Central University of Illinois has a newly appointed president, Catherine Husker. This has been a challenging budget year due to the difficulties of getting a state budget passed in the State Legislature. It appears from all reports that the budget that may get passed will be only 90% of last year’s state appropriations for the University. This means the University will have to cut their own operating budget for next year because of the State’s expected reduction in appropriations to higher education.

Husker just had a meeting with the athletic director of the university, Gareth Connor, to discuss the budget for the athletic department. Central University has been a men’s football and basketball powerhouse for the last several decades. However, the women’s athletic program has had less success. Last year, though, the women’s basketball team was one of the team’s selected to participate in the NCAA Women’s Basketball Competition through an “at-large bid” due to their outstanding season.

Connor and Husker discussed the 2018 Athletic Department budget, which Connor believed was the final draft. The meeting did not go well. In fact, it went terribly.   Husker discussed four grave concerns she had about the Athletic Department budget and requested Connor to review and revise the budget in light of her concerns below. Draft II of the budget is due in two weeks time.

Concern 1: The Athletic Department is budgeting a loss of over $3 million. Given the tight fiscal position of the university, this outcome is unacceptable to Husker. A budgeted loss of $1 million is the most she will tolerate for 2018. By 2019 the Athletic Department has to operate with a balanced budget. She tells Connor this is nonnegotiable.

Concern 2: The low allocation of money to the women’s athletic program. Fox Valley News, a tabloid television show, recently ran a program titled “It’s a Man’s World at Central University Athletics’ Program.” Husker said Connor is treating woman athletes as “third-class citizens.”

Concern 3: The low academic performance of the men’s football athletes, many of whom have full scholarships. She notes that the local TV news recently ran an interview with three football-team students, only one of which “exemplified the high academic credentials she wants Central to showcase to the world.” As for the other two students, she calls one student “incoherent” and another “incapable of stringing sentences together.”

Concern 4: The outrageous salary paid to “Bull” Mason, the football coach. She notes it is twice that of the highest paid academic person on campus, a Nobel Prize winner. Moreover, Mason receives other payments from his “Football the Central Way” summer program for high school students.

Below is Draft I of the Athletic Department budget:

Central University 2017 Athletic Department Budget ($ millions)

Revenues:

            Men’s athletic programs                              $10.350

            Women’s athletic programs                            0.780

            Other (endowment income, gifts)     3.400          $14.530

Costs:

         Men’s athletic programs                              $11.040

            Women’s athletic programs                            2.800

            Other (non-assigned to programs)*              3.700          17.540

Operating Income                                                                            $( 3.010)

*Other non-assigned programs include rugby, soccer and volleyball

Men’s Athletic Programs:

                                    Football          Basketball         Swimming     Other       Total

Revenues                  $8.600           $1.500               $0.100        $0.150   $10.350

Costs                          7.400                2.700                  0.300           0.640     11.040

Full Scholarships            37                    21            6                      4          68

Women’s Athletic Programs:

                                                            Basketball         Swimming     Other       Total

Revenues                                          $0.600               $0.080        $0.100   $ 0.780

Costs                                                    1.800                  0.200           0.800       2.800

Full Scholarships                                     11            4                      2          17

REQUIRED:

Connor will be holding a half-day meeting with key officials of the Athletic Department (of which your team are some of these key officials) to discuss the university president’s concerns. In order for your team of officials to be prepared to discuss the concerns of the president at this meeting, please answer the following questions prior to the meeting.

Questions:

Who are the stakeholders? (Worth 4 pts.)

The Athletic Department is operating at a loss. What are some of the ways the Department can increase revenues? Are there any potential pitfalls or problems with any of your ideas? (Worth 6 pts.)

Central University of Illinois has a newly appointed president, Catherine Husker. This has been a challenging budget year due to the difficulties of getting a state budget passed in the State Legislature. It appears from all reports that the budget that may get passed will be only 90% of last year’s state appropriations for the University. This means the University will have to cut their own operating budget for next year because of the State’s expected reduction in appropriations to higher education.

