a) Based on recent statistics, Green Way Airlines expects 4.2% of its customers will be “no shows”. If the airline sold 260 seats for a flight, how many people would the airline expect as “no-shows”? (Round to the nearest whole number)

b) If the airplane can hold 254 passengers, can all those who show up at the gate get on the plane? Explain

4. Volunteers from Habitat for Humanity are painting 16 interior walls in new homes that have been built. Each wall measures 14 feet by 6 2/3 feet. a) If a gallon of paint covers 400 square feet, how many gallons will be required to paint all the walls? (Round to next whole number) b) If each gallon costs $27.95, find the cost of the project.

5. In a recent year, wind machines in the United States generated 17.8 billion kilowatt-hours of electricity (enough to power more than 1.6 million households). The nation's total electricity production was 4450 billion kilowatt-hours. What percent of the total electrical energy production was generated by wind machines?

6. If a 5 1/4 inch line on a map represents a 9-mile road, how many miles would be represented by a 3 1/2 inch line?

7. At a fire sale, items are being sold at 3/4 off the marked price. What is the sale price of an item that has a marked price of $156?

8. Sixteen ounces of mouthwash costs $3.49 while a 33-ounce container of the same brand costs $6.99. Which is a better buy? Why?

9. The price of gasoline jumped from $3.24 per gallon to $4.05 per gallon in one year. What was the percent increase?

10. You buy 2.75 yards of material at $4.80 per yard and pay $0.87 sales tax. What is the total cost for your purchase?

11. Ruth orders clothes from a retail catalog. She orders two turtleneck tops for $35 each, two pairs of stretch pants for $45 each, one winter jacket for $130, and three leather belts for $25 each. The shipping and handling charge for the order is $15. What is the total charge for Ruth's order?

12. A recipe for a wedding punch calls for 12 quarts of champagne. If the champagne comes in bottles that are 4/5 of a quart, how many bottles of champagne would be needed?

13. One bank offers a 4-year car loan at an annual simple interest rate of 7% plus a loan application fee of $45. A second bank offers 4-year car loans at an annual simple interest rate of 8% but no loan application fee. If you need to borrow $5800 to purchase a car, which of the two bank loans has the lesser loan cost? (Assume you keep the car for all 4 years.)

14. In a recent survey of new car buyers, 20 of 63 men said they would prefer to buy a silver car while 16 of 49 women said they would prefer silver. a) Which group has a stronger preference for silver cars? b) Explain your answer

15. How many acres are contained in 1 square mile? (1 mile = 5280 ft.; 1 acre = 43,560 sq. ft.)

Many entrepreneurial ventures raise money from venture capitalists. Getting venture capital funding is a complex process of finding one or more partners to commit to back the company on its journey. The relationship between entrepreneurs and venture capitalists is important – it can be very positive and help a venture succeed, or it can be stressful and have negative implications. We will spend quite a bit of time trying to understand what venture capitalists do and how they structure deals with entrepreneurial ventures. The big question – Can venture capitalists help you and your venture succeed? Venture capitalists are professionals who specialize in investing in high growth potential ventures. They typically raise funds from institutional investors, corporations or individuals and form partnerships that deploy capital over a period of up to ten years. The venture capitalists act as General Partners and the investors are Limited Partners. Venture capital firms have two income streams. They charge a management fee based on the amount in the fund and they take a share of the profits – that share is called the carried interest. For most funds, the management fee is under 2% per year and the carried interest percentage is between 15 and 30%. Most venture capital firms have several partners and invest in multiple companies, often in separate rounds of financing for each company. Venture capital firms tend to specialize in geography, stage of investment, and/or industry. At one end of the spectrum, some funds only invest in early-stage companies. Other firms invest in more established companies to fund growth. The professional venture capital industry has existed since the 1940s though the industry remained small until the mid-1990s as the Internet revolution took hold. Total capital deployed in the industry is under $300 billion. There are several hundred active venture capital funds in the United States and around the world. Venture capital is a “hits” business. Even the best investors lose money or make modest returns on a majority of the companies they back. A few great successes generate most of the value, as was true with companies like Intel, Genentech, Apple, Amazon, Google, Facebook and more recent companies like Uber and Airbnb. A small number of venture capital firms consistently back big winners. In recent years, Sequoia, Benchmark, Accel, and Greylock have had a disproportionate number of “Unicorn” hits – these are companies that attain valuations of $1 billion or more. There is enormous variety in the industry. Some funds are small – from $10 million up to $100 million. These firms are willing to back new companies and write initial checks of several hundred thousand up to a few million dollars. Most venture funds reserve capital to make follow-on investments in companies that are doing well. Larger funds – those up to $1 billion in capital – will only invest in companies that might need tens of millions of dollars over the life of the fund. Venture capitalists are active investors. They often insist on a seat on the board of directors and they negotiate for certain control rights such as the right to replace the CEO or to approve any large capital expenditure or corporate action. Venture capitalists almost always use a standard investment vehicle – convertible preferred stock – though the exact terms depend on many factors. Some venture capitalists have been successful entrepreneurs while others have experience in large companies or finance.

