;
import javax.swing.JColorChooser;
import javax.swing.JFileChooser;
import javax.swing.JFrame;
import javax.swing.JMenu;
import javax.swing.JMenuBar;
import javax.swing.JMenuItem;
import javax.swing.JOptionPane;
import javax.swing.JRadioButton;
import javax.swing.JScrollPane;
import javax.swing.JTextArea;
import javax.swing.KeyStroke;
//MyMenuFrame will use Jframe with actionlistener
public class MyMenuFrame extends JFrame implements
ActionListener{
//creating the main menu items
JMenu menuEdit = new JMenu("Edit");
JMenu menuPrint = new JMenu("Print");
JMenu mnFile = new JMenu("File");
JMenu menuHelp = new JMenu("Help");
//creating the submenu items here because we are gonna use these
across the code
JRadioButton subMenuItem1 = new JRadioButton("Times New
Roman");
JRadioButton subMenuItem2 = new JRadioButton("Arial");
JRadioButton subMenuItem3 = new JRadioButton("Serif");
JCheckBox subMenuItem4 = new JCheckBox("Bold");
JCheckBox subMenuItem5 = new JCheckBox("Italic");
//provide scrollable view of a component
JScrollPane scrollPane;
//creating notePadArea for notepad to input the text
JTextArea notePadArea;
public MyMenuFrame() {
//setting the border layout for JFrame
this.setLayout(new BorderLayout());
// create menu bar named menuBar
JMenuBar menuBar = new JMenuBar();
this.setJMenuBar(menuBar);//adding the menubar to JFrame
// create File menu
mnFile.setMnemonic(KeyEvent.VK_F);//Alt+F
menuBar.add(mnFile);//adding the menufile
// create Open menu item
JMenuItem mntmOpen = new JMenuItem("Open");//creating the Open menu
mntmOpen.setMnemonic(KeyEvent.VK_O);//Alt+O command
mntmOpen.setActionCommand("open");//when the command equals to 'open' then the corresponding action will be performed
mntmOpen.setAccelerator(KeyStroke.getKeyStroke('O', KeyEvent.CTRL_DOWN_MASK));//respond when user clicks Ctrl+O
mntmOpen.addActionListener(this);//adding actionLister to the Menu Option Open
// create Save menu item
JMenuItem mntmSave = new JMenuItem("Save");//creating the Save menu
mntmSave.setMnemonic(KeyEvent.VK_S);//Alt+S command
mntmSave.setActionCommand("save");//when the command equals to 'save' then the corresponding action will be performed
mntmSave.setAccelerator(KeyStroke.getKeyStroke('S', KeyEvent.CTRL_DOWN_MASK));//respond when user clicks Ctrl+S
mntmSave.addActionListener(this);//adding actionLister to the Menu Option Save
// create Exit menu item
JMenuItem mntmExit = new JMenuItem("Exit");//creating the Exit menu
mntmExit.setMnemonic(KeyEvent.VK_X);//Alt+X command
mntmExit.setActionCommand("exit");//when the command equals to 'exit' then the corresponding action will be performed
mntmExit.setAccelerator(KeyStroke.getKeyStroke('X', KeyEvent.CTRL_DOWN_MASK));//respond when user clicks Ctrl+X
mntmExit.addActionListener(this);//adding actionLister to the Menu Option Exit
// add open, save and exit menu to menu-bar
mnFile.add(mntmOpen);
mnFile.addSeparator();//adding separator between open and save
mnFile.add(mntmSave);
mnFile.addSeparator();//adding separator between save and exit
mnFile.add(mntmExit);
// create Edit menu
menuEdit.setMnemonic(KeyEvent.VK_E);//creating shortcut menu when user press Alt+E
menuBar.add(menuEdit);//adding the Edit to the menubar
JMenu submenu1 = new JMenu("Color");//creating the new menu
which comes under Edit
submenu1.setMnemonic(KeyEvent.VK_C);//creating shortcut menu when
user press Alt+C
JMenuItem menuItem0 = new JMenuItem("Change Color");//creating
submenu item called change color
menuItem0.setAccelerator(KeyStroke.getKeyStroke('C',
KeyEvent.CTRL_DOWN_MASK));//it responds when user click
Ctrl+C
menuItem0.setActionCommand("color");//setting the command used to
call the correcponding action when user click this
menuItem0.addActionListener(this);//adding actionlistener
submenu1.add(menuItem0);//adding this menu item to submenu
menuEdit.add(submenu1);//adding this submenu to editmenu
menuEdit.addSeparator();//creating separator between Color and
Font
JMenu submenu = new JMenu("Font");//creating the new menu which
comes under Edit
submenu.setMnemonic(KeyEvent.VK_F);//creating shortcut menu when
user press Alt+F
subMenuItem1.setMnemonic(KeyEvent.VK_T);//creating shortcut menu