Husker just had a meeting with the athletic director of the university, Gareth Connor, to discuss the budget for the athletic department. Central University has been a men’s football and basketball powerhouse for the last several decades. However, the women’s athletic program has had less success. Last year, though, the women’s basketball team was one of the team’s selected to participate in the NCAA Women’s Basketball Competition through an “at-large bid” due to their outstanding season.

Connor and Husker discussed the 2020 Athletic Department budget, which Connor believed was the final draft. The meeting did not go well. In fact, it went terribly.   Husker discussed four grave concerns she had about the Athletic Department budget and requested Connor to review and revise the budget in light of her concerns below. Draft II of the budget is due in two weeks time.

Concern 1: The Athletic Department is budgeting a loss of over $3 million. Given the tight fiscal position of the university, this outcome is unacceptable to Husker. A budgeted loss of $1 million is the most she will tolerate for 2020. By 2021 the Athletic Department has to operate with a balanced budget. She tells Connor this is nonnegotiable.

Concern 2: The low allocation of money to the women’s athletic program. Fox Valley News, a tabloid television show, recently ran a program titled “It’s a Man’s World at Central University Athletics’ Program.” Husker said Connor is treating woman athletes as “third-class citizens.”

Concern 3: The low academic performance of the men’s football athletes, many of whom have full scholarships. She notes that the local TV news recently ran an interview with three football-team students, only one of which “exemplified the high academic credentials she wants Central to showcase to the world.” As for the other two students, she calls one student “incoherent” and another “incapable of stringing sentences together.”

Concern 4: The outrageous salary paid to “Bull” Mason, the football coach. She notes it is twice that of the highest paid academic person on campus, a Nobel Prize winner. Moreover, Mason receives other payments from his “Football the Central Way” summer program for high school students.

Below is Draft I of the Athletic Department Budget:

Central University 2020 Athletic Department Budget ($ millions)

Revenues:

          Men’s athletic programs                      $10.350

          Women’s athletic programs                     0.780

          Other (endowment income, gifts)            3.400       $14.530

Costs:

         Men’s athletic programs                      $11.040

          Women’s athletic programs                     2.800

          Other (non-assigned to programs)*         3.700       17.540

Operating Income                                                              $( 3.010)

*Other non-assigned programs include rugby, soccer and volleyball

Men’s Athletic Programs:

                              Football       Basketball       Swimming              Other       Total

Revenues               $8.600         $1.500             $0.100      $0.150   $10.350

Costs                      7.400             2.700               0.300        0.640     11.040

Full Scholarships         37                 21                   6                  4        68

Women’s Athletic Programs:

                                                  Basketball       Swimming              Other      Total

Revenues                                   $0.600             $0.080      $0.100   $ 0.780

Costs                                            1.800               0.200        0.800       2.800

Full Scholarships                              11                   4                  2        17

REQUIRED:

Connor will be holding a half-day meeting with key officials of the Athletic Department (of which your team are some of these key officials) to discuss the university president’s concerns. In order for your team of officials to be prepared to discuss the concerns of the president at this meeting, please answer the following questions prior to the meeting.

Questions:

1. Who are the stakeholders? (Worth 5 pts.)

2. The Athletic Department is operating at a loss. What are some of the ways the Department can increase revenues? Are there any potential pitfalls or problems with any of your ideas? (Worth 10 pts.)

3. Are there any ways that the Athletic Department can decrease costs? Are there any potential pitfalls or problems with any of these suggestions? (Worth 10 pts.)

4. What are some of the gender issues that Husker raised and how would you attempt to address them? (Worth 5 pts.)

Item 7

In the case below, the original source material is given along with a sample of student work. Determine the type of plagiarism by clicking the appropriate radio button.

Which of the following is true for the Student Version above?

Word-for-Word plagiarism

Paraphrasing plagiarism

This is not plagiarism

Hints

Item 8

In the case below, the original source material is given along with a sample of student work. Determine the type of plagiarism by clicking the appropriate radio button.

