legal aspects of engineering
1. What remedies are available to a seller if the buyer refuses to pay for goods the buyer has accepted?
2. Describe the relationships between the parties to a construction contract.
3. What are the inherent advantages of standardized specifications?
4. Why must real estate transactions be recorded?
In: Operations Management
Background
In this hypothetical scenario, you are the Chief Executive Officer (CEO), of a company, Island Ports Limited. Your business, is a global business, with shipping ports in all of the major English speaking Caribbean countries. On January 7, 2020, you signed a Heads of Agreement with the Government of The Bahamas to invest $120 million during Phase I to develop a cruise port on the island of New Providence. As you can appreciate, the signing and the commitment of your shareholders to this project, preceded any information available to your company and its shareholders with respect to the potential impact of the coronavirus, i.e. COVID-19.
Concessions granted to Island Ports (hypothetical scenario)
The following were the concessions granted to Island Ports during the signing of the Heads of Agreement:
Commitments from Island Ports to the Government and People of The Bahamas
In light of the concessions granted to Island Ports as listed above, the company has committed the following to the Government and people of The Bahamas:
The following is the outlook for The Bahamas, based on baseline data (as at 2019) taken from the Central Bank Quarterly Digest at www.centralbankbahamas.com and projections for 2020 based on these baseline numbers:
Table I: Key Metrics for The Bahamas
|
Key Metrics |
As at 2019 (Pre COVID-19) |
Impact – Projected 2020 |
|
National Debt as at December, 2019 ($mils.) |
$8,749 |
$10,413 |
|
Debt in Foreign Currency ($mils.) |
$2,618 |
$4,282 |
|
Foreign Reserves as at Feb., 2020 ($mils.) |
$2,001 |
$900 |
|
Gross Domestic Product (2019) ($mils.) |
$12,900 |
$10,900 |
|
National Debt as % of GDP |
67.8% |
95.5% |
|
Tourism Expenditure as at 2019 ($mils.)* |
$2,817 |
$1,665 |
|
Unemployment as at November, 2019 |
11.0% |
24.8% |
|
Government GFS Deficit ($mils.) |
($377.6) |
($1,664) |
You have just been appointed the Chief Operating Officer (COO) of Island Ports. You have over twenty years experienceadvising CEO’s on strategic decisions. In addition to your experience as an advisor on strategy, you are accomplished academically. You were a graduate of the University of TheBahamas and later pursued your Masters at Yale in Analytics and Strategy. Needless to say, there is high expectations from your office, in helping the company, Island Ports on the way forward.
Decision
Island Ports has to decide as to whether it wishes to move forward in September, 2020, with the start of construction of Phase I of the construction of the cruise port in New Providence. Island Ports investors are also reluctant to move forward in the current environment. The Government of The Bahamas is also applying pressure to Island Ports to get started with its construction, as this project will provide much needed jobs for the economy, at a time when jobs and incomes are really needed. The government has also reminded Island Ports of the generous concessions that were granted on the condition that the project gets started on time. While the Government of The Bahamas is applying pressure to Island Ports, the company has reminded the government that its project will provide tremendous benefits to the country, through its efforts and ingenuity.
As the COO, you are asked to advise the company on the way forward by way of answering the following questions:
APPENDIX
Key Metrics – The Bahamas
Assumptions and other notes:
Table I: Key Metrics
|
Key Metrics |
As at 2019 (Pre COVID-19) |
Impact – Projected 2020 |
|
National Debt as at December, 2019 ($mils.) |
$8,749 |
$10,413 |
|
Debt in Foreign Currency ($mils.) |
$2,618 |
$4,282 |
|
Foreign Reserves as at Feb., 2020 ($mils.) |
$2,001 |
$900 |
|
Gross Domestic Product (2019) ($mils.) |
$12,900 |
$10,900 |
|
National Debt as % of GDP |
67.8% |
95.5% |
|
Tourism Expenditure as at 2019 ($mils.)* |
$2,817 |
$1,665 |
|
Unemployment as at November, 2019 |
11.0% |
24.8% |
|
Government GFS Deficit ($mils.) |
($377.6) |
($1,664) |
The tourism expenditure of $1.665 billion does not take into account seasonal adjustments/variations, which may result in even a lower level of receipts from tourism.
In: Economics
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.
|
Original Source Material |
Student Version |
|
There is a design methodology called rapid prototyping, which has been used successfully in software engineering. Given similarities between software design and instructional design, we argue that rapid prototyping is a viable method for instructional design, especially for computer-based instruction. References: |
Rapid prototyping could be an advantageous methodology for developing innovative computer-based instruction (Tripp & Bichelmeyer, 1990). References: |
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.
|
Original Source Material |
Student Version |
|
The philosophical position known as constructivism views knowledge as a human construction. The various perspectives within constructivism are based on the premise that knowledge is not part of an objective, external reality that is separate from the individual. Instead, human knowledge, whether the bodies of content in public disciplines (such as mathematics or sociology) or knowledge of the individual learner, is a human construction. References: |
The philosophical position known as constructivism views knowledge as a human construction. The various perspectives within constructivism are based on the premise that knowledge is not part of an objective, external reality that is separate from the individual. Instead, human knowledge is a human construction. |
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.
|
Original Source Material |
Student Version |
|
Merck, in fact, epitomizes the ideological nature--the pragmatic idealism--of highly visionary companies. Our research showed that a fundamental element in the "ticking clock" of a visionary company is a core ideology--core values and a sense of purpose beyond just making money--that guides and inspires people throughout the organization and remains relatively fixed for long periods of time. References: |
While some have identified Merck as a visionary company dedicated to a "core values and a sense of purpose beyond just making money" (Collins & Porras, 2002, p. 48), others point out corporate misdeeds perpetrated by Merck (e.g., its role in establishing a dubious medical journal that republished articles favorable to Merck products) as contradictory evidence. References: |
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.
|
Original Source Material |
Student Version |
|
The philosophical position known as constructivism views knowledge as a human construction. The various perspectives within constructivism are based on the premise that knowledge is not part of an objective, external reality that is separate from the individual. Instead, human knowledge, whether the bodies of content in public disciplines (such as mathematics or sociology) or knowledge of the individual learner; is a human construction. References: |
"The philosophical position known as constructivism views knowledge as a human construction. The various perspectives within constructivism are based on the premise that knowledge is not part of an objective, external reality that is separate from the individual. Instead, human knowledge is a human construction" (p. 29). |
Which of the following is true for the Student Version above?
