the first category known as the "Great Man" phase, focused on the traits that make an effective leader. this period range from circa 450 B.C. to the 1940s, and includes classic examples such as the aforementioned Egyptian period and the expansive influence of the Roman Empire.
need your help
In: Operations Management
1- Assume that visitors of a hotel on average pay $20 for
minibar per night per room, with a standard deviation of $3. Assume
further that minibar expenses are normally distributed.
a- What percentage of rooms are expected to pay more than $25 per
night, i.e. P(x > 25)
b- What percentage of rooms are expected to pay more than $40 per
night, i.e. P( x > 40)?
c- What percentage of rooms are expected to pay less than $12 per
night, i.e. P( x < 12)?
d- What percentage of rooms are expected to pay between $18 and
$24, i.e. P(18 < x < 24)?
e- What percentage of rooms are expected to pay between $16 and
$19, i.e. P (16 < x < 19)?
In: Statistics and Probability
Magical Elves Theater
Magical Elves Theater is located in the Brooklyn Mall. A cashier’s booth is located near the entrance to the theater. Three cashiers are employed. One works from 1–5 p.m., another from 5–9 p.m. The shifts are rotated among the three cashiers. The cashiers receive cash from customers and operate a machine that ejects serially numbered tickets. The rolls of tickets are inserted and locked into the machine by the theater manager at the beginning of each cashier’s shift.
After purchasing a ticket, the customer takes the ticket to an usher stationed at the entrance of the theater lobby some 60 feet from the cashier’s booth. The usher tears the ticket in half, admits the customer, and returns the ticket stub to the customer. The other half of the ticket is dropped into a locked box by the usher.
At the end of each cashier’s shift, the theater manager removes the ticket rolls from the machine and makes a cash count. The cash count sheet is initialed by the cashier. At the end of the day, the manager deposits the receipts in total in a bank night deposit vault located in the mall. The manager also sends copies of the deposit slip and the initialed cash count sheets to the theater company treasurer for verification and to the company’s accounting department. Receipts from the first shift are stored in a safe located in the manager’s office.
Required:
Hasagama Middle School
Hasagama Middle School wants to raise money for a new sound system for its auditorium. The primary fund-raising event is a dance at which the famous disc jockey D.J. Rivet will play classic and not-so-classic dance tunes. Will Schuester, the music and theater instructor, has been given the responsibility for coordinating the fund-raising efforts. This is Will’s first experience with fund-raising. He decides to put the eighth-grade choir in charge of the event; he will be a relatively passive observer.
Will had 500 unnumbered tickets printed for the dance. He left the tickets in a box on his desk and told the choir students to take as many tickets as they thought they could sell for $5 each. In order to ensure that no extra tickets would be floating around, he told them to dispose of any unsold tickets. When the students received payment for the tickets, they were to bring the cash back to Will and he would put it in a locked box in his desk drawer. Some of the students were responsible for decorating the gymnasium for the dance. Will gave each of them a key to the money box and told them that if they took money out to purchase materials, they should put a note in the box saying how much they took and what it was used for. After 2 weeks the money box appeared to be getting full, so Will asked Luke Gilmor to count the money, prepare a deposit slip, and deposit the money in a bank account Will had opened.
The day of the dance, Will wrote a check from the account to pay the DJ. D.J. Rivet, however, said that he accepted only cash and did not give receipts. So Will took $200 out of the cash box and gave it to D.J. At the dance Will had Mel Harris working at the entrance to the gymnasium, collecting tickets from students, and selling tickets to those who had not prepurchased them. Will estimated that 400 students attended the dance.
The following day Will closed out the bank account, which had $250 in it, and gave that amount plus the $180 in the cash box to Principal Foran. Principal Foran seemed surprised that, after generating roughly $2,000 in sales, the dance netted only $430 in cash. Will did not know how to respond.
Required: Identify as many cash control weaknesses/ improper handling of cash as you can in this scenario, and suggest how each can be addressed.
