Dantley's Furniture manufactures rustic furniture. The cost accounting system estimates manufacturing costs to be $230 per table, consisting of 85% variable costs and 15% fixed costs. The company has surplus capacity available. It is Back​ Forrest's policy to add 55% markup to full costs. A large hotel chain is currently expanding and has decided to decorate all new hotels using the rustic style.​ Dantley's Furniture Incorporated is invited to submit a bid to the hotel chain. What is the lowest price per unit​ Dantley's Furniture should bid on this long- term order ?

Choices : A. $230

B. $196

C. $357

D. $161

Economics: Supply and Demand

USF issues parking permits to allow students to park on campus. The price of the permit is set by college administrators at their discretion, they do not consider market conditions. At the current price, some students complain that there aren’t enough spaces for them to park.

A) Describe this situation in economic terms and describe what this implies about the market equilibrium and the price of a parking permit.

B) Should the price of a parking permit be raised or lowered to fix this problem? Why? Explain.

C) Use the supply and demand model to describe how a graph of the market for parking permits would be affected by a change in price. You must include a graph and describe the graph.

PLEASE HELP !

A survey claims that the average cost of a hotel room in Atlanta is more than $125.50 per night. To test this claim, a researcher selects a random sample of 55 hotel rooms and finds that the mean cost per night is $130.75. The standard deviation of the population, σ, is known to be $2.50. At a = 0.05, is there enough evidence to support the claim?

Use the P-Value Method of Testing.

In your work space below, you will need to have -
1. The null hypothesis, Ho
2. The alternative hypothesis, H1
3. The test statistic
4. The type of test(left, right, two-tailed) and the p-value
5. The decision to accept Ho or reject Ho

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.

The Dow Jones Travel Index reported what business travelers pay for hotel rooms per night in major U.S. cities. The average hotel room rates for 20 cities are recorded.

(e) Which measure of the spread (interquartile range & standard deviation) is better to use here? Briefly justify your answer with a graph generated with StatGraphics. [3]

(f) Determine if there is/are any outlier(s) in the data using the IQR approach. Make sure show all your work. [3]

Analyse the relationship between bond prices and interest rates during recession. (4m) (250 words)

An investor estimates that next year’s net income for Hilary Pullman Hotel would be RM 8 million. The company has 0.5 million shares outstanding and decided to pay RM 0.5 million to the preferred stockholders from its net income. Listed companies similar to Hilary Pullman Hotel have been recently reported to have an average price/earnings ratio of 4 times. Given the information, calculate the expected price of the stock and evaluate the problems in using Price/earnings ratio method of valuing the shares of a company. (6m)

1. A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels with a sample standard deviation of $72. Construct a 95% confidence interval and report the lower bound for the interval. (Answer to one decimal place and do not include a $ sign).

2.A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels with a sample standard deviation of $72. Construct a 95% confidence interval and report the upper bound for the interval. Your number should be larger than for the previous problem. (Answer to one decimal place and do not include a $ sign).

(a) Explain the following statement under the Malaysian Contract Law : “Consideration must be sufficient but need not be adequate.”

(b) Budget Travels, booked Hotel Kedekut for a 2 day health event for their staff. All the itinerary and the food to be served were confirmed already. The chef of Hotel Kedekut, who knows the manager of Budget Travels, Michael, very well has decided to make pastries and cupcakes for the health event on his own. The event was a success and Michael, being very delighted, promised to pay for the pastries and cupcakes to the chef on behalf of Budget Travels but in the end he didn’t do so. Is Budget Travels under an obligation to do so?

(Total :20 marks)

The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer.

Required:

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)

2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

• Systematic factors like guests, switching off fans and lights.unanswered
• Number of days present in a month.unanswered
• Income taxes paid on hotel income.unanswered
• Seasonal factors like winter or summer.unanswered
• Fixed salary paid to hotel receptionist.

Exercise 5A-1 High-Low Method [LO5-10]

The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer.

Required:

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)

2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Systematic factors like guests, switching off fans and lights.unanswered

Number of days present in a month.unanswered

Income taxes paid on hotel income.unanswered

Seasonal factors like winter or summer.unanswered

Fixed salary paid to hotel receptionist.