Which of the following is true for the Student Version above?

Word-for-Word plagiarism

Paraphrasing plagiarism

This is not plagiarism

Hints

Item 9

In the case below, the original source material is given along with a sample of student work. Determine the type of plagiarism by clicking the appropriate radio button.

Which of the following is true for the Student Version above?

Word-for-Word plagiarism

Paraphrasing plagiarism

This is not plagiarism

Hints

Item 10

In the case below, the original source material is given along with a sample of student work. Determine the type of plagiarism by clicking the appropriate radio button.

Which of the following is true for the Student Version above?

Word-for-Word plagiarism

Paraphrasing plagiarism

This is not plagiarism

1.  For answering the question below, you can use your own home, your parents’ or a friend’s home, or just imagine your dream first home and location.

Your homeowners policy is about to be renewed.  It is written to cover your dwelling for its original construction cost.  The policy is a Homeowners form HO-3 and is standard in all respects.  The coverages are all standard percentages, and there are no endorsements or modifications to the policy.  What changes to this basic contract should you consider?

2.  You might be able to answer this one using your own dwelling, apartment, dorm room, etc.  If not, refer to #1 above.  Go to the www.rateyourrisk.org (Links to an external site.)Links to an external site. web site and take the "Risk of Burglary Test."   What changes can you make to decrease the likelihood of this type of crime?

3.  As the CEO of a property-casualty insurance company, how would another downturn in the economy, such as what happened from 2007-2010, especially in the housing market, affect your homeowners insurance business? What about insurers in areas at risk for natural disasters such as the Houston area or Florida?

4. How might changes in technology such as Smart Homes and the Internet of Things, Solar Panels, etc. affect the structure of homeowners insurance with respect to coverages and risk exposures?

1. Which of the following statements regarding personality development is TRUE?

A. Personality is determined by heredity and does not change over the course of one's life.

B. The greatest changes in personality development occur in early childhood.

C. Personality development is relatively stable, but great changes occur later in one's life.

D. Personality development is rarely stable and dramatic changes can be seen in all stages of a person's life.

2. Which of the following is the primary vehicle for socializing an individual into a particular culture?

A. immediate family

B. group membership

C. life experiences

D. peers

3. A society in which gender roles overlap is said to be

A. masculine.

B. feminine.

C. gender neutral.

D. gender biased.

4. Job _______ is the extent to which individuals find fulfillment in their work.

A. satisfaction

B. appreciation

C. awareness

D. motivation

5. What does research suggest about the correlation between job satisfaction and job performance?

A. Job satisfaction and job performance are influenced by one's personality.

B. There is a direct link between job satisfaction and job performance.

C. Job performance and job satisfaction are not influenced by one's attitudes or locus of control.

D. There is no link between a satisfied, high-performing workforce and overall organizational effectiveness.

McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $600 per set and have a variable cost of $300 per set. The company has spent $170,000 for a marketing study that determined the company will sell 63,000 sets per year for seven years. The marketing study also determined that the company will lose sales of 14,000 sets of its high-priced clubs. The high-priced clubs sell at $900 and have variable costs of $600. The company will also increase sales of its cheap clubs by 9,000 sets. The cheap clubs sell for $400 and have variable costs of $200 per set. The fixed costs each year will be $8,484,000. The company has also spent $1,103,000 on research and development for the new clubs. The plant and equipment required will cost $20,200,000 and will be depreciated on a straight-line basis. The new clubs will also require an increase in net working capital of $1,059,000 that will be returned at the end of the project. The tax rate is 21 percent, and the cost of capital is 8 percent. McGilla Golf would like to know the sensitivity of NPV to changes in the price of the new clubs and the quantity of new clubs sold.

a. What is the sensitivity of the NPV to changes in the price of the new club?

b. What is the sensitivity of the NPV to changes in the quantity sold?

Calculate the elasticity for the following questions (USING THE MIDPOINT (AVERAGE) FORMULA) and indicate if the goods are:

1. Inferior,
2. Normal,
3. Complements, or
4. Substitutes

(Please Include The Negative signs in your answers where appropriate)

A. The price of gasoline increases from 12 per barrel to 28 per barrel and as a result, the demand per month for new cars changes from 600 to 200.

