Inventory Valuation and Earnings
Santiago, Inc., began operations as an importer of fine Chilean wine to the United States. Sales and purchase information is provided below.

Santiago, Inc., uses the LIFO method of inventory valuation. The purchase amount for Year 3 has been left blank because the company has not yet decided the total number of units to purchase during the year. (Assume that all sales occur on the last day of the year, after all purchases for the year have been made. The company’s year-end is December 31.)

Required

How many units should be purchased in Year 3 if the firm’s objective is to minimize income taxes for the year?

Answer

Compute the cost of goods sold for Year 3 assuming that the number of units computed in (1) is purchased.

$Answer

How many units should be purchased in Year 3 if the firm’s objective is to maximize reported income for the year?

Answer

Compute the cost of goods sold for Year 3 assuming that the number of units computed in (3) is purchased.

$Answer

​(Constant dividend payout ratio policy​)

The Blunt Trucking Company needs to expand its fleet by 70 percent to meet the demands of two major contracts it just received to transport military equipment from manufacturing facilities scattered across the United States to various military bases. The cost of the expansion is estimated to be $11million. Blunt maintains a 40 percent debt ratio and pays out 50 percent of its earnings in common stock dividends each year.

a. If Blunt earns $4 million next​ year, how much common stock will the firm need to sell in order to maintain its target capital​ structure?

b. If Blunt wants to avoid selling any new stock but wants to maintain a constant dividend payout percentage of 50

​percent, how much can the firm spend on new capital​ expenditures?

a. If Blunt earns $4 million next​ year, how much common stock will the firm need to sell in order to maintain its target capital​ structure?

​$ million  ​(Round to two decimal​ places.)

b. If Blunt wants to avoid selling any new stock but wants to maintain a constant dividend payout percentage of

50 ​percent, how much can the firm spend on new capital​ expenditures?

​$ million  ​(Round to two decimal​ places.)

Write a program the declares and uses two parallel arrays. One array for storing the names of countries and a second array for storing the populations of those countries. As you can see per the following the Country name and it's corresponding Population are stored at the same element index in each array.

In the main method write a loop which asks the user if they would like to look up a given country's population.  

• If No, then terminate the program
• If Yes,
  • Call a value returning method, no parameters required:
    • This method prompts the user: What country would you like to look up?
    • The value entered is returned from this method
  • Call a second value returning method, passing it the value returned from the previous method call (ie. The name of the Country being searched for)
    • This method searches the country names array to see if it's there.
    • If it is there (ie it's found), return the population corresponding to the country
    • If it is NOT there, return a -1 which indicates the country was not found in the Country array
  • Back in the main method output the Country name searched for and it's population if found or Not Found when Not Found

Suppose there are two countries, USA and Japan. USA is regarded as the home country and Japan is the foreign country. USA has 100 units of labor available and Japan has 80 units of labor. Both countries can produce only two goods, airplanes and cars. The output per hour of labor in the production of airplanes in the USA is 12, while in car production the output per hour of labor is 6. In Japan, the output per hour of labor in the production of airplanes is 2 and the output per hour of labor in the production of cars is 2. Using the Ricardian model:

(a) Construct a graph of the United States production possibility frontier (use the vertical axis to represent airplanes and the horizontal axis to represent cars).

(b) Construct a graph of Japan's production possibility frontier.

(c) Suppose the mutually beneficial terms of trade between USA and Japan is 1 airplane for ¾ car, draw the consumption possibility frontier for USA by superimposing it on the graph you constructed in (a) above.

(d) Using the inverse of the marginal product of labor, construct a table of the unit labor requirement?

(e) Derive the opportunity cost for both USA and Japan for both goods using the unit labor requirement table that you obtained in (c) above.

(f) Based on your results, determine which country should export airplane or cars.

Does Elevation Affect Temperature Mid-June?
Suppose that you wanted to determine the effect, if any, that elevation has on temperature. The table below lists the elevations (in feet above sea level) of 24 randomly selected cities in the United States and the low temperatures (in degrees Fahrenheit) of these cities on June 15, 2020.

1. If Westerville is 875 feet above sea level, what is Westerville’s estimated low temperature for June 15, 2020?

2. Before performing any regression analyses, what is the benefit of noting that the lowest and highest values amongst the elevation data are −282 feet and 6910 feet, respectively?

