1. It is said that the internet adoption leads to business value. Discuss any four (4) ways in which the internet provides business value to Ghanaian businesses.

[15 Marks]

2. 'From the Marketplace to the Marketspace' has become a new trend among businesses. Explain this concept and discuss the implications for businesses. [15 Marks]

3. Explain the concept of Business Process Re-engineering and Agile Software Development and state at least three advantages of each. [20 Marks]

Question 1. Estimating the time of a victim’s death during homicide investigations is a complex problem that cannot be solved by analysising simple equations or functions of one variable. However, many mathematical texts examine time of death estimation based around analysis of Newton’s Law of Cooling. Such analysis is based on implicit simplifying assumptions that: the only dependent variable of interest in determining the time of death is the victim’s body temperature, T(t); the victim’s baseline body temperature when alive, T0, is known; and the air temperature of the victim’s surroundings, Ts, is constant. Here we will examine such a problem.
(a) Assume that immediately following death, a victim’s body begins to cool from a standard healthy body temperature of 37◦ Celsius. Further, assume that experimental work has determined that the rate constant in Newton’s Law of Cooling for a human body is approximately k = 0.1947 when time t is measured in hours. Determine a function derived from Newton’s Law of Cooling, T(t), that models the temperature of a victim’s body t hours after death, assuming that the temperature of the body’s surroundings is a constant 15.5◦ Celsius.

(b) If the temperature of the victim’s body is now 22.2◦, how long ago was their time of death?

(c) If the victim’s body temperature at death had instead been 36.3◦ Celsius (within the range of normal body temperatures for a healthy adult), what time of death would be estimated via a Newton’s Law of Cooling model? By what duration does this estimate differ to the time that you determined in part (b)?

(d) In reality, how might the modelling assumptions made to address this problem be violated?

I was able to get questions 1 - 4 answer and only need question 5 and its sub-parts.

Asymmetric Information and Separating Equilibrium

A population has two equal-sized members of "healthy" and "unhealthy" individuals. Members of each type have the same, identical, utility function: U = 20Y0.5 (i.e. 20 x Y raised to the 0.5 power), where Y is annual income.

Assume each individual, in either group, has disposable income (after normal expenses) of $19,000 a year. If in need of major medical care (and does not have insurance), each individual will have $15,000 in medical expenses. A "healthy" individual has a 6% probability, while an "unhealthy" individual has a 18% probability, of requiring major medical care.

Use the information above to answer the questions (1 through 5) below.

NOTE: An actuarially fair insurance premium (AFIP) is always calculated as: AFIP = (Medical expenses covered) x (Probability of occurring).

1. Calculate the AFIP of the full-coverage policy for a "healthy" individual.

2. Calculate the AFIP of the full-coverage policy for an "unhealthy" individual.  

3. Calculate the AFIP of a deductible policy for a "healthy" individual, for which the deductible is equal to $12,000.

4. Calculate the AFIP of a deductible policy for an "unhealthy" individual, for which the deductible is equal to $12,000.

5. Suppose health status ("healthy" or "unhealthy") represents asymmetric information: Each individual knows her or his health status, but insurance companies do not.  

Now, suppose an insurance company offers only two types of policies: 1) a full-coverage policy with premium equal to the most expensive (regardless of insurance type) of the two full-coverage policies.

a. In the boxes below, calculate expected utility for a "healthy" individual, for each scenario:

No Insurance:

Most Expensive Full-Coverage Policy (Option 1):

Least Expensive Deductible Policy (Option 2):

b. In the boxes below, calculate expected utility for an "unhealthy" individual, for each scenario:

No Insurance:

Most Expensive Full-Coverage Policy (Option 1):

Least Expensive Deductible Policy (Option 2):

c. Based on your answers in 5a. and 5b., which option would a representative member of each group (i.e. "healthy" and "unhealthy") choose?

d. In the box below, enter the insurance company's expected economic profit from selling the desired policy (from the individual's perspective) to a member of each group.

Expected Profit from "Healthy":

Expected Profit from "Unhealthy":

1. In at least 4 paragraphs explain what Land Use regulation is and discuss how it can be used to promote segregation and affect the density of residential development.

1. Access Maslow's Hierarchy of Needs, and in relation to this, list four (4) environmental influences that have a positive influence on early brain development.

2.

The following biological and environmental influences can have a negative impact on children’s development and learning. Provide an explanation / reason for each of the following possible influences. (References to be provided):

a. Poor diet

b. Lack of play

c. Limited stimulation on brain development

d. Lack of materials or resources

e. Inconsistent or non-existent emotional support or comfort

f. Trauma

3. List two (2) other life experiences that can negatively impact a child’s long–term development.

4. Suppose that the price per unit of input K is 1 euro, the price per unit of input C is 12 euros and the price per unit of input L is 3 euros a) What is the minimum cost of producing 40 units of output y for the firm if the firm’s production function is Y =min {K;4C}+ L/2 ?

The Government is planning a policy, which envisages simultaneously the following two policies: 1)

introduction of a tax of 1 euro per unit of input L, and 2) introduction of a subsidy of 2 euros per unit of

input C. Find and explain briefly, how would the planned policy affect this firm. Would it affect the

minimum cost of production of 40 units of output? Would it affect the technology used? Provide

calculations for proof.

1. Assume that a country's production function is Y = AK^0.2L^0.8. Population grows at 4 percent and capital depreciates at 2 percent per year. Technology grows at 1 percent a year. Capital is paid its marginal product. A=100 and savings is 20%.

a) What is the steady-state level of capital per effective worker?

b) At the steady-state what is the marginal product of capital?

c) At the steady-state what are the income per effective worker, consumption per effective worker, and investment per effective worker?

lets work on problem 1 from lecture notes 4 as our example. A particle with a mass of 5.00 grams and a charge of 4 microcoulombs has a speed of 0.75 m/s when it passes through a point at which the potential is -1200 volts electron and a proton are released form rest in a uniform electric field that has a magnitude of 500 N/C. The energy and speed of each particle is measured after it has moved through a distance of 25 cm. Assume the particles do not influence one another, but are influenced only by the electric field. Without doing any calculations, determine which particle (a) has more kinetic energy, (b) has a higher speed, (c) takes more time to cover 25 cm. Justify your answers. Now calculate the kinetic Energy, speed and elapsed time for (d) the electron and (e) the proton.

Consider the following game: Three cards are labeled $1, $4, and $7. A player pays a $9 entry fee, selects 2 cards at random without replacement, and then receives the sum of the winnings indicated on the 2 cards.

a) Calculate the expected value and standard deviation of the random variable "net winnings" (that is, winnings minus a $9 entry fee)

b) Suppose a 4th card, labelled k, is added to the game but the player still selects two cards without replacement. What is the value of k which makes the game fair (i.e makes expected net winnings = $0)

13. Approximately how high would a stack of 4 million $1 bills be? (Assume there are 233 new $1 bills per inch. Round your answer to the nearest yard.)

14. A school in Oakland, California, spent $200,000 in changing its mascot sign. If the school had used this amount of money for chalk, estimate the length of the chalk laid end-to-end. (Assume a box of chalk contains 12 four inch pieces and a box costs $1. Round your answer to the nearest mile.)

16. Imagine you have written down the numbers from 1 to 10,000,000. What is the total number of zeros you have recorded?

2. Write each of the numbers in scientific notation and in floating-point notation (as on a calculator).

(a)    googol