1. For each of the following, define the random variable using words, tell what kind of distribution each has, and calculate the probabilities. Every day when Sally drives to school, she has a 70% chance of not finding a parking spot in the closest lot to her classroom (otherwise, she finds a spot). Each day is independent, meaning that finding a spot on one day doesn’t change the probability of finding a spot on any other day.

(a) (3 points) What is the probability that the tenth day is the fifth day that she gets a spot in the closest lot?

(b) (3 points) What is the probability that the tenth day is the first day that she gets a spot in the closest lot?

(c) (3 points) What is the probability that the she gets to park in the closest lot in 5 out of the next 10 days?

(d) (3 points) If she parks in the close lot at least 3 times in a week (5 days), she will treat herself to ice cream. What is the probability that she gets ice cream?

Coffee is a leading export from several developing countries. When coffee prices are high, farmers often clear forest to plant more coffee trees. Here are data on prices paid to coffee growers in Indonesia and the rate of deforestation in a national park that lies in a coffee-producing region for five years: Price(cents per pound) Deforestation (percent) 29 0.49 40 1.59 54 1.69 55 1.82 72 3.10 (a) Make a scatterplot. What is the explanatory variable? What kind of pattern does your plot show? (b) Find the correlation r step-by-step. That is, find the mean and standard deviation of the two variables. Then find the five standardized values for each variable and use the formula for r.

Explain how your value for r matches your graph in (a). (c) Now enter these data into your calculator or Excel and use the correlation function to find r. Check that you get the same result as in (b). PLEASE, GIVE A DETAILED SOLUTION. THANK YOU IN ADVANCE!

Suppose that the current market price of VCRs is $300, that the average consumer disposable income is $30,000, and that the price of DVDs (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year. Statistical studies have shown that for VCRs the own-price elasticity of demand is –1.3. The income elasticity of demand for VCRs is 1.7. The cross-price elasticity of demand for VCRs with respect to DVDs is 0.8.

Use this information to predict the annual number of VCRs sold under the following conditions:

(a) Increasing competition from Asia causes VCR prices to fall to $270 with income and the price of

       DVDs is unchanged.

(b) Income tax reductions raise average disposable personal income to $31,500 with prices unchanged.

      (Do not use $31.5 for $31,5000!)

(c) An inventor in Menlo Park invents a cheaper way to produce DVDs, reducing the price of a DVD to

      $400, with the price of VCRs and income unchanged.

(d) All of the events described in parts (a)-(c) occur simultaneously.

Recently, the power of cloning to rescue endangered or extinct species was demonstrated by applying nuclear transfer methods to save the mouflon, a species of wild sheep (left half of figure). This result piqued a fair amount of general interest, because of its possible implications for the return of other, more exotic, species from the jaws of extinction (as pictured on the right). Suppose a wealthy investor came to you with a proposal to create a real-life Jurassic Park (naturally, with far more detailed strategy to contain the animals), asking for your scientific analysis of their plan to use SCNT to bring back dinosaurs.

a. Considering all of the materials and technical steps involved in the process of nuclear transfer, list three problems you envision will be encountered by their team of scientists.

b. Speculate on how a researcher might overcome each of the obstacles you identified in (a), or state why you feel they may be insurmountable.

c. Given your analysis in (a) and (b), briefly comment on whether you think that the wealthy investor’s plan is feasible.

Identify the UCS, UCR, CS, and CR in the following examples:

1. President Roosevelt believed that the loss of the NRA would be temporary as pressure would be exerted by ____ for a newer version.

a. businessmen

b. bureaucrats

c. politicians

d. voters

e. foreign tourists

2. The tax bill of 1935 is generally referred to as the:

a. “soak the rich” tax increase.

b. “soak the monopolies” tax increase.

c. “soak the speculator” tax increase.

d. “lesser burden on the middle class” tax decrease.

e. “lesser burden on the poor” tax decrease.

3. What changes did the Fed make in 1936 and 1937 that caused/contributed

to the depression of 1937?

a. They engaged in the open market sale of bonds.

b. They engaged in the open market purchase of bonds.

c. They raised the required reserve ratio on banks.

d. Both A and C of the above.

e. Both B and C of the above.

4. FDR’s acceptance speech for his party’s nomination to run for a second terms has been characterized as:

a. an attack on socialism.

b. an endorsement of socialism.

c. an endorsement of communism.

d. an endorsement of free enterprise.

e. an attack on free enterprise.

5. According to Smiley, which of the following is true about U.S. economic performance during World War II?

a. Unemployment fell and leveled off at about 5%.

b. Measured inflation was low, in part because of price controls and rationing.

c. The money supply grew by about 1% per year, keeping inflation low.

d. While the official data shows that consumption fell, Smiley calls that “suspect” and argues that in fact it rose significantly.

e. All of the above.

6. What does Smiley argue about World War II that helped the U.S. become prosperous in the 1940s?

a. More women entered, and stayed, in the labor force.

b. Military spending helped spur technological change.

c. Americans shifted from being pessimistic about the future to being optimistic.

d. The war helped promote increased world trade.

e. All of the above.