3. What proportion of the variation in low temperatures can be explained by the linear relationship with elevation?

Give one example of a lurking variable that may also influence the response variable in this situation

1. Which parasite is not a louse?
A. Pediculus humanus capitis.
B. Sarcoptes scabiei
C. Pediculus humanus corporate
D. Phthirus pubis

2. is a parasitic infection classified as a sexually transmitted infection (STI).
A. Pediculus humanus capitis
B. scabies
C. Pediculus humanus corporis
D. Phthirus pubis

3. Select the drug for which the FDA requires manufacturers to place a Black Box warning in the package insert
A. lindane
B. permethrins
C. pyrethrins
D. crotamiton

4. Which of the following statements about body lice is false?
A. Body lice infestations are caused by the parasite Pediculus humanus corporis.
B. Adult body lice can survive away from a human host for 30 days.
C. Body lice infestations are a serious public health concern.
D. Body lice may cause epidemics of typhus and louse-borne relapsing fever.

5. In which environmental conditions does scabies thrive?
A. dense populations such as in prisons and nursing homes
B. warm environment
C. moist environment
D. arid environment
E. scarcely populated environment

TRUE OR FALSE

6. Malathion was withdrawn from the market in Canada but is still available in the United States.

7. Permethrins and pyrethrins may be obtained only by prescription.

A researcher surveyed randomly selected Democrats and Republicans asking them what the number one concern should be for the president of the United States. The results of the survey are shown below. Is there evidence to conclude that there is a difference in what Democrats and Republicans think is the most important?

What can be concluded at the αα = 0.10 significance level?

1. What is the correct statistical test to use?
   • Homogeneity
   • Paired t-test
   • Independence
   • Goodness-of-Fit
2. What are the null and alternative hypotheses?
   H0:H0:
   • Political affiliation and number one concern are dependent.
   • The distribution of concerns for Democrats is the same as it is for Republicans.
   • Political affiliation and number one concern are independent.
   • The distribution of concerns for Democrats is not the same as it is for Republicans.
   
   
   
   H1:H1:
   • Political affiliation and number one concern are independent.
   • Political affiliation and number one concern are dependent.
   • The distribution of concerns for Democrats is not the same as it is for Republicans.
   • The distribution of concerns for Democrats is the same as it is for Republicans.
3. The test-statistic for this data = (Please show your answer to three decimal places.)
   
4. The p-value for this sample = (Please show your answer to four decimal places.)
   
5. The p-value is Select an answergreater thanless than (or equal to) αα

For each of the following problems, define the appropriate parameter(s) and state the null and alternative hypotheses.
1. Is the proportion of men who vote greater than the proportion of women who vote in the United States?
2. A car dealership announces that the mean time for an oil change is less than 15 minutes.
3. A researcher wants to test if there is evidence that the proportion of US citizens who can name the capital city of Canada is greater than 0.75.
4. A researcher wants to see if there is evidence that the mean time spent studying per week is different between first-year students and upper-class students.

My responses so far...?

1. H_a: P_m > P_w - The proportion of men voters is greater than the proportion of female voters in the alternative hypothesis.
H_o: P_m = P_w - The proportion of men voters is equal to the proportion of female votes in the null hypothesis.

2. H_a: Mu < 15 minutes
H_o: Mu = 15 minutes

3. H_a: P_c > 0.75 - The proportion of citizens who can name the capital city of Canada is greater than 0.75 in the alternative hypothesis
H_o: P_c = 0.75 - The proportion of citizens who can name the capital city of Canada is equal to 0.75 in the null hypothesis.

4. I'm really stuck on this one!

#32

Is there a relation between police protection and fire protection? A random sample of large population areas gave the following information about the number of local police and the number of local fire-fighters (units in thousands). (Reference: Statistical Abstract of the United States.)

Use a 5% level of significance to test the claim that there is a monotone relationship (either way) between the ranks of number of police and number of firefighters.

(a) Rank-order police using 1 as the largest data value. Also rank-order firefighters using 1 as the largest data value. Then construct a table of ranks to be used for a Spearman rank correlation test.

(c) Compute the sample test statistic. (Use 3 decimal places.)

Camino Company manufactures designer to-go coffee cups. Each line of coffee cups is endorsed by a high-profile celebrity and designed with special elements selected by the celebrity. During the most recent year, Camino Company had the following operating results while operating at 75 percent (60,000 units) of its capacity:

Camino’s cost of goods sold and operating expenses are 80 percent variable and 20 percent fixed. Camino has received an offer from a professional wrestling association to design a coffee cup endorsed by its biggest star and produce 16,000 cups for $8 each (total $128,000). These cups would be sold at wrestling matches throughout the United States. Acceptance of the order would require a $48,000 endorsement fee to the wrestling star, but no other increases in fixed operating expenses.

Required:
1. Complete the incremental analysis of the special order in the table provided below. (Enter per unit answers to 2 decimal places.)



2. Should Camino accept this special order?

3. If Camino were operating at full capacity, what price would Camino require for the special order?