Question 24 page 397 Chapter 16.(Principles of Microeconomics) book

Imagine that you can divide 50 year old men into two groups: those who have a family history of cancer and those who do not.   For the purposes of this example, say that 20% of a group of 1,000 men have a family history of cancer, and these men have one chance of 50 of dying in the next year, while the other 80% of men have one chance in 200 of dying in the next year. The insurance company is selling a policy that will pay $100,000 to the estate of anyone who dies in the next year.

If the insurance company were selling life insurance separately to each group, what would be the actuarially fair premium for each group?

If an insurance company were offering life insurance to the entire group, but could not find out about family cancer histories, what would be the actuarially fair premium for the group as a whole?

What will happen to the insurance company if it tries to charge the actuarially farm premium to the group as a whole rather than to each group separately? Include in your answer a full explanation as to who purchase the insurance and who does not.

During the classic period the court lifted the veil on a number of occasions - from the list below select the correct answers (you may choose more than one answer)

Group of answer choices

When groups of companies should be viewed as one single entity. (DHN Food Distributors)

Defendant set up a company to solicit customers he was prohibited from soliciting due to previous employment contract (Gilford Motor Co v Horne)

Setting up a company to avoid an estate contract (Jones v Lipman);

Setting up a company to force compulsory purchase of minority shareholdings (Re Bugle Press).

Dealing with the enemy (Daimler v Continential Tyre);

Lord Denning argued in DHN Food Distributors v Tower Hamlets that groups of companies should be viewed as one single entity.

Group of answer choices

True

False

The key question in the case of Adams v Cape Industries was ?

Group of answer choices

It is possible for a company to be held as a mere facade even though it was not originally set up as a sham.

The company was used for some impropriety unconnected to the corporate form.

If there was an existence of an agent-principal relationship.

Whether Cape, the parent company, had a presence in the US through it subsidiaries.

The three situations where the case of Adams v Cape limited veil lifting to are :-

1. Where the interpretation of a statute or document shows that the group of companies is to be treated as one;
2. Where a company is being used as a sham or mere facade;
3. Where there is no agent-principal relationship

We know that the uncertainty principle tells us that the product of the standard deviation of energy and the standard deviation in time must always be greater than h-bar. Since there is a unit element of action, is there a unit element of power as well? In other words, if action is always present, then must power always be positive?

Clarification: This is not intended to be a question related to people who think that there is "vacuum energy/zero point energy/free energy" that can be harvested. This is more along the lines of whether the universe can self-perpetuate.

Clarification 2: Self perpetuate I would define as the ability for the universe, through mechanisms of quantum fluctuations related to the uncertainty principle to produce another epoch similar to our own that would appear to be later in time, from our perspective, and after an apparent thermodynamic death of our current universe.

Question restatement: Is quantizing action analagous to there being a source of power at the quantum level?

1. A public opinion poll asked 930 randomly selected adults if they felt safer given that the U.S. has nuclear weapons, and 543 of the respondents answered “yes.”

1. Find the sample proportion of adults that answered “yes” in this poll.
2. Use a 90% confidence level to compute the margin of error for the point estimate in part (a) above.
3. State the 90% confidence interval for the population proportion of adults who feel safer given that the U.S. has nuclear weapons.
4. Correctly interpret the meaning of your answer from part (c) above in “plain English.” (In other words, explain what this confidence interval tells us as if you were explaining it to a “non-statistics person.”)

2. A confidence interval for the population proportion is: 0.0641 < p < 0.1860. Find the sample proportion and the margin of error for this (confidence) interval estimate.

3. A confidence interval for the population mean is: 24.6 < μ < 31.2. Find the sample mean and the margin of error for this interval estimate.

So, bottom line is that mental health issues like excessive anxiety and depression are no joke – either at a personal level or at the macro level of the US healthcare system.

But while millions of people suffer from mental health issues, it is also noted above that millions of suffering people are left undiagnosed and untreated.

So what should we do? How can we significantly improve our ability to help people in need of mental health treatment?

