In Village A, one farmer, i.e., one unit of labor, can produce either 10 bottles of wine (W) or 2 bottles of olive oil (O). In Village B, one farmer can produce either 5 bottles of wine (W) or 15 bottles of olive oil (O). For now, the two villages are in a state of “autarky” and do not trade with each other or with anyone else. People in Village A consume 100 bottles of (W) and 20 bottles of (O), while people in Village B consume 50 bottles of (W) and no bottles of (O).

a)  How much labor is required per bottle of (W) and per bottle of (O) produced in each village? How many farmers does each village have? Explain your answer. [Mark: 0.5]

b)  Each village decides to specialize in the good in which it has comparative advantage. How much is the increase in the aggregate production of each good in the two villages relative to autarky? Explain your answer. Note: aggregate production means the sum of the production levels in the two villages. [Mark: 1.0]

c) The two villages decide to trade freely with each other. Assume that after free trade each bottle of (W) is worth 1.5 bottles of (O). At this price they trade 50 bottles of (W) between them. How many bottles of (W) and of (O) does each village consume? Explain your answer. [Mark: 1.0]

From: Pat Turner
Sent: Thursday, July 7, 2016 8:57 a.m.
Subject: Mystery Data Shopper Stats and Store Performance?

Good morning! Welcome back from vacation J I hope you had a wonderful Fourth of July.

The last mystery shopper surveys came in and I have the final numbers. I am interested in whether there is a way to predict the final average based on the initial survey score. Also, is there a statistically significant relationship between how stores initially performed and what the overall average is?

The initial survey score and the final average data for all seven store locations is in the table below:

Also, how good is the relationship between Initial Survey Score and the Final Average? Could I use an Initial Survey Score to predict a Final Average? In fact, could I predict a Final Average if I have an Initial Survey Score of 90?

If you could have this to me before the weekend, that would be great.

Thanks so much!

Pat Turner, Owner

Chic Sales Consignment, LLC

Please solve the hypothesis testing problems (#1, and 2) using Minitab as the tool.  For each problem, (1) specify the business and statistical hypotheses, (2) specify what the Type I and Type II errors are in this business context, and, the implications of making those errors, (3) include the results from Minitab, (4) draw appropriate conclusions to your statistical hypotheses based on the results, and, finally, (5) present the business conclusions in a short non-statistical summary.

Suppose Smith and Wilson is a relatively small West Coast advertising agency.  Assume that they have hired you to help in their newly established advertising research department.  Your first task is to evaluate the results of a copy test for a new consumer product. Three different versions of the advertisement were prepared.  A random sample of 10 viewers watched the three versions.  After each commercial was shown, each consumer’s attitude toward the product was measured on a scale of 1 to 100 (the higher the score, the more favorable the attitude). The scores of the 10 viewers are below:

Neurotransmitters that open K+ channels in receiving cells are called

QUESTION 10

QUESTION 14

The adaptive immune system can target and kill specific pathogens because

QUESTION 17

What causes the signal that crosses a synapse to stop?

QUESTION 22

Which of the following hormonal signals could act as a ligand for a cytoplasmic receptor protein?

QUESTION 27

Which of the following might happen in individuals that had a nonsense mutation in the middle of the gene for growth hormone (GH) ?

Process:

In this lab, you will be implementing a simple “Bop-it!”-like game. Your program will run for a single game. Start with implementing a “start menu”, output a line asking the user to push a keyboard key to start and wait for the user to push a key.

The game will involve printing a line telling the user which key to press (chosen randomly by the program) and will wait a certain time for a response. After each successful action by the player the time the program will wait for a response will reduce. The game ends when the player does the wrong action or time runs out, (finding time passed may not be as easy as you think, hint: you may want to keep track of a previous time value and compare that to the newly scanned-in time).

Note: You should ensure that key presses are only registered once per press.

Requirements

• Program prints a message telling the user to push a key to start the game.
• Once in game, output tells the player which key to push. The key to press should be determined randomly.
• Part 1:
  • Game runs continuously until the user reaches a loose condition.
    • A wrong key is pressed
• Part 2:
  • Continuing on part 1, but instead of asking the user to push a certain key, print an ASCII table from A-z, and tell the user to press a certain ASCII value
  • For example, “push 97” **wait till a is pressed.
  • Make sure to layer the ASCII table nicely
• Program waits for user action for less time after each iteration.
• Program outputs how many successful actions the player executed at the end.

Questions:

1. How did you randomize the keys that needed to be pressed?
2. What game states, if any, did you keep track of?
3. What mechanism did you use to make sure extraneous key presses were not registered?

Optimal Capital Structure with Hamada

Beckman Engineering and Associates (BEA) is considering a change in its capital structure. BEA currently has $20 million in debt carrying a rate of 7%, and its stock price is $40 per share with 2 million shares outstanding. BEA is a zero growth firm and pays out all of its earnings as dividends. The firm's EBIT is $14.386 million, and it faces a 40% federal-plus-state tax rate. The market risk premium is 6%, and the risk-free rate is 4%. BEA is considering increasing its debt level to a capital structure with 30% debt, based on market values, and repurchasing shares with the extra money that it borrows. BEA will have to retire the old debt in order to issue new debt, and the rate on the new debt will be 8%. BEA has a beta of 1.0.

What is the total value of the firm with 30% debt? Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Do not round intermediate calculations. Round your answer to three decimal places.
$   million

1. What is BEA's unlevered beta? Use market value D/S (which is the same as w_d/w_s) when unlevering. Do not round intermediate calculations. Round your answer to two decimal places.
2. What are BEA's new beta and cost of equity if it has 30% debt? Do not round intermediate calculations. Round your answers to two decimal places.
   Beta:  
   Cost of equity:   %
3. What are BEA’s WACC and total value of the firm with 30% debt? Do not round intermediate calculations. Round your answer to two decimal places.
     %

4. i) Does a negative trade balance necessarily mean a sign of a weak economy? Explain

ii) You read in the newspaper that 500,000 workers have lost their jobs in the last month in Zambia. Is this a cause for concern? Explain why it may or may not be?

A rectangular channel of bottom width B = 7 m carries an average discharge of Q = 8 m³/s. There are two successive long reaches. The first reach has s₀₁=0.015 and n₁=0.010; and the second reach has s₀₂=0.0017 and n₂=0.021. Classify the slopes.