7. Which of the following does Smiley argue was not an outgrowth of the Great Depression?

a. The rise in the welfare state.

b. The growth in the regulatory state.

c. Increased federalism.

d. An end to the gold standard.

e. Increased power to individual states rather than the federal government.

Break Even Corp has the following info:

In 2015, budgeted manufacturing costs were $50 per unit ($18 variable and $32 fixed costs).

In all years, budgeted fixed manufacturing costs = actual fixed manufacturing costs

1. What is net income (loss) using absorption costing for 2016?

1. $(133.33)
2. ($200)
3. Zero
4. $120
5. $(160)

2. What is net income (loss) using absorption costing for 2017?

1. $(280)
2. ($200)
3. zero
4. $200
5. $220

3. What would be in change in net income between variance costing and absorption costing if one less unit was produced in 2019

1. Absorption costing net income would be $19.32 greater than variable costing net income
2. Absorption costing net income would be $19.25 less than variable costing net income
3. Absorption costing net income would be $17.75 greater than variable costing net income
4. Absorption costing net income would be $17.50 less than variable costing net income
5. Absorption costing net income would be $16.00 greater than variable costing net income

4. Sheldon just built a motel at a cost of $1,000,000. He would like to earn a return on investment of 25% per year. The variable operating cost is $8 per room night and fixed costs will total $368,000 per year. He expects 16,000 room nights per year. What price should Sheldon charge for a room-night if he uses full cost plus target return on investment pricing ?

1. $250,000
2. $      8.00
3. $    46.63
4. $    23.00
5. $   38.63

Can Someone please answer with details, thanks!

Weller Industries is a decentralized organization with six divisions. The company’s Electrical Division produces a variety of electrical items, including an X52 electrical fitting. The Electrical Division (which is operating at capacity) sells this fitting to its regular customers for $14.90 each; the fitting has a variable manufacturing cost of $9.05.

The company’s Brake Division has asked the Electrical Division to supply it with a large quantity of X52 fittings for only $9.10 each. The Brake Division, which is operating at 60% of capacity, will put the fitting into a brake unit that it will produce and sell to a large commercial airline manufacturer. The cost of the brake unit being built by the Brake Division follows:

Although the $9.10 price for the X52 fitting represents a substantial discount from the regular $14.90 price, the manager of the Brake Division believes the price concession is necessary if his division is to get the contract for the airplane brake units. He has heard “through the grapevine” that the airplane manufacturer plans to reject his bid if it is more than $73.15 per brake unit. Thus, if the Brake Division is forced to pay the regular $14.90 price for the X52 fitting, it will either not get the contract or it will suffer a substantial loss at a time when it is already operating at only 60% of capacity. The manager of the Brake Division argues that the price concession is imperative to the well-being of both his division and the company as a whole.

Weller Industries uses return on investment (ROI) to measure divisional performance.

1. Assume that you are the manager of the Electrical Division.

a. What is the lowest acceptable transfer price for the Electrical Division?

b. Would you supply the X52 fitting to the Brake Division for $9.10 each as requested?

2. Calculate the net positive effect on the company's profit per brake unit the Electrical Division to supply the fittings to the Brake Division and if the airplane brakes can be sold for $73.15?

3. In principle, within what range would that transfer price lie?

Weller Industries is a decentralized organization with six divisions. The company’s Electrical Division produces a variety of electrical items, including an X52 electrical fitting. The Electrical Division (which is operating at capacity) sells this fitting to its regular customers for $8.70 each; the fitting has a variable manufacturing cost of $4.80.

The company’s Brake Division has asked the Electrical Division to supply it with a large quantity of X52 fittings for only $6.70 each. The Brake Division, which is operating at 50% of capacity, will put the fitting into a brake unit that it will produce and sell to a large commercial airline manufacturer. The cost of the brake unit being built by the Brake Division follows:

Although the $6.70 price for the X52 fitting represents a substantial discount from the regular $8.70 price, the manager of the Brake Division believes the price concession is necessary if his division is to get the contract for the airplane brake units. He has heard “through the grapevine” that the airplane manufacturer plans to reject his bid if it is more than $55 per brake unit. Thus, if the Brake Division is forced to pay the regular $8.70 price for the X52 fitting, it will either not get the contract or it will suffer a substantial loss at a time when it is already operating at only 50% of capacity. The manager of the Brake Division argues that the price concession is imperative to the well-being of both his division and the company as a whole.

Weller Industries uses return on investment (ROI) to measure divisional performance.

Required:

1. Assume that you are the manager of the Electrical Division.

a. What is the lowest acceptable transfer price for the Electrical Division?

b. Would you supply the X52 fitting to the Brake Division for $6.70 each as requested?

2. Calculate the net positive effect on the company's profit per brake unit the Electrical Division to supply the fittings to the Brake Division and if the airplane brakes can be sold for $55?

3. In principle, within what range would that transfer price lie?