In: Accounting
A survey found that women's heights are normally distributed with mean 63.1 in. and standard deviation 2.3 in. The survey also found that men's heights are normally distributed with mean 69.6 in. and standard deviation 3.4 in. Most of the live characters employed at an amusement park have height requirements of a minimum of 57 in. and a maximum of 62 in. Complete parts (a) and (b) below.
a. Find the percentage of men meeting the height requirement. What does the result suggest about the genders of the people who are employed as characters at the amusement park?
b. If the height requirements are changed to exclude only the tallest 50% of men and the shortest 5% of men, what are the new height requirements? The new height requirements are a minimum of ? in. and a maximum of ? in.
In: Statistics and Probability
9. Application: Elasticity and hotel rooms
The following graph input tool shows the dally demand for hotel rooms at the Triple Sevens Hotel and Casino in Las Vegas, Nevada. To help the hotel management better understand the market, an economist Identified three primary factors that affect the demand for rooms each night. These demand factors, along with the values corresponding to the initial demand curve, are shown in the following table and alongside the graph input tool.
Demand Factor Initial Value
Average American household income $50,000 per year
Roundtrip airfare from New York (JFK) to Las Vegas (LAS) $200 per roundtrip
Room rate at the Exhilaration Hotel and Casino, which is near the Triple Sevens $250 per night
Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.
Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.

For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Triple Sevens is charging $300 per
room per night.
If average household income increases by 20%, from $50,000 to $60,000 per year, the quantity of rooms demanded at the Triple Sevens _______ from _______ rooms per night to _______ rooms per night. Therefore, the income elasticity of demand is _______ ,meaning that hotel rooms at the Triple Sevens are _______
If the price of an airline ticket from JFK to LAS were to increase by 10%, from $200 to $220 roundtrip, while all other demand factors remain at their Initial values, the quantity of rooms demanded at the Triple Sevens _______ from _______ rooms per night to_______ rooms per night. Because the cross-price elasticity of demand is _______, hotel rooms at the Triple Sevens and airline trips between JFK and LAS are _______ .
Triple Sevens is debating decreasing the price of its rooms to $275 per night. Under the initial demand conditions, you can see that this would cause its total revenue to _______. Decreasing the price will always have this effect on revenue when Triple Sevens is operating on the _______ portion of its demand curve.
In: Economics
4. Assume you own and operate a hotel near a busy international airport. Your property caters directly to business travelers. Assume also that your historical records indicate a complete room’s sellout every Tuesday and Wednesday night for the past six months. Your hotel’s director of sales (DOS) informs you that she forecasts Tuesday and Wednesday night sellouts for the coming six months as well. What does that information tell you about business traveler’s willingness to purchase rooms on those specific nights? Would you encounter an ethical dilemma instituting a differential pricing strategy that valued the rooms you have available for sale on Tuesday and Wednesday nights higher than those rooms you sell on other nights? Explain your position
In: Finance
The Gold Bay Hotel is in the process of developing a master budget and Pro-forma financial statements. The beginning balance sheet for the current fiscal year is estimated to be
Gold bay Hotel Estimated Balance sheet current year
| Cash | $ 20,000 | Accounts payable | $ 20,000 | |
| Accounts Recievable | 30,000 | Notes payable | 500,000 | |
| Facilities | 3,010,000 | Capital stock | 100,000 | |
| Accumulated Dep | (1,100,000) | Retained Earnings | 1,340,000 | |
| Total assets | $ 1,960,000 | Total Equities | $1,950,000 |
During the year the hotel expects to rent 30,000 rooms. Rooms rent for an average of $ 90 per night. The hotel expects to sell 40,000 meals during the year at an average price of $ 20 per meal. the variable cost per room rented is $ 30 and the variable cost per meal is $8. The fixed costs not including depreciation is expected to be $ 2,000,000. Depreciation is expected to be $ 500,000. The hotel also expects to refurbish the kitchen at a cost $ 200,000. Which is capitalized ( included in the facility account). Interest of the note payable is expected to be $ 50,000 and $ 100,000 of the note payable will be retired during the year. The ending accounts receivable amount is expected to be $ 40,000 and the ending account payable is expected to be $ 30,000.