when user press Alt+T for Times New Roman
subMenuItem1.setActionCommand("times_new_roman");//setting the
command used to call the correcponding action when user click
this
subMenuItem1.addActionListener(this);//adding actionlistener
submenu.add(subMenuItem1);//adding to the submenu
subMenuItem2.setMnemonic(KeyEvent.VK_A);//creating shortcut key
Alt+A
subMenuItem2.setActionCommand("arial");//respond when the command
equals to arial
subMenuItem2.addActionListener(this);//adding action listener
submenu.add(subMenuItem2);//adding it to the submenu
subMenuItem3.setMnemonic(KeyEvent.VK_S);
subMenuItem3.setActionCommand("serif");
subMenuItem3.addActionListener(this);
submenu.add(subMenuItem3);
submenu.addSeparator();
subMenuItem4.setMnemonic(KeyEvent.VK_B);
subMenuItem4.setActionCommand("bold");
subMenuItem4.addActionListener(this);
submenu.add(subMenuItem4);
subMenuItem5.setMnemonic(KeyEvent.VK_I);
subMenuItem5.setActionCommand("italic");
subMenuItem5.addActionListener(this);
submenu.add(subMenuItem5);
menuEdit.add(submenu);
// create Print menu
menuPrint.setMnemonic(KeyEvent.VK_P);
menuBar.add(menuPrint);
JMenuItem menuItemPrint = new JMenuItem("Send To Printer");
menuItemPrint.setAccelerator(KeyStroke.getKeyStroke('P', KeyEvent.CTRL_DOWN_MASK));
menuItemPrint.setActionCommand("print");
menuItemPrint.addActionListener(this);
menuPrint.add(menuItemPrint);
// create Help menu
menuHelp.setMnemonic(KeyEvent.VK_H);
menuBar.add(menuHelp);
JMenuItem menuItemHelp = new JMenuItem("About");
menuItemHelp.setAccelerator(KeyStroke.getKeyStroke('A', KeyEvent.CTRL_DOWN_MASK));
menuItemHelp.setActionCommand("about");
menuItemHelp.addActionListener(this);
JMenuItem menuItemVisitHomePage = new JMenuItem("Visit Home Page");
menuItemVisitHomePage.setAccelerator(KeyStroke.getKeyStroke('V', KeyEvent.CTRL_DOWN_MASK));
menuItemVisitHomePage.setActionCommand("visithomepage");
menuItemVisitHomePage.addActionListener(this);
menuHelp.add(menuItemHelp);
menuHelp.addSeparator();
menuHelp.add(menuItemVisitHomePage);
notePadArea = new JTextArea();
// set no word wrap
notePadArea.setWrapStyleWord(false);
// create scrollable pane
scrollPane = new JScrollPane(notePadArea, JScrollPane.VERTICAL_SCROLLBAR_ALWAYS , JScrollPane.HORIZONTAL_SCROLLBAR_NEVER);
this.add(scrollPane,BorderLayout.CENTER);
}
@Override
public void actionPerformed(ActionEvent e) {
if(e.getActionCommand().equals("exit")) {
System.exit(0);
}else if (e.getActionCommand().equals("open")) {
JFileChooser file = new JFileChooser();
String fileName = "";//initial filename was empty
// show open file dialog
if (file.showOpenDialog(this) == JFileChooser.APPROVE_OPTION) {
fileName = file.getSelectedFile().getAbsolutePath();
} else {
return;
}
try(BufferedReader bufferedReader = new BufferedReader(new FileReader(fileName));) {
// load file content into text area
StringBuffer stringBuffer = new StringBuffer();//creating a string buffer for reading data from file
String lines = "";//for reading the lines from the selecting file
while((lines = bufferedReader.readLine() ) != null) {//it'll read untill the file ends
stringBuffer.append(lines).append("\n");//for every line read insert new line in stringBuffer
}
bufferedReader.close();//after reading of file done, the bufferedReader will be close
notePadArea.setText(stringBuffer.toString());//converting the read text to string and inserting this text into textArea
} catch (Exception error1) {//if any exception occures
System.out.println(error1.toString());//convert the expection into string and print it
}
} else if (e.getActionCommand().equals("save")) {//if the user click the save command then the file will gonna saved
JFileChooser file = new JFileChooser();//creating the file
chooser
String fileName = "";//initial file name is empty
// show open file dialog
if (file.showSaveDialog(this) == JFileChooser.APPROVE_OPTION) {//if the user select file and clicks OK button
fileName = file.getSelectedFile().getAbsolutePath();
} else {//other wise will be closed
return;
}
try(BufferedWriter bufferedWriter = new BufferedWriter(new FileWriter(fileName));) {
// write editor's content to selected file.