What do you think about raising money from venture capital firms? How do you decide whether you should do so?

Modern Limited.

The Company

Modern Limited is a family-owned and managed, department store situated in Breezyfield, a city in the North of England. The store was established some sixty years ago by the current owner’s father, who passed on the business to his three sons on his death. All three sons are still deeply involved in the running of the business, even though they are now in their sixties, and none of them have children to whom to pass on the business. The Store occupies 100,000 square metres of the main shopping district in the city centre. The management team of Modern Limited pride themselves on running a store which retains the standards of service and customer relationships usually associated with a bygone era.

The Store has four retailing departments (Furnishings, Kitchenware, Menswear and Toys) and a Restaurant. Each department is managed by a department manager and recently Alison was appointed to the post of departmental manager of the Toy Department. She is in her early thirties and is studying on a part-time basis at Sheffield Hallam University for a degree in Accounting and Management Control (she is currently in her final year).

Alex is the departmental manager of Menswear and he is also Alison’s great uncle. He used to be a Sergeant in the Police Force and will be celebrating his 65^th birthday shortly. Alison and Alex do not agree on many issues and often argue. Kitchenware is managed by Joshua and Furnishings is managed by Simon. Joshua and Simon joined the Store round the same year, beginning their careers in retailing as junior assistants and working their way up to their current management roles. Both are now in their middle fifties and pride themselves on knowing their regular customers by name.

Sam, who previously worked for Modern for a number of years as a chef, was promoted to manager of the Restaurant some time ago. Sam achieved some fame a number of years ago when he entered and won a potato-sculpting competition. His prize was an all-expense-paid weekend in Paris and was interviewed by Yorkshire television. This attracted favourable publicity for Modern Limited. However, Sam does have an explosive temper and has been known to ‘lash out’ at his two assistants, Tracy and Peter. He sets very high standards for the restaurant and will throw away cooked dishes which do not meet these standards. He spends the majority of his time in the kitchen and intensely dislikes ‘paperwork’, constantly complaining that it stifles his creativity. The ‘French Cuisine’ menu offered by the restaurant is extensive and creative, but it is generally felt within the company that the prices charged sometimes barely cover the food cost, although this cannot be substantiated because information is not collected.

Sam revises menu weekly, ordering food supplies from local suppliers on a daily basis. There is no stock control system in operation in the Restaurant. The kitchen equipment is quite old and has not been regularly maintained. For example, the dough mixer keeps breaking down and the safety catch on the steamer is missing.

Sam claims that, if he were given additional capital to refurbish and equip the kitchen, he would be able to generate even more business for the Restaurant. In addition, new European Union regulations concerning cook-chill facilities mean that Modern Limited will soon have to spend a considerable amount of money in upgrading the kitchen’s food keeping facilities.

