3. It is frequently difficult for graduate schools to compare students from different undergraduate programs since universities have vastly different scales of assessment. Some schools, for example, are known to in ate grades while others maintain more rigorous grading standards. Say that you are a graduate school admissions officer charged with selecting those applicants that have the best undergraduate grades relative to their peers. You must decide between two students - one from Princeton and one from Temple. The Princeton student has a 3.9 grade point average (GPA), and the Temple student has a 3.4 average (GPA). At Princeton, the mean GPA is 3.65 with a standard deviation of .3, while at Temple the mean GPA is 3.15 with a standard deviation of .27. At both schools, GPAs are Normally distributed. Answer the following questions, and show how you arrived at these conclusions. (14 points)

a. If you are interested in selecting the student with the better record compared to the other students at his/her university, which student do you select and why? Make sure to back up your decision with evidence produced by your quantitative toolkit so that you're able to compare both students despite the fact that their schools are quite different.

b. What proportion of Temple students have a higher GPA than this Temple student (who is applying to graduate school in the above problem)?

On May 31st 2019, Mr W Van Rensburg, a twenty year old male first year student visited the Optometry Clinic at the University of Pretoria Medical School campus. He complained of headaches and blurred vision. He found reading in preparation for his upcoming exams difficult. He could not recall the exact time these symptoms started appearing however, he did mention that he often suffered with these symptoms when trying to study from a young age. When questioned about his ocular history, he said he had never visited an eye clinic before, but has often complained about only being able to see things clearly that were seen from a distance. When asked whether he has ever been diagnosed of diabetes, asthma or hypertension, he said no. Previous treatment of his symptoms only included eye-drops which proved ineffective.

1. If you were treating Mr Marie, with what condition would you diagnose him and why? (1 mark)

2. What has resulted in Mr Marie experiencing this condition (i.e. what causes this condition) and how does this differ from a person with perfect vision who does not experience these vision problems?

3. The use of what would correct Mr Marie’s vision problem, and what are his two options for treatment? (1 mark)

The Impact of the Third Round of Regulatory Changes to the US Embargo on Cuba: Licenses Now Available for Products to Support Construction Projects in Cuba

By Doug Jacobson, Glen Kelley and Michael Burton, Jacobson Burton Kelley, PLLC

On January 27, 2016, the Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security (BIS) published a third round of coordinated amendments to the Cuban Assets Control Regulations (CACR) and the Export Administration Regulations (EAR). The Federal Register notices published by the agencies can be found here (OFAC) and here (BIS).

These regulatory changes are intended to further implement President Obama’s policy of seeking to thaw the longtime stalemate in political and economic relations between the US and Cuba.

However, because most aspects of the US travel, trade and financial embargo of Cuba is governed by US law, the Obama Administration remains limited in the regulatory "tweaks" to the embargo, absent further action by the US Congress.

The recent changes, described below, build on the amendments to the U.S. regulations implementing the Cuban embargo that were made in 2015, including:

The January 2015 amendments to the CACR and EAR regulations expanding the scope of the 12 authorized categories of travel to Cuba and authorizing certain trade and financial transactions between the US and Cuba;

The July 2015 removal by the State Department of Cuba from the list of State Sponsors of Terrorism and the corresponding increase by in the de minimis threshold for reexports to Cuba of "items subject to the EAR" from 10% to 25%; and   

The September 21, 2015 amendments to the CACR and EAR authorizing certain business activities and physical presence by US companies in Cuba, expanding the scope of EAR License Exceptions SCP (Support for the Cuban People) and AVS (Aircraft, Vessels and Spacecraft).

Major Changes to the US Embargo on Cuba Resulting from the January 27, 2016 BIS and OFAC Amendments

The OFAC and BIS regulations issued on January 27, 2016 made a number of changes to the restrictions on traveling to and doing business in Cuba. While some of the changes have a very limited scope some of the changes are more much more significant and could open up a wide range of new business with Cuba, assuming a counterparty in Cuba can be found.