bufferedWriter.write(notePadArea.getText());//get the text
entered in textarea
bufferedWriter.flush();//clear the writer
} catch(Exception ex1) {}
} else if (e.getActionCommand().equals("color")) {
Color select_color = JColorChooser.showDialog(this, "Select a
color", Color.RED);
notePadArea.setForeground(select_color);
} else if (e.getActionCommand().equals("times_new_roman"))
{
if(subMenuItem1.isSelected())
notePadArea.setFont(new Font("Times New Roman", Font.PLAIN,
20));
} else if (e.getActionCommand().equals("arial")) {
if(subMenuItem2.isSelected())
notePadArea.setFont(new Font("Arial", Font.PLAIN, 20));
} else if (e.getActionCommand().equals("serif")) {
if(subMenuItem3.isSelected())
notePadArea.setFont(new Font("Serif", Font.PLAIN, 20));
} else if (e.getActionCommand().equals("bold")) {
if(subMenuItem4.isSelected()){
if(subMenuItem5.isSelected()){
notePadArea.setFont(new Font("Serif", Font.BOLD+Font.ITALIC,
12));
}else{
notePadArea.setFont(new Font("Serif", Font.BOLD, 12));
}
}else{
if(!subMenuItem5.isSelected())
notePadArea.setFont(new Font("Serif", Font.PLAIN, 12));
}
} else if (e.getActionCommand().equals("italic")) {
if(subMenuItem5.isSelected()){
if(subMenuItem4.isSelected()){
notePadArea.setFont(new Font("Serif", Font.BOLD+Font.ITALIC,
12));
}else{
notePadArea.setFont(new Font("Serif", Font.ITALIC, 12));
}
}else{
if(!subMenuItem4.isSelected())
notePadArea.setFont(new Font("Serif", Font.PLAIN, 12));
}
} else if (e.getActionCommand().equals("print")) {
int output = JOptionPane.showConfirmDialog(this, "Do you want to
print the File","Confirmation", JOptionPane.YES_NO_OPTION);
if(output==0){
JOptionPane.showMessageDialog(this, "The file is successfully
printed","Confirmation", JOptionPane.INFORMATION_MESSAGE);
}
} else if (e.getActionCommand().equals("changecolor")){
System.out.println("Color clicked");
}
else if (e.getActionCommand().equals("about")) {
JOptionPane.showMessageDialog(this, "This software is developed in 2019\nVersion is 1.0","About", JOptionPane.INFORMATION_MESSAGE);
} else if (e.getActionCommand().equals("visithomepage")) {
openWebpage("http://www.microsoft.com");
}
}
private void openWebpage (String urlString) {
try {
Desktop.getDesktop().browse(new URL(urlString).toURI());
}
catch (Exception e) {
e.printStackTrace();
}
}
}
import javax.swing.JFrame;
public class MyMenuFrameTest {
public static void main(String[] args) {
MyMenuFrame frame = new MyMenuFrame();
frame.setTitle("MyNotepad");
//for the title of the box
frame.setSize(600, 400);
//for the size of the box
frame.setDefaultCloseOperation(JFrame.EXIT_ON_CLOSE);
frame.setVisible(true);
}
}
In: Computer Science
Step 4:
What percent of the variation in corn yield is explained by these two variables? Give your answers to 2 decimal places and do not include units in your answers.
