1.Table 27

Refer to Table 27. How many workers should the firm hire?

A.1

B. 2

C. 3

D. 4

2. If education produces positive externalities and the government does not intervene in the market, we would expect

Group of answer choices

A. ​the market equilibrium price to be higher than the efficient equilibrium price.

​B. the market equilibrium quantity to be lower than the efficient equilibrium output level.

C.​the market equilibrium quantity to be higher than the efficient equilibrium output level.

D.​none of the above

3.Which of the following is false?

A. ​The nature of public goods is such that the government cannot accurately assess the benefits of those affected.

​B. National defense and flood control are illustrations of public goods.

C. ​Just as in the case of external costs, public goods tend to be underprovided by the private sector.

D. ​All of the above are true.

In 1987, Roy leased real estate to Drab Corporation for 20 years. Drab Corporation made significant capital improvements to the property. In 2006, Drab decides not to renew the lease and vacates the property. At that time, the value of the improvements is $800,000. Roy sells the real estate in 2018 for $1,200,000 of which $900,000 is attributable to the improvements. When is Roy taxed on the improvements made by Drab Corporation?

Lee, a citizen of Korea, is a resident of the U.S. Any rent income Lee receives from land he owns in Korea. Is that revenue (from Korea) subject to the U.S. income tax? Explain.

Chapter 3

• Explain the different Biological functions of Proteins.
• What are the monomers that make up proteins? What type of bond connects them?
• Describe the structure of an amino acid. How many are there and how do they differ?
• What are some of the different properties associated with amino acid side chains?
• What types of reactions make polypeptides? Break them down?
• Explain the different levels of protein structure and how they contribute to the shape of the protein. What are the shapes associated with secondary structure?
• What different types of chemical interactions contribute to protein structure?
• What occurs when a protein is denatured? What environmental conditions result in proteins being denatured?
• Briefly explain the role of proteins in catalysis (enzymatic function)
• What happens when the shape of a protein changes?

Chapter 6

• What is a Lipid?
• What are the Biological functions of Lipids?
• What are the three most important types of lipids found in cells?
• What is a triglyceride?
• How do fatty acids differ?
• Explain chemically and functionally the difference between saturated and unsaturated fats.
• What is structurally different between a phospholipid and a triglyceride?
• What are the different roles for phospholipids?
• How would saturated vs unsaturated fats impact the function of membranes?
• What are the different functions of Sterols? What are some of the different molecules that are made from cholesterol as a precursor?

2. Nine experts rated two brands of Colombian coffee in a taste-testing experiment. A rating on a 7-point scale (1=extremely unpleasing, 7 = extremely pleasing) is given for each of four characteristics: taste, aroma, richness, and acidity. The following data contain the ratings accumulated over all four characteristics:

̅̅̅

1. a) At the 0.05 level of significance, is there evidence of a difference in the mean ratings between the two brands?

2. b) What assumption is necessary about the population distribution in order to perform this test?

3. c) Construct and interpret a 95% confidence interval estimate of the difference in the mean ratings between the two brands.

The data below lists the population of the United States each year from 2000 until 2010. (Hint: see Chapter 7 Project Part 1) a. (4 points) Use EXCEL to make a scatter plot and find a linear model of your data. Let the horizontal axis represent the years after 2000 (the year 2000 would be 0) and let the vertical axis represent the US population in millions. Provide a title for your graph, label both the vertical and horizontal axes, and make sure the linear model is included on your graph. Copy the scatter plot with the linear model and paste it into your document. b. (3 points) Identify the slope and y-intercept of your linear model and explain what both of these values mean in the context of the data given labeling with correct units. Please use complete sentences. (hint: see last page of part 1 of the project). Year US Population in Millions 2000 282.16 2001 284.97 2002 287.62 2003 290.11 2004 292.81 2005 295.52 2006 298.38 2007 301.23 2008 304.09 2009 306.77 2010 309.3

Here are the total returns for the S&P500 for the first ten years of this century. Assume you invested $1 in the S&P500 on January 1, 2001. Your first year's return was -11.85%.

Year Return

2001 -11.85%

2002 -21.97%

2003 28.36%

2004 10.74%

2005 4.83%

2006 15.61%

2007 5.48%

2008 -36.55%

2009 26.94%

2010 18.00% 4 points.

Q1. If you invested $1 at the beginning of the time frame [1/1/2001], how much would it be worth five years later? Show work and calculations. 4 points.

Q2. If you invested $1 at the beginning of the time frame [1/1/2001], how much would it be worth ten years later? Show work and calculations. 4 points.

Q3. What was the arithmetic return for the 10-year period? 4 points.

Q4. What was the standard deviation of returns for the 10-year period? 2 points.

Q5. What was the variance of returns for the 10-year period. 2 points.

Q6. If you assumed returns were "normally distributed", what range of returns would you expect for a given year?

4. Do the following problems, using data set #3:

(a) Use the naïve forecasting method, the average of historical data method, and a 3-period moving average to estimate values of X.

(b) Calculate the Mean Absolute Error, the Mean Squared Error, and the Mean Absolute Percentage Error for each forecasting method.

(c) Based on your answers to (b), which the best forecasting method?

5. Do the following, using data set #3:

(a) Calculate a linear trend regression for X.

(b) Calculate a quadratic trend regression for X, using a 2-period model.

(c) Calculate the Mean Absolute Error, the Mean Squared Error, and the Mean Absolute Percentage Error for each forecasting method.

(d) Which model is better (a) or (b)? Explain.

#3

Metropolitan Hospital has estimated its average monthly bed needs, N, as:

N=460+5XN=460+5X

where X = time period (months); (January 2002 = 0)

Assume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years:

Forecast Metropolitan's bed demand for January, April, July, November, and December 2007.

Suppose the following actual and forecast values for June bed demands have been recorded.

What seasonal adjustment factor would you recommend be used in making future June forecasts?

3.4%

5.5%

0.7%

When performing calculations in the following problems, use the numbers in the table as-is. I.e., do NOT convert 8.5985 to 8.5985% (or 0.085985). Just use plain 8.5985.

1. Using the basic market model regression, ,R p = α + β R m + ϵ , what is the beta of this portfolio?

2. For precision, find the portfolio beta using the excess return market model: R p − R f = α + β ∗ ( R m − R f ) + ϵ

[Hint: compute annual excess returns first, then run regression.]

When performing calculations in the following problems, use the numbers in the table as-is. I.e., do NOT convert 8.5985 to 8.5985% (or 0.085985). Just use plain 8.5985.

1.

For precision, find the portfolio beta using the excess return market model: R p − R f = α + β ∗ ( R m − R f ) + ϵ

[Hint: compute annual excess returns first, then run regression.]

2. Using the excess return beta β∗ from the previous problem, what is Jensen's alpha for the portfolio?