Rocky Mountain National Park is a popular park for outdoor recreation activities in Colorado. According to U.S. National Park Service statistics, 46.7% of visitors to Rocky Mountain National Park in 2018 entered through the Beaver Meadows park entrance, 24.3% of visitors entered through the Fall River park entrance, 6.3% of visitors entered through the Grand Lake park entrance, and 22.7% of visitors had no recorded point of entry to the park.† Consider a random sample of 175 Rocky Mountain National Park visitors. Use the normal approximation of the binomial distribution to answer the following questions. (Round your answers to four decimal places.)

(a)

What is the probability that at least 85 visitors had a recorded entry through the Beaver Meadows park entrance?

(b)

What is the probability that at least 80 but less than 90 visitors had a recorded entry through the Beaver Meadows park entrance?

(c)

What is the probability that fewer than 11 visitors had a recorded entry through the Grand Lake park entrance?

(d)

What is the probability that more than 40 visitors have no recorded point of entry?

Q2. a. In the construction of a residential building, Explain the five different types of glasses used in the fixing of the windows and doors. [5]

b. HCT – Muscat will be planning to construct a building near main block, in this building to add the DPC in the above the ground level. 1. Write the name of the materials used for the DPC in ground level. [1]   

2. Explain the provision of DPC in above question a neat sketch and label its parts. [4]


c. Write any five difference between Ordinary Portland Cement and Pozzolana Portland Cement.   

Problem 6-10 (Algo) Long-term contract; revenue recognition over time [LO6-8, 6-9]

[The following information applies to the questions displayed below.]

In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

Problem 6-10 (Algo) Part 1

Required:
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.

2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs incurred).
2-b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts" for construction costs incurred).
2-c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts" for construction costs incurred).

QuadPlex Cinema is the only movie theater in Idaho Falls. The nearest rival movie theater, the Cedar Bluff Twin, is 35 miles away in Pocatello. Thus QuadPlex Cinema possesses a degree of market power. Despite having market power, QuadPlex Cinema is currently suffering losses. In a conversation with the owners of QuadPlex, the manager of the movie theater made the following suggestions: “Since QuadPlex is a local monopoly, we should just increase ticket prices until we make enough profit.”

a. Comment on this strategy. Will it work in short run?

b. Is the Lerner index an appropriate measure for the market power of QuadPlex Cinema? Please explain your answer briefly.

c. What options should QuadPlex consider in the long run?

II. Room Pricing in the Off-Season (Modeling)

The data in the table, from a survey of hotels with comparable rates on Hilton Head Island, show that room occupancy during the off-season (November through February) is related to the price charged for a basic room.

The goal is to use these data to help answer the following questions.

1. What price per day will maximize the daily off-season revenue for a typical hotel in this group if it has  rooms available?

2. Suppose that for this typical hotel, the daily cost is  plus  per occupied room. What price will maximize the profit for this hotel in the off-season?

The price per day that will maximize the off-season profit for this typical hotel applies to this group of hotels. To find the room price per day that will maximize the daily revenue and the room price per day that will maximize the profit for this hotel (and thus the group of hotels) in the off-season, complete the following.

1. Multiply each occupancy rate by  to get the hypothetical room occupancy. Create the revenue data points that compare the price with the revenue, , which is equal to price times the room occupancy.

2. Find an equation that models the revenue, , as a function of the price per day, .

3. Use maximization techniques to find the price that these hotels should charge to maximize the daily revenue.

4. Find a model for the occupancy as a function of the price, and use the occupancy function to create a daily cost function.

5. Form the profit function.

6. Use maximization techniques to find the price that will maximize the profit.

the construction activity for the year-end 31 December 2020, are as follows:

Required:

1) Prepare a schedule by project, showing clearly the amount of gross profit (loss) of the project before deducting selling, general, and administrative expenses for the year ended 31 December 2020 using the percentage-of-completion method. (based on estimated costs.)

2)Based on the schedule, show the amount of gross profit ( or loss) before selling, general, and administrative expenses for the year ended 31 December 2020, which would be reported if the following method are used:

(I) the cost-recovery method.

(II) The percentage-of-completion method ( based on estimated costs)

3) Prepare all the necessary general journal entries for the project AB for the financial year 2020, using the percentage-of-completion method.

Even within a particular chain of hotels, lodging during the summer months can vary substantially depending on the type of room and the amenities offered. Suppose that we randomly select 50 billing statements from each of the computer databases of the Hotel A, the Hotel B, and the Hotel C chains, and record the nightly room rates. The means and standard deviations for 50 billing statements from each of the computer databases of each of the three hotel chains are given in the table.

(a) Find a 95% confidence interval for the difference in the average room rates for the Hotel A and the Hotel C chains. (Round your answers to two decimal places.)
$  to $  

(b) Find a 99% confidence interval for the difference in the average room rates for the Hotel B and the Hotel C chains. (Round your answers to two decimal places.)
$  to $  

(c) Do the intervals in parts (a) and (b) contain the value (μ₁ − μ₂) = 0?

Yes, the interval in part (a) contains (μ₁ − μ₂) = 0.Yes, the interval in part (b) contains (μ₁ − μ₂) = 0.    Yes, both intervals contain (μ₁ − μ₂) = 0.No, neither interval contains (μ₁ − μ₂) = 0.

Why is this of interest to the researcher?