Percent explained by the model = %
Step 5:
Using the regression equation, find a point estimate for the corn yield for 2014 Assume that the soy bean yield for that year is 42.
Point Estimate = (Give your answer to 1 decimal place.)
ID Year CornYield SoyBeanYield 1 1957 48.3 23.2 2 1958 52.8 24.2 3 1959 53.1 23.5 4 1960 54.7 23.5 5 1961 62.4 25.1 6 1962 64.7 24.2 7 1963 67.9 24.4 8 1964 62.9 22.8 9 1965 74.1 24.5 10 1966 73.1 25.4 11 1967 80.1 24.5 12 1968 79.5 26.7 13 1969 85.9 27.4 14 1970 72.4 26.7 15 1971 88.1 27.5 16 1972 97 27.8 17 1973 91.3 27.8 18 1974 71.9 23.7 19 1975 86.4 28.9 20 1976 88 26.1 21 1977 90.8 30.6 22 1978 101 29.4 23 1979 109.5 32.1 24 1980 91 26.5 25 1981 108.9 30.1 26 1982 113.2 31.5 27 1983 81.1 26.2 28 1984 106.7 28.1 29 1985 118 34.1 30 1986 119.4 33.3 31 1987 119.8 33.9 32 1988 84.6 27.0 33 1989 116.3 32.3 34 1990 118.5 34.1 35 1991 108.6 34.2 36 1992 131.5 37.6 37 1993 100.7 32.6 38 1994 138.6 41.4 39 1995 113.5 35.3 40 1996 127.1 37.6 41 1997 126.7 38.9 42 1998 134.4 38.9 43 1999 133.8 36.6 44 2000 136.9 38.1 45 2001 138.2 39.6 46 2002 129.3 38.0 47 2003 142.2 33.9 48 2004 160.3 42.2 49 2005 147.9 43.1 50 2006 149.1 42.9 51 2007 150.7 41.7 52 2008 153.9 39.7 53 2009 164.7 44.0 54 2010 152.8 43.5 55 2011 147.2 41.9 56 2012 123.4 39.8 57 2013 158.8 43.3
In: Statistics and Probability
Serial Case
This case is a continuation of the Caesars Entertainment Corporation serial case that began in Chapter 1. Refer to the introductory story in Chapter 1, here for additional background. (The components of the Caesars serial case can be completed in any order.)
Caesar Entertainment Corporation’s Form 10-K contains a variety of data in addition to financial statements. Below is a list that contains Caesars’ food and beverage costs (adapted) taken from its Statements of Operations for the past 22 years. In addition, the number of hotel rooms and suites owned by Caesars at the end of each of those 22 years has been gathered from other information provided in the Form 10-Ks.