Required
Prepare Pro-forma financial statement for the end of the current year.
In: Accounting
Determine whether each of the following is true or false:
In the short run, insurance on your property is a fixed cost.
In the short run, the heating of your warehouse is a fixed cost.
In the long run, there are more fixed costs than in the short run.
Assume that you run a concession stand at a small movie theater selling popcorn. Each day you must pay the theater management $50, so this is your fixed cost. If you are able to sell 100 boxes of popcorn each day, the variable cost per box is $0.15. Use these figures to determine average fixed cost, average variable cost, and average total cost.
Based on the following table, where do diminishing marginal returns begin to set in? Explain.
| Machines | Daily Output |
| 1 | 300 |
| 2 | 700 |
| 3 | 1,000 |
| 4 | 1,200 |
| 5 | 1,300 |
| 6 | 1,300 |
5. If fixed costs are $100 and variable costs are $200 at an output level of 30 units, what are average fixed costs, average variable costs, and average total costs?
In: Economics
A small hotel has 50 rooms that rent for $105 per night and cost $45 to clean and prepare each night they are used. All rentals are by reservation and there is a 10% chance that an individual reservation will not show up. If a customer arrives at the hotel with a reservation and no room is available due to overbooking, the hotel will refund the cost of the room and pay $150 to put the customer up at another hotel. The hotel’s current policy is to stop accepting reservations reaches the overbooking limit of 56 reservations.
a. Develop a simulation model to evaluate the hotel’s total profit and number of customers turned away when it receives the maximum number of reservations under the current policy.
b. Describe your estimate of the distribution of total profit?
c. What is your estimate of the mean total profit?
d. What is your estimate of the mean number of customers turned away?
Please Solve in Excel
In: Operations Management
10. A researcher claims that the mean rate of individuals below poverty in the City of Chicago is below 17 %. Based on the data represented for the years 2005 – 2011, perform a hypothesis test to test his claim using a significance level of α = 0.10.
11. Would your conclusion change for question 10 if you used a significance level of α = 0.05? Explain.
12. A survey conducted at Chicago Public Schools (CPS) involving high school students on whether they had participated in binged drinking during the past month. Binge drinking was defined as 5 or more drinks in a row on one or more of the past 30 days.
|
Number who identified as having participated in Binge Drinking. |
