Explain what Net Operating Income is and what is meant by Net Operating Loss. What factors arre associated when calculating the Net Operating Income percentage for a hotel? Why is this measure a good way of evaluating the hotel performance?

Park is always willing to give up 5 tangerines for 1 orange. The price of one orange is $1 and the price of one tangerine is $0.25. Park's spending budget for orange and tangerine is $10.

(1) Park is currently consuming 16 tangerines and 6 oranges. Give a suggestion about the direction of substitution for Park to improve his satisfaction.  Justify your suggestion using the economic meaning of the marginal rate of substitution and the market rate of substitution.

(2) To maximize his satisfaction, how many oranges and tangerines should Park purchase with $10 budget?  

(3) Give a graph in which the optimal consumption point shown. Include both the budget line and an indifference curve related to the optimal consumption. Clearly label the axes and mark the coordinates of the optimal consumption point.  

You are an intern at the health department of your city. An outbreak of coronavirus has been detected in a hotel in your city. 10 guests are infected. You must decide whether to quarantine the hotel or not. There are 1000 guests in the hotel. From previous experience, we know that at least half of them will be infected if the quarantine goes in to effect. If there is no quarantine the virus will spread more rapidly to the general population in the city. What would you do? Your city has 8 million population. The death rate of this virus is 2%, the cost of lock down of hotel is AED 1M per day. The length of the quarantine is 2 months. What would you do? Use the five step ethical decision making approach to resolve this case and indicate which approach you will be taken.

Park Co. is considering an investment that requires immediate payment of $21,555 and provides expected cash inflows of $6,800 annually for four years. Park Co. requires a 8% return on its investments.

1-a. What is the net present value of this investment? (PV of $1, FV of $1, PVA of $1, and FVA of $1)

1-b. Based on NPV alone, should Park Co. invest?

1-c. What is the internal rate of return? (PV of $1, FV of $1, PVA of $1, and FVA of $1)

1-d. Based on its internal rate of return, should Park Co. make the investment?

The Manager at Rainbow Valley II advertises that the typical family visiting the park spends at least one hour in the park during weekends. A sample of 25 visitors during the weekends in the month of July revealed that the mean time spent in the Park was 63 minutes with a standard deviation of 8 minutes.

1. Using the 0.01 significance level and a one-tailed test, is it reasonable to conclude that the mean time in the Park is greater than 60 minutes? Show all steps in your test of hypothesis.

2. Repeat the analysis at the 0.05 significance level. (You may show only the calculations that change).

3. Repeat with a survey mean of 64 minutes at the .01 significance level. (You may show only the calculations that change).

4. What do you conclude from your analysis?

Hotel Occupancy

C++ Only

Program Description

Write a program that calculates the occupancy rate for a hotel. The program should read its data from a file named "hotel.dat". The first line of this file will be a single integer specifying the number of floors in the hotel. Each of the remaining (N) lines will have two integers; the number of rooms on that floor and the number of occupied rooms on that floor.

Your program should display the following:

• How many rooms the hotel has,
• How many rooms are occupied,
• How many are unoccupied, and
• The percentage of rooms that are occupied.

Notes

1. Your program should be named hotel.cc.
2. You can build this program initially to read from the keyboard, get that working, and then modify the program to read from the file.
3. You will need to create the "hotel.dat" data file.

(a) Calculate the five-number summary of the land areas of the states in the U.S. Midwest. (If necessary, round your answer to the nearest whole number.)

(b) Explain what the five-number summary in part (a) tells us about the land areas of the states in the midwest.

(c) Calculate the five-number summary of the land areas of the states in the U.S. Northeast. (If necessary, round your answer to the nearest whole number.)

(d) Explain what the five-number summary in part (c) tells us about the land areas of the states in the Northeast.

(d) Contrast the results from parts (b) and (d).

Mermaid Beach Hotel Ltd (Mermaid Hotel) operates a seaside hotel on the Sunshine Coast, providing
accommodation, bar and restaurant facilities for tourists. Casual and part-time wages are a major
expense item, particularly during summer, when up to an additional 30 staff members are employed.
In order to keep track of casual and part-time wages, Mermaid Hotel’s operations manager prepares
a weekly roster (using Excel) showing:


• employee name
• employment position (e.g. bar staff)
• days and hours rostered for the week
• hourly rate
• any additional amounts to be paid (e.g. meal allowances).


Each employee’s immediate supervisor is required to sign a hard copy of the Excel roster spreadsheet
on a daily basis as evidence that the hours were worked as rostered. Any discrepancies (e.g. additional
hours) are recorded on a separate payroll adjustment form (PAF) and co-signed by the employee. The
Excel roster spreadsheet plus any PAFs are forwarded to the payroll officer at the end of the week and
used as the basis for that week’s casual and part-time employee payroll. Last year, you still placed
reliance on controls over casual and part-time wages, despite finding some breakdowns in controls,
as you were able to obtain sufficient appropriate audit evidence that the controls were operating
effectively. Assume that you have decided it is appropriate to test internal controls over the relevant
payroll transactions.


Required:

Briefly outline how the information provided above would affect the nature, timing and extent of tests of controls.

Glitz hotel, a 500-room hotel, rents hotel rooms for $120/night. At the current sales level of 400 rooms per night, Glitz currently makes a profit of $30/room:

                                        Per room

Sales                                 $120

Costs                                     90

Profit                                    30

It costs Glitz $90/night to maintain a room ($60 in depreciation, $25 in variable maintenance and $5 in fixed booking costs). Glitz has been approached by Conventions2000.com to purchase a block of 300 rooms for $80/room per night. If this special order is accepted, Conventions2000.com would take care of all booking costs for the rooms booked through Conventions2000.com.

Required:

1. Which are the relevant costs?
2. What is the net change in net income if Glitz accepts the special offer from Conventions2000.com?
3. What other issues should Glitz consider before accepting this special offer?