|
Year ended |
Food and beverage costs |
# of hotel rooms & suites |
|
12/31/2014 |
$ 694,000,000 |
39,218 |
|
12/31/2013 |
$ 639,000,000 |
42,200 |
|
12/31/2012 |
$ 634,000,000 |
42,710 |
|
12/31/2011 |
$ 665,700,000 |
42,890 |
|
12/31/2010 |
$ 621,300,000 |
42,010 |
|
12/31/2009 |
$ 596,000,000 |
41,830 |
|
12/31/2008 |
$ 639,500,000 |
39,170 |
|
12/31/2007 |
$ 716,500,000 |
38,130 |
|
12/31/2006 |
$ 697,600,000 |
38,060 |
|
12/31/2005 |
$ 482,300,000 |
43,060 |
|
12/31/2004 |
$ 278,100,000 |
17,220 |
|
12/31/2003 |
$ 255,200,000 |
14,780 |
|
12/31/2002 |
$ 240,600,000 |
14,551 |
|
12/31/2001 |
$ 232,400,000 |
13,598 |
|
12/31/2000 |
$ 228,000,000 |
11,562 |
|
12/31/1999 |
$ 218,600,000 |
11,760 |
|
12/31/1998 |
$ 116,600,000 |
11,685 |
|
12/31/1997 |
$ 103,600,000 |
8,197 |
|
12/31/1996 |
$ 95,900,000 |
6,478 |
|
12/31/1995 |
$ 91,500,000 |
5,736 |
|
12/31/1994 |
$ 82,800,000 |
5,367 |
|
12/31/1993 |
$ 76,500,000 |
5,348 |
|
Caesars Entertainment Corporation Selected data from Form 10-K (adapted) |
||
Requirements (use excel)
In: Accounting
Electronics Source Agency Ltd. was a manufacturers’ sales representative that operated branch offices in most major population centers across Canada. In 1995, the corporation hired Felix as its senior Sale Manager for a large metropolitan city, an important sales area of the corporation. At the time of hiring, Felix had advised the President of the corporation that he had extensive sales experience in the sale of electronics, and the previous year had incorporated his own corporation with a view to establishing an electronics sales agency similar to the President’s company, but had decided not to proceed with the project. Felix and the President had no further discussion of Felix’s corporation, and proceeded to negotiate a written agreement that provided Felix with an annual salary of $150,000 year. The agreement was for indefinite hiring, but provided that either the employer or Felix could terminate the agreement on 6 month’s notice. Felix was very successful in his position as Sales Manager of the Metropolitan office for his first year on the job, but during the second year, he discovered that a large U.S. electronic manufacturer was seeking a manufacturer’s representative for its products in Canada. Based on this information, Felix decided to contact the U.S. manufacturer with a view to becoming the manufacturer’s representative in Canada, not for his employer, but for his own corporation that was presently dormant. Using his employer’s computer, he prepared an extensive Power Point presentation, incorporating a great deal of market information concerning the Metropolitan sales area as well as the Canadian market as a whole. The presentation required a significant amount of time, and Felix remained home from work for a week on the pretence of being ill with the flu while he completed the presentation. When his presentation was ready for presentation to the U.S. Manufacturer, he contacted the company, and a date two weeks hence was set for his presentation. A week before the presentation was to be made, the President of Electronics Source Agency Ltd. was made aware of the intentions of Felix. Rather than confront Felix immediately, the President decided to wait and see if Felix would inform him of his intentions, but Felix did not, and the day before Felix was to make his presentation to the U.S. Manufacturer, the President confronted Felix, and demanded an explanation. Felix admitted that it was his intention to make the presentation on behalf of his own company, and explained that he intended to resign if the presentation was successful. The President then advised Felix that he was dismissed, effective immediately. Felix proceeded with his presentation to the U.S. Manufacturer, but it was unsuccessful. Felix then took legal action against his employer, claiming wrongful dismissal. Discuss the arguments that may be raised by Felix and Electronics Source Agency Ltd. Render a decision.