Part 1: The elasticity is


Part 2: These goods are (answer using numbers, 1-4)

B. As a result of a change in income from 1,275 to 1,875 per month, the consumption of good X changes from 380 to 200 units.


Part 3: The elasticity is



Part 4: Good X is a(an) (answer using numbers, 1-4)


C. As a result of a decrease in the price of good Y from 39 to 19 the demand for good X changes from 150 to 350 units.


Part 5: The elasticity is



Part 6: These goods are(answer using numbers, 1-4)


D. As a result of an economic boom in Calgary, the average income increases from 2,800 to 4,200 per month and as a result the demand for new houses increases from 160 to 260 units.


Part 7: The elasticity is



Part 8: New houses are a(an) (answer using numbers, 1-4)

1. A sample of ideal gas at room temperature occupies a volume of 38.0 L at a pressure of 512 torr . If the pressure changes to 2560 torr , with no change in the temperature or moles of gas, what is the new volume, V2?

Express your answer with the appropriate units.

V2 =

2. If the volume of the original sample in Part A (P1 = 512 torr , V1 = 38.0 L ) changes to 51.0 L , without a change in the temperature or moles of gas molecules, what is the new pressure, P2?

Express your answer with the appropriate units.

P2 =

3. A sample of gas in a balloon has an initial temperature of 8.0 ∘C and a volume of 1.38×10³ L . If the temperature changes to 73 ∘C , and there is no change of pressure or amount of gas, what is the new volume, V2, of the gas?

Express your answer with the appropriate units.

V2 =

4. What Celsius temperature, T2, is required to change the volume of the gas sample in Part A (T1 = 8.0 ∘C , V1= 1.38×10³ L ) to a volume of 2.76×10³ L ? Assume no change in pressure or the amount of gas in the balloon.

Express your answer with the appropriate units.

T2 =

5. If the initial volume of the balloon is 2.5 L , what will its volume be after it cools? (Assume constant pressure.)

Express your answer using two significant figures.

V2 =

Calculate the elasticity for the following questions (USING THE MIDPOINT (AVERAGE) FORMULA) and indicate if the goods are:

1. Inferior,
2. Normal,
3. Complements, or
4. Substitutes

(Please Include The Negative signs in your answers where appropriate)

A. The price of gasoline increases from 20 per barrel to 30 per barrel and as a result, the demand per month for new cars changes from 650 to 300.

Part 1: The elasticity is


Part 2: These goods are (answer using numbers, 1-4)

B. As a result of a change in income from 1,475 to 2,975 per month, the consumption of good X changes from 340 to 425 units.


Part 3: The elasticity is



Part 4: Good X is a(an) (answer using numbers, 1-4)


C. As a result of a decrease in the price of good Y from 31 to 20 the demand for good X changes from 300 to 350 units.


Part 5: The elasticity is



Part 6: These goods are(answer using numbers, 1-4)


D. As a result of an economic boom in Calgary, the average income increases from 2,500 to 5,500 per month and as a result the demand for new houses increases from 150 to 360 units.


Part 7: The elasticity is



Part 8: New houses are a(an) (answer using numbers, 1-4)

Measuring the Economy’s Performance For this assignment, you should use the information in the textbook and the information found on the official government website: www.bea.gov/index.htm Based on the information contained in the textbook and on the Web site above, answer the following questions: What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008? What was national income (NI) for 2008? What does national income tell us? What is the difference between GDP and NI? How has NI changed since 2008? What caused these changes? What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes? Does GDP measure the well-being of society? Why or why not? What was GDP in 2008 (sometimes called GSP) for your state? How does your state rate when compared to other states? Submission Details: Submit a 4 to 6 page Microsoft Word document, using APA style. Name your document SU_ECO2072_W2_ LastName_FirstInitial Submit your document to the Submissions Area by the due date assigned.