The storage of stock presents problems for Modern Limited Merchandise and stock is delivered to one store-room for all departments other than the restaurant, where deliveries are made directly to the kitchen area. Deliveries are not checked or counted in any way and items are placed on any shelves which are free. As a result, staff often find it difficult to locate products and thus customers are often left waiting for long periods. All staff are allowed into the stock-room and, on odd occasions, customers have been known to wander in by mistake.

All records of the Store are maintained on manual systems.

Recent Events

In the past the store has operated profitably. However, the most recent financial statements revealed a small loss for the previous trading period. This came as quite a shock to the owners and is causing great concern.

Prior to this news, and in a move which seems to have been totally unrelated to it, the family members decide to appoint a Managing director in order to take some of the workload from their own shoulders. They appointed Vijay as the Store’s first Managing Director and when he takes up his appointment he will be the first ‘non-family’ member to be employed in a senior managerial role. He is well qualified for the job, having gained valuable retail experience with Sparks and Mentin plc, a leading department store chain with a first class management training programme and an excellent growth and profits record. His first post with Sparks and Mention plc was as a graduate trainee and he progressed to store manager of one of the company’s stores in the affluent South East of England.

As a result of the reported loss for the previous trading period, the family member called a meeting of the store’s employees to discuss the situation. This type of meeting was unprecedented in the history of the Store. Prior to the meeting, a suggestion box was set up and attendees were asked to put forward suggestions for improving the profitability of the Store.

One suggestion for improving the profitability of the Store was the closure of the Toy Department, another suggestion was the closure of the restaurant and a third suggestion was an across the board price reduction of 5% in order to stimulate demand. In each case the source of the suggestion was not identified.

Unfortunately, when the family members asked for information to assist in evaluating these suggestions, this was hampered by the lack of management information produced within the company. Apparently, the recording systems were geared to maintain records for government regulatory bodies, such as Customs and Excise and the Inland Revenue, and to assist the company secretary in the production of the year-end financial statements.

Since Alison is studying for an accounting degree, she was asked to tackle the job of seeking out information which might be helpful. The information she produced is set out below. It identifies revenues and costs incurred during the previous trading period. The family members were so impressed with the information she produced that they asked her to consider taking on the additional role of management accounting in the company.

Alison has looked into the behaviour of these costs at different sales levels. Purchases of goods for resale in all departments varied proportionately with the level of sales. Additionally, due to the staffing policy of the company (see note on staffing policy below), so did the wages of non-management staff. Departmental expenses (for instance, wrapping paper for goods purchased, cleaning of staff uniforms) were also considered to vary with the level of sales, and there seemed to be a direct correlation between sales promotion costs in the departments and the increase in sales. Other costs totalling $400,000 (not included in the above schedule) were considered not to change with sales levels and some of these costs could not be directly related to individual departments.

Note on Staffing Policy

The company staffs all the Departments by using a core of full time staff to cover a minimum demand level and a flexible workforce of part time staff to work as and when required, with no guaranteed minimum or maximum number of hours for part-time staff.

Question:

(a)   (i) Identify the problems which Alison would need to address in her new role as Management Accountant at Modern Limited.

(ii)Explain the main factors which will influence the design and implementation of a Management Information System for Modern Ltd.