In: Finance
| Year | C | Yd | wealth | interest |
| 1947 | 976.4 | 1035.2 | 5166.8 | -10.351 |
| 1948 | 998.1 | 1090.0 | 5280.8 | -4.720 |
| 1949 | 1025.3 | 1095.6 | 5607.4 | 1.044 |
| 1950 | 1090.9 | 1192.7 | 5759.5 | 0.407 |
| 1951 | 1107.1 | 1227.0 | 6086.1 | -5.283 |
| 1952 | 1142.4 | 1266.8 | 6243.9 | -0.277 |
| 1953 | 1197.2 | 1327.5 | 6355.6 | 0.561 |
| 1954 | 1221.9 | 1344.0 | 6797.0 | -0.138 |
| 1955 | 1310.4 | 1433.8 | 7172.2 | 0.262 |
| 1956 | 1348.8 | 1502.3 | 7375.2 | -0.736 |
| 1957 | 1381.8 | 1539.5 | 7315.3 | -0.261 |
| 1958 | 1393.0 | 1553.7 | 7870.0 | -0.575 |
| 1959 | 1470.7 | 1623.8 | 8188.1 | 2.296 |
| 1960 | 1510.8 | 1664.8 | 8351.8 | 1.511 |
| 1961 | 1541.2 | 1720.0 | 8971.9 | 1.296 |
| 1962 | 1617.3 | 1803.5 | 9091.5 | 1.396 |
| 1963 | 1684.0 | 1871.5 | 9436.1 | 2.058 |
| 1964 | 1784.8 | 2006.9 | 10003.4 | 2.027 |
| 1965 | 1897.6 | 2131.0 | 10562.8 | 2.112 |
| 1966 | 2006.1 | 2244.6 | 10522.0 | 2.020 |
| 1967 | 2066.2 | 2340.5 | 11312.1 | 1.213 |
| 1968 | 2184.2 | 2448.2 | 12145.4 | 1.055 |
| 1969 | 2264.8 | 2524.3 | 11672.3 | 1.732 |
| 1970 | 2317.5 | 2630.0 | 11650.0 | 1.166 |
| 1971 | 2405.2 | 2745.3 | 12312.9 | -0.712 |
| 1972 | 2550.5 | 2874.3 | 13499.9 | -0.156 |
| 1973 | 2675.9 | 3072.3 | 13081.0 | 1.414 |
| 1974 | 2653.7 | 3051.9 | 11868.8 | -1.043 |
| 1975 | 2710.9 | 3108.5 | 12634.4 | -3.534 |
| 1976 | 2868.9 | 3243.5 | 13456.8 | -0.657 |
| 1977 | 2992.1 | 3360.7 | 13786.3 | -1.190 |
| 1978 | 3124.7 | 3527.5 | 14450.5 | 0.113 |
| 1979 | 3203.2 | 3628.6 | 15340.0 | 1.704 |
| 1980 | 3193.0 | 3658.0 | 15965.0 | 2.298 |
| 1981 | 3236.0 | 3741.1 | 15965.0 | 4.704 |
| 1982 | 3275.5 | 3791.7 | 16312.5 | 4.449 |
| 1983 | 3454.3 | 3906.9 | 16944.8 | 4.691 |
| 1984 | 3640.6 | 4207.6 | 17526.7 | 5.848 |
| 1985 | 3820.9 | 4347.8 | 19068.3 | 4.331 |
| 1986 | 3981.2 | 4486.6 | 20530.0 | 3.768 |
| 1987 | 4113.4 | 4582.5 | 21235.7 | 2.819 |
| 1988 | 4279.5 | 4784.1 | 22332.0 | 3.287 |
| 1989 | 4393.7 | 4906.5 | 23659.8 | 4.318 |
| 1990 | 4474.5 | 5014.2 | 23105.1 | 3.595 |
| 1991 | 4466.6 | 5033.0 | 24050.2 | 1.803 |
| 1992 | 4594.5 | 5189.3 | 24418.2 | 1.007 |
| 1993 | 4748.9 | 5261.3 | 25092.3 | 0.625 |
| 1994 | 4928.1 | 5397.2 | 25218.6 | 2.206 |
| 1995 | 5075.6 | 5539.1 | 27439.7 | 3.333 |
| 1996 | 5237.5 | 5677.7 | 29448.2 | 3.083 |
| 1997 | 5423.9 | 5854.5 | 32664.1 | 3.120 |
| 1998 | 5683.7 | 6168.6 | 35587.0 | 3.584 |
| 1999 | 5968.4 | 6320.0 | 39591.3 | 3.245 |
| 2000 | 6257.8 | 6539.2 | 38167.7 | 3.576 |
a. please regress consumption on income and a constant term using formulas, write the calculations. (use word document)
b. Calculate the variance of the marginal propensity to consume (MPC)
c. Calculate R2 of the regression
In: Economics
Carter Cleaning Centers
Jennifer Carter graduated from State University in June 2005, and, after considering several job offers, decided to do what she always planned to do go into business with her father, Jack Carter. Jack Carter opened his first Laundromat in 1995 and his second in 1998. The main attraction of these coin laundry businesses for him was that they were capital- rather than labor-intensive. Thus, once the investment in machinery was made, the stores could be run with just one unskilled attendant and none of the labor problems one normally expects from being in the retail service business. The attractiveness of operating with virtually no skilled labor notwithstanding, Jack had decided by 1999 to expand the services in each of his stores to include the dry cleaning and pressing of clothes. He embarked, in other words, on a strategy of related diversification by adding new services that were related to and consistent with his existing coin laundry activities. He added these for several reasons. He wanted to better utilize the unused space in the rather large stores he currently had under the lease. Furthermore, he was, as he put it, tired of sending out the dry cleaning and pressing work that came in from our coin laundry clients to a dry cleaner 5 miles away, who then took most of what should have been our profits. To reflect the new, expanded line of services, he renamed each of his two stores Carter Cleaning Centers, and was sufficiently satisfied with their performance to open four more of the same type of stores over the next 5 years. Each store had its own on-site manager and, on average, about seven employees and annual revenues of about $500,000. It was this six-store chain that Jennifer joined after graduating. Her understanding with her father was that she would serve as a troubleshooter/consultant to the elder Carter with the aim of both learning the business and bringing to it modern management concepts and techniques for solving the business problems and facilitating its growth.