What should we do about the stigma that some attach to seeing a mental health professional?

What about the equal stigma of being labeled as someone who is “mental?”

How do we, as healthcare professionals, best reach out to those that desperately need assistance –without making anyone think we are looking for “crazy” people?

Overall – what is the best way to address the large and underserved need for mental health care?

USA Today reports that about 25% of all prison parolees become repeat offenders. Alice is a social worker whose job is to counsel people on parole. Let us say success means a person does not become a repeat offender. Alice has been given a group of four parolees.

(a) Find the probability P(r) of r successes ranging from 0 to 4. (Round your answers to three decimal places.)

P(0) =

P(1) =

P(2) =

P(3) =

P(4) =

(c) What is the expected number of parolees in Alice's group who will not be repeat offenders? (Round your answer to two decimal places.) parolees What is the standard deviation? (Round your answer to two decimal places.)

(d) How large a group should Alice counsel to be about 98% sure that three or more parolees will not become repeat offenders?

Kubin Company’s relevant range of production is 25,000 to 33,500 units. When it produces and sells 29,250 units, its average costs per unit are as follows:

Required:

2. Assume the cost object is the Manufacturing Department and that its total output is 29,250 units.

a. How much total manufacturing cost is directly traceable to the Manufacturing Department?

b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?

2. Assume the cost object is the Manufacturing Department and that its total output is 29,250 units.

a. How much total manufacturing cost is directly traceable to the Manufacturing Department? (Round per unit values to 2 decimal places.)

b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?

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3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $117,000 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company's sales representatives’ compensation.

a. When the company sells 29,250 units, what is the total direct selling expense that can be readily traced to individual sales representatives?

b. When the company sells 29,250 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives?

3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $117,000 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company's sales representatives’ compensation.

a. When the company sells 29,250 units, what is the total direct selling expense that can be readily traced to individual sales representatives? (Round per unit value to 2 decimal places.)

b. When the company sells 29,250 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives?

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Assignment # 2 - Individual effort

Video Case Study-- Rise Luggage -- Dragon's Den

BUSN BA532 Spring-Summer 2020    Weight 15% overall    Total possible Points—10

Objective

Please watch the Dragons Den video Rise Luggage video.

This segment is about two brothers who have an entrepreneurial spirit, and have developed a new product for the luggage industry. They need funding to get their product to market and have elected to present to the Dragons Den panel for funding.

Your objective is to write a one-page summary of what you learned from this video. Consider the money that may be required. Consider the distribution channels that they can choose from as presented by the Dragons.

There is no right or wrong answer, however, use your critical thinking skills to demonstrate your understanding of the business decisions the two brothers must make.

• Format- WORD Doc only—Drop Box
• 10 possible points
• Your summary of what you have learned One Page - 8 points
• Grammar, spelling, professional report     - 2 points
• Overall 10 points

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The US unemployment rate (actual unemployment, u) is 8.4 percent, while the natural rate of unemployment (nru) is 4.4 percent.

(i) Using Okun's Law, compute the US current percentage GDP gap. Show your computation. (ii) State your answer in words, comparing actual to potential output. (iii) Is the US GDP gap positive or negative—and why?

Note: "Okun’s Law Arthur Okun was the first macroeconomist to quantify the inverse relationship between the actual unemployment rate and the GDP gap. He noticed that, on average:
GDP gap = −2.0 × (actual unemployment rate − natural unemployment rate)"

The note is from one of my textbooks, is the formula provided above, Okun's Law formula?

Say you are a currency trader. You know from your Bloomberg database terminal that the spot rate is US$0.8545 = NZ$1, NZ Treasury Bills offer a return of 5 percent per anum, US Treasury Bills offer 2 percent per anum, and the one year forward rate is US$0.8224.

NewZealand dollar is domsetic currency.

a) Say you are trying to work out if the current forward rate to see if the markets are in equilibrium, or they are in disequilibrium and you can make profits by trading currencies. What would you conclude? Why?

b) We know the Reserve Bank is increasing domestic interest rates. How will this change your calculations? Why