1. A fiscal policy to expand aggregate supply: Group of answer choices results in increased output and a lower price level. works faster than fiscal policy to increase aggregate demand. requires tough trade restrictions to be effective. focuses on short-run economic growth. 2. Automatic stabilizers include all of the following EXCEPT: Group of answer choices tax revenues. transfer payments. increased research and development. All of the answers are correct. 3.All of these would help the U.S. achieve fiscal sustainability in the near future EXCEPT: Group of answer choices cuts in Social Security and Medicare. the abolishment of automatic stabilizers. reforms in government accounting procedures. massive tax increases to fund future Medicare liabilities. 4.Which statement is TRUE? Group of answer choices Changes in tax rates affect aggregate demand but not aggregate supply. Changes in tax rates affect both aggregate demand and aggregate supply. An increase in tax rates increases individuals' incentive to invest. An increase in tax rates encourages individuals to work more. 5.If the marginal propensity to consume in an economy is 0.75, what will be the effect of a reduction in government spending by $100 on the equilibrium output? Group of answer choices The equilibrium output will reduce by $400. The equilibrium output will reduce by $250. The equilibrium output will increase by $400. The equilibrium output will increase by $250.

Brandtly Industries invests a large sum of money in R&D; as a result, it retains and reinvests all of its earnings. In other words, Brandtly does not pay any dividends, and it has no plans to pay dividends in the near future. A major pension fund is interested in purchasing Brandtly's stock. The pension fund manager has estimated Brandtly's free cash flows for the next 4 years as follows: $2 million, $7 million, $11 million, and $14 million. After the fourth year, free cash flow is projected to grow at a constant 7%. Brandtly's WACC is 16%, the market value of its debt and preferred stock totals $46 million; and it has 22 million shares of common stock outstanding. Write out your answers completely. For example, 13 million should be entered as 13,000,000.

What is the present value of the free cash flows projected during the next 4 years? Round your answer to the nearest cent. Do not round your intermediate calculations.

$

What is the firm's horizon, or continuing, value? Round your answer to the nearest cent. $ What is the firm's total value today? Round your answer to the nearest cent. Do not round your intermediate calculations.

$

What is an estimate of Brandtly's price per share? Round your answer to the nearest cent. Do not round your intermediate calculations.

$

The Roche Radius, defined to the orbital distance at which a satellite tidally torn apart by the parent body, is named after Edward Roche, who first derived it in 1848. Recall that his radius is given by:

d = r*( 2 * M/m )^(1/3)  

Where r is the radius of the satellite, m is the mass of the satellite, and M is the mass of the parent body.

(a) Recast this equation in terms of the density of the satellite (p_m), the density of the parent body (p_M), and the radius of the parent body (R). (Hint: you may assume that each body is well approximated by a sphere.)

(b) Let's consider the Saturn system, and apply this equation. Saturn's moon Pan orbits the planet at a distance 1.34 x 10⁵ km; inside of a gap in the rings! Calculate the ratio of Pan's orbital radius to its calculated Roche Radius (p_Pan = 0.42 g/cm² , p_Saturn = 0.687 g/cm² , R_Saturn = 58,000 km). Comment on whether this moon is safe from tidal disruption, or not.

(c) Using what you know about the Roche Radius, and the above example, calculate the radius of the moon required to create the rings of Saturn as seen today (assuming that it was just one moon, with the density of pan and near the present-day orbit of Pan). The total mass in Saturn's rings is approximately 3 x 10¹⁹ kg. (Hint for calculating Saturn's mass: 0.687 g/cm² = 687 kg/m² )

A 65-year-old woman presents with a 10-year history of osteoarthritis,
primarily affecting her hips and knees and new complaints
of neuropathic pain due to type 2 diabetes that may have been
poorly controlled in the past. She has frequent complaints of joint
pain after walking or other activities and experiences stiffness in
the morning when she awakens or after sitting during bridge games.
Recently, she has had difficulty walking and has had several near
falls. She states that her feet feel heavy, numb, and tingling. The
pain feels like pins and needles. She displays no apparent distress,
but this is common in chronic pain. Because the pain is affecting
her active lifestyle, therapy is indicated to improve functional status.
Options for chronic nonmalignant pain include nonsteroidal
anti-inflammatory drugs (NSAIDs), opioids (preferably long-acting
forms), corticosteroids, and local anesthetics. Because the onset of
neuropathic pain is recent, appropriate therapy with antidepressants,
anticonvulsants, or lidocaine may be appropriate. After initiation
of an individualized regimen, the patient should be assessed for
adequacy of pain relief and the presence of side effects.

