1. Using the Ben-Porath model discussed in class,

(a) What is the marginal benefit and marginal cost of investing in human capital production at a given t? How r,T, and t affect the marginal benefit? How b affects the marginal cost?(b) Explain how t∗(the time period when the agent is done with schooling) is determined using the marginal benefit and marginal cost in part a.(c) Illustrate in 3 diagrams how s (subt) (the share of human capital devoted to investment at period t) ,Kt (the human capital stock at the beginning of period t), and Et(earnings at period t) change over time. (Please indicates also t∗c (the time period when the agent is done with schooling) and T(Life Expectancy) )(d) Suppose the agent has bigger b(higher ability in producing new human capital), repeat the exercise in a. (Indicate the t∗i n part c as t∗c and t∗ in part d as t∗d for comparison)(e) Suppose the agent has bigger T(Longer life expectancy), repeat the exercise in a. (Indicate the t∗c and t∗e for comparison)(f) Compare part d and part e, what is the difference between the agents’ and schooling choices and earning? To what extent and improvement in health (in terms of longer life expectancy(T)) has the same effect as an improvement in learning ability (b)?

this is a labor market economics problem

Question 4. (40pts.) In a news item that appeared on the 31 January 2014 in the Guardian (an esteemed British newspaper) it is reported that in the Swiss mountain ski resort of Davos, Nestl ́e chairman Peter Brabeck addressed some criticisms pointed towards his alleged claims calling for the privatization of water:1

While Brabeck will have stoked the debate on climate change, he also sought to dampen the controversy last year in which he was accused by some NGOs of arguing for the privatisation of water and claiming is not a human right.

As a student seeking expertise in economics and having finished a serious general equilibrium course, evaluate this very question. (You could imagine that you are working in a newspaper and your editor gave that particular question for you to write about in the economics section.) Could privatization of drinkable water, hence markets, work for the human kind (even if access to drinkable water is not a “human right” as he allegedly claims)?2 Do not focus too much on whether or not this is a human rights issue, after all ours is not a law course. Evaluate whether or not his claims can be justified or trashed with the use of formal economics arguments that you have seen in this course.

I do not have to remind you that this is a serious question and I am expecting you to come up with solid arguments.

This assignment requires you to look at one interface for a product of your choice, identify what it was developed for, and then trace back its history (to the origin if possible) to look for similar solutions. This way you'll be clearer what the original problem is and how human through out history has managed it. You'll see that whole or part of the very early solutions seem to stay in most of the newer solutions, and you'll be able to identify and explain which solution are more effective than others; and you'll probably can predict how the next generation of solution would be.

For example, if you look at the phone today and some of the phones have been in the market in the last 50 years, You'll see there are some common functionality, interface, and user's interactions. If you keep tracing back, you'll know why telephone was invented and the reason why it works in a certain way. Ask yourself, what human had used to accomplish similar tasks the phone provides them before it was invented. You'll get the entire picture.

(a) What is the original problem/task/need that human had that led to the invention of the discussed technology? (b) What had human used / or handle their corresponding tasks before the invention of the technology you've addressed (c) Would the original problem/task/need changes or remains the same in the modern day?

1. Define the socialisation process and what the process entails.

2. State various interactive elements of human ecology and explain their roles in socialisation processes.

3. Examine the influence of chronosystem on the meaning of childhood and its impacts on the process of child development.

4. Specify the measures that reflect the well-being of children in general.

5. Describe the challenges adults have to face in socialising children in the modern world and identify the ways to solve them.

6. Define socialisation.

7. Explain how socialisation is a unique human process.

8. Explain the reciprocal and dynamic process of socialisation.

9. State the difference between intentional socialisation and unintentional socialisation.

10. Explain child development through the Bronfenbrenner biological model.

11. Identify the four constructs in Bronfenbrenner’s Ecological Theory of human development.

12. Explain the impacts of changes in human ecology on the process of socialisation.

13. Illustrate the changes in the definition of childhood from the Renaissance era up until the present day.

14. Describe how socialisation can help children adapt to changes in the modern era.

15. Define the chronosystem.

16. Describe how the change in chronosystem impacts the microsystem, mesosystem, exosystem and macrosystem.

17. Identify measures that reflect the welfare of children in general.

18. Identify and discuss current societal trends that influence the socialization process of children.

The title of the course is ARTIFICIAL INTELLIGENCE AND EXPERT SYSTEMS I. All answers should be based on that. Please do not copy and paste answers on chegg or on google for me. All answers should be based on your understanding on the course. Please try as much to answer the questions based on what is asked and not setting your own questions and answering them. Let it be if you want to copy and paste answers.