Questions:
1. In line with your course, define the significance of the case?
2. The case narrated that the owner was capital oriented rather than labor-intensive. As an HRM student, what do you think about the philosophy of the owner? Which suggestions you will recommend to utilize labour oriented philosophy in the organization?
3. What suggestions you will provide to Jennifer to link HRM policies and practices with the differentiation strategy of the organization? Justify your answer.
In: Finance
China has resurrected an exchange rate regime called Bretton Woods II, where these economies peg to the dollar. China pegged at Yuan8.28/$ from 1995 to 2005. (http://www.tradingeconomics.com/china/currency). On July 21, 2005, the People's Bank of China announced a revaluation of the Yuan (from Yuan8.28 to Yuan8.11 to the dollar) and a reform of the exchange rate regime. Under the reform., the People’s Bank of China linked its currency to a reference basket of currencies, heavily weighted toward the U.S. dollar. Over the next three years, under this crawling peg system, the yuan gradually appreciated against the dollar. With the advent of the global economic crisis, China reestablished the yuan's fixed peg to the dollar, at Yuan6.84/$ and maintained it for the next two years. China rolled out a new currency policy on June 20, 2010, that allowed the yuan to once again float upward, within limits, against the dollar; de facto, however, the Bretton Woods II regime remains intact and the currency pegged to the U.S. dollar. The Chinese central bank has managed this peg with widespread capital controls through quantitative limits on both inflows and outflows. The objectives of the controls have evolved over time, and include (i) facilitating monetary independence, (ii) helping channel external savings to desired uses; (iii) preventing firms and financial institutions from taking excessive external risks; (iv) maintaining balance of payments equilibrium and exchange rate stability; and (v) insulating the domestic economy from foreign financial crises.
Recently, the government has started to gradually liberalize capital flows and globally integrate China's capital markets in order to eventually establish Shanghai as a leading financial center. It remains unclear, however, whether China will yield more on monetary independence or exchange rate stability. Chinese authorities fear floating exchange rates, since they want to avoid a rapid and large appreciation of the yuan. This could have serious effects on employment and profits of multinationals in their export sector.
1. By how much did the yuan appreciate against the dollar on July 21,2005?
2. How has the yuan’s appreciation since July 21,2005 affected the U.S. trade deficit with China? Check the trade deficit with China over time at https://www.census.gov/foreign-trade/balance/c5700.html
3. How did the crawling-peg system in place from 2005 to 2008 likely affect inflows of hot money to China?
4. What is the likely reason for the Chinese government again fixing the yuan to the dollar upon the outbreak of the global economic crisis?
5. Why has China adopted capital controls?
In: Economics
Question 1
(Amounts are 14% VAT inclusive, where applicable. All calculations
are to be done to the nearest cent)
Required
Record the transactions in the correct subsidiary journals, post to
the general
ledger, debtors ledger and creditors ledger, and draw up a trial
balance.