If (μ₁ − μ₂) = 0 is contained in the confidence interval, it is implied that the room rate for one of the hotels was $0.If (μ₁ − μ₂) = 0 is contained in the confidence interval, it is implied that there is no difference in the average room rates for the two hotels.    If (μ₁ − μ₂) = 0 is contained in the confidence interval, it is implied that there was an error in the database records.If (μ₁ − μ₂) = 0 is contained in the confidence interval, it is implied that there is a difference in the average room rates for the two hotels.If (μ₁ − μ₂) = 0 is contained in the confidence interval, it is implied that the average room rate for the two hotels was $0.

(d) Do the data indicate a difference in the average room rates between the Hotel A and the Hotel C chains?

Yes, the data indicate a difference in the average room rates between the Hotel A and the Hotel C chains.No, the data do not indicate a difference in the average room rates between the Hotel A and the Hotel C chains.    

Do the data indicate a difference in the average room rates between the Hotel B and the Hotel C chains?

Yes, the data indicate a difference in the average room rates between the Hotel B and the Hotel C chains.No, the data do not indicate a difference in the average room rates between the Hotel B and the Hotel C chains.   

The Park Manager at Fort Fisher State Park in North Carolina believes the typical park visitor spends at least 90 minutes in the park during summer months. A sample of 18 visitors during the summer months of 2011 revealed the mean time in the park was 96 minutes with a standard deviation of 12 minutes. At the 0.01 significance level, is it reasonable to conclude that the mean time in the park is greater than 90 minutes? What is alpha?

You are the manager of a theater. At present, the theater charges the same admission price of $8 to all customers, regardless of age. You propose a two-tier pricing scheme: $5 for children under the age of 12 and $10 for adults. You tell your supervisor that your proposal is likely to increase revenue. "What must be true about the price elasticity of demand if your proposal is to achieve its goal of raising revenue?

1) Explain the concepts of cross-price elastic of demand, using one of the examples in the table above. What does a positive or negative value indicate? When doing elasticity of demand what is the sign always for a normal good?

2)Explain the concepts of income elasticity using one of the items in the table above. What does a positive value indicate? What about a negative value indicate?

3) When the price of Bob’s Coffee House increased by 8 percent, the quantity demanded of Alex’s Coffee House increased by 10 percent. What would be the cross- price elastic of demand between Bob’s & Alex’s coffee? What is the relationship between these two goods (are they compliments?)

4) Suppose the current price of oil is $90 a barrel and the quantity supplied is 800 million barrels per day. If the price elasticity of supply for oil in the short run is estimated at 0.5, use the midpoint formula to calculate the percentage change in quantity supplied when the price of oil rises to $98 a barrel.

* Please I want answer for these questions and I will give big thump for it. Thanks

Read the following case study and answer the following question.

The Five star Hotel ELV (Extra Low Voltage) project was located in Bahrain and completed in 2011. The purpose of this project was to install, test, and commission the IT, communication infrastructure, and services for the hotel. The ELV project was part of a total program to deliver 11 sub system, including installation of data, voice, music, wireless and CCTV systems. The project stakeholders included the hotel owner, the consultant they had employed on their behalf and various civil, electrical and construction teams involved in implementing the ELV project.

This case study focuses on the Audio visual (AV)sub system, primarily installation of projectors and screens in the meeting rooms and conference facilities. Renosh Thomas as the vendor’s project manager was responsible for issuing the client with complete drawings detailing the projects electrical requirements. Renosh knew these drawings needed to be accurate as these would be handed over to the civil and construction teams for use when building the sites. The final phases of the ELV project required Renosh team to visit the sites, install, and test the electrical equipment.

At initiation and during the project planning phases, the AV requirements were issued and communicated via drawings between the consultant, appointed by the customer and Renosh electrical team. The product specifications were based on lessons learned and templates from a similar project implemented in Dubai. The project scope was determined via the bill of quantities, materials and tender documents.

Renosh received only electrical drawings for the sites and continued to plan the installation requirements based on these drawings, going by the assumption that they were correct, accurate and most recent. Throughout planning, the electrical team was not privy to any of the civil or construction drawings from other teams, and hence remainded completely unaware of structural changes being made on the original plans that they were still working on too.

During installation of the AV system, the team encountered a major problem- the projection was faulty. The projectors and screens were not aligning; images are cut off and unclear. Upon investigation it became apparent that certain structural changes had been added, drawings and calculations inaccurate.

The customers response to this communication oversight was to respond by sending Renosh a full collection of civil and construction drawings including all the latest revisions. Renosh spent considerable time reviewing the drawings to identify the relevant adjustments. This resulted in delays, rework and wasted time as he ploughed through drawings, many of which were excessive to his requirements.

The problem the installation team encountered was that ceilings had been elevated higher than the original design and this had been approved by the customer who failed to communicate the new changes and approvals to Renosh electrical team. Renosh revised and issued new electrical drawings to the customer that went through the approval process again.

The site had been handed over from civil and construction completed with decoration. However, this vital communication error resulted in the solution requiring reworking of parts of the site, such as opening the ceilings to access the electrical panels and make the new changes. This impacted the schedule by 8-10 days and reworked costs of opening, adjusting and redecorating the site.

Questions:

1. Who are the project management stakeholders? How would you design stakeholder management strategies to address their concerns?
2. What planning, monitoring and control actions could the project manager take to avoid the situation?
3. How would you redesign the communications management processes to minimize the problems experienced by project managers?