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9(A). AI is highly objective in decision making as it analyzes based on purely
gathered data. However, human’s decision may be influenced by
subjective elements which are not based on figures alone. You are hereby
requested to analyze (in ten points) the concept of ‘objectivity’ and
‘subjectivity’ in relation to data gathering in the statement given; for
Human Teller and Automated Teller machines (ATM).

(b)AI often produces accurate results as it functions based on a set of
programmed rules. As for human intelligence, there is usually a room for
“human errors” as certain details may be missed at one point or the other.
Justify in ten points how you can relate the statement to decision making
algorithms.

(c) The human brain uses about 25watts while modern computers only
generally use 2 watts in normal information processing. If this normality
becomes the other way instead, give in five points what could be the
reasons in each case of swap.

Gold-I-Locks plc manufactures and sells doors and windows that contain a revolutionary locking mechanism the CEO developed while at university. You have been provided with the company’s trial balance as at 31 March 2020. Unfortunately, it was prepared by a junior member of staff and does NOT balance.

Gold-I-Locks plc

Trial BalanceAs at 31 March 2020

The junior member of staff has identified the following errors but does not know how to correct them:

- A payment of £150 for electricity was entered in the Bank Account but was not recorded in the Electricity Expense Account

- There is a debit in the Rent Expense Account for £718 and a debit to the bank account for the same amount.

- A sale for £1,200 has been entered correctly in Accounts Receivable but as £120 in the Sales Account.

- A payment to a supplier of £457 has been correctly recorded in Accounts Payable Account but no other entry has been made.

Prepare journal entries to correct the above errors and prepare a T-account for the Suspense Account showing the entries.

XYZ stock price and dividend history are as follows: Year Beginning-of-Year Price Dividend Paid at Year-End 2010 $ 140 $ 4 2011 $ 159 $ 4 2012 $ 132 $ 4 2013 $ 137 $ 4 An investor buys five shares of XYZ at the beginning of 2010, buys another three shares at the beginning of 2011, sells one share at the beginning of 2012, and sells all seven remaining shares at the beginning of 2013. a. What are the arithmetic and geometric average time-weighted rates of return for the investor? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Arithmetic mean 2.93 % Geometric mean 2.08 % b-1. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2010, to January 1, 2013. (Negative amounts should be indicated by a minus sign.) Date Cash Flow 1/1/2010 $ -700 1/1/2011 -457 1/1/2012 164 1/1/2013 987 b-2. What is the dollar-weighted rate of return? (Hint: If your calculator cannot calculate internal rate of return, you will have to use a spreadsheet or trial and error.) (Negative value should be indicated by a minus sign. Round your answer to 4 decimal places.) Rate of return %

A standardized exam consists of three parts: math, writing, and critical reading. Sample data showing the math and writing scores for a sample of 12 students who took the exam follow.

(a)Use a 0.05 level of significance and test for a difference between the population mean for the math scores and the population mean for the writing scores. (Use math score − writing score.)

Formulate the hypotheses.

H₀: μ_d = 0

H_a: μ_d ≠ 0

H₀: μ_d > 0

H_a: μ_d ≤ 0

H₀: μ_d ≤ 0

H_a: μ_d = 0

H₀: μ_d ≠ 0

H_a: μ_d = 0

H₀: μ_d ≤ 0

H_a: μ_d > 0

Calculate the test statistic. (Round your answer to three decimal places.)

Calculate the p-value. (Round your answer to four decimal places.)

p-value =

(b)What is the point estimate of the difference between the mean scores for the two tests? (Use math score − writing score.)

What are the estimates of the population mean scores for the two tests?

Math

Writing

Imperial Jewelers manufactures and sells a gold bracelet for $404.00. The company’s accounting system says that the unit product cost for this bracelet is $261.00 as shown below: Direct materials $ 142 Direct labor 88 Manufacturing overhead 31 Unit product cost $ 261 The members of a wedding party have approached Imperial Jewelers about buying 23 of these gold bracelets for the discounted price of $364.00 each. The members of the wedding party would like special filigree applied to the bracelets that would require Imperial Jewelers to buy a special tool for $457 and that would increase the direct materials cost per bracelet by $6. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $7.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party’s order using its existing manufacturing capacity. Required: 1. What is the financial advantage (disadvantage) of accepting the special order from the wedding party? 2. Should the company accept the special order?

(1) Using the informatin above, Carry out a “t-test: Two-Sample Assuming Unequal Variances” in Excel (with ? = 0.05) that tests whether there is a difference in mean maintenance costs between buses with Diesel engines and those with gasoline engines. Show all the steps.

(2) Based on the t-test, what is your decision (“reject” or “do not reject”) regarding the null hypothesis that the two population means are equal to each other? Indicate on which part of the Excel output you base your decision.

(3) Explain what the decision in part (b), i.e., “rejecting H₀” or “not rejecting H₀” means in this context at a level that can be understood by a high school senior.