On 1 January 2007, Pets Traders had the following
balances:
Stock R1 500 -Capital R2 287
Bank (favourable)R 1 200 - VAT control (Cr.) R900
Debtors: A. Adams R171
Debtors:B. Brown R855
Creditors: F.Farmell R1197
Creditors: P.Peters R342
Furniture R1 000
The following transactions took place during January
2007:
Cash sales - Cash Register
Date
Jan. 7- R228
Jan.14- R342
Jan. 21 -R456
Jan. 28 -R 570
Original credit invoices received:
Date
Jan. 4- P. Smith for goods R684
Jan 8. -Lotz for stationery 57
Jan10 -S. Pretorius for office desk R285
Jan 16 - F. Farmell for goods R2 052
Duplicate credit invoices issued:
Date
Jan. 11- A. Adams for goods R1 026
Jan 17 - B. Snell for goods R1 482
Duplicates of receipts issued:
Date
Jan. 4- No. 10 - B. Brown in settlement less 5%
discount
Jan.10 - No 11 -H. Owner for rent of the shop R570
Jan.18- No 12 - A. Debt for an account written off as bad debt
during
November 1995 R 228
Jan.25 -13 - S. Swart for old furniture sold R57
Credit notes received for goods returned:
Date
Jan. 8- P. Peter R114
Cheques issued:
Date
Jan. 2 -No. 40 - F. Farmell in settlement less 5%
discount
Jan.4- No 41 Cash for petty cash imprest R100
Jan 5- No42 - Makro for goods R570
Jan.10- No 43 -SABC for advertising R342
Jan. 15- No 44 - P. Peter for goods R2 280
Jan. 20- No 45- City council for electricityR 228
Jan.20 - No 46 -SARS (VAT) R900
Jan.25 -No 47 -P. Flat for rent of private house of the owner
R456
Sundry transactions:
Jan. 31 Items on the bank statement, but not in the cash
book:
(a) Service fees R50
(b) Interest on savings account R30
(c) Cheque from S. Swart unpaid (refer January 25)
Closing stock: Goods 4 500
In: Accounting
Manufacturers of aircraft engines have, like many other industrial manufacturers, tried to make engines that are more economical to operate while still providing the power needed to fly large-capacity aircraft. The Boeing 747, long considered the workhorse of the jumbo jet fleet, is powered by four engines, each capable of 44,700 lbs of thrust. Because 747’s have been around since 1969, maintenance costs now are relatively fixed; the goal for any airline is to plan for consistent, predictable maintenance costs.
The new era of more efficient planes include the Boeing 777, introduced in 1995, which has been used to replace many 747’s in airline company’s fleets. The 777’s engines feature aviation’s first-ever carbon-fiber composite fan blades, and each engine is capable of 84,000 lbs of thrust.
Not only are the newer engines capable of greater power, their efficiency also should provide lower maintenance cost variance. The following engine maintenance cost data (in $ millions) from a sample of the United Airlines fleet is provided on these two types of aircraft:
| Plane type: | 747 | 777 |
|
n |
101 | 32 |
|
̅x |
$15.8 | $7.5 |
|
s2 |
$7.29 | $2.25 |
|
s |
$2.70 | $1.50 |
Hint: keep your data truncated as presented; do not convert the data into $millions.
A. Construct a 95% confidence interval for the standard deviation of the 747's engine maintenance cost.
Provide your answers to 4 decimal places.
to
B. Construct a 95% confidence interval for the standard deviation of the 777's engine maintenance cost.
Provide your answers to 4 decimal places.
to
C. Hypothesis testing. United Airlines now wants to test if the maintenance cost variance of its newer 777 planes is less than the industry standard.
According to data collected by the National Air Transportation Association, the industry standard maintenance cost variance for the fleet of all domestic-based 777 planes is $2.30 (in $ millions).
What is the proper statement of the hypothesis test criteria?
|
D. Using the data from the sample, answer the fill-in-the-blank questions, and make the correct hypothesis test conclusion, at a level of significance α = .10.
| Reject Ho if the test statistic of | is |
|
the critical value of |
Based on these results, we should:
Reject Ho
Accept Ho
E. Given your decision to Accept or Reject the null hypothesis, what does the result of the hypothesis test tell us about the efficiency of United Airlines maintenance costs for it's 777 fleet compared to the industry average cost for all domestic airlines who also operate the 777?
In: Statistics and Probability