Word-for-Word plagiarism
Paraphrasing plagiarism
This is not plagiarism
In: Psychology
Q1/ a. For the following three cases, calculate
i. The marginal revenue curve
ii. The level of output where MR = MC (i.e., set the equation from item i equal to marginal cost and solve for Q)
iii. The profit-maximizing price (i.e., plug your answer from equation ii into the demand curve)
iv. Total revenue and total cost at this level of output (something you learned in Chapter 11)
v. What entrepreneurs really care about—total profit
Case A: Demand: P = 40 − Q Fixed cost = 100 Marginal cost = 10
Case B: Demand: P = 100 − 2Q Fixed cost = 100 Marginal cost = 10
Case C: Demand: P = 100 − 2Q Fixed cost = 100 Marginal cost = 20.
b. What is the markup in each case? Measure it two ways: first in dollars, as price minus marginal cost, and then as a percentage markup [100 × (P – MC)/MC, reported as a percent].
c. If you solved part b correctly, you found that when costs rose from Case B to Case C, the monopolist’s optimal price increased. Why didn’t the monopolist charge that same higher price when costs were lower? After all, they are a monopolist, so they can charge what price they want. Explain in language that your grandmother could understand.
In: Economics
How profitable are different sectors of the stock market? One way to answer such a question is to examine profit as a percentage of stockholder equity. A random sample of 28 retail stocks such as Toys 'R' Us, Best Buy, and Gap was studied for x1, profit as a percentage of stockholder equity. The result was x1 = 13.9. A random sample of 36 utility (gas and electric) stocks such as Boston Edison, Wisconsin Energy, and Texas Utilities was studied for x2, profit as a percentage of stockholder equity. The result was x2 = 10.1. Assume that σ1 = 4.6 and σ2 = 4.0.
(a) Categorize the problem below according to parameter being estimated, proportion p, mean μ, difference of means μ1 – μ2, or difference of proportions p1 – p2. Then solve the problem.
μ
p1 – p2
μ1 – μ2
p
(b) Let μ1 represent the population mean profit
as a percentage of stockholder equity for retail stocks, and let
μ2 represent the population mean profit as a
percentage of stockholder equity for utility stocks. Find a 99%
confidence interval for μ1 –
μ2. (Use 1 decimal place.)
| lower limit | |
| upper limit |
(c) Examine the confidence interval and explain what it means in the context of this problem. Does the interval consist of numbers that are all positive? all negative? of different signs? At the 99% level of confidence, does it appear that the profit as a percentage of stockholder equity for retail stocks is higher than that for utility stocks?
Because the interval contains only positive numbers, we can say that the profit as a percentage of stockholder equity is higher for retail stocks.
Because the interval contains both positive and negative numbers, we can not say that the profit as a percentage of stockholder equity is higher for retail stocks.
We can not make any conclusions using this confidence interval.
Because the interval contains only negative numbers, we can say that the profit as a percentage of stockholder equity is higher for utility stocks.
In: Statistics and Probability
Friendly company has sold you 10,000 worth of food that will be repaid by payments of $210 per month for the next 15 years.
A. Compute the effective monthly rate
B. What is the annual percentage rate (APR)
C. what is the effective annual rate or equivalent annual return (EAR)
Your spouse wants to buy a new car. the car cost 100,000 and would be financed with monthly payments over an 8-year period. The credit union is offering interest rates of 2.4% APR on monthly car loans.
How much are the payments?
In: Finance
1) A company has improved its production process. Under the old process, 19 workers could produce 4206 units per hours and the materials cost $53 per unit of output. Workers are paid $15 per hour and the finished product is sold for $126 per unit. After the improvement, materials costs have been reduced by $12 per unit of output and it now takes 4 fewer workers to make the same amount of output. What is the percentage change in multifactor productivity? (do not use a % sign, e.g. enter 50% as .5)
In: Operations Management
Search the internet and compare at least three colleges for the following information.
In: Statistics and Probability
Sales $ 471,000 $ 416,000 Cost of goods sold 330,000 268,000 Gross profit $ 141,000 $ 148,000 Operating expenses 130,000 116,000 Net income $ 11,000 $ 32,000 a. Prepare common size income statements for Price Company, a sole proprietorship, for the two years shown as above by converting the dollar amounts into percentages. For each year, sales will appear as 100 percent and other items will be expressed as a percentage of sales. (Income taxes are not involved as the business is not incorporated.) b. State whether the changes from year 1 to year 2 are favorable or unfavorable.
In: Accounting
Sales $ 471,000 $ 416,000 Cost of goods sold 330,000 268,000 Gross profit $ 141,000 $ 148,000 Operating expenses 130,000 116,000 Net income $ 11,000 $ 32,000 a. Prepare common size income statements for Price Company, a sole proprietorship, for the two years shown as above by converting the dollar amounts into percentages. For each year, sales will appear as 100 percent and other items will be expressed as a percentage of sales. (Income taxes are not involved as the business is not incorporated.) b. State whether the changes from year 1 to year 2 are favorable or unfavorable.
In: Accounting