72 |
|
Total participants |
567 |
a. From the sample data is there evidence that the proportion of students who participate in binge drinking is greater than 10%? Write a null and alternative hypothesis and perform an appropriate significance test using α=0.05.
b. Construct a 90% Confidence Interval for the population proportion. Does it support the same conclusion as in 12a? Explain.
| Community Area | Community Area Name | Below Poverty Level | Crowded Housing | Dependency | No High School Diploma | Per Capita Income | Unemployment |
| 1 | Rogers Park | 22.7 | 7.9 | 28.8 | 18.1 | 23714 | 7.5 |
| 2 | West Ridge | 15.1 | 7 | 38.3 | 19.6 | 21375 | 7.9 |
| 3 | Uptown | 22.7 | 4.6 | 22.2 | 13.6 | 32355 | 7.7 |
| 4 | Lincoln Square | 9.5 | 3.1 | 25.6 | 12.5 | 35503 | 6.8 |
| 5 | North Center | 7.1 | 0.2 | 25.5 | 5.4 | 51615 | 4.5 |
| 6 | Lake View | 10.5 | 1.2 | 16.5 | 2.9 | 58227 | 4.7 |
| 7 | Lincoln Park | 11.8 | 0.6 | 20.4 | 4.3 | 71403 | 4.5 |
| 8 | Near North Side | 13.4 | 2 | 23.3 | 3.4 | 87163 | 5.2 |
| 9 | Edison Park | 5.1 | 0.6 | 36.6 | 8.5 | 38337 | 7.4 |
| 10 | Norwood Park | 5.9 | 2.3 | 40.6 | 13.5 | 31659 | 7.3 |
| 11 | Jefferson Park | 6.4 | 1.9 | 34.4 | 13.5 | 27280 | 9 |
| 12 | Forest Glen | 6.1 | 1.3 | 40.6 | 6.3 | 41509 | 5.5 |
| 13 | North Park | 12.4 | 3.8 | 39.7 | 18.2 | 24941 | 7.5 |
| 14 | Albany Park | 17.1 | 11.2 | 32.1 | 34.9 | 20355 | 9 |
| 15 | Portage Park | 12.3 | 4.4 | 34.6 | 18.7 | 23617 | 10.6 |
| 16 | Irving Park | 10.8 | 5.6 | 31.6 | 22 | 26713 | 10.3 |
| 17 | Dunning | 8.3 | 4.8 | 34.9 | 18 | 26347 | 8.6 |
| 18 | Montclaire | 12.8 | 5.8 | 35 | 28.4 | 21257 | 10.8 |
| 19 | Belmont Cragin | 18.6 | 10 | 36.9 | 37 | 15246 | 11.5 |
| 20 | Hermosa | 19.1 | 8.4 | 36.3 | 41.9 | 15411 | 12.9 |
| 21 | Avondale | 14.6 | 5.8 | 30.4 | 25.7 | 20489 | 9.3 |
| 22 | Logan Square | 17.2 | 3.2 | 26.7 | 18.5 | 29026 | 7.5 |
| 23 | Humboldt Park | 32.6 | 11.2 | 38.3 | 36.8 | 13391 | 12.3 |
| 24 | West Town | 15.7 | 2 | 22.9 | 13.4 | 39596 | 6 |
| 25 | Austin | 27 | 5.7 | 39 | 25 | 15920 | 21 |
| 26 | West Garfield Park | 40.3 | 8.9 | 42.5 | 26.2 | 10951 | 25.2 |
| 27 | East Garfield Park | 39.7 | 7.5 | 43.2 | 26.2 | 13596 | 16.4 |
| 28 | Near West Side | 21.6 | 3.8 | 22.9 | 11.2 | 41488 | 10.7 |
| 29 | North Lawndale | 38.6 | 7.2 | 40.9 | 30.4 | 12548 | 18.5 |
| 30 | South Lawndale | 28.1 | 17.6 | 33.1 | 58.7 | 10697 | 11.5 |
| 31 | Lower West Side | 27.2 | 10.4 | 35.2 | 44.3 | 15467 | 13 |
| 32 | Loop | 11.1 | 2 | 15.5 | 3.4 | 67699 | 4.2 |
| 33 | Near South Side | 11.1 | 1.4 | 21 | 7.1 | 60593 | 5.7 |
| 34 | Armour Square | 35.8 | 5.9 | 37.9 | 37.5 | 16942 | 11.6 |
