Questions
the first category known as the "Great Man" phase, focused on the traits that make an...

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...

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...

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:

  1. Identify the measures in place to make sure that the cash receipt transactions are properly accounted for.
  2. If the usher and cashier decide to collaborate to misappropriate/steal cash, what actions might they take?

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...

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

The following graph input tool shows the dally demand for hotel rooms at the Triple Sevens Hotel and Casino in Las Vegas, Nevada.

 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.

image.png

 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...

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...

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...

  1. Determine whether each of the following is true or false:

    1. In the short run, insurance on your property is a fixed cost.

    2. In the short run, the heating of your warehouse is a fixed cost.

    3. In the long run, there are more fixed costs than in the short run.

  1. 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.

  2. Based on the following table, where do diminishing marginal returns begin to set in? Explain.

    1. MachinesDaily Output
      1300
      2700
      31,000
      41,200
      51,300
      61,300

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...

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...

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