The following is an overview of the major changes made by OFAC and BIS to the regulations implementing the US embargo on Cuba.

A. Exports and Reexports Involving Cuban Infrastructure and Other Projects Now Subject to Case-By-Case Licensing Policy

The most significant change made by the January 27, 2016 amendments was the amendment by BIS of section 746.2 of the EAR in order to establish a case-by-case review policy for exports and reexports of "items" for use in construction of various infrastructure products in Cuba, such as facilities for treating public water supplies, facilities for supplying electricity or other energy to the Cuban people, public transportation projects, food processing, public health and sanitation, sports and recreation facilities, and other infrastructure that directly benefits the Cuban people. This is particularly important given Cuba's infrastructure needs. The fact that BIS may issue licenses for transactions with Cuban state-owned enterprises is significant given the Cuban Government's pervasive role in the Cuban economy.

This new case-by-case licensing policy also now authorizes exports and reexports to wholesalers and retailers of items for domestic consumption by the Cuban people. While the term "item" is not defined, this should allow a wide range of consumer and other products to be exported from the US to Cuba as long as a BIS license is obtained in advance.

It is important to note that these changes only authorize the export of goods and software associated with these infrastructure projects. The provision of services by US companies and persons involving such projects in Cuba, such as engineering and architectural services, remain prohibited by OFAC.

In addition, a general policy of denial continues to apply to exports and reexports of items from the US for use by Cuban state-owned enterprises, the Cuban military, agencies, or other organizations of the Cuban government that primarily generate revenue for the state, including those engaged in tourism and those engaged in the extraction or production of minerals or other raw materials.

B. Exports and Reexports Now Subject to General Policy of License Approval

BIS also amended section 746.2 of the EAR to add a general policy of approval for certain exports and reexports previously subject to case-by-case review and a policy of case-by-case review for exports and reexports of items not eligible for license exception to meet the needs of the Cuban people.

Specifically, the January 27, 2016 rule revises the licensing policy from possible approval on a case-by- case basis to a general policy of approval for exports and reexports of the following items to Cuba:

Telecommunications-related items that would improve communications to, from, and among the Cuban people (to the extent not eligible for license exception SCP);

Parts and components necessary to ensure the safety of civil aviation and the safe operation of commercial aircraft engaged in international air travel, including the export or reexport of such aircraft leased to state-owned enterprises (this includes cargo aircraft); and

Agricultural products that are outside the scope of agricultural commodities as defined in Part 772 of the EAR, such as insecticides, pesticides and herbicides, as well as agricultural commodities not eligible for License Exception Agricultural Commodities (AGR).

C. Changes Made to Financing of Certain Export Transactions Involving Cuba

OFAC's amendments to the CACR remove the long-standing cash in advance payment requirement and therefore US banks are now authorized to finance authorized exports and reexports to Cuba, except for agricultural commodities. As a result, US banks are now authorized to issue, advise, negotiate, pay or confirm letters of credit, including those issued by a Cuban bank.

OFAC remains prohibited by US law to authorize payment and financing terms for the export and reexport to Cuba of agricultural commodities and agricultural items, which remain subject to the cash in advance payment terms.

D. Limited Expansion of Certain Authorized Travel Activities to Cuba

OFAC made a number of "tweaks" to the existing 12 categories of authorized travel to Cuba, including changes made to eliminate some of the unintended consequences resulting from the September 21, 2015 amendments.

Temporary Sojourn in Cuba by Aircraft and Vessel Crew Members.OFAC has authorized by general license personnel, such as crew members, who are operating vessels or aircraft to engage in travel-related and other transactions in Cuba in order to facilitate the temporary sojourn of aircraft and vessels authorized by BIS in connection with the transportation of OFAC authorized travelers between the US and Cuba.