| 35 | Douglas | 26.1 | 1.6 | 31 | 16.9 | 23098 | 16.7 |
| 36 | Oakland | 38.1 | 3.5 | 40.5 | 17.6 | 19312 | 26.6 |
| 37 | Fuller Park | 55.5 | 4.5 | 38.2 | 33.7 | 9016 | 40 |
| 38 | Grand Boulevard | 28.3 | 2.7 | 41.7 | 19.4 | 22056 | 20.6 |
| 39 | Kenwood | 23.1 | 2.3 | 34.2 | 10.8 | 37519 | 11 |
| 40 | Washington Park | 39.1 | 4.9 | 40.9 | 28.3 | 13087 | 23.2 |
| 41 | Hyde Park | 18.2 | 2.5 | 26.7 | 5.3 | 39243 | 6.9 |
| 42 | Woodlawn | 28.3 | 1.8 | 37.6 | 17.9 | 18928 | 17.3 |
| 43 | South Shore | 31.5 | 2.9 | 37.6 | 14.9 | 18366 | 17.7 |
| 44 | Chatham | 25.3 | 2.2 | 40 | 13.7 | 20320 | 19 |
| 45 | Avalon Park | 16.7 | 0.6 | 41.9 | 13.3 | 23495 | 16.6 |
| 46 | South Chicago | 28 | 5.9 | 43.1 | 28.2 | 15393 | 17.7 |
| 47 | Burnside | 22.5 | 5.5 | 40.4 | 18.6 | 13756 | 23.4 |
| 48 | Calumet Heights | 12 | 1.8 | 42.3 | 11.2 | 28977 | 17.2 |
| 49 | Roseland | 19.5 | 3.1 | 40.9 | 17.4 | 17974 | 17.8 |
| 50 | Pullman | 20.1 | 1.4 | 42 | 15.6 | 19007 | 21 |
| 51 | South Deering | 24.5 | 6 | 41.4 | 21.9 | 15506 | 11.8 |
| 52 | East Side | 18.7 | 8.3 | 42.5 | 35.5 | 15347 | 14.5 |
| 53 | West Pullman | 24.3 | 3.3 | 42.2 | 22.6 | 16228 | 17 |
| 54 | Riverdale | 61.4 | 5.1 | 50.2 | 24.6 | 8535 | 26.4 |
| 55 | Hegewisch | 12.1 | 4.4 | 41.6 | 17.9 | 22561 | 9.6 |
| 56 | Garfield Ridge | 9 | 2.6 | 39.5 | 19.4 | 24684 | 8.1 |
| 57 | Archer Heights | 13 | 8.5 | 40.5 | 36.4 | 16145 | 14.2 |
| 58 | Brighton Park | 23 | 13.2 | 39.8 | 48.2 | 13138 | 11.2 |
| 59 | McKinley Park | 16.1 | 6.9 | 33.7 | 31.8 | 17577 | 11.9 |
| 60 | Bridgeport | 17.3 | 4.8 | 32.3 | 25.6 | 24969 | 11.2 |
| 61 | New City | 30.6 | 12.2 | 42 | 42.4 | 12524 | 17.4 |
| 62 | West Elsdon | 9.8 | 8.7 | 38.7 | 39.6 | 16938 | 13.5 |
| 63 | Gage Park | 20.8 | 17.4 | 40.4 | 54.1 | 12014 | 14 |
| 64 | Clearing | 5.9 | 3.4 | 36.4 | 18.5 | 23920 | 9.6 |
| 65 | West Lawn | 15.3 | 6.8 | 41.9 | 33.4 | 15898 | 7.8 |
| 66 | Chicago Lawn | 22.2 | 6.5 | 40 | 31.6 | 14405 | 11.9 |
| 67 | West Englewood | 32.3 | 6.9 | 40.9 | 30.3 | 10559 | 34.7 |
| 68 | Englewood | 42.2 | 4.8 | 43.4 | 29.4 | 11993 | 21.3 |
| 69 | Greater Grand Crossing | 25.6 | 4.2 | 42.9 | 17.9 | 17213 | 18.9 |
| 70 | Ashburn | 9.5 | 4.2 | 36.7 | 18.3 | 22078 | 8.8 |
| 71 | Auburn Gresham | 24.5 | 4.1 | 42.1 | 19.5 | 16022 | 24.2 |
| 72 | Beverly | 5.2 | 0.7 | 38.7 | 5.1 | 40107 | 7.8 |
| 73 | Washington Heights | 15.7 | 1.1 | 42.4 | 15.6 | 19709 | 18.3 |
| 74 | Mount Greenwood | 3.1 | 1.1 | 37 | 4.5 | 34221 | 6.9 |
| 75 | Morgan Park | 13.7 | 0.8 | 39.4 | 10.9 | 26185 | 14.9 |
| 76 | O'Hare | 9.5 | 1.9 | 26.5 | 11 | 29402 | 4.7 |
| 77 | Edgewater | 16.6 | 3.9 | 23.4 | 9 | 33364 | 9 |
In: Statistics and Probability