1) Summarize the Problem or Concern

2) Provide a brief Patho discussion on your primary diagnosis/problem/concern

3) Provide a Pharmacological Plan to treat your patient

4) Provide patient educational information specific to your pharmacological plan

Case-study: Proposed New Airport Runway for the Axe Stream Heights International Airport

Author: Ewan MacFarlane

Scenario (2b): In the past two months, members of the local community protest group, PEEPS, have continued to collect case-reports of illnesses attributed to close residential proximity to the airport. They now claim they have ‘uncovered’ a ‘cluster’ of 13 cases of cancer which they say are caused by exposure to pollutants and/or noise from the airport. Dr McGrimace and Ms Lightbody have reviewed these cases but can’t agree whether or not these cases actually are ‘disease cluster’ and/or if living near the airport is the cause. PEEPS has turned to you for advice.

Questions for discussion:

2b.2 ‘Disease cluster’ communication

Q: 1 Public communication and stakeholder involvement is particularly important when following-up a ‘disease cluster’ – how would you involve the public and stakeholders in this ‘cluster investigation’?

Q: 2 What principles of risk communication are relevant here and how would you ‘operationalise’ them in a situation like this?

Q: 3What can be the consequences of poor stakeholder/public communication in a situation like this?What are some real examples of ‘botched’ public/stakeholder communication in past cluster investigations and/or other environmental health crises? What went wrong and why? What was done to remedy the situation and did it work?

1. Other factors equal, changing the estimated population deviation rate from 2% to 4% would cause the required sample size to?

a. become indeterminate

b. increase

c. remain the same

d. decrease

2. Attributes sampling would be an appropriate method to use on which one of the following procedures in an audit program?

a. Review sales transactions for large and unreasonable amounts.

b. Observe whether the duties of the accounts receivable clerk are separate from handling cash.

c. Examine a sample of duplicate sales invoices for credit approval by the credit manager.

d. Review the aged schedule of accounts receivable to determine if receivables from officers are included

3. Proper separation of duties is useful to prevent various types of misstatements. Which of the following is not an essential?

a. personnel doing internal comparisons should be independent of those entering the original data.

b. separate the credit-granting function from the sales function

c. person having access to cash should not have access to checks from customers

d. anyone responsible for inputting sales and cash receipts transactions information into the computer should be denied access to cash

4. Which is consistent with billing customers before year-end for goods shipped near year-end?

a. AR/CR is high

b. REV/COS is high

c. REV/AR is high

d. none of the above

Research Problem 2. Five years ago Bridget decided to purchase a limited partnership interest in a fast-food restaurant conveniently located near the campus of Southeast State University. The general partnerof the restaurant venture promised her that the investment would prove to be a winner. During theprocess of capitalizing the business, $2 million was borrowed from Northside Bank; however, each of thepartners was required to pledge personal assets as collateral to sa±sfy the bank loan in the event thatthe restaurant defaulted. Bridget pledged shares of publicly traded stock (worth $200,000, basis of$75,000) to sa±sfy the bank’s requirement.The restaurant did a good business un±l just recently, when ²agrant health code viola±ons werediscovered and widely publicized by the media. As a result, business has declined to a point where therestaurant’s con±nued existence is doub³ul. In addi±on, the $2 million loan is now due for payment.Because the restaurant cannot pay, the bank has called for the collateral provided by the partners to beused to sa±sfy the debt. Bridget sells the pledged stock for $200,000 and forwards the proceeds to thebank. Bridget believes that her share of the restaurant’s current and suspended passive losses can o´setthe $125,000 gain from the stock sale. As a result, aµer ne¶ng the passive losses against the gain, noneof the gain is subject to tax. How do you react to Bridget’s posi±on?