Movies and Television Programs. OFAC has authorized travel-related and other transactions directly incident to professional media or artistic productions for exportation, importation, or transmission, including the filming or production of media programs (such as movies and television programs); music recordings; and the creation of artworks in Cuba by persons that are regularly employed in or have demonstrated professional experience in a field relevant to such professional media or artistic productions.

Organizing Professional meetings in Cuba. OFAC authorized by general license travel-related and other transactions to organize professional meetings or conferences in Cuba. The existing general license authorizes only attendance at such meetings or conferences.

Scope of Humanitarian Projects Expanded. OFAC expanded the list of authorized humanitarian projects to include disaster preparedness and response.

E. Air Carrier Services to Cuba

In anticipation of the operation of commercial flights to Cuba later this year, OFAC authorized by general license the entry into blocked space, code-sharing, and leasing arrangements to facilitate the provision of air carrier services including the entry into such arrangements with Cuban nationals.

Conclusion

While some of the changes to US licensing policy on transactions with Cuba that went into effect on January 27, 2016 are significant in scope, many challenges remain in doing "normal" business with Cuba. Despite early enthusiasm many US companies have been frustrated by the extremely limited business possibilities in Cuba given that much of Cuba's economy is owned and controlled by the Cuban Government and individuals in Cuba face significant obstacles on engaging in business transactions directly with US companies, let alone having access to US financing or other authorized credit facilities.

1. How will the lifting of restrictions promote US interests in Cuba?
2. What political argument(s) support not lifting the embargo restrictions against Cuba?

My friend Joe works at a drug company, and he heard that in a week, the drug company is going to approval for its newest blockbuster drug to cure cancer. Before the world knows about this, Joe tells me. I tell my brother Jim. Then Jim goes and buys lots of stock in this drug company. A week later, the world learns of the drug approval and the stock price increases by 200%. Jim is a millionaire from his trades. The SEC learns of this and investigates it. Who might be in legal trouble? How would we decide? Explain why.

You are the CEO of Marketing Research Ltd, a company that conducts marketing research for all types of organisations. Following is a marketing research scenario that you are required to address. Your task is to create a report on the problem and the proposed solution to Martin Scoon.

Martin Scoon, the owner of Scoon Beverages, was mulling the launch of a new product for which he needed to find the pulse of consumers to decide further. He designed a survey for collecting data from people in the city and engaged the services of research students from the university for executing the fieldwork. However, he found them to be non-cooperative at times and wondered whether the data supplied was fudged.

Question

A.Outlines a brief description of the business, its date of establishment, product, market, location and any other relevant information. Also, the marketing research capacity and systems that are currently in place, and any other relevant information. (You may need to add details but you cannot change the information already provided.)

B. Analyse the central problems/issues relevant to the case study

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ignore the above

Indicate the type of unemployment for each event shown below:

1.2.

a) What is the main problem with a barter system? Give an appropriate event/situation that indicates the problem.

Main problems:

Event/Situation:

b) During World War ii, cigarettes were used as money among prisoners of war camps. Considering the attributes that good money should possess, why would cigarettes emerge as money among prisoners?

           i)State any THREE (3)attributes of cigarettes as money in the prison.

            The attributes of cigarettes as money in the prison:     

          ii)Briefly explain why each attribute mentioned in (i)makes cigarettes emerge as money      

              among prisoners. (3 mark)

               Explanation:

Thanks really appreciated your help dear expert Ms/Sir

1. When the amount that has been earned (BCWP) is consistently below the actual cost to date (ACWP), it can be concluded that the project is under cost.

True

False

QUESTION 2

16.6       The main purpose of an audit of a construction company’s financial statements is to:

QUESTION 3

16.5       From the project lifecycle, we can learn all of the following except:

QUESTION 4

16.3       Which of the following best describes the challenges in managing demobilization?

QUESTION 5

16.1       When the amount that has been earned (BCWP) is consistently below the amount that was supposed to be earned (BCWS), it can be concluded that the project is behind schedule.

True

False

QUESTION 6

16.7      Cost estimating and the resulting data are used for all purposes except:

1. 16.4       Closeout procedures can also benefit the construction manager’s long-term performance in all ways except:

Prof. Business has a self-managed retirement plan through her University and would like to retire in 8 years and wonders if her current and future planned savings will provide adequatefuture retirement income. Here’s her information and goals.

Prof. Business wants a 20-year retirement annuity that begins 8 years from today with an equal annual payment equal to $110,000 today inflated at 2% annually over 8 years. Her first retirement annuity payment would occur 8 years from today. She realizes her purchasing power will decrease over time during retirement.

Prof. Business currently has $640,000 in her University retirement account. She expects these savings and any future deposits into her University and any other retirement account will earn 7.5% compounded annually. Also, she expects to earn this same 7.5% annual return after she retires.

Answer the following questions to help Prof. Business finalize her retirement planning.

1. What is Prof. Business’ desired annual retirement income?

2. How much will Prof. Business need 8 years from today to fund her desired retirement

   annuity?

3. In addition to the $640,000 balance today, Prof. Business will fund her future retirement goal from question 2 by making 8 annual equal deposits at 7.5% compounded annually into her retirement accounts starting a year from today (the last deposit will be made when Prof. Business retires). How large does this annual deposit need to be in additionto the initial $640,000 invested in Prof. Business’ retirement fund?

4. This annual figure from #3 is more than the Prof.’s current annual contribution, which makes her feel a little anxious about her future planned retirement. Also, Prof. Business’annual retirement account contribution is based on a percentage of her salary and willincrease as her salary increases. So, let’s re-plan her retirement income. Let’s account for the fact that her and the University’s contributions to Prof. Business’ Universityretirement plan are based on a certain percentage of her salary and will increase as her salary increases. Based on this formula, her first upcoming end of the year deposit will be$20,200 and let’s assume that her annual deposit and salary will grow at a 2% annualrate over the remaining 7 years (8 total deposits) to Prof. Business’ retirement. Thesedeposits are in addition to the $640,000 she currently has today in the University retirement plan. Answer the following based on these assumptions.

1. a) How much money will Prof. Business have in her retirement account immediately after her last deposit 8 years from today?

2. b) What would be the equal annual payment from her 20-year retirement annuity whose first payment occurs exactly 8 years from today?

Flaming Foliage Sky Tours is a small sightseeing tour company in New Hampshire. The firm specializes in aerial tours of the New England countryside during September and October, when the fall color is at its peak. Until recently, the company had not had an accounting department. Routine bookkeeping tasks, such as billing, had been handled by an individual who had little formal training in accounting. As the business began to grow, however, the owner recognized the need for more formal accounting procedures. Jacqueline Frost has recently been hired as the new controller, and she will have the authority to hire an assistant.

During her first week on the job, Frost was given the following performance report. The report was prepared by Red Leif, the company’s manager of aircraft operations, who was planning to present it to the owner the next morning. “Look at these favorable variances for fuel and so forth,” Leif pointed out, as he showed the report to Frost. “My operations people are really doing a great job.” Later that day, Frost looked at the performance report more carefully. She immediately realized that it was improperly prepared and would be misleading to the company’s owner.

Required:
1. Prepare a columnar flexible budget for Flaming Foliage Sky Tours’ expenses, using air miles as the cost driver at the following activity levels: 38,000 air miles, 40,000 air miles, and 43,000 air miles.
2. In spite of several favorable expense variances shown on the report above, the company’s September operating income was only about two-thirds of the expected level. Identify some of the possible reasons.
4. Prepare a revised expense variance report for September, which is based on the flexible budget prepared in part (1).
5. Jacqueline Frost presented the revised expense report to Leif along with the memo explaining why the original performance report was misleading. Leif did not take it well. He complained of Frost’s “interference” and pointed out that the company had been doing just fine without her. “I’m taking my report to the owner tomorrow,” Leif insisted. “Yours just makes us look bad.” What are Frost